Apogee Enterprises Tops 3Q Sales Estimates But Still Faces Soft Demand

Dow Jones

Jan 07

By Denny Jacob

Apogee Enterprises posted higher-than-expected sales in its latest quarter though it continues to face soft demand in its end markets.

The architectural products and services designer and developer logged earnings of about $21 million, or 96 cents a share, for the quarter ended Nov. 30, down from about $27 million, or $1.23 a share, a year earlier.

Stripping out one-time items, earnings came in at $1.19 a share. Analysts polled by FactSet expected $1.10 a share.

Sales ticked up to $341.3 million from $339.7 million. Analysts polled by FactSet expected $332.3 million.

Apogee said the increase in sales was driven by $8.8 million of inorganic sales contribution from its acquisition of UW Solutions and a more favorable mix of projects in its architectural services segment.

Chief Executive Ty R. Silberhorn said Apogee is focused on long-term growth amid ongoing pressure from soft demand in its end markets that is impacting results in the near-term.

Apogee now expects sales for the full year to decline about 5%, which includes about $30 million in contributions from UW Solutions and the impact of lower-than-expected volume in the fourth quarter. It previously forecast sales to decline between 4% and 7%. The Minneapolis company also expects adjusted earnings per-share for the year to be at the bottom of its guidance range of $4.90 to $5.20.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

January 07, 2025 07:29 ET (12:29 GMT)

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The Minneapolis company also expects adjusted earnings per-share for the year to be at the bottom of its guidance range of $4.90 to $5.20. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 07, 2025 07:29 ET (12:29 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"APOG","symbol_name":"Apogee Enterprises","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2501208093","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501208093","pubTimestamp":1736252940,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Apogee Enterprises posted higher-than-expected sales in its latest quarter though it continues to face soft demand in its end markets.The architectural products and services designer and developer logged earnings of about $21 million, or 96 cents a share, for the quarter ended Nov. 30, down from about $27 million, or $1.23 a share, a year earlier.Stripping out one-time items, earnings came in at $1.19 a share. Analysts polled by FactSet expected $1.10 a share.Sales ticked up to $341.3 million from $339.7 million. Analysts polled by FactSet expected $332.3 million.Apogee said the increase in sales was driven by $8.8 million of inorganic sales contribution from its acquisition of UW Solutions and a more favorable mix of projects in its architectural services segment.Apogee now expects sales for the full year to decline about 5%, which includes about $30 million in contributions from UW Solutions and the impact of lower-than-expected volume in the fourth quarter. It previously forecast sa","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"APOG":"Apogee Enterprises"},"translate_title":"Apogee Enterprises第三季度销售超出预期，但仍面临需求疲软","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"APOG":1},"content_text":"By Denny Jacob \n\n\n \n\n\nApogee Enterprises posted higher-than-expected sales in its latest quarter though it continues to face soft demand in its end markets. \n\n\n  The architectural products and services designer and developer logged earnings of about $21 million, or 96 cents a share, for the quarter ended Nov. 30, down from about $27 million, or $1.23 a share, a year earlier. \n\n\n  Stripping out one-time items, earnings came in at $1.19 a share. Analysts polled by FactSet expected $1.10 a share. \n\n\n  Sales ticked up to $341.3 million from $339.7 million. Analysts polled by FactSet expected $332.3 million. \n\n\n  Apogee said the increase in sales was driven by $8.8 million of inorganic sales contribution from its acquisition of UW Solutions and a more favorable mix of projects in its architectural services segment. \n\n\n  Chief Executive Ty R. Silberhorn said Apogee is focused on long-term growth amid ongoing pressure from soft demand in its end markets that is impacting results in the near-term. \n\n\n  Apogee now expects sales for the full year to decline about 5%, which includes about $30 million in contributions from UW Solutions and the impact of lower-than-expected volume in the fourth quarter. It previously forecast sales to decline between 4% and 7%. The Minneapolis company also expects adjusted earnings per-share for the year to be at the bottom of its guidance range of $4.90 to $5.20. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 07, 2025 07:29 ET (12:29 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}