PGT Innovations Inc.  saw its net sales increase 23 percent in the second quarter of 2018 to $169 million, mostly due to strong growth in the company’s repair and remodeling sector.

“Demand for our products continues to grow based on our deep customer relationships and increased awareness of the benefits of our impact-resistant products following last year’s hurricane season,” said Jeff Jackson, the company’s president and CEO. “I am proud of our team’s response to this increased demand and ability to deliver exceptional operating performance that resulted in gross margin improvement of three percentage points in the second quarter compared to last year. The positive impacts of increased demand for our products, and our strong operating performance and solid free cash flow underlie our decision to increase the ranges for all metrics in our guidance for the full year of 2018.”

PGT Innovations saw net income of $21.4 million compared to $10.3 million in the second quarter of 2017. Adjusted earnings per share were 41 cents, vs. 20 cents in 2017’s first quarter.

PGT Innovations now expects to finish 2018 with net sales ranging from $580 million to $600 million.

On July 24, 2018, the company announced it entered into a definitive agreement under which it will acquire Western Window Systems for $360 million in cash, subject to customary adjustments.  The transaction is expected to be completed in the third quarter of 2018.

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