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MINNEAPOLIS - Apogee Enterprises, Inc. (NASDAQ:APOG) reported better-than-expected first quarter results and raised its full-year guidance on Friday.
The architectural products maker saw its stock jump 6.25% in pre-market trading after the earnings release.
The company posted adjusted earnings per share of $0.56 for the quarter ended May 31, beating analyst estimates of $0.49. Revenue rose 4.6% YoY to $346.6 million, surpassing expectations of $331.1 million.
"We are pleased to deliver results ahead of our expectations in the first quarter amid challenging market conditions and year-over-year headwinds," said CEO Ty R. Silberhorn.
Apogee raised its fiscal 2026 outlook, now projecting net sales of $1.40 billion to $1.44 billion, up from its previous forecast of $1.37 billion to $1.43 billion. The company also boosted its adjusted EPS guidance to $3.80-$4.20, compared to $3.55-$4.10 previously.
The improved outlook comes despite an expected $0.35 to $0.45 per share headwind from tariffs, which will mostly impact the first half of the fiscal year.
By segment, Architectural Services revenue grew 7.6% to $106.5 million, while Performance Surfaces sales nearly doubled to $42.3 million, boosted by the acquisition of UW Solutions. However, Architectural Metals and Architectural Glass revenues declined.
Apogee ended the quarter with a backlog of $682.9 million in its Architectural Services segment, down slightly from $720.3 million at the end of the previous quarter.
The company’s adjusted EBITDA margin contracted to 9.9% from 15.9% a year ago, primarily due to higher costs and a less favorable mix in some segments.
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