PGT Innovations reports Q4 EPS 27c, consensus 28c

Reports Q4 revenue $341M, consensus $334.12M."In the fourth quarter of 2022, we generated $44M of operating cash flow, ending the fiscal year with a cash balance $67M" said John Kunz, Senior Vice President and Chief Financial Officer. "For the full year, we generated over $151 million in free cash flow, a great source to fund our capital priorities," added Kunz. "The strong 28 percent full-year sales growth for 2022 was driven by operational improvements and the impact of price increases, offsetting a reduction in unit demand and backlog. Our organic backlog declined $126 million during the year. With the uncertainty in macro-economic conditions, higher interest rates and an inflationary environment, we are issuing first quarter 2023 guidance for net sales in the range of $370 million to $390 million, and Adjusted EBITDA in the range of $60 million to $64 million," concluded Kunz.