Apogee Enterprises (APOG) Misses Q4 EPS by 6c, FY EPS Guidance Misses

Apogee Enterprises (NASDAQ: APOG) reported Q4 EPS of $0.85, $0.06 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $346.3 million versus the consensus estimate of $357.18 million.

GUIDANCE:

Apogee Enterprises sees FY2020 EPS of $3.00-$3.20, versus the consensus of $3.38.

• Revenue growth of 1 to 3 percent, with growth in three of the company’s segments, partially offset by a decline in Architectural Services due to the execution schedules for projects already in backlog.
• Operating margins between 8.2 to 8.6 percent, with margin improvement in Architectural Glass and Architectural Framing Systems, offset by reduced margins in Architectural Services due to negative leverage on lower volumes and less favorable project maturity compared to fiscal 2019. The company also expects margins will be negatively impacted by start-up costs related to the strategic growth investment in Architectural Glass and increased corporate costs from higher legal and other advisory expenses.
• Diluted earnings per share in the range of $3.00 to $3.20, which excludes the possible benefit of any potential expense recovery associated with the EFCO-related charges the company recorded in the current quarter.
• Tax rate of approximately 24.5 percent.
• Capital expenditures of $60 to $65 million.

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

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