imaginima/E+ via Getty Images When financial performance begins to show signs of weakening, some investors might be tempted to run for the hills. But when shares of the company in question still remain cheap, it might make sense to continue holding on instead. A good example of this can be seen by looking at Apogee Enterprises (NASDAQ:APOG), a firm that focuses on the production and sale of products like windows, curtain walls, high performance glass, and more. Over the past few quarters now, financial perf ...

MINNEAPOLIS--(BUSINESS WIRE)--Apogee Enterprises, Inc. (Nasdaq: APOG) today announced strategic actions to further streamline its business operations, enable a more efficient cost model, and better position the Company for profitable growth (referred to as “Project Fortify”). Project Fortify includes the following strategic changes related to the Architectural Framing Systems (AFS) segment: Eliminating certain lower-margin product and service offerings, enabling the consolidation of AFS into a single o ...

Despite increased costs and labor shortage marring the near-term outlook of the Zacks Glass Products industry, it is poised to benefit from the rising demand for glass — both as a packaging option and for use in construction. This is backed by its endless recyclability and sustainability benefits. Growing demand for energy-efficient, smart windows or smart glass panels will be another catalyst for the industry going forward.Companies like Xinyi Glass (XYIGF) , Apogee Enterprises (APOG) and View, Inc. (VIEW) ...

Core Insights - Zacks Premium offers tools for investors to enhance their stock market engagement and confidence through various research services [1] Zacks Style Scores - Zacks Style Scores are indicators that rate stocks based on value, growth, and momentum characteristics, helping investors identify stocks likely to outperform the market in the next 30 days [2] - Each stock is rated from A to F, with A indicating the highest potential for outperformance [2] Value Score - The Value Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [2] Growth Score - The Growth Score emphasizes a company's financial health and future outlook, analyzing projected and historical earnings, sales, and cash flow [3] Momentum Score - The Momentum Score identifies trends in stock prices and earnings outlooks, helping investors time their stock purchases based on recent price changes and earnings estimate revisions [3] VGM Score - The VGM Score combines the Value, Growth, and Momentum Scores, providing a comprehensive rating that highlights stocks with attractive value, strong growth forecasts, and promising momentum [4] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in building successful portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988 [5] - There are over 800 top-rated stocks available, making it essential for investors to select those with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal success [6] Company Spotlight: Apogee Enterprises (APOG) - Apogee Enterprises is a leader in architectural products, providing glass and framing systems for buildings [7] - Currently rated 3 (Hold) on the Zacks Rank, APOG has a VGM Score of A and a Momentum Style Score of B, with shares up 1% over the past four weeks [7] - Recent earnings estimates for fiscal 2024 have been revised higher, with the Zacks Consensus Estimate increasing by $0.12 to $4.61 per share, and an average earnings surprise of 15.9% [7][8]

MINNEAPOLIS--(BUSINESS WIRE)--Apogee Enterprises, Inc. (Nasdaq: APOG) announced today that its Board of Directors has declared a quarterly cash dividend of $0.25 per share, a 4% increase from its previous quarterly dividend rate of $0.24 per share. The dividend will be payable on February 14, 2024, to shareholders of record at the close of business on January 30, 2024. This marks Apogee’s eleventh consecutive year with a dividend increase, during which time the quarterly dividend has grown by 178%, from $0. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________ FORM 10-Q _________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 25, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-6365 _________________________________ APOGEE ENTERPRISES, INC. (Exact n ...

Apogee Enterprises, Inc. (NASDAQ:APOG) Q3 2024 Results Conference Call December 21, 2023 9:00 AM ET Company Participants Jeff Huebschen - VP, IR Ty Silberhorn - CEO Matt Osberg - CFO Conference Call Participants Chris Moore - CJS Securities Julio Romero - Sidoti & Company Brent Thielman - D.A. Davidson Operator Good day, and welcome to the Q3 2024 Apogee Enterprises Earnings Conference Call. [Operator Instructions]. As a reminder, this call is being recorded. I would now like to turn the call over to Jeff H ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________ FORM 10-Q _________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 26, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-6365 _________________________________ APOGEE ENTERPRISES, INC. (Exact nam ...

Financial Data and Key Metrics Changes - Consolidated revenue decreased by 5% to $354 million compared to $372 million last year, primarily due to lower volumes in Services and Framing, partially offset by a 22% increase in Glass revenue [10][12] - Adjusted diluted EPS grew by 28% to a record level of $1.36, driven by higher operating income and a lower diluted share count [14][16] - Operating margin expanded by 290 basis points to 11.5%, exceeding the 10% target for the first time since the financial goals were established [10][16] Business Line Data and Key Metrics Changes - Architectural Glass segment revenue increased by 22%, driven by improved volume, pricing, and mix, with operating income nearly tripling to $17.5 million and operating margin improving to 18.5% [10][12][13] - Framing segment operating income grew by 3%, with operating margin expanding by 140 basis points to 13.3%, primarily due to improved mix and cost efficiencies [12][13] - Services segment experienced lower revenue recognition due to a higher mix of early-stage projects, impacting overall revenue [11] Market Data and Key Metrics Changes - Backlog for Framing decreased to $197 million from $221 million in the previous quarter, driven by a decline in longer cycle business [15] - Services backlog also declined to $674 million from $709 million, reflecting delays in award activity [15] Company Strategy and Development Direction - The company is focused on a three-pillar strategy: becoming an economic leader, actively managing the portfolio, and strengthening core capabilities [6][7] - Strategic investments are being made to enable organic growth, diversify project mix, and explore acquisition opportunities [9][20] - The company aims to shift focus towards driving profitable revenue growth after achieving improved margins and returns on invested capital [8][9] Management's Comments on Operating Environment and Future Outlook - Management noted signs of softening in the broader non-residential market but highlighted strong demand in premium Class A office space and mixed-use buildings [23] - The company expects to continue driving productivity gains and operational execution while monitoring macroeconomic trends for potential impacts [20][21] Other Important Information - The company recognized a $4.7 million pretax benefit from a New Markets Tax Credit, which is expected to support future growth [14] - Capital expenditures for the year are projected to be between $50 million and $60 million, with a focus on expanding capacity in higher-margin businesses [19][33] Q&A Session Summary Question: Can you elaborate on the framing operating margin and what mix means within Framing? - Management explained that stronger margins are seen in the shorter-cycle business, which has recovered service and lead time levels, while the team is being selective about project-related business to ensure sustainable margins [25][26] Question: What impact do you expect from aluminum pricing in the balance of '24? - Management indicated that there is no material impact expected from aluminum pricing in the back half of the year [27][28] Question: How do you view cash flow normalization and its relationship with net income? - Management acknowledged unique circumstances affecting cash flow last fiscal year and indicated opportunities for improvement in working capital moving forward [29][30] Question: What are the expected capital expenditures for fiscal '25? - Management stated that while fiscal '24 represents a step-up in CapEx, specific numbers for fiscal '25 have not yet been determined, but there will be a focus on organic growth initiatives [32][33] Question: Are you seeing more orders for mixed-use buildings? - Management confirmed an increase in mixed-use projects, which are being tracked in backlog analysis, indicating a positive trend for the company [36][37] Question: How much more runway is there for mix improvements in the Glass segment? - Management noted that the recent quarter represented an optimal scenario for mix and pricing, but they do not expect to maintain that level consistently [38][39] Question: What organic growth opportunities are being considered? - Management highlighted potential expansion into new geographies and capacity investments, while also considering acquisitions for diversification [42][43]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________ FORM 10-Q _________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 27, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-6365 _________________________________ APOGEE ENTERPRISES, INC. (Exact name o ...