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Jun 01, 2024
Apogee Enterprises Q1 2025 Earnings Report
Apogee Enterprises reported first quarter fiscal 2025 results with improved operating margin and diluted EPS growth.
Key Takeaways
Apogee Enterprises reported a decrease in net sales by 8% to $332 million, but achieved significant operating income growth and a record adjusted EPS of $1.44, despite volume pressure. The company is raising its full-year EPS outlook.
Net sales decreased by 8% to $332 million.
Operating margin improved to 12.5%, with an adjusted operating margin of 12.8%.
Diluted EPS grew to $1.41, and adjusted diluted EPS increased by 37% to $1.44.
Full-year EPS outlook raised.
Apogee Enterprises
Apogee Enterprises
Apogee Enterprises Revenue by Segment
Revenue by Segment
Architectural Metals Revenue
CapyFin.comArchitectural Services Revenue
CapyFin.comArchitectural Glass Revenue
CapyFin.comPerformance Surfaces Revenue
CapyFin.com Forward Guidance
The Company continues to expect a full-year net sales decline in the range of 4% to 7%. The Company is increasing its outlook for full-year diluted EPS to a range of $4.56 to $4.88 and adjusted diluted EPS to a range of $4.65 to $5.00.
Positive Outlook
- Full-year net sales decline expected in the range of 4% to 7%.
- This range includes approximately 2 percentage points of decline related to fiscal 2025 reverting to a 52-week year.
- Approximately 1 percentage point of decline related to the actions of Project Fortify to eliminate certain lower-margin product and service offerings.
- Full-year diluted EPS outlook increased to a range of $4.56 to $4.88.
- Adjusted diluted EPS outlook increased to a range of $4.65 to $5.00.
Challenges Ahead
- The reversion to a 52-week year will reduce adjusted diluted EPS by approximately $0.20 compared to fiscal 2024.
- Pressure on volume and pricing through the remainder of the fiscal year.
- Softening end markets are expected to continue.
- Total of $15 million to $16 million of pre-tax charges in connection with Project Fortify.
- The plan to be substantially complete in the third quarter of fiscal 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income