Apogee Enterprises, Inc. (APOG) reported first-quarter fiscal 2027 earnings on [insert date] with adjusted earnings per share (EPS) of 57 cents and revenues of $342.7 million, surpassing Zacks consensus estimates of 43 cents and $333.9 million. The quarter showed a net sales decrease of 1.1% year-over-year, but executives reaffirmed full-year guidance of $1.38 to $1.43 billion in net sales and $2.70 to $3.25 in adjusted EPS, attributing the positive outcomes to pricing discipline and operational efficiencies.
The company is pursuing a strategic acquisition of Kalwall, expected to generate approximately $85 million in revenue within the first year at a 15% adjusted EBITDA margin, aimed at enhancing Apogee’s portfolio in the higher-margin daylighting products sector. The deal is scheduled for completion in early July 2023 and is projected to be accretive in the first year.
While architectural services reported an 8.2% increase in sales, the glass segment faced challenges with a 7.6% drop in sales and an adjusted EBITDA margin of 8.7%, down from 18.3% the previous year. The backlog at the end of the quarter reached $734.5 million, up from $682.9 million at the last fiscal year-end, indicating potential future growth.
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