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PGT Innovations (PGTI) to Post Q1 Earnings: What to Expect?
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PGT Innovations, Inc. is scheduled to report first-quarter 2022 results on May 12, before the opening bell.
In the last reported quarter, the company’s earnings and revenues surpassed their respective Zacks Consensus Estimate by 3.3% and 1.7%. On a year-over-year basis, the metrics increased 72% and 37%, respectively, driven by actions undertaken in 2021 to increase hiring and employee training, make strategic acquisitions, implement manufacturing improvements, and secure key inputs supplies like glass and aluminum.
The company’s earnings surpassed the consensus mark in four of the trailing five quarters.
The Trend in Estimate Revision
The Zacks Consensus Estimate for PGT Innovations’ first-quarter earnings is pegged at 37 cents per share, suggesting an increase of 37% from the year-ago quarter’s figure of 27 cents. The consensus estimate for net sales is pegged at $336.23 million, indicating a 24% increase from the prior-year quarter’s figure.
Factors to Note
PGT Innovations’ earnings and revenues in first-quarter 2022 will likely improve year over year. The company has been benefiting from strong pricing, accretive acquisitions and manufacturing capabilities. The company’s effort to increase production to meet demand is likely to have paid off.
The company has been witnessing strong growth in both R&R and new construction markets. Additionally, growth across several key states, including Florida, Texas, and Arizona, is adding to the positives.
Yet, its bottom line is expected to have pressurized in the quarter to be reported, thanks to intense inflationary pressure, particularly on input materials and labor. Although the company has undertaken several pricing actions, inflation is likely to have increased for raw materials, freight and labor. The company expects uncovered supply to impact first-quarter results to some extent.
What the Zacks Model Unveils
Our proven model doesn’t not conclusively predict an earnings beat for PGT Innovations this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Currently, PGTI has a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%.
Some Recent Building Products - Miscellaneous Releases
Gibraltar Industries, Inc. (ROCK - Free Report) reported better-than-expected first-quarter 2022 results despite persistent supply-chain issues impacting solar customers, the solar industry and the Renewables business.
ROCK’s earnings topped analysts’ expectations in one of the trailing four quarters, with an average negative of 8.6%.
Armstrong World Industries, Inc. (AWI - Free Report) reported unimpressive results in first-quarter 2022. The top and the bottom line missed their respective Zacks Consensus Estimate but increased on a year-over-year basis. The upside can be attributed to solid pricing actions and strong execution of growth opportunities in the Architectural Specialties segment and digital and Healthy Spaces initiatives.
Armstrong World noted that lower Mineral Fiber sales volumes and equity earnings, primarily due to reductions in distributor inventory levels, affected the results.
TopBuild Corp. (BLD - Free Report) reported better-than-expected results for first-quarter 2022. Its earnings and revenues surpassed their respective Zacks Consensus Estimate and increased year over year.
Strong demand coupled with its ongoing focus on managing price, achieving operational efficiency improvements and leveraging fixed costs drove the results for BLD.
Image: Bigstock
PGT Innovations (PGTI) to Post Q1 Earnings: What to Expect?
PGT Innovations, Inc. is scheduled to report first-quarter 2022 results on May 12, before the opening bell.
In the last reported quarter, the company’s earnings and revenues surpassed their respective Zacks Consensus Estimate by 3.3% and 1.7%. On a year-over-year basis, the metrics increased 72% and 37%, respectively, driven by actions undertaken in 2021 to increase hiring and employee training, make strategic acquisitions, implement manufacturing improvements, and secure key inputs supplies like glass and aluminum.
The company’s earnings surpassed the consensus mark in four of the trailing five quarters.
The Trend in Estimate Revision
The Zacks Consensus Estimate for PGT Innovations’ first-quarter earnings is pegged at 37 cents per share, suggesting an increase of 37% from the year-ago quarter’s figure of 27 cents. The consensus estimate for net sales is pegged at $336.23 million, indicating a 24% increase from the prior-year quarter’s figure.
Factors to Note
PGT Innovations’ earnings and revenues in first-quarter 2022 will likely improve year over year. The company has been benefiting from strong pricing, accretive acquisitions and manufacturing capabilities. The company’s effort to increase production to meet demand is likely to have paid off.
PGT, Inc. Price and EPS Surprise
PGT, Inc. price-eps-surprise | PGT, Inc. Quote
The company has been witnessing strong growth in both R&R and new construction markets. Additionally, growth across several key states, including Florida, Texas, and Arizona, is adding to the positives.
Yet, its bottom line is expected to have pressurized in the quarter to be reported, thanks to intense inflationary pressure, particularly on input materials and labor. Although the company has undertaken several pricing actions, inflation is likely to have increased for raw materials, freight and labor. The company expects uncovered supply to impact first-quarter results to some extent.
What the Zacks Model Unveils
Our proven model doesn’t not conclusively predict an earnings beat for PGT Innovations this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Currently, PGTI has a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Some Recent Building Products - Miscellaneous Releases
Gibraltar Industries, Inc. (ROCK - Free Report) reported better-than-expected first-quarter 2022 results despite persistent supply-chain issues impacting solar customers, the solar industry and the Renewables business.
ROCK’s earnings topped analysts’ expectations in one of the trailing four quarters, with an average negative of 8.6%.
Armstrong World Industries, Inc. (AWI - Free Report) reported unimpressive results in first-quarter 2022. The top and the bottom line missed their respective Zacks Consensus Estimate but increased on a year-over-year basis. The upside can be attributed to solid pricing actions and strong execution of growth opportunities in the Architectural Specialties segment and digital and Healthy Spaces initiatives.
Armstrong World noted that lower Mineral Fiber sales volumes and equity earnings, primarily due to reductions in distributor inventory levels, affected the results.
TopBuild Corp. (BLD - Free Report) reported better-than-expected results for first-quarter 2022. Its earnings and revenues surpassed their respective Zacks Consensus Estimate and increased year over year.
Strong demand coupled with its ongoing focus on managing price, achieving operational efficiency improvements and leveraging fixed costs drove the results for BLD.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.