NORTH VENICE, Fla.–PGT Innovations, Inc. (NYSE: PGTI), a national brand and innovation leader in the fenestration and garage door industries, was recently named on Forbes’ 2024 America’s Most Successful Small-Cap Companies list.
The complete list includes 100 U.S. companies across 22 industry categories. At no. 71, PGT Innovations ranked among 13 other organizations in the construction category. This is the fourth consecutive year the company has been selected to the list.
“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,” said Jeff Jackson, President and CEO of PGT Innovations. “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 (CAGR) of 24 percent in sales and 26 percent 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.”
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.
PGT Innovations has demonstrated consistent, significant growth in recent years, with CAGRs of 23.93 percent in net sales and 27.09 percent in net income from 2012 to 2022. Other notable accomplishments for the national leader 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, PGT Innovations also made several milestone announcements, including a first-of-its-kind collaboration with Corning Incorporated 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 (IGU) as a glass package option within its PGT Custom Windows and Doors’ EnergyVue window product line, and the establishment of Triple Diamond GlassTM, a new state-of-the-art facility strategically located in Prince George, Virginia.