Ply Gem Holdings, Inc., together with its subsidiaries, manufactures and sells residential and commercial building products primarily in the United States and Canada. The company operates in two segments: Siding, Fencing and Stone; and Windows and Doors. The Siding, Fencing and Stone segment primarily offers vinyl siding and skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC trims and mouldings, J-channels, wide crown moldings, window and door trims, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, vinyl fence, vinyl and composite railing, and stone veneer products, as well as injection molded designer accents, such as shakes...
5020 Weston Parkway
Cary, NC 27513
Founded in 2004
Ply Gem Holdings, Inc Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 1, 2016; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2016
Nov 7 16
Ply Gem Holdings Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 1, 2016. For the quarter, the company reported net sales of $530,392,000 compared to $530,884,000 a year ago. Operating earnings were $68,009,000 compared to $62,001,000 a year ago due to improved gross profit margins and lower SG&A expense as a percentage of net sales. Income before provision for income taxes was $5,627,000 compared to $43,825,000 a year ago. Net income was $54,755,000 or $0.80 per basic and diluted share compared to $41,711,000 or $0.61 per basic and diluted share a year ago. Adjusted EBITDA was $82,482,000 compared to $76,557,000 a year ago. Adjusted Diluted EPS was $0.75 compared to $0.60 a year ago. The modest decrease in net sales can be predominantly attributed to sales performance in Canada where net sales decreased $4.4 million or 7.1% offset by improved but somewhat dampened U.S. market demand. Windows and Doors gross margins contracted slightly by 20 basis points from the third quarter of 2015. The slight contraction in gross margin was primarily driven by lower operating leverage due to volume, higher labor and freight costs in new construction window businesses, partially offset by improved pricing and product mix and realized synergies from the Simonton acquisition. Siding, Fencing and Stone gross margin for the third quarter expanded by 90 basis points and remained strong. The gross margin expansion for the third quarter was primarily driven by favorable leverage on the additional sales volume in the U.S. and lower commodity costs, partially offset by lower average selling prices and decreased operational leverage in Canada.
For the nine months, the company reported net sales of $1,449,551,000 compared to $1,409,266,000 a year ago. Operating earnings were $139,767,000 compared to $93,615,000 a year ago. Income before provision for income taxes was $20,227,000 compared to $21,462,000 a year ago. Net income was $68,824,000 or $1.01 per basic and diluted share compared to $23,224,000 or $0.34 per basic and diluted share a year ago. Adjusted EBITDA was $184,147,000 compared to $141,399,000 a year ago. Adjusted Diluted EPS was $1.16 compared to $0.52 a year ago.
The company expects fourth quarterly adjusted EBITDA to be in the range of $41 to $46 million.
The company expects a full year 2016 adjusted EBITDA of $225 to $230 million.
Ply Gem Holdings, Inc Presents at Deutsche Bank Homebuilding & Building Products Strategic Value Creation Conference, Dec-01-2016 12:40 PM
Nov 7 16
Ply Gem Holdings, Inc Presents at Deutsche Bank Homebuilding & Building Products Strategic Value Creation Conference, Dec-01-2016 12:40 PM. Venue: Deutsche Bank Offices, 60 Wall Street - 47th Floor, New York, NY 10005, United States. Speakers: Pete Maiorano, Investor Relations, Shawn K. Poe, Chief Financial Officer, Executive Vice President, Treasurer and Secretary.
Ply Gem Holdings, Inc Presents at Stephens 2016 Fall Investment Conference, Nov-09-2016 01:00 PM
Oct 26 16
Ply Gem Holdings, Inc Presents at Stephens 2016 Fall Investment Conference, Nov-09-2016 01:00 PM. Venue: The Lotte New York Palace Hotel, New York, New York, United States.