10-Q · June 30, 2026
Apogee Enterprises reported a mixed Q1 fiscal 2027, with revenues of $342.7 million slightly down 1.1% year-over-year, but EPS increased to $0.57, beating estimates of $0.41. The company experienced improved operating…
Earnings analysis · 10-Q
APOG earnings analysis
Filed October 6, 2026 · Our reading of the company's report
The latest report
Apogee delivered a strong fiscal 2027 second-quarter result, with $391.1 million of revenue and $1.17 of adjusted diluted EPS, beating consensus by approximately 10.6% and 85.7%, respectively. Gross margin of 24.6% and…
Read full summary
Apogee delivered a strong fiscal 2027 second-quarter result, with $391.1 million of revenue and $1.17 of adjusted diluted EPS, beating consensus by approximately 10.6% and 85.7%, respectively. Gross margin of 24.6% and operating margin of 8.6% improved materially, while management raised fiscal 2027 revenue guidance to $1.46 billion-$1.50 billion and adjusted EPS guidance to $3.00-$3.40. The principal filing-specific concerns are acquisition integration and controls, as Kalwall—acquired July 1, 2026—was excluded from the control assessment and represented approximately 10% of assets and 4% of net sales.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.17
What stood out
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Revenue and EPS materially beat estimates
Revenue was $391.1 million, exceeding the $353.7 million consensus estimate by approximately 10.6%; adjusted diluted EPS was $1.17 versus the $0.63 estimate, an approximately 85.7% beat.
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Margins expanded significantly
Gross margin was 24.6% and operating margin was 8.6%, compared with the prior analysis figures of 21.9% and 5.5%, respectively, indicating substantial year-over-year margin expansion.
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Adjusted earnings increased 19.4%
GAAP diluted EPS was $1.07, while adjusted diluted EPS was $1.17, with adjusted EPS increasing 19.4% according to the company’s earnings disclosure.
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Fiscal 2027 revenue outlook raised
Management raised fiscal 2027 net sales guidance to $1.46 billion-$1.50 billion from $1.38 billion-$1.43 billion, an increase of $80 million at the low end and $70 million at the high end.
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Fiscal 2027 EPS outlook raised
Fiscal 2027 adjusted diluted EPS guidance increased to $3.00-$3.40 from $2.70-$3.25, raising the range by $0.30 at the low end and $0.15 at the high end.
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Acquisition contributed to growth
The company completed its Kalwall acquisition on July 1, 2026; Kalwall represented approximately 4% of consolidated net sales for the three months ended August 29, 2026.
What to watch
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Acquisition integration and controls
Management excluded Kalwall from its internal-control assessment as of August 29, 2026; the acquired business represented approximately 10% of consolidated assets and 4% of consolidated net sales for the relevant three-month period.
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Construction and product claims
The company remains exposed to construction-related product liability, warranty, employment, workers’ compensation, and general-liability claims; the filing states that no matters are currently expected to have a material adverse effect, but disputes can involve significant monetary damages or product replacement.
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No updated risk-factor disclosure
The filing states there were no significant changes or additions to the risk factors in the February 28, 2026 Form 10-K, limiting visibility into whether acquisition-related leverage, costs, or input-price pressures have changed since the annual report.
Management's outlook
Fiscal 2027 adjusted diluted EPS guidance was raised from $2.70-$3.25 to $3.00-$3.40. Fiscal 2027 net sales guidance was raised from $1.38 billion-$1.43 billion to $1.46 billion-$1.50 billion.
Earlier filings 4
10-K · April 24, 2026
Apogee reported fiscal 2026 net sales of $1.4047 billion (up 3.2% y/y) but experienced margin and profitability compression: gross margin fell to 22.7% and GAAP diluted EPS declined to $2.52 (down 35.2% y/y). Management…
10-Q · October 9, 2025
Apogee reported quarterly revenue of $358.2M (up $15.8M vs. $342.4M a year earlier) but experienced notable margin compression: gross profit fell to $82.6M and operating income to $26.9M. Diluted EPS declined to $1.10…
10-Q · July 2, 2025
Apogee reported quarterly revenue of $346,622,000 (up from $331,516,000 a year ago) but posted a net loss of $2,688,000 (diluted loss per share $(0.13)) as margins and operating profit compressed. Management cited…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.