PGT Innovations, Inc.
pgtinnovations.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2023 10-K, filed Feb 23, 2024. Its latest SEC filing is a 15-12G from Apr 8, 2024.
10-K for FY2023, filed Feb 23, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Manufactures impact-resistant windows and doors and overhead garage doors for homeowners, builders, and dealers.
10-K for FY2023, filed Feb 23, 2024PGT Innovations, Inc. (“we,” “us,” “our,” “PGTI” or the “Company”) manufactures and supplies premium windows and doors and fully…View ↗
Martin is headquartered in Salt Lake City, Utah with an operating history exceeding 85 years and is a leading custom manufacturer of…View ↗
Our sales strategy primarily focuses on strengthening partnerships with our loyal distributors and dealers in the repair and remodel, and…View ↗
How Did They Make Money?
Customers are charged for custom products as manufacturing progresses, with payment terms of 30 days. Standard Western products are generally paid for when delivered.
10-K for FY2023, filed Feb 23, 2024The Company primarily manufactures fully customized windows and doors based on design specifications, measurements, colors, finishes…View ↗
Based on these factors, the Company recognizes a substantial portion of revenue over time during the manufacturing process once…View ↗
The Company’s Western segment includes both custom and volume products. This segment’s volume products are not made-to-order and are of…View ↗
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10-K for FY2023, filed Feb 23, 2024
FY2023 revenue by product or service ↗
$1.5B
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10-K for FY2023, filed Feb 23, 2024
$1.5B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Impact-Resistant Window and Door Products
|
62% |
Impact-Resistant Window and Door Products, FY2023
$926.3M Sources
|
|
Non-Impact Window and Door Products
|
38% |
Non-Impact Window and Door Products, FY2023
$577.9M Sources
|
Who Were Their Customers?
Dealers, distributors, replacement dealers, enclosure contractors, and garage door installers buy through the company’s network. It also sells directly to consumers and works with national homebuilders, who generally purchase through dealers and distributors.
10-K for FY2023, filed Feb 23, 2024The geographic regions in which we currently conduct business include the Southeastern U.S., Western U.S., Gulf Coast, and the Coastal…View ↗
Our sales strategy primarily focuses on strengthening partnerships with our loyal distributors and dealers in the repair and remodel, and…View ↗
We have a highly diversified base of nearly 4,000 window distributors, building supply distributors, window replacement dealers and…View ↗
We generally do not supply our products directly to homebuilders, but believe demand for our products is also a function of our strong…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 7 cents of every revenue dollar as net income in FY2023 and turned 8 cents into free cash flow.
10-K for FY2023, filed Feb 23, 2024
$179.2MView ↗
10-K for FY2023, filed Feb 23, 2024
$109MView ↗
10-K for FY2023, filed Feb 23, 2024
$127.4MView ↗
How Were They Changing?
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Mar 28, 2024
MITER Brands completed its acquisition of PGT Innovations
PGT Innovations became a wholly owned subsidiary, and its shares ceased trading on the NYSE.
Sources
8-K, filed Mar 28, 2024
As a result of the Merger, a change in control of PGTI occurred, and PGTI is now a wholly owned subsidiary of Parent. The total amount of…View ↗
Grew. Revenue grew 2.0x in 4 years, from $745M in FY2019 to $1.5B in FY2023, about 19% a year.
Overhead garage doors
The latest report includes premium overhead garage doors in the product portfolio and identifies Martin as a custom garage door manufacturer; the older report describes windows and doors without this product line.
10-K for FY2020, filed Mar 2, 2021 10-K for FY2023, filed Feb 23, 2024PGT Innovations, Inc. (“we,” “us,” “our,” “PGTI” or the “Company”) manufactures and supplies premium windows and doors. Its…View ↗
PGT Innovations, Inc. (“we,” “us,” “our,” “PGTI” or the “Company”) manufactures and supplies premium windows and doors and fully…View ↗
With the addition of Martin, we expanded into an adjacent window and door category by adding premium overhead garage doors to our product…View ↗
Martin is headquartered in Salt Lake City, Utah with an operating history exceeding 85 years and is a leading custom manufacturer of…View ↗
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