Glass Maker Apogee Enterprises Surges on Monster Quarter and Guidance Boost

Dow Jones
2小時前

Shares of Apogee Enterprises rose sharply after the provider of architectural materials, including exterior glass, boosted its guidance for the current fiscal year, citing better-than-expected earnings from its fiscal second quarter.

The company said Tuesday it raised its fiscal 2027 outlook thanks to its stronger-than-expected first-half performance and recent acquisitions of Kalwall, a transcluent daylighting solutions company, and glass manufacturer Groglass.

Apogee Enterprises now anticipates net sales to range from $1.46 billion to $1.5 billion in fiscal 2027, up from a previous guidance of $1.38 billion to $1.43 billion. Adjusted earnings are now projected to range from $3 to $3.40 a share, above a prior outlook of $2.70 to $3.25.

Shares of Apogee Enterprises gained 20.3% to $42.89 in premarket trading Tuesday. The stock has declined 2.1% this year.

In the second quarter, Apogee Enterprises posted adjusted earnings of $1.17 a share, well above Wall Street’s calls for 59 cents, on revenue of $391.1 million, topping analysts’ estimates of $362.6 million. Revenue grew 9.2% from the year before.

Apogee Enterprises, based in Minneapolis, makes and installs the outer glass, metal framing, and windows for commercial buildings. The company is known for supplying the high-performance exterior glass for the One World Trade Center in New York City.

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