Apogee Enterprises Inc - APOG STOCK NEWS

Apogee Enterprises (APOG) reported its fiscal 2025 third quarter results with net sales of $341.3 million, a slight increase of 0.5% year-over-year. The company completed the acquisition of UW Solutions for $242 million in cash, expanding its LSO segment capabilities.

Key financial metrics showed mixed performance: Operating margin decreased to 8.4% (10.4% adjusted) from 11.1% last year, while diluted EPS declined to $0.96 ($1.19 adjusted) from $1.23. The company generated year-to-date operating cash flow of $95.1 million.

Due to soft market conditions, Apogee revised its fiscal 2025 outlook, now expecting full-year net sales to decline approximately 5%. The company projects adjusted diluted EPS to be at the bottom of its guidance range of $4.90 to $5.20, including a $0.05 dilution impact from the UW Solutions acquisition.

Apogee Enterprises (APOG) has scheduled the release of its fiscal 2025 third quarter financial results for Tuesday, January 7, 2025, before market opening. The company will host a conference call at 8:00 a.m. Central Time on the same day to discuss the results. Investors can access the webcast through the Investors section of Apogee's website. A replay and transcript will be made available on the company's website for those unable to attend the live event.

Apogee Enterprises (APOG) has completed its acquisition of UW Solutions, a manufacturer of high-performance coated substrates, for $242 million in cash. The acquisition expands Apogee's Large-Scale Optical segment capabilities and market opportunities. In fiscal 2025, the acquisition is expected to add $30 million in net sales but decrease adjusted diluted EPS by $0.10 due to increased interest and amortization expenses. By fiscal 2026, the acquisition is projected to be EPS accretive, contributing $100 million in revenue with an adjusted EBITDA margin of 20%.

Apogee Enterprises (Nasdaq: APOG) reported its fiscal 2025 second quarter results, showing a 3.2% decrease in net sales to $342 million. Despite this, the company saw improvements in profitability metrics:

- Operating margin increased to 12.3%
- Adjusted operating margin improved by 110 bps to 12.6%
- Diluted EPS was $1.40
- Adjusted diluted EPS increased 6% to $1.44

The company's performance was driven by improved pricing, favorable project mix, and cost management. Apogee is raising its full-year EPS outlook and expects continued success with the recently announced acquisition of UW Solutions. The company also reported improved year-to-date cash flow from operations, reaching $64 million.

Apogee Enterprises, Inc. (Nasdaq: APOG) has announced a quarterly cash dividend declaration by its Board of Directors. The dividend amount is set at $0.25 per share. Shareholders who are on record at the close of business on October 22, 2024, will be eligible to receive the dividend. The payment is scheduled for November 6, 2024. This announcement demonstrates Apogee's commitment to returning value to its shareholders through regular dividend payments.

Heartwood Partners has announced the signing of a definitive agreement to sell UW Solutions to Apogee Enterprises, Inc. (Nasdaq: APOG) for $240 million. The transaction is expected to close in the fourth quarter of 2024. UW Solutions, headquartered in Louisville, KY, is a leading manufacturer of advanced surface coated products used in graphics and warehouse mezzanine decking applications.

Under Heartwood Partners' ownership, UW Solutions expanded its management team, invested in infrastructure, and acquired RDC Coatings®, becoming a vertically integrated coatings manufacturer. The sale represents the third exit for Heartwood Partners' Fund III and showcases their lower-leverage, current cash yield model's success in delivering returns for investors.

Apogee Enterprises (Nasdaq: APOG) has announced a $240 million acquisition of UW Solutions, a leading manufacturer of high-performance coated substrates. The deal, expected to close in Apogee's fiscal 2025 third quarter, aligns with the company's growth strategy by adding a differentiated business with strong market positions. UW Solutions will be integrated into Apogee's Large-Scale Optical segment, creating a scalable growth platform in specialty coatings and materials.

Key points:

• Expected to contribute over $100 million in revenue with accretive adjusted EBITDA margins
• Operational and cost synergies of $5 million anticipated by fiscal 2027 end
• Expands Apogee's product offerings in non-residential construction
• Transaction to be financed using cash on hand and existing credit facility
• Post-close Consolidated Leverage Ratio expected to be approximately 1.5x

Apogee Enterprises (Nasdaq: APOG) has announced the date for its fiscal 2025 second quarter financial results. The company will release its results on Friday, October 4, 2024, before the market opens. Following the release, Apogee will host a conference call and webcast at 8:00 a.m. Central Time to discuss the financial results.

Investors and interested parties can access the webcast through the Investors section of Apogee's website at https://www.apog.com/events-and-presentations. For those unable to attend the live webcast, a replay and transcript will be made available on the company's website after the event.

Apogee Enterprises, celebrating its 75th anniversary, was founded as Harmon Glass Company in Minneapolis on July 12, 1949. Now boasting 4,400 employees and 15 facilities across the U.S., Canada, and Brazil, Apogee's architectural products adorn various prominent structures worldwide. CEO Ty R. Silberhorn attributes the company's success to its resilience and innovation, emphasizing future growth and team investment. Initially focused on windshield replacement and contract glass installation, Apogee went public in 1971 and reached $1.4 billion in sales in 2023. Key brands include Harmon, Viracon, Alumicor, EFCO, Linetec, Tubelite, and Tru Vue, known for their quality and innovation.