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Apogee Enterprises Inc. (NASDAQ: APOG), headquartered in Minneapolis, MN, is a renowned leader in the architectural products and services industry. The company specializes in providing innovative value-added glass solutions for commercial buildings and custom picture framing. Apogee operates across four primary segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO).
Apogee's Architectural Framing Systems segment designs, engineers, fabricates, and finishes aluminum frames for customized windows, curtainwall, storefronts, and entrance systems. This segment generates the highest revenue for the company, primarily serving commercial and institutional buildings to enhance aesthetics, energy efficiency, and protective capabilities.
The Architectural Glass segment produces high-performance glass products that include energy-efficient options and blast-protective glazing. These products are essential for modern architecture, furthering Apogee's commitment to sustainability and safety.
In the Architectural Services segment, Apogee provides integrated project management and installation services. This segment manages complex projects, ensuring timely and efficient delivery of large-scale glass installations. The segment's expertise is highlighted in its recent projects, contributing to a significant backlog of contracts.
The Large-Scale Optical Technologies segment focuses on high-performance glass and acrylic products for custom picture framing and displays. These products reduce reflectivity and fading from sunlight, making them ideal for preservation and enhanced viewing.
Apogee has reported robust financial performance, with net sales reaching $362 million in the latest quarter. The company's strategic initiatives, such as Project Fortify, aim to streamline operations, improve cost structures, and focus on high-margin opportunities. These efforts are expected to deliver annualized cost savings of $12 million to $14 million, enhancing long-term profitability.
With a strong commitment to innovation and sustainability, Apogee continues to provide cutting-edge solutions that meet the evolving needs of architects, builders, and customers worldwide. For more information, visit www.apog.com.
Apogee Enterprises, Inc. (Nasdaq: APOG) declared a quarterly cash dividend of
Apogee Enterprises reported a 10.1% revenue increase for Q3, reaching $368 million, compared to $334.2 million in the prior year. Earnings per diluted share surged to $1.07, up from $0.44, reflecting margin gains and improved pricing. Cash from operations stood at $54 million. The company has narrowed its full-year adjusted earnings guidance to $3.90 to $4.05 per share. Architectural Framing Systems and Architectural Glass were significant growth drivers, while Architectural Services faced challenges with lower profitability.
Apogee Enterprises, Inc. (Nasdaq: APOG) is set to release its fiscal 2023 third quarter results on December 22, 2022, before market opening. A conference call is scheduled for 8:00 a.m. Central Time on the same day, allowing investors to discuss the financial results. The webcast will be accessible via the company's Investors section on its website, with a replay available later. Apogee specializes in architectural products and services, including high-performance glass and integrated project management.
Apogee Enterprises, Inc. (Nasdaq: APOG) announced a quarterly cash dividend of
Apogee Enterprises reported strong fiscal Q2 2023 results, with revenue up 14.2% to a record $372.1 million, driven by growth in Architectural Framing Systems and Services. Earnings per diluted share rose to $1.68, benefiting from a $0.62 tax benefit. Adjusted earnings also reached a record at $1.06 per share. The company increased full-year adjusted earnings guidance to $3.75 to $4.05 per share, anticipating 8-10% revenue growth. Despite lower operating cash flow of $27.8 million, Apogee returned $83.9 million to shareholders through buybacks and dividends.
Apogee Enterprises, Inc. (NASDAQ: APOG) is set to report its fiscal 2023 second quarter results on September 20, 2022, before market opens. The financial results will be discussed during a conference call starting at 8:00 a.m. Central Time on the same date. Investors can access the webcast via the company's website. Apogee is a leader in architectural products and services, specializing in high-performance architectural glass and customized framing solutions.
Apogee Enterprises, Inc. (NASDAQ: APOG) has completed an amendment and extension of its senior unsecured credit facility, increasing it to $385 million. The new agreement includes an uncommitted accordion feature for an additional $200 million borrowing capacity and will mature in 2027. Apogee will use this facility to repay its $150 million senior unsecured term loan. CEO Ty R. Silberhorn stated the revised credit facility offers lower borrowing costs and greater flexibility to support the company's strategic direction.
Apogee Enterprises, Inc. (NASDAQ: APOG) announced the resignation of Chief Financial Officer, Nisheet Gupta, effective August 1, 2022. Mr. Gupta is leaving to pursue an opportunity outside the industry. Mark Augdahl, Vice President of Finance for the Architectural Glass segment, has been appointed as interim CFO. CEO Ty R. Silberhorn expressed gratitude for Gupta's contributions, especially during the pandemic, while emphasizing Augdahl's industry expertise during the search for a permanent CFO.
Apogee Enterprises (Nasdaq: APOG) has declared a quarterly cash dividend of
Apogee Enterprises reported a strong fiscal 2023 first quarter, with revenue growing 9.4% to $356.6 million compared to $326.0 million in the prior year. Earnings per diluted share reached $1.00, up from $0.42, driven by improved profitability in its Architectural Framing Systems and Architectural Glass segments. The company increased its full-year adjusted earnings guidance to $3.50 to $3.90 per diluted share, citing strong operational execution despite ongoing cost inflation and supply chain challenges.
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