Apogee Enterprises Q4 2022 Earnings Report
Key Takeaways
Apogee Enterprises reported a 6% increase in fourth-quarter revenue, reaching $328 million. The company experienced a net loss of $(0.67) per diluted share, but adjusted earnings per share rose by 44% to $0.91. The results were driven by growth in Architectural Services and Architectural Framing Systems.
Fourth-quarter revenue increased by 6 percent to $328 million.
The company reported a fourth-quarter loss of $(0.67) per diluted share; adjusted earnings were $0.91 per diluted share, a 44 percent increase year-over-year.
Apogee repurchased $71 million of stock in the fourth quarter.
Guidance for fiscal year 2023 forecasts earnings of $2.90 to $3.30 per diluted share.
Apogee Enterprises
Apogee Enterprises
Apogee Enterprises Revenue by Segment
Forward Guidance
The company is providing initial guidance for fiscal year 2023, with full year adjusted earnings expected to be in the range of $2.90 to $3.30 per diluted share. The company expects revenue growth in fiscal 2023, primarily driven by growth in Architectural Framing Systems.
Positive Outlook
- Full year adjusted earnings are expected to be in the range of $2.90 to $3.30 per diluted share.
- Revenue growth is expected in fiscal 2023.
- Revenue growth is primarily driven by growth in Architectural Framing Systems.
Challenges Ahead
- No specific negatives were mentioned in the provided guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income