Glass products maker Apogee Enterprises' Q3 sales miss estimates

Overview

• Architectural products provider's fiscal Q3 net sales rose 2.1%, missing analyst expectations

• Adjusted EPS for fiscal Q3 met analyst expectations

• Company's sales growth driven by UW Solutions acquisition and favorable product mix

• Appoints Mark Augdahl as interim CFO

Outlook

• Apogee expects fiscal 2026 net sales of approximately $1.39 bln

• Company projects fiscal 2026 adjusted diluted EPS between $3.40 and $3.50

• Apogee anticipates fiscal 2026 diluted EPS between $2.49 and $2.65

Result Drivers

• INORGANIC SALES - Net sales increase driven by $18.4 mln from UW Solutions acquisition and favorable product mix

• HIGHER COSTS - Gross margin decreased due to lower volume, higher aluminum, restructuring, and health insurance costs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "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 $48.00, about 28.7% above its January 6 closing price of $37.29

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nBw2jjkYWa

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