Apogee Enterprises Q1 2022 Earnings Report
Key Takeaways
Apogee Enterprises reported a strong start to fiscal 2022, with first-quarter revenue increasing by 13% to $326 million and earnings improving to $0.42 per diluted share. The company saw growth in all four segments and made progress on key initiatives, including cost structure improvements and enterprise transformation.
First-quarter revenue grew 13 percent to $326 million.
Earnings increased to $0.42 per diluted share, compared to $0.11 per diluted share in the prior-year quarter.
Sales growth achieved in all segments.
Full-year earnings guidance increased to a range of $2.20 to $2.40 per diluted share.
Apogee Enterprises
Apogee Enterprises
Apogee Enterprises Revenue by Segment
Forward Guidance
Apogee Enterprises is increasing its full-year earnings guidance to a range of $2.20 to $2.40 per diluted share, which includes $7 to $10 million of expected pre-tax costs related to investments in transformation initiatives. The company continues to expect a full-year tax rate of approximately 24.5 percent and full-year capital expenditures of approximately $45 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income