Business
Apogee Enterprises Reports Fiscal 2024 Second Quarter Results
Net sales of $354 million and diluted EPS of $1.52 Operating margin reaches 11.5%, up from 8.6% in last year’s second quarter Adjusted diluted EPS grows 28%
About this update from Apogee Enterprises, Inc.
[{"type":"text","content":"\n\nNet sales of $354 million and diluted EPS of $1.52\n\n\n\nOperating margin reaches 11.5%, up from 8.6% in last year’s second quarter\n\n\n\nAdjusted diluted EPS grows 28% to an all-time quarterly record $1.36\n\n\n\nYear-to-date cash flow from operations of $63 million, an improvement of $65 million compared to the same period of last year\n\n\n\nIncreasing full-year adjusted diluted EPS outlook to a range of $4.35 to $4.65\n\n\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nApogee Enterprises, Inc. (Nasdaq: APOG) today reported its fiscal 2024 second-quarter results. The Company reported the following selected financial results:\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n($ in thousands, except per share amounts)\n\n\n\n\n\n\n \n\n\n\n\n\n\nAugust 26, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nAugust 27, 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n\n\nNet Sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n353,675\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n372,109\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(5.0\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n\n\nOperating income\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n40,553\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n32,072\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n26.4\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nOperating margin %\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n11.5\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n8.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n33.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nDiluted earnings per share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1.52\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1.68\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(9.5\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n\n\nAdditional Non-GAAP Measures1\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted diluted earnings per share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1.36\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1.06\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n28.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n51,145\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n42,498\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n20.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n“We delivered another quarter...