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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