Apogee Enterprises Reports Q2 Earnings Beat

Apogee Enterprises Inc APOG reported second-quarterly earnings of 72 cents per share, which beat the analyst consensus estimate of 64 cents by 12.5%. This is a 4% decrease over earnings of 75 cents per share from the same period last year.

The company reported quarterly sales of $357.058 million, which beat the analyst consensus estimate of $352.53 million by 1.28%. This is a 1.40% decrease over sales of $362.133 million the same period last year.

Apogee Enterprises reaffirmed fiscal year 2020 guidance and sales growth at 1%-3%, operating margin at 8.2%-8.6% and EPS at $3-$3.20 versus a $3.05 estimate.

"We delivered solid operational and financial performance in the second-quarter, with results largely in-line with our expectations," said Joseph Puishys, CEO of Apogee Enterprises. "Our Architectural Glass segment made significant year-over-year improvements, with increased revenue and margins, and Architectural Services continued to build on its record backlog."

Apogee Enterprises shares closed Monday at $41.20. The stock has a 52-week range between $49.50 and $26.38.

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