Ply Gem Reports Higher Sales in First Quarter

May 9th, 2016 by Editor

Citing an improving U.S. housing market, Ply Gem reported that net sales increased 8.7 percent in the first quarter of 2016 to $408.6 million. Operating earnings increased $23.6 million to $9.6 million compared to the first quarter of 2015. Adjusted loss per share was 20 cents for the first quarter of 2016 vs. 53 cents per share in the first quarter of 2015.

“I am very pleased by the strong first quarter financial and operating performance of the company,” said Gary E. Robinette, Ply Gem’s CEO. “Both businesses continued to make substantial contributions to adjusted EBITDA and allowed us to deliver the eighth consecutive quarterly year-over-year growth of adjusted EBITDA. During the first quarter, our teams delivered profitable growth through improved product pricing, operating performance initiatives and a cost discipline, aided by strong demand for our new residential construction and repair and replacement products largely attributed to favorable winter weather within our key market footprints.”

Net sales for doors and windows totaled $232.2 million, up $12.6 million, or 5.8 percent, compared to $219.6 million in the first quarter of 2015.



Tags: ,

Leave Comment