PGT Innovations, Inc. - PGTI STOCK NEWS

PGT Innovations, Inc. (NYSE:PGTI) will announce its financial results for the fourth quarter and fiscal year 2021 on February 17, 2022. The conference call will be hosted by key executives including CEO Jeff Jackson at 10:30 a.m. ET. A press release with financial details will precede the call at 7:30 a.m.

Interested participants can join via phone or online. The company, recognized for its premium windows and doors, operates as the largest manufacturer of impact-resistant solutions in the U.S.

PGT Innovations (NYSE: PGTI) is addressing the skilled labor shortage by launching the 'Pathway to PGTI' program in partnership with Sarasota County Schools. This initiative allows Venice High School students to gain valuable manufacturing experience through hands-on training alongside PGTI mentors. The program not only offers real-world skills but also includes tuition reimbursement to encourage further education. It aims to attract young talent to the manufacturing sector while supporting the company's recruitment efforts.

PGT Innovations (NYSE: PGTI) has been recognized on Forbes' list of Best Small-Cap Companies for the second consecutive year, improving its rank from No. 87 to No. 79. This accolade highlights the company's strong performance among 1,000 screened firms, showcasing its growth in earnings and sales. PGT Innovations, a leading manufacturer of premium windows and doors, is also the largest private employer in Sarasota County, employing approximately 2,500 individuals. The firm is noted for its impact-resistant products that cater to demanding market needs.

PGT Innovations (NYSE: PGTI) announced the appointment of John E. Kunz as Senior Vice President and Chief Financial Officer, effective January 17, 2022. With over 25 years of experience in finance, Kunz will oversee the company’s financial strategy, planning, and reporting. He previously served as CFO at U.S. Concrete, where he led strategic acquisitions. CEO Jeff Jackson expressed confidence in Kunz's leadership abilities, particularly regarding the company's growth strategy. Interim CFO Brad West will return to his position as Senior VP of Corporate Development.

PGT Innovations, a leader in premium windows and doors, reported third-quarter financial results for 2021, showing a 26% increase in net sales, reaching $300 million. This growth was partly due to the consolidation of Eco Enterprises. Gross profit rose 20% to $104 million, but the company reported a net loss of $0.11 per diluted share, primarily due to $25.5 million in debt extinguishment costs. Full-year sales guidance remains at $1.10 billion to $1.20 billion, with adjusted EBITDA expected between $160 million and $190 million.

PGT Innovations (NYSE: PGTI) recently donated $9,580 to Operation Warrior Resolution and Wounded Warrior Project. This donation was made possible by the sale of 958 company-branded RED shirts, raising $4,790, which was then matched by the company. The initiative supports the RED Shirt Friday movement, recognizing deployed troops. Additionally, PGT Innovations provided 'Thank You For Your Service' gift bags to veterans among its workforce of over 100. The company continues to reinforce its commitment to supporting veterans through various initiatives.

PGT Innovations, Inc. (NYSE: PGTI) has completed its acquisition of Anlin Windows & Doors for approximately $126 million. This purchase enhances PGTI's presence on the West Coast, broadening its aluminum and vinyl product platform and dealer network. Anlin generated about $106 million in trailing twelve months sales with a mid-teen adjusted EBITDA margin. The acquisition is expected to be accretive to adjusted EPS within the first year. Additionally, PGTI recently issued $575 million in senior notes to finance the acquisition, aiming to maintain a strong balance sheet.

PGT Innovations, Inc. (NYSE:PGTI) will announce its third quarter 2021 financial results on November 11, 2021, at 7:30 a.m. ET. A teleconference will follow at 10:30 a.m. ET, hosted by CEO Jeff Jackson and Interim CFO Brad West. Investors can join by calling 833-316-0547 (U.S.) or 412-317-5728 (International), with a replay available later that day. PGT Innovations specializes in manufacturing premium impact-resistant windows and doors, holding a leading position in the market and being part of the S&P SmallCap 400 Index.

PGT Innovations, Inc. (NYSE: PGTI) has successfully closed a private offering of $575 million senior notes with a 4.375% interest rate due in 2029. The funds will facilitate the acquisition of Anlin Industries and help redeem $425 million in existing senior notes, alongside repayment of a $54 million term loan. The offering is exempt from registration under the Securities Act and targets qualified buyers. The company also outlines potential risks associated with integrating Anlin and market conditions affecting operations.