Corrects typographical error in headline

Overview

• US architectural products maker's fiscal Q1 revenue fell 1% but beat analyst expectations

• Adjusted diluted EPS for fiscal Q1 rose slightly and beat analyst expectations

• Company reaffirmed fiscal 2027 guidance and expects Kalwall acquisition to close in July

Outlook

• Apogee reaffirms fiscal 2027 net sales guidance of $1.38 bln to $1.43 bln, excluding Kalwall

• Company maintains fiscal 2027 adjusted diluted EPS outlook of $2.70 to $3.25

• If Kalwall acquisition closes, net sales guidance rises to $1.43 bln to $1.48 bln

Result Drivers

• LOWER VOLUME, HIGHER COSTS - Company said overall net sales declined due to lower volume, with higher material and freight costs impacting margins

• COST SAVINGS - SG&A expenses as a percentage of net sales fell, mainly due to cost savings from Fortify Phase 2

• FAVORABLE PRICING AND MIX - Company said favorable pricing and product mix partially offset lower volume in several segments

Company press release: ID:nBwbzJVz4a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Sales	Beat	$342.68 mln	$333.84 mln (3 Analysts)
Q1 Adjusted EPS	Beat	$0.57	$0.45 (3 Analysts)
Q1 EPS		$0.54
Q1 Net Income		$11.54 mln

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction supplies & fixtures peer group is "buy."

• Wall Street's median 12-month price target for Apogee Enterprises Inc is $41.00, about 3.5% below its June 25 closing price of $42.48

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 12 three months ago

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