Apogee Enterprises Reports Q2 Earnings and Raises Full-Year Guidance
Apogee Enterprises (APOG) reported second-quarter results for fiscal year 2027, showing revenue growth driven by strategic acquisitions like Kalwall. Net sales reached $391.1 million, up 9.2%, with adjusted diluted EPS at $1.17, a 19.4% increase due to improved operating performance and lower interest expenses. The company raised its full-year net sales guidance from $1.38 billion–$1.43 billion to $1.46 billion–$1.50 billion and adjusted diluted EPS guidance from $2.70–$3.25 to $3.00–$3.40. Despite volume challenges in certain segments, Apogee’s Architectural Services backlog grew 5% year-over-year to $833 million, reflecting strong project awards and the segment's 10th consecutive quarter of growth. The company also announced plans for a Groglass acquisition expected to add $30 million in revenue with an adjusted EBITDA margin of approximately 25%. Management emphasized ongoing cost savings initiatives and progress on integrating acquisitions while navigating challenging market conditions. The firm’s consolidated leverage ratio stood at 1.7 times, and it returned $27.3 million to shareholders through share repurchases and dividends in the first half of fiscal year 2027.
Tickers: $APOG
Topics: acquisition_impact financial_performance guidance_update