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Apogee Tops Q1 Earnings Estimates, Hikes FY25 View

Apogee Enterprises, Inc. (NASDAQ: APOG) reported earnings per share of $1.44 in first-quarter fiscal 2025 (ended Jun 1, 2024), surpassing the Zacks Consensus Estimate of $1.16. The bottom line increased 37.1% year over year. Apogee generated revenues of $331.5 million in the quarter under review, down 8.3% year over year due to lower volume. Apogee Enterprises, Inc. Price, Consensus and EPS Surprise Apogee Enterprises, Inc. price-consensus-eps-surprise-chart | Apogee Enterprises, Inc. Quote Operational Update Cost of sales in the fiscal first quarter fell 13.4% year over year to $233 million. Gross profit increased 6.3% year over year to $99 million. The gross margin expanded to 29.8% in the quarter from the prior-year quarter's 25.7%. Selling, general and administrative expenses decreased 2.9% year over year to $57 million. The operating income rose 22.5% year over year to $41 million. Segment Performances In the fiscal first quarter, revenues in the Architectural Framing Systems segment fell 18.9% year over year to $133 million due to lower end-market demand. The segment's operating profit was $18.4 million compared with the year-ago quarter's $19.9 million. The impacts of lower volumes were partially offset by favorable material costs, favorable mix and productivity gains. Revenues in the Architectural Glass ...