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Mar 01, 2025
Apogee Enterprises Q4 2025 Earnings Report
Apogee Enterprises reported a decrease in both revenue and earnings for Q4 2025, though adjusted EPS beat expectations.
Key Takeaways
Apogee Enterprises faced a 4.5% year-over-year decline in Q4 revenue to $345.7 million, primarily driven by the absence of an extra operational week and reduced volume in key segments. Despite this, adjusted diluted EPS of $0.89 surpassed analyst estimates. The company also completed the first phase of Project Fortify and recorded various non-recurring expenses, including an arbitration award charge.
Q4 revenue declined by 4.5% year-over-year to $345.7 million.
Adjusted diluted EPS for Q4 was $0.89, beating estimates by $0.02.
Net income dropped to $2.5 million due to impairment and arbitration-related expenses.
Segment revenue was mixed, with strong growth in Performance Surfaces offset by declines in Metals and Glass.
Revenue by Segment
Forward Guidance
Apogee expects FY 2026 revenue between $1.37B and $1.43B, with adjusted EPS between $3.55 and $4.10. The company anticipates headwinds from tariffs and macro uncertainty, particularly in early quarters.
Positive Outlook
- FY26 adjusted EPS forecast up to $4.10.
- UW Solutions expected to contribute $100M in revenue.
- Estimated 20% EBITDA margin from UW Solutions.
- Projected $13M–$15M annualized cost savings from Project Fortify Phase 2.
- Planned capital expenditures of $35M–$40M to support growth.
Challenges Ahead
- Tariff-related headwinds projected to reduce EPS by $0.45 to $0.55.
- Interest expense expected to increase to $14.5M–$15.5M.
- Macroeconomic uncertainty impacting non-residential construction and specialty glass.
- More significant year-over-year declines in adjusted EPS expected in H1 FY26.
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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