Apogee Enterprises Q2 sales ease past estimates; annual outlook lifted

Apogee Enterprises

06/10/2026 11:42

Overview
US architectural products provider's Q2 net sales rose 9.2%, beating analyst expectations
Adjusted diluted EPS for Q2 increased and beat analyst expectations
Company raised fiscal 2027 adjusted EPS guidance

Outlook
Company raises fiscal 2027 net sales outlook to $1.46 bln-$1.50 bln from $1.38 bln-$1.43 bln
Apogee raises fiscal 2027 adjusted diluted EPS guidance to $3.00-$3.40 from $2.70-$3.25
Company expects fiscal 2027 interest expense of about $15 mln and capex of $35 mln-$40 mln

Result Drivers
ACQUISITIONS AND PRICING - Co said Q2 sales growth was driven by the Kalwall acquisition, higher prices and favorable mix, partially offset by lower volume
PRODUCTIVITY INITIATIVES - Co said gross margin improvement was due to price, productivity gains from Project Fortify 2, and Kalwall acquisition, partially offset by higher costs and lower volume
COST SAVINGS AND COMPENSATION - Co said higher SG&A expenses were mainly due to increased incentive compensation, partially offset by cost savings from Fortify Phase 2

Company press release: ID:nBwbKW78ra

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$391.1 mln
$359.46 mln (3 Analysts)
Q2 Adjusted EPS
Beat
$1.17
$0.63 (3 Analysts)
Q2 EPS
 
$1.07
 
Q2 Net Income
 
$22.4 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "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 $48.00, about 34.6% above its October 5 closing price of $35.66
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 14 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)