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Feb 26, 2022
Apogee Enterprises Q4 2022 Earnings Report
Apogee Enterprises reported a net loss but adjusted earnings increased, driven by revenue growth and improved performance in Architectural Services and Framing Systems.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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