PGT Innovations Inc. announced that its board of directors approved a share repurchase program with authorization to purchase up to $250 million of its common stock through Feb. 3, 2026.
About the share repurchase
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 three years, may be suspended or discontinued at any time, and does not obligate the company to acquire any amount of common stock.
PGTI’s response
“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,” says Jeff Jackson, PGTI president and CEO.
