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Nov 27, 2021
Apogee Enterprises Q3 2022 Earnings Report
Apogee Enterprises' Q3 2022 financial results were announced, featuring revenue growth and strategic progress.
Key Takeaways
Apogee Enterprises reported a 6.6 percent increase in third-quarter revenue, reaching $334.2 million, driven by growth in Architectural Services and Architectural Framing Systems. Earnings per diluted share were $0.44, including restructuring and impairment costs, while adjusted earnings per diluted share reached $0.63. The company is progressing with its strategic plan, focusing on becoming the economic leader in its target markets.
Third-quarter revenue increased by 6.6 percent to $334 million.
Earnings per diluted share were $0.44, including $6.4 million of pre-tax restructuring and impairment costs.
Adjusted earnings per diluted share were $0.63.
Cash flow remained strong, with $86 million from operations year-to-date.
Revenue by Segment
Forward Guidance
The company is narrowing its guidance for full-year adjusted earnings to a range of $2.25 to $2.40 per diluted share, excluding restructuring and impairment costs. A pre-tax gain of approximately $19 million is expected in the fourth quarter from the sale of the Architectural Glass facility in Statesboro, Georgia. Full-year capital expenditures are now expected to be approximately $25 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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