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May 28, 2022
Apogee Enterprises Q1 2023 Earnings Report
Apogee Enterprises reported first quarter fiscal year 2023 results with revenue growth and increased earnings per share.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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