Apogee Enterprises Q1 2023 Earnings Report
Key Takeaways
Apogee Enterprises reported a strong first quarter with revenue increasing by 9.4% to $356.6 million, driven by growth in Architectural Framing Systems and Architectural Services. Earnings per diluted share rose to $1.00, up from $0.42 in the prior year, benefiting from improved profitability in Architectural Framing Systems and Architectural Glass, as well as a lower share count. The company raised its full-year adjusted earnings guidance to a range of $3.50 to $3.90 per diluted share.
First-quarter revenue increased by 9 percent to $357 million.
Earnings per diluted share for the first quarter increased to $1.00, compared to $0.42 in the previous year.
Architectural Framing Systems revenue grew by 19 percent, driven by inflation-related pricing actions.
The company increased its full-year adjusted earnings guidance to a range of $3.50 to $3.90 per diluted share.
Apogee Enterprises
Apogee Enterprises
Apogee Enterprises Revenue by Segment
Forward Guidance
The company is raising its guidance for full-year adjusted earnings to a range of $3.50 to $3.90 per diluted share and continues to expect full-year capital expenditures of $35 million to $40 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income