2015 Top 50 Glaziers: The Market

Sales continue to expand for Top 50 Glaziers in 2014

2014 marked another year of growth for most Top 50 Glaziers, with 71 percent of companies reporting an increase in sales from 2013 to 2014, and 29 percent reporting a decrease in year-over-year sales. This marks back-to-back improvements in sales for the majority of Top 50 glaziers, as 74 percent of glaziers reported y-o-y sales increases from 2012 to 2013. See The Trends for additional historical sales data.

Once again, the majority of Glass Magazine’s Top 50 Glaziers—29 companies—reported sales between $10 million and $30 million in 2014. Additionally, the glaziers with the highest levels of sales volumes in 2014 reported strong years. Four companies reported sales topping $200 million in 2014, compared to just one company in 2013. And, one additional sales range category was added: $300 million to $400 million.

Of the companies reporting y-o-y sales increases, 10 companies reported sales increases of 50 percent or more. Of those, four companies—D-M Products Inc., Kovach Inc., Sunset Glazing and Wind Ready—reported sales increases of 100 percent or more. Five companies reported sales increases of 25 to 50 percent, and 19 companies saw sales increase 0 to 25 percent.

Of companies reporting y-o-y decreases, 11 companies saw decreases of 25 percent or less. Three companies saw sales decline more than 25 percent.

In 2014, glaziers reported a strong uptick in bid levels, with 79 percent of Top 50 companies reporting an increase compared to 2013. Competition for projects remained mostly unchanged from 2013, with about 60 percent of companies reporting levels were about the same in 2014, and only 14 percent reporting that competition had increased. Profit margins and employment levels were also on the rise, with about 50 percent of companies reporting increases in both. Only 12 percent of companies reported a decrease in profit margins, and 22 percent of companies reported a decrease in employment levels.

The West and Northeast saw the highest percent change in sales for contract glaziers in 2014. The average year-over-year sales increase for all locations in the West was 27.6 percent, and in the Northeast was 27.2 percent. Glaziers in the South saw average sales growth of 22.8 percent. Average sales in the Midwest, however, were down 0.7 percent y-o-y.

Among states with at least four locations of Top 50 glaziers, the five states reporting highest average y-o-y sales were: Pennsylvania (71.2 percent), Texas (41.6 percent), Colorado (39.3 percent), Florida (22.5 percent) and California (21.7 percent).

*For states with at least four locations of Top 50 glaziers

New construction continues to dominate work for Top 50 Glaziers. The majority of companies—66 percent—reported less than 25 percent of work in 2014 was for renovation projects. Only two percent of companies reported that renovation constituted more than half of their workload during the year.

Among reporting contract glaziers, commercial projects accounted for an average of 43.6 percent of jobs during 2014, with office projects leading at 31.3 percent. Institutional projects accounted for an average of 42 percent of jobs, with educational projects coming in at 20.6 percent followed by healthcare at 16.1 percent. Multifamily projects also had a strong year, accounting for an average of 10.7 percent of projects.

See also the 2015 Top 50 Glaziers...
Intro
The List
The Projects
The Market
The Trends