Apogee Enterprises Inc - APOG STOCK NEWS

Apogee Enterprises, Inc. (Nasdaq: APOG) has appointed Matt Osberg as the new Executive Vice President and Chief Financial Officer, effective April 28, 2023. Osberg brings over 20 years of financial leadership experience, including his recent role as CFO at Helen of Troy Limited and prior positions at Best Buy Co., Inc. CEO Ty R. Silberhorn expressed confidence in Osberg's ability to drive results and add value to the company. Mark Augdahl, the interim CFO, will return to his position as Vice President of Finance for the Architectural Glass segment.

Apogee Enterprises, Inc. (Nasdaq: APOG) declared a quarterly cash dividend of $0.24 per share, marking a 9% increase from $0.22. This dividend is payable on February 15, 2023, to shareholders of record on January 31, 2023. This milestone represents Apogee’s tenth consecutive year of dividend increases, with total growth of 167% since the dividend was $0.09 per share. CEO Ty R. Silberhorn attributed this increase to strong operational performance and cash flow generation.

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 $0.22 per share. This dividend will be payable on November 9, 2022, to shareholders recorded by the close of business on October 25, 2022. Apogee specializes in architectural products and high-performance glass, providing comprehensive solutions for building enclosures. The company is headquartered in Minneapolis, MN.

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.