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Nov 28, 2020
Apogee Enterprises Q3 2021 Earnings Report
Reported strong earnings and cash flow despite market challenges.
Key Takeaways
Apogee Enterprises reported a decrease in revenue by 7% to $314 million, but earnings increased to $1.42 per diluted share. Adjusted earnings grew to $0.90 per diluted share. The company is on track to achieve cost savings of over $40 million in fiscal 2021 and is taking actions to drive additional savings in fiscal 2022.
Earnings increased to $1.42 per diluted share; adjusted earnings grew to $0.90 per diluted share.
Revenue declined 7 percent to $314 million, with continued end-market headwinds.
On-track to achieve cost savings target of over $40 million in fiscal 2021; taking action to drive additional savings in fiscal 2022.
Strong cash flow, with $35 million of cash from operations in the quarter.
Revenue by Segment
Forward Guidance
The company is not providing detailed financial guidance due to continued uncertainty driven by the impact of COVID and end-market conditions. The company expects that continued project delays and soft market conditions will negatively impact revenue in the fourth quarter.
Challenges Ahead
- Continued project delays
- Soft market conditions
- COVID-19 impact
- End-market conditions
- Uncertainty in financial guidance
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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