Ply Gem’s Sales Rise in 2016

March 13th, 2017 by Editor

Ply Gem Holdings Inc. reports that its total net sales for 2016 increased 3.9 percent to $1.9 billion.

Net sales for the fourth quarter of 2016 were $462.3 million. Gross profit improved $3.6 million to $103.5 million compared to the fourth quarter of 2015.

Basic and diluted earnings per share were 10 cents for the fourth quarter of 2016 compared to 13 cents for the fourth quarter of 2015. The decrease resulted from a $7.1 million loss on modification of the company’s long-term debt.

“I am pleased by our acceleration of sales growth in the fourth quarter and our strong operating and cash-generating performance,” said Gary E. Robinette, Ply Gem’s Chairman and CEO. “Throughout 2016, our teams delivered profitable growth through improved product pricing, operating performance initiatives and maintaining cost discipline.”

Gross profit margin was 22.4 percent in the fourth quarter of 2016,  which was down 80 basis points from the fourth quarter of 2015. The company says that’s because higher material costs, specifically for PVC resin and aluminum.

Net sales of doors and windows totaled $255.2 million, increasing $14.7 million, or 6.1 percent, compared to $240.4 million in the fourth quarter of 2015. Gross profit margin was 19.1 percent  for the quarter ended December 31, 2016 increasing from 18.5 percent for the quarter ended December 31, 2015.

Ply Gem’s 2017 annual outlook is based on a U.S. single family housing starts market growth assumption of 5 percent to 10 percent and an assumption of 3 percent to 5 percent growth in the U.S. market for big-ticket repair and remodeling.

This article is from Door and Window Market [DWM] magazine's free e-newsletter that covers the latest door and window industry news. Click HERE to sign up—there is no charge. Interested in a deeper dive? Free subscriptions to [DWM] magazine in print or digital format are available. Subscribe at no charge HERE.

Tags: ,

Leave Comment