Apogee Q2 Earnings Beat
Apogee Enterprises Raises Full-Year Outlook as Second-Quarter Results Exceed Expectations
Anonymous
Apogee Enterprises reported stronger-than-expected second-quarter fiscal 2027 results, with adjusted earnings of $1.17 per share and revenue of about $391 million, both ahead of analyst estimates. The company raised its full-year outlook, projecting adjusted earnings of $3.00 to $3.40 per share and sales of $1.46 billion to $1.50 billion. Management cited strong execution, pricing, productivity improvements and contributions from the Kalwall acquisition, while noting a mixed demand environment; it also pointed to Groglass as a strategic addition. Shares rose sharply in premarket trading after the results.
Key Points
1
Despite higher operating profitability, Apogee reported lower quarterly net earnings; gross margin increased 150 basis points, with price, productivity improvements and Kalwall contributing, partly offset by higher material and manufacturing costs.
2
Apogee said lower sales volume partly offset the quarter’s sales growth, which was supported by the Kalwall acquisition, pricing and favorable product mix.
3
The company declared a quarterly cash dividend of $0.27 per share, payable November 4, 2026, to shareholders of record on October 20.
4
Apogee’s $1.17 adjusted EPS was 54 cents above the analyst estimate of $0.63; its $391.13 million in revenue compared with a consensus estimate of $359.46 million.
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