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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.
Revenue by Segment
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.
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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