PGT, Inc. (NASDAQ:PGTI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.15%.
PGT, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.06 in the quarter versus EPS of $-0.01 in the year-earlier quarter.
Revenue: Rose 30.08% to $49.56 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: PGT, Inc. reported adjusted EPS income of $0.06 per share. By that measure, the company beat the mean analyst estimate of $0.03. It beat the average revenue estimate of $45.7 million.
Quoting Management: “In the first quarter of 2013, sales grew to $49.6 million, which is 30.1% over prior year. Improved market conditions during the quarter, and sales and marketing programs focused on our WinGuard products, drove this dramatic increase in top-line sales,” said PGT’s President and Chief Executive Officer, Rod Hershberger.
Key Stats (on next page)…
Revenue increased 9.62% from $45.21 million in the previous quarter. EPS decreased 0% from $0.06 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.09 to a profit $0.11. For the current year, the average estimate has moved up from a profit of $0.25 to a profit of $0.33 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)