PGT Innovations Named on Forbes’ America's Most Successful Small-Cap Companies List

Rhea-AI Summary

PGT Innovations, Inc. (NYSE: PGTI) has been named on Forbes' 2024 America’s Most Successful Small-Cap Companies list, ranking among 13 other organizations in the construction category. The company has experienced significant growth with a compound annual growth rate (CAGR) of 24 percent in sales and 26 percent in profit over the past 10 years. PGT Innovations has also demonstrated consistent, significant growth in recent years, with CAGRs of 23.93 percent in net sales and 27.09 percent in net income from 2012 to 2022. The company has made several milestone announcements, including collaborations and new product launches.

Insights

Market Research Analyst

The inclusion of PGT Innovations on Forbes' 2024 America’s Most Successful Small-Cap Companies list is indicative of the company's strong financial performance and strategic growth initiatives. The acknowledgment as a top performer within the construction category underscores the company's market position and could potentially influence investor perception positively. The reported compound annual growth rate (CAGR) of 24 percent in sales and 26 percent in profit over the past decade highlights a robust and consistent growth trajectory, which is an attractive metric for investors seeking companies with a proven track record of expanding revenues and profitability.

PGT Innovations' strategic acquisitions and operational expansions, such as the opening of new facilities and retail stores, suggest a proactive approach to scaling operations and capturing market share. The collaboration with Corning Incorporated and the launch of innovative products like Diamond Glass and next-generation thin triple insulated glass units (IGU) demonstrate the company's commitment to innovation and could be a driving force for future growth. These developments are likely to resonate with investors focusing on companies with a strong innovation pipeline and strategic market expansion.

Financial Analyst

PGT Innovations' financial metrics, particularly its impressive CAGRs in net sales and net income, provide a solid basis for evaluating the company's financial health. The exclusion criteria used by Forbes in their ranking methodology, such as positive sales growth and a minimum share price, along with the focus on earnings growth, sales growth, return on equity and total stock return, point towards PGT Innovations' strong financial fundamentals. These criteria are key indicators of a company's efficiency, profitability and shareholder value creation, which are critical factors for investment decisions.

The company's strategic investments and expansion into new markets, as well as its focus on product innovation, are likely to have contributed to its financial success. However, investors should also consider the inherent risks associated with such aggressive growth strategies, including integration risks from acquisitions and the potential for increased competition in the fenestration and garage door industries. It's important to analyze how these factors may affect the company's future financial performance and stock valuation.

Economist

The economic implications of PGT Innovations' growth can be analyzed from a macroeconomic perspective. The construction industry is often seen as a leading indicator of economic health and PGT Innovations' success within this sector may reflect broader economic trends, such as increased construction activity and consumer spending on home improvements. The company's expansion efforts and product innovations could also have positive spillover effects on employment, with the creation of jobs at new facilities and retail stores, as well as through its supply chain.

However, the construction industry is cyclical and sensitive to economic downturns. As such, PGT Innovations' future growth may be influenced by macroeconomic factors, including interest rates, housing market dynamics and consumer confidence. The company's strategic location of a new facility in Prince George, Virginia, suggests a calculated approach to logistics and market access, which could mitigate some of the risks associated with economic fluctuations.

NORTH VENICE, Fla.--(BUSINESS WIRE)-- PGT Innovations, Inc. (NYSE: PGTI), a national brand and innovation leader in the fenestration and garage door industries, was recently named on Forbes' 2024 America’s Most Successful Small-Cap Companies list.

Jeff Jackson, President and CEO of PGT Innovations (Photo: Business Wire)

The complete list includes 100 U.S. companies across 22 industry categories. At no. 71, PGT Innovations ranked among 13 other organizations in the construction category. This is the fourth consecutive year the company has been selected to the list.

“We are honored to be recognized on this list for another year and to be included alongside other successful U.S. companies across various industries,” said Jeff Jackson, President and CEO of PGT Innovations. “We have experienced tremendous growth since our company’s inception in 1980, and particularly over the past 10 years with a compound annual growth rate (CAGR) of 24 percent in sales and 26 percent in profit. This performance is a testament to our team’s commitment to excellence and strategic foresight, and we are immensely grateful to the more than 5,500 team members across our family of brands who have contributed to this achievement.”

To produce its list, Forbes used data from FactSet to identify 389 companies that had positive sales growth over the past 12 months and a share price of at least $5. Financial institutions, REITs, utilities, royalty trusts and limited partnerships were excluded, as were companies that have been public for less than one year. The stocks were ranked based on earnings growth, sales growth, return on equity, and total stock return for the latest 12 months available and over the last five years.

PGT Innovations has demonstrated consistent, significant growth in recent years, with CAGRs of 23.93 percent in net sales and 27.09 percent in net income from 2012 to 2022. Other notable accomplishments for the national leader include acquiring five companies in four states over five years; expanding existing operations with two new facilities; and opening nine new retail stores in five states over three years.

In 2023, PGT Innovations also made several milestone announcements, including a first-of-its-kind collaboration with Corning Incorporated to produce next-generation glass technology, the launch of Diamond Glass production at its Venice headquarters, the introduction of next-generation thin triple insulated glass units (IGU) as a glass package option within its PGT Custom Windows and Doors’ EnergyVue window product line, and the establishment of Triple Diamond Glass^TM, a new state-of-the-art facility strategically located in Prince George, Virginia.

About PGT Innovations, Inc.

PGT Innovations is a national brand and innovation leader in the fenestration and garage door industries. The company’s portfolio includes highly engineered and technically advanced products that can withstand some of the toughest weather conditions on Earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces.

PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves, and a drive to develop category-defining products. Through its brands, PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors and holds the leadership position in its primary market.

The PGT Innovations family includes Triple Diamond Glass™, a wholly owned subsidiary, and brands CGI^®, PGT^®Custom Windows and Doors, WinDoor^®, Western Window Systems, Anlin Windows & Doors, Eze-Breeze^®, Eco Window Systems, NewSouth Window Solutions, and Martin Door. The company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. Their high-quality products are available in custom and standard sizes with massive dimensions that allow for unlimited design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240125784373/en/

PGT Innovations Contact

Media Relations

Tyler Stover, Sr. Communications Specialist

TStover@PGTIndustries.com

941-480-1600

Source: PGT Innovations, Inc.

FAQ

What is the ticker symbol for PGT Innovations?

The ticker symbol for PGT Innovations is PGTI.

What is the compound annual growth rate (CAGR) for PGT Innovations in sales and profit over the past 10 years?

PGT Innovations has experienced a CAGR of 24 percent in sales and 26 percent in profit over the past 10 years.

How many companies were included in Forbes' 2024 America’s Most Successful Small-Cap Companies list?

The complete list includes 100 U.S. companies across 22 industry categories.

What notable accomplishments has PGT Innovations made in recent years?

PGT Innovations has made several milestone announcements, including collaborations with Corning Incorporated, new product launches, and acquisitions.