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Feb 27, 2021
Apogee Enterprises Q4 2021 Earnings Report
Apogee Enterprises reported a decrease in fourth-quarter revenue but an increase in adjusted earnings per diluted share.
Key Takeaways
Apogee Enterprises reported a decrease in fourth-quarter revenue by 8 percent to $309 million, but adjusted earnings per diluted share grew 26 percent to $0.63. The company's full-year cash flow from operations increased 32 percent, reaching a record $142 million. Guidance for fiscal 2022 was provided.
Fourth-quarter revenue declined 8 percent to $309 million due to end-market headwinds.
The company reported a fourth-quarter loss of $(1.65) per diluted share, including $70 million of non-cash impairment charges and $5 million of restructuring charges.
Adjusted earnings per diluted share for the fourth quarter increased by 26 percent to $0.63.
Full-year cash flow from operations increased by 32 percent, reaching a record $142 million.
Revenue by Segment
Forward Guidance
Apogee is providing initial guidance for fiscal year 2022, with full-year earnings expected to be in the range of $2.10 to $2.35 per diluted share. This guidance includes $7 to $10 million of expected pre-tax costs related to investments in transformation initiatives. The company expects a full-year tax rate of approximately 24.5 percent, and capital expenditures of approximately $45 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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