Apogee Enterprises (APOG) Tops Q4 EPS by 8c

Apogee Enterprises (NASDAQ: APOG) reported Q4 EPS of $0.80, $0.08 better than the analyst estimate of $0.72. Revenue for the quarter came in at $314.1 million versus the consensus estimate of $291.79 million.

FY18 OUTLOOK“For fiscal 2018, we expect continued top- and bottom-line growth as we execute our strategies to grow through new geographies, new products and new markets. We also anticipate margin improvement through our ongoing focus on operational performance, productivity and project selection,” said Puishys. “We expect to drive revenue growth of approximately 10 percent and deliver earnings of $3.35 to $3.55 per diluted share.”

Fiscal 2018 gross margin is expected to be approximately 28 percent and operating margin approximately 12.5 percent. Capital expenditures are anticipated to be $50 to $60 million, as Apogee invests primarily to increase capabilities and productivity.

“Apogee expects mid-single digit U.S. commercial construction market growth in fiscal year 2018, as market activity, the Architecture Billings Index, office employment and office vacancy rates all show positive momentum,” Puishys said. “With our internal market visibility from backlog, commitments and bidding activity and external metrics moving in the right direction, we see sustained U.S. non-residential market growth.”

For earnings history and earnings-related data on Apogee Enterprises (APOG) click here.

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