PGT INNOVATIONS Reports Impressive Earnings for FY2023 Q2
August 9, 2023
☀️Earnings Overview
On August 3 2023, PGT INNOVATIONS ($NYSE:PGTI) revealed their financial results for the quarter ending June 30 2023 of FY2023 Q2. Their total revenue was USD 384.9 million, a 5.3% decrease from the same time in the previous year. Net income for this period was USD 31.5 million, a 12.9% decrease from the year prior.
Stock Price
On Thursday, PGT INNOVATIONS reported impressive earnings for the second quarter of the fiscal year 2023. The company’s stock opened at $27.5 and closed at $26.1, a 10.0% drop from its prior closing price of 29.0. Despite the short-term drop in stock price, investors were pleased with the company’s strong performance overall.
Going forward, PGT INNOVATIONS is optimistic that they will continue to increase their profits and grow their customer base with their innovative products and services. With a strong balance sheet and an experienced management team, investors remain confident that the company will continue to be a major leader in their industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pgt Innovations. More…
| Total Revenues | Net Income | Net Margin |
| 1.49k | 104.78 | 7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pgt Innovations. More…
| Operations | Investing | Financing |
| 171.75 | -240.76 | -50.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pgt Innovations. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.61k | 963.61 | 11.1 |
Key Ratios Snapshot
Some of the financial key ratios for Pgt Innovations are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.2% | 28.4% | 11.4% |
| FCF Margin | ROE | ROA |
| 8.0% | 16.5% | 6.6% |
Analysis
At GoodWhale, we have conducted an extensive analysis of PGT INNOVATIONS‘s financials. Based on our Risk Rating, PGT INNOVATIONS is a medium risk investment from both financial and business perspectives. Upon further scrutiny of the company’s income sheet and balance sheet, we have identified two risk warnings for PGT INNOVATIONS that require attention. For more information about the potential risks for investing in PGT INNOVATIONS, please visit our website at goodwhale.com. More…
Peers
There is significant competition between PGT Innovations Inc and its competitors Tyman PLC, Beacon Roofing Supply Inc, Quanex Building Products Corp. All four companies compete for market share in the manufacture and sale of windows, doors, and other building products. PGT Innovations Inc has a significant competitive advantage in its ability to vertically integrate the production of its products. This means that PGT Innovations Inc can control the quality of its products from start to finish, ensuring that its products are of the highest possible quality. Additionally, PGT Innovations Inc has a strong brand name and reputation, which gives it a leg up on its competitors.
– Tyman PLC ($LSE:TYMN)
Tyman PLC is a British-based manufacturer and supplier of door and window products. The company has a market cap of 382.79M as of 2022 and a Return on Equity of 9.35%. Tyman PLC supplies a range of door and window products to the construction, repair and maintenance markets in the United Kingdom, Europe, North America and Asia Pacific. The company’s products include door and window frames, doors, windows, hardware, glass and glazing products.
– Beacon Roofing Supply Inc ($NASDAQ:BECN)
Beacon Roofing Supply Inc is a leading distributor of roofing materials and supplies in the United States. The company has a market cap of 3.54 billion and a return on equity of 13.72%. Beacon Roofing Supply Inc is a publicly traded company on the Nasdaq Stock Market under the ticker symbol BECN. The company was founded in 1928 and is headquartered in Herndon, Virginia. Beacon Roofing Supply Inc operates more than 400 locations in 40 states across the United States. The company offers a wide range of roofing materials and supplies, including asphalt shingles, metal roofing, slate roofing, tile roofing, and more.
– Quanex Building Products Corp ($NYSE:NX)
Quanex Building Products Corporation is a leading provider of engineered products, services and solutions for the global residential new construction, repair and remodeling, and commercial construction markets. The Company operates in three segments: Engineered Components, Cabinets & Windows, and Insulation. Quanex Building Products Corporation is headquartered in Houston, Texas.
As of 2022, Quanex Building Products Corporation had a market cap of 649M and a Return on Equity of 15.63%. The company operates in three segments: Engineered Components, Cabinets & Windows, and Insulation. Quanex Building Products Corporation is headquartered in Houston, Texas.
Summary
PGT INNOVATIONS‘ financial results for the second quarter of FY2023 are out, and there has been a decline in revenue and net income from the same period last year. Revenue was down 5.3%, while net income decreased by 12.9%. The stock price has dropped accordingly.
For investors, this might be a reason for concern, but it’s important to look at the company’s overall performance and outlook when considering PGT INNOVATIONS as an investment opportunity. Analysts should conduct thorough research of the company’s historical financial performance and future prospects to make an informed decision.
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