Apogee Entr Stock Price, News & Analysis

Apogee Enterprises (Nasdaq: APOG) reported its fiscal 2025 second quarter results, showing a 3.2% decrease in net sales to $342 million. Despite this, the company saw improvements in profitability metrics:

- Operating margin increased to 12.3%
- Adjusted operating margin improved by 110 bps to 12.6%
- Diluted EPS was $1.40
- Adjusted diluted EPS increased 6% to $1.44

The company's performance was driven by improved pricing, favorable project mix, and cost management. Apogee is raising its full-year EPS outlook and expects continued success with the recently announced acquisition of UW Solutions. The company also reported improved year-to-date cash flow from operations, reaching $64 million.

Apogee Enterprises, Inc. (Nasdaq: APOG) has announced a quarterly cash dividend declaration by its Board of Directors. The dividend amount is set at $0.25 per share. Shareholders who are on record at the close of business on October 22, 2024, will be eligible to receive the dividend. The payment is scheduled for November 6, 2024. This announcement demonstrates Apogee's commitment to returning value to its shareholders through regular dividend payments.

Heartwood Partners has announced the signing of a definitive agreement to sell UW Solutions to Apogee Enterprises, Inc. (Nasdaq: APOG) for $240 million. The transaction is expected to close in the fourth quarter of 2024. UW Solutions, headquartered in Louisville, KY, is a leading manufacturer of advanced surface coated products used in graphics and warehouse mezzanine decking applications.

Under Heartwood Partners' ownership, UW Solutions expanded its management team, invested in infrastructure, and acquired RDC Coatings®, becoming a vertically integrated coatings manufacturer. The sale represents the third exit for Heartwood Partners' Fund III and showcases their lower-leverage, current cash yield model's success in delivering returns for investors.

Apogee Enterprises (Nasdaq: APOG) has announced a $240 million acquisition of UW Solutions, a leading manufacturer of high-performance coated substrates. The deal, expected to close in Apogee's fiscal 2025 third quarter, aligns with the company's growth strategy by adding a differentiated business with strong market positions. UW Solutions will be integrated into Apogee's Large-Scale Optical segment, creating a scalable growth platform in specialty coatings and materials.

Key points:

• Expected to contribute over $100 million in revenue with accretive adjusted EBITDA margins
• Operational and cost synergies of $5 million anticipated by fiscal 2027 end
• Expands Apogee's product offerings in non-residential construction
• Transaction to be financed using cash on hand and existing credit facility
• Post-close Consolidated Leverage Ratio expected to be approximately 1.5x

Apogee Enterprises (Nasdaq: APOG) has announced the date for its fiscal 2025 second quarter financial results. The company will release its results on Friday, October 4, 2024, before the market opens. Following the release, Apogee will host a conference call and webcast at 8:00 a.m. Central Time to discuss the financial results.

Investors and interested parties can access the webcast through the Investors section of Apogee's website at https://www.apog.com/events-and-presentations. For those unable to attend the live webcast, a replay and transcript will be made available on the company's website after the event.

Apogee Enterprises, celebrating its 75th anniversary, was founded as Harmon Glass Company in Minneapolis on July 12, 1949. Now boasting 4,400 employees and 15 facilities across the U.S., Canada, and Brazil, Apogee's architectural products adorn various prominent structures worldwide. CEO Ty R. Silberhorn attributes the company's success to its resilience and innovation, emphasizing future growth and team investment. Initially focused on windshield replacement and contract glass installation, Apogee went public in 1971 and reached $1.4 billion in sales in 2023. Key brands include Harmon, Viracon, Alumicor, EFCO, Linetec, Tubelite, and Tru Vue, known for their quality and innovation.

Apogee Enterprises (Nasdaq: APOG) released its Q1 fiscal 2025 results, reporting an 8.3% decline in net sales to $331.5 million due to lower volume. However, the company's operating margin improved to 12.5%, and adjusted operating margin reached 12.8%. Diluted EPS grew 34.3% to $1.41, with adjusted diluted EPS increasing 37.1% to $1.44. Key segments showed mixed results: Architectural Services saw a 10.7% sales increase, while other segments experienced declines. Despite volume pressures, Apogee raised its full-year EPS outlook to $4.56-$4.88, with adjusted EPS projected at $4.65-$5.00. The company repurchased $15.1 million in stock and expects fiscal 2025 net sales to decline by 4-7%.

Apogee Enterprises (Nasdaq: APOG) announced that its Board of Directors has declared a quarterly cash dividend of $0.25 per share. This dividend is scheduled to be paid on July 25, 2024. Shareholders who hold the company's stock as of the close of business on July 10, 2024, will qualify to receive the dividend. This announcement underscores Apogee's commitment to returning value to its shareholders through consistent dividend payouts.

Apogee Enterprises (Nasdaq: APOG) will release its fiscal 2025 first quarter financial results on June 27, 2024, before the market opens.

The company will also host a webcast conference call to discuss these results at 8:00 a.m. Central Time on the same day. Investors can access the webcast and a subsequent replay through the company's website.