OI - Apogee Tops Q1 Earnings Estimates Hikes FY25 View | Benzinga
Apogee Enterprises, Inc. (NASDAQ: APOG) reported earnings per share of $1.44 in first-quarter fiscal 2025 (ended Jun 1, 2024), surpassing the Zacks Consensus Estimate of $1.16. The bottom line increased 37.1% year over year.
Apogee generated revenues of $331.5 million in the quarter under review, down 8.3% year over year due to lower volume.
Apogee Enterprises, Inc. Price, Consensus and EPS Surprise
Apogee Enterprises, Inc. price-consensus-eps-surprise-chart | Apogee Enterprises, Inc. Quote
Operational Update
Cost of sales in the fiscal first quarter fell 13.4% year over year to $233 million. Gross profit increased 6.3% year over year to $99 million. The gross margin expanded to 29.8% in the quarter from the prior-year quarter's 25.7%.
Selling, general and administrative expenses decreased 2.9% year over year to $57 million. The operating income rose 22.5% year over year to $41 million.
Segment Performances
In the fiscal first quarter, revenues in the Architectural Framing Systems segment fell 18.9% year over year to $133 million due to lower end-market demand. The segment's operating profit was $18.4 million compared with the year-ago quarter's $19.9 million. The impacts of lower volumes were partially offset by favorable material costs, favorable mix and productivity gains.
Revenues in the Architectural Glass ...