Architectural products firm Apogee Q2 net sales beat estimates

Overview

• Apogee Enterprises Inc Q2 net sales rise 4.6% to $358 mln, beating analyst expectations

• Adjusted EPS for Q2 beats analyst expectations at $0.98

• Company's Q2 adjusted EBITDA margin fell due to lower prices and unfavorable mix

Outlook

• Company expects fiscal 2026 net sales of $1.39 bln to $1.42 bln

• Apogee forecasts fiscal 2026 diluted EPS of $2.79 to $3.19

• Company projects fiscal 2026 adjusted diluted EPS of $3.60 to $3.90

Result Drivers

• INORGANIC GROWTH - Acquisition of UW Solutions contributed $24.9 mln to net sales, boosting Performance Surfaces segment

• HIGHER COSTS - Gross margin decreased due to higher material, tariff, and health insurance costs, partially offset by lower incentive compensation expense

• ARCHITECTURAL SERVICES - Increased volume in Architectural Services drove segment sales growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction supplies & fixtures peer group is "buy"

• Wall Street's median 12-month price target for Apogee Enterprises Inc is $51.75, about 16.3% above its October 8 closing price of $43.32

Press Release: ID:nBw6zxT3Ma

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.