PGTI Announces $250 Million Share Repurchase Program
PGT Innovations, Inc., a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced that its Board of Directors has approved a share repurchase program with authorization to purchase up to $250 million of its common stock through February 3, 2026.
“While the actions of the Fed have created near-term uncertainty in our operating environment, we have never been more bullish on the long-term prospects for PGTI. We believe PGTI’s current stock price does not adequately reflect its long-term intrinsic value and this program underscores our confidence in the long-term outlook for our Company. With our strong balance sheet and cash flow, we have the ability to invest in innovation and grow our business, while taking this action to return capital to shareholders,” said Jeff Jackson.
PGTI may repurchase shares of its common stock from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and total amount of stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. The share repurchase program will have a term of 3 years, may be suspended or discontinued at any time, and does not obligate the company to acquire any amount of common stock.
About PGT Innovations, Inc.
PGT Innovations (NYSE: PGTI) manufactures and supplies premium windows, doors, and garage doors. Its highly engineered and technically advanced products can withstand some of the toughest weather conditions on Earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces. PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves, and a drive to develop category-defining products. PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors and holds the leadership position in its primary market. The PGT Innovations’ family of brands include CGI®, PGT®Custom Windows and Doors, WinDoor®, Western Window Systems, Anlin Windows & Doors, Eze-Breeze®, NewSouth Window Solutions, Martin Door and a 75 percent ownership stake in Eco Window Systems. The company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. Their high-quality products are available in custom and standard sizes with massive dimensions that allow for unlimited design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.
Stephanie Cz – Corporate Marketing Manager – SCz@PGTInnovations.com – (941) 480-1600
Source: PGT Innovations, Inc.