Apogee Enterprises, Inc. · NASDAQ:APOG
Apogee Enterprises — Q4 2020 Earnings Presentation
16 slides from Apogee Enterprises's earnings presentation, Apr 2, 2020
Slide 1: Fiscal 2020 Fourth Quarter Earnings Call
APOGEE ENTERPRISES, INC. Apogee Enterprises, Inc. Fiscal 2020 Fourth Quarter Earnings Call April 2, 2020
Slide 2: Non-GAAP measures & forward-looking statements
Non-GAAP measures & forward-looking statements This presentation contains non-GAAP financial measures which the company uses to evaluate historical and prospective financial performance, measure operational profitability on a consistent basis, and provide enhanced transparency to the investment comm
Slide 3: Agenda
Agenda Introductory remarks and business update Joe Puishys Chief Executive Officer Financial results Jim Porter Executive Vice President and CFO Q&A 330 Madison Avenue 3 Q4 FY2020 Earnings | April 2, 2020 | Apogee Enterprises, Inc. New York, NY
Slide 4: FY2020 Fourth Quarter Highlights
FY2020 Fourth Quarter Highlights • Earnings above prior guidance • Strong order flow and backlog growth – Architectural Services backlog grew 9% to record $660 million – Architectural Framing Systems backlog increased 14% to $432 million • Strong cash flow in the quarter, which drove full year free
Slide 5: COVID-19 Response Plan
COVID-19 Response Plan • Robust action plan, led by cross-functional response team • Business continuity plans to maintain essential operations and meet customer needs • Enhanced communications with employees and customers • Site prevention activities including social distancing and heightened hygie
Slide 6: Business Update
Business Update • Not providing financial guidance due to uncertainty caused by COVID-19 situation • Responding to rapidly changing project schedules and customer requirements – Apogee’s architectural segments are operating and serving customers’ needs – Large-Scale Optical seeing more significant n
Slide 7: FY2020 Q4 and Full-Year Consolidated Results
FY2020 Q4 and Full-Year Consolidated Results 4th Quarter 4th Quarter Full-Year Full-Year All numbers in $M, except per share and where noted FY20 FY19 FY20 FY19 Revenues $337.1 $346.3 $1,387 $1,403 Operating income 15.6 (14.8) 87.8 67.3 Adjusted operating income* 17.6 31.2 90.0 116.3 Operating margi
Slide 8: FY2020 Q4 and Full-Year Segment Results
FY2020 Q4 and Full-Year Segment Results 4th Quarter 4th Quarter Year-to-date Year-to-date All numbers in $M, except where noted FY20 FY19 FY20 FY19 Revenues Architectural Framing Systems $153.1 $170.6 $686.6 $720.8 Architectural Glass 98.3 103.7 387.2 367.2 Architectural Services 73.4 66.3 269.1 286
Slide 9: Backlog Trend
Backlog Trend Segment Backlog at Period End 700 600 500 400 300 200 100 0 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Architectural Services Framing Systems 9 9 Q4 FY2020 Earnings | April 2, 2020 | Apogee Enterprises, Inc.
Slide 10: Cash Flow and Balance Sheet
Cash Flow and Balance Sheet All numbers in $M FY2020 FY2019 Cash flow from operations $107.3 $96.4 Capital expenditures 51.4 60.7 Free cash flow* 55.8 35.7 Share repurchases 25.1 43.3 Dividends paid 18.7 17.9 Total debt 217.9 245.7 *Free cash flow is defined as cash flow from operations less capital
Slide 11: Concluding Remarks
Concluding Remarks • Closed FY20 with a solid fourth quarter • Strong foundation and momentum in our business • Focused on executing what we can control • Strong cash flow and healthy financial position • Taking action to deal with the effects of COVID-19 • Health & safety of our employees is top pr
Slide 12: Apogee
* Apogee enrer;orises, INC.
Slide 13: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted Net Earnings and Adjusted Earnings per Diluted Common Share (Unaudited) Thirteen Thirteen Fifty-two Fifty-two Weeks Ended Weeks Ended Weeks Ended Weeks Ended In thousands February 29, 2020 March 2, 2019 February 29, 2020 March 2, 2019 Net earnin
Slide 14: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted Operating Income and Adjusted Operating Margin (Unaudited) Thirteen Weeks Ended February 29, 2020 Framing Systems Segment Corporate Consolidated Operating Operating Operating Operating In thousands income margin Operating loss income margin Oper
Slide 15: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted Operating Income and Adjusted Operating Margin (Unaudited) Fifty-Two Weeks February 29, 2020 Framing Systems Segment Corporate Consolidated Operating Operating Operating Operating In thousands income margin Operating loss income margin Operating
Slide 16: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures EBITDA and Adjusted EBITDA (Unaudited) Thirteen Thirteen Fifty-two Fifty-two Weeks Ended Weeks Ended Weeks Ended Weeks Ended In thousands February 29, 2020 March 2, 2019 February 29, 2020 March 2, 2019 Net earnings $ 11,958 $ (12,084) $ 61,914 $ 45,694 I