APOG earnings analysis
What we found in APOG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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 margin driven by cost savings and pricing initiatives, but segments varied in performance, with notable declines in Architectural Metals and Glass.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Beats Expectations
- EPS of $0.57 surpassed estimates of $0.41, marking a significant surprise of 39%.
- Operating Margin Improvement
- Operating margin increased to 5.5%, up from 2.0% in the previous year.
- Revenue Beat
- Revenue of $342.7 million exceeded the anticipated $332.0 million.
- Increased Operating Cash Flow
- Operating cash flow improved to $7.4 million compared to a use of $19.8 million in the prior year.
- Decreased Interest Expense
- Interest expense decreased to $2.8 million from $3.8 million due to lower average debt.
- Strong Performance in Architectural Services
- Architectural Services segment grew by 8.2% to $115.2 million, driven by increased volume.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Sales in Key Segments
- Architectural Metals and Glass reported year-over-year declines of 4.8% and 7.6%, respectively.
- Negative Adjusted EBITDA Margin Trend
- Adjusted EBITDA decreased to $32.1 million compared to $34.4 million, with margin down to 9.4%.
- Increased Material Costs
- There has been a notable impact from higher material and freight costs on overall profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.57
- Gross margin
- 21.9%
- Operating margin
- 5.5%
- Segment
- Architectural Metals: $122.4M
- Segment
- Architectural Services: $115.2M
- Segment
- Architectural Glass: $67.7M
- Segment
- Performance Surfaces: $44.3M
What they said about what is next.
Fiscal 2027 guidance remains unchanged, expecting net sales between $1.38 billion and $1.48 billion, adjusted EPS of $2.70 to $3.25.
The filing reads better than the one before it.
What came before.
- 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…
- 10-Q · October 4, 2024
- Apogee reported quarterly net sales of $342.44M and diluted EPS of $1.40 for the three months ended August 31, 2024. Gross profit rose to $97.32M (28.4% gross margin) and operating income increased to $41.97M (12.3%…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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