PGT Innovations Inc. was recently named to Forbes' 2024 America’s Most Successful Small-Cap Companies list.
The complete list includes 100 U.S. companies across 22 industry categories. At number 71, PGTI ranked among 13 other organizations in the construction category. This is the fourth consecutive year the company has been selected to the list.
What PGTI says
“We are honored to be recognized on this list for another year and to be included alongside other successful U.S. companies across various industries,” says Jeff Jackson, president and CEO, PGTI. “We have experienced tremendous growth since our company’s inception in 1980, and particularly over the past 10 years with a compound annual growth rate of 24% in sales and 26% in profit. This performance is a testament to our team’s commitment to excellence and strategic foresight, and we are immensely grateful to the more than 5,500 team members across our family of brands who have contributed to this achievement.”
Forbes' process
To produce its list, Forbes used data from FactSet to identify 389 companies that had positive sales growth over the past 12 months and a share price of at least $5. Financial institutions, REITs, utilities, royalty trusts and limited partnerships were excluded, as were companies that have been public for less than one year. The stocks were ranked based on earnings growth, sales growth, return on equity and total stock return for the latest 12 months available and over the last five years.
PGTI's growth
PGTI has demonstrated growth in recent years, with CAGRs of 23.93% in net sales and 27.09% in net income from 2012 to 2022. Other accomplishments for the company include acquiring five companies in four states over five years; expanding existing operations with two new facilities; and opening nine new retail stores in five states over three years.
In 2023, PGTI also made several milestone announcements, including a collaboration with Corning Inc. to produce next-generation glass technology; the launch of Diamond Glass production at its Venice headquarters; the introduction of next-generation, thin-triple insulated glass units as a glass package option within its PGT Custom Windows and Doors’ EnergyVue window product line; and the establishment of Triple Diamond Glass, a new state-of-the-art facility strategically located in Prince George, Virginia.
