Friday, Apogee Enterprises (NASDAQ: APOG) reported its first-quarter results before market open. The company delivered better-than-expected earnings and revenue, despite a decline in revenue compared to a year earlier.
Apogee Enterprises disclosed adjusted earnings of $0.57 per share for the first quarter, surpassing Wall Street expectations of $0.45 per share.
In terms of revenue, the firm announced $342.68 million, exceeding consensus estimates of $333.84 million.
Earnings grew by 1.8 percent year-over-year, while revenue decreased by 1.1 percent from the prior-year quarter.
In the first quarter, gross margin rose 20 basis points to 21.9 percent, primarily due to price and productivity improvements, including savings from Project Fortify 2, and a favorable mix.
Operating income increased to $18.8 million from $6.9 million, and operating margin increased 350 basis points to 5.5 percent. Adjusted EBITDA decreased to $32.1 million from $34.4 million, with the adjusted EBITDA margin decreasing to 9.4 percent from 9.9 percent.
For the fiscal year 2027, Apogee Enterprises outlined earnings projections in the range of $2.70 to $3.25 per share, compared with analyst expectations of $2.86 per share. Revenue projections were set between $1.38 billion and $1.43 billion, versus consensus estimates of $1.41 billion.
Donald Nolan, Executive Chair and CEO, stated, “Our results for the quarter reflect solid execution as our team effectively navigated a dynamic operating environment. We continued to advance our strategic priorities while maintaining strong operational performance across the business.”
In pre-market trading, Apogee Enterprises is up 12.12 percent at $47.63. This marks a gain of $5.15 from the previous close of $42.48. The stock has a 52-week low of 30.75 and high of 49.99.
