Free Research Report as NCI’s Sales Advanced 8.7%

Stock Monitor: Apogee Enterprises Post Earnings Reporting

LONDON, UK / ACCESSWIRE / July 5, 2018 / If you want access to our free earnings report on NCI Building Systems, Inc. (NYSE: NCS) (“NCI”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NCS. The Company reported its second quarter fiscal 2018 operating and financial results on June 05, 2018. The maker of products used in commercial buildings outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Apogee Enterprises, Inc. (NASDAQ: APOG), which also belongs to the Industrial Goods sector as the Company NCI Building Systems. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, NCI Building Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, NCI’s sales increased 8.7% to $457.1 million, up from $420.5 million in Q2 FY17, primarily driven by a continued commercial discipline in the pass-through of higher material costs across the Company’s segments. NCI’s revenue numbers beat analysts’ estimates of $443.0 million.

During Q2 FY18, NCI’s gross profit rose 3.2% to $104.1 million compared to $100.8 million in Q2 FY17. The Company’s gross profit margin was 22.8% in the reported quarter compared to 24.0% in the prior year’s same quarter. NCI’s gross margin for Q2 FY18 was lower on a y-o-y basis, primarily as a result of a less favorable product mix in the IMP segment and incremental manufacturing costs in the Metal Coil Coating segment.

For Q2 FY18, NCI’s engineering, selling, general, and administrative (ESG&A) expenses were $74.4 million compared to $75.1 million in Q2 FY17. The Company’s ESG&A expenses as a percentage of revenues were 16.3% in the reported quarter versus 17.9% in the prior year’s comparable quarter.

NCI’s operating income was $19.0 million in Q2 FY18, including a $6.7 million charge related to the sale of CENTRIA’s manufacturing facility in China, compared to an operating income of $32.5 million in Q2 FY17. The Company’s adjusted operating income rose 15.3% to $27.3 million in the reported quarter compared to $23.6 million in the year earlier corresponding quarter.

For Q2 FY18, NCI’s net loss applicable to common shares was $5.7 million, or $0.09 loss per diluted common share, compared to a net income of $16.9 million, or $0.24 per diluted common share, in Q2 FY17. The Company’s results for the reported quarter were impacted by a $21.9 million charge related to the extinguishment and refinancing of a portion of the Company’s debt; a $6.7 million charge on the disposition of CENTRIA’s China operations; a $1.1 million charge for strategic development and acquisition related costs; and $0.5 million of restructuring and impairment charges.

NCI reported an adjusted net income of $16.4 million, or $0.25 per diluted common share, in Q2 FY18 compared to $11.5 million, or $0.16 per diluted common share, in Q2 FY17; which was ahead of Wall Street’s estimates of $0.18 per share. The Company’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $39.7 million in the reported quarter compared to $37.0 million in the prior year’s same quarter.

Segment Performance

During Q2 FY18, NCI’s Engineered Building Systems segment’s sales were $167.2 million compared to $162.6 million in Q2 FY17, primarily as a result of commercial discipline passing through higher input costs. The segment’s operating income surged 34.5% to $9.3 million in the reported quarter versus $6.9 million in the prior year’s comparable quarter, while its adjusted operating income advanced 32.3% to $9.6 million in Q2 FY18 compared to $7.2 million in Q2 FY17.

For Q2 FY18, NCI’s Metal Components segment generated sales of $168.5 million, reflecting an increase of 8.8% from $154.9 million in Q2 FY17, which was led by higher external volumes across the segment and the disciplined pass-through of increasing input costs. The segment’s operating income was $22.1 million in the reported quarter compared to $20.0 million in the year earlier corresponding quarter; while its adjusted operating income was $22.2 million in Q2 FY18 compared to $19.7 million in in Q2 FY17. The segment’s operating margin increased as a result of an improved operating leverage on higher volumes.

During Q2 FY18, NCI’s IMP segment generated sales of $113.4 million, up 10.2% compared to $102.9 million in Q2 FY17, as a result of commercial discipline emphasizing project profitability over volume in a period of increasing input costs. The segment’s operating income was $1.5 million in the reported quarter compared to $19.4 million in the prior year’s same quarter. The segment’s adjusted operating income came in at $8.4 million in Q2 FY18 compared to $10.4 million in Q2 FY17.

For Q2 FY18, NCI’s Metal Coil Coating (MCC) segment’s sales gained 9.8% to $95.2 million compared to $86.7 million in Q2 FY17, as a result of higher volumes in package sales and the pass-through of rising material costs. The segment’s operating income and adjusted operating income were both $7.1 million in the reported quarter versus $6.2 million in the year earlier comparable quarter.

Cash Matters

NCI’s cash and cash equivalents were $35.3 million at the end of Q2 FY18 compared to $49.7 million at the end of Q2 FY17. As of April 29, 2018, the Company’s $150.0 million asset-based lending (ABL) facility remained undrawn.

Outlook

For the third quarter of the fiscal year 2018, NCI is forecasting revenues to be in the range of $525 million to $545 million, and adjusted EBITDA to be in the band of $56 million to $66 million.

Stock Performance Snapshot

July 02, 2018 – At Monday’s closing bell, NCI Building Systems’ stock declined 1.17%, ending the trading session at $21.05.

Volume traded for the day: 103.02 thousand shares.

Stock performance in the last month – up 10.21%; previous three-month period – up 18.93%; past twelve-month period – up 21.33%; and year-to-date – up 9.07%

After last Monday’s close, NCI Building Systems’ market cap was at $1.38 billion.

Price to Earnings (P/E) ratio was at 42.27.

The stock is part of the Industrial Goods sector, categorized under the General Building Materials industry. This sector was flat at the end of the session.

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