Why PGT Innovations Stock Jumped 27% Today
Shares of window and door maker PGT Innovations (NYSE: PGTI) started the day on fire, rising by as much as 27% in the first 30 minutes of trading. There was no question about why: The industrial company reported solid earnings. But there was more to the jump than that.
The headline numbers for PGT Innovations were pretty good. First-quarter 2020 sales came in 27% higher than the year-ago period, helped along by an acquisition. Adjusted net income per share was up even more, rising an impressive 75% year over year. The company clearly had a good quarter despite the impact of COVID-19. But, like so many companies, PGT highlighted a significant slowdown in demand in April.
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Source Fool.com
