Apogee Entr Stock Price, News & Analysis

Apogee Enterprises, Inc. (Nasdaq: APOG) has declared a quarterly cash dividend of $0.24 per share. This dividend will be payable on May 24, 2023, to shareholders of record at the close of business on May 9, 2023.

Apogee is a leading provider of architectural products and services, focusing on high-performance glass and acrylic products. Headquartered in Minneapolis, MN, its extensive offerings include architectural glass, windows, and integrated project management services. The company is committed to energy conservation and enhancing client viewing experiences.

Apogee Enterprises reported a 5% increase in fourth-quarter revenue, reaching $344 million, driven by strong performance in Architectural Framing Systems and Architectural Glass. Earnings per diluted share were $0.91, a significant turnaround from the prior year's loss of $(0.67). For the full year, revenue climbed 9.6% to a record $1.44 billion, with full-year earnings per diluted share jumping to $4.64 from $0.14 in fiscal 2022. Operating cash flow for Q4 was robust at $52 million. Looking ahead, Apogee anticipates fiscal 2024 earnings per diluted share between $3.90 and $4.25 but expects flat to slightly declining revenue due to anticipated lower volume in Architectural Services. Despite strong financial metrics, shares may face volatility due to the expected revenue stagnation.

Apogee Enterprises, Inc. (Nasdaq: APOG) is scheduled to report its fiscal 2023 fourth quarter and full-year results on April 12, 2023, before market opening. A conference call will occur at 8:00 a.m. Central Time on the same day, which will also be available via webcast. Investors can access the webcast through the company’s investor section on its website, with a replay option for those unable to attend live. Apogee is a leading provider of architectural products and services, focusing on glass and acrylic solutions that promote energy conservation and enhanced viewing experiences.

Apogee Enterprises, Inc. (Nasdaq: APOG) has appointed Matt Osberg as the new Executive Vice President and Chief Financial Officer, effective April 28, 2023. Osberg brings over 20 years of financial leadership experience, including his recent role as CFO at Helen of Troy Limited and prior positions at Best Buy Co., Inc. CEO Ty R. Silberhorn expressed confidence in Osberg's ability to drive results and add value to the company. Mark Augdahl, the interim CFO, will return to his position as Vice President of Finance for the Architectural Glass segment.

Apogee Enterprises, Inc. (Nasdaq: APOG) declared a quarterly cash dividend of $0.24 per share, marking a 9% increase from $0.22. This dividend is payable on February 15, 2023, to shareholders of record on January 31, 2023. This milestone represents Apogee’s tenth consecutive year of dividend increases, with total growth of 167% since the dividend was $0.09 per share. CEO Ty R. Silberhorn attributed this increase to strong operational performance and cash flow generation.