Apogee jumps after raising annual profit forecast

Apogee Enterprises

20/09/2022 13:56

** Shares of architectural products provider Apogee
Enterprises Inc  APOG.O  rise ~6% to $41.68 premarket
    ** Stock set to break five consecutive sessions of losses,
if current gains hold
    ** APOG lifts its FY profit forecast after topping Wall
Street estimates for Q2 results, driven by higher prices and
increased demand  urn:newsml:reuters.com:*:nTUA7WSGJT
    ** Co now expects full-year adjusted earnings between $3.75
and $4.05 per share, up from $3.50 to $3.90 per share projected
previously 
    ** APOG posts Q2 adj. EPS of $1.06 on revenue of $372.1 mln,
topping estimates for EPS of 83 cents on revenue of $344.6 mln,
according to Refinitiv data 
    ** Up to Monday's close, stock had fallen ~18% this year

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))