Shares of Apogee Enterprises (NASDAQ: APOG) surged 5.45% in after-hours trading on Thursday, following the release of the company's second-quarter financial results that exceeded analyst expectations. The architectural products and services provider demonstrated strong performance despite challenging market conditions.
Apogee reported quarterly earnings of $0.98 per share, significantly outperforming the analyst consensus estimate of $0.84 by 16.53%. While this represents a 31.94% decrease compared to the same period last year, when the company earned $1.44 per share, the better-than-expected results appeared to boost investor confidence.
The company's top-line performance also impressed, with quarterly sales reaching $358.194 million. This figure surpassed the analyst consensus estimate of $351.700 million by 1.85% and marked a 4.60% increase from the $342.440 million reported in the same quarter last year. The solid revenue growth, coupled with the earnings beat, likely contributed to the stock's after-hours rally as investors reacted positively to Apogee's ability to navigate current market challenges and deliver results above expectations.