Apogee Enterprises, Inc. · NASDAQ:APOG
Apogee Enterprises — Q1 FY2026 Earnings Presentation
18 slides from Apogee Enterprises's earnings presentation, Jun 27, 2025
Slide 1: Fiscal 2026 First Quarter Earnings Call
Apogee Enterprises, Inc. Nasdaq: APOG Fiscal 2026 First Quarter Earnings Call June 27, 2025 University of Washington, NanoES – Seattle © Aaron Leitz Photography; courtesy of ZGF
Slide 2: Non-GAAP measures & forward-looking statements
Non-GAAP measures & forward-looking statements This presentation contains measures of financial performance that are not defined by U.S. GAAP. We believe that these measures provide useful information and include these measures in other communications to investors. For each of these non-GAAP financi
Slide 3: Agenda
Agenda Introductory remarks Ty Silberhorn Chief Executive Officer Financial results and outlook Matt Osberg Chief Financial Officer Q&A Brooklyn Health Center, New York Photo courtesy of Terry Wieckert Q1 FY2026 Earnings | June 27, 2025 Apogee Enterprises, Inc. 3
Slide 4: FY2026 First Quarter Highlights
FY2026 First Quarter Highlights • Q1 results exceeded management expectations amid challenging $346.6M market conditions and year-over-year headwinds Net Sales +4.6% YoY • Net sales growth of 4.6% driven by Performance Surfaces benefits from investments in capacity expansion and UW Solutions acquisi
Slide 5: Q1 FY26 Consolidated Results
Q1 FY26 Consolidated Results $ in millions, except EPS Commentary Q1 FY26 Q1 FY25 Change • Net Sales – Net sales increase driven by $22.0 million of inorganic sales from UW Net Sales $346.6 $331.5 4.6% Solutions acquisition – Sales increase partially offset by lower volume in Architectural Glass Adj
Slide 6: Segment Results
Segment Results First Quarter FY2026 Segment Adjusted Net Sales EBITDA $M Margin* Architectural Metals $128.6 7.3% Year-over-year change (3.4)% (1,060) bps Architectural Services $106.5 5.7% Year-over-year change 7.6% (90) bps Architectural Glass $73.3 18.3% Year-over-year change (15.5)% (500) bps P
Slide 7: Cash Flow and Balance Sheet
Cash Flow and Balance Sheet $ in millions Q1 FY26 Q1 FY25 Commentary Cash flow from operations $(19.8) $5.5 • Change in free cash flow was primarily driven by lower net Capital expenditures $(7.2) $(7.2) earnings and an increase in cash used for working capital, Free cash flow* $(27.0) $(1.7) includ
Slide 8: FY26 Outlook
FY26 Outlook Q1 FY2026 Earnings | June 27, 2025 Apogee Enterprises, Inc. 8
Slide 9: Estimated Tariff Impact Summary
Estimated Tariff Impact Summary Tariff Summary assumes tariffs in place as of June 26, 2025 DIRECT INDIRECT • Tariffs incurred directly by the company to deliver products to customers • Raw material cost inflation, primarily aluminum • Primarily tariffs on aluminum products imported from Canada • Mo
Slide 10: Increasing Full-Year FY26 Outlook
Increasing Full-Year FY26 Outlook Additional details • Building momentum with expectation of strong second half of $1.40B - $1.44B FY2026, driven by Performance Surfaces and Glass Net sales (Previously $1.37B – $1.43B) • Tariffs estimated to reduce full-year adjusted diluted EPS by $0.35 to $0.45 (p
Slide 11: Summary
Summary • Q1 results exceeded management expectations amid challenging market conditions and year-over-year headwinds – Sequential improvement in Architectural Metals – Strong revenue and execution in Architectural Services • Positioned for a stronger second half, expected to deliver solid revenue g
Slide 12: Q&A
Q&A Q1 FY2026 Earnings | June 27, 2025 Apogee Enterprises, Inc. 12
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures • Adjusted net earnings, adjusted diluted EPS, and adjusted EBITDA are used by the Company to provide meaningful supplemental information about its operating performance by excluding amounts that are not considered part of core operating results to enhance comparability o
Slide 14: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted net earnings and adjusted diluted earnings per share (Unaudited) Three Months Ended (In thousands) May 31, 2025 June 1, 2024 $ 31,011 Net (loss) income $ (2,688) Acquisition-related costs (1) 349 — 1,122 Restructuring charges (2) 15,350 Income t
Slide 15: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin (Earnings before interest, taxes, depreciation, and amortization) (Unaudited) Three Months Ended May 31, 2025 (In thousands) Architectural Metals Architectural Services Architectural Glass Performance S
Slide 16: Reconciliation of F26 Outlook Adjusted Diluted EPS
Reconciliation of F26 Outlook Adjusted Diluted EPS Adjusted diluted earnings per share (EPS) (Unaudited) Fiscal Year Ending February 28, 2026 Low Range High Range Diluted earnings per share $ 2.59 $ 3.12 0.09 Acquisition-related costs (1) 0.14 1.11 Restructuring charges (2) 1.20 Income tax impact on
Slide 17: Long-Term Segment Margin Ranges
Long-Term Segment Margin Ranges Shifting our segment long-term target margin ranges to adjusted EBITDA margin, to reflect our strategic focus on inorganic growth PREVIOUS ADJUSTED FY26 EST. D&A UPDATED ADJUSTED OPERATING MARGIN* RUN RATE EBITDA MARGIN* TARGET TARGET Metals 10-15% ~3% 13-18% Glass 10
Slide 18: Footnotes to non-GAAP reconciliation tables
Reconciliation of non-GAAP financial measures Footnotes to non-GAAP reconciliation tables (1) Acquisition-related costs include: • Transaction costs related to the UW Solutions acquisition. • Integration costs related to one-time expenses incurred to integrate the UW Solutions acquisition. • Backlog