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

Dow Jones
01-07
 

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)

Copyright (c) 2025 Dow Jones & Company, Inc.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10