Apogee Q2: Earnings Beat, Margins Expansion, Raised EPS Outlook & More
Portfolio Pulse from Nabaparna Bhattacharya
Apogee Enterprises, Inc. (NASDAQ:APOG) reported a Q2 FY24 sales decline of 5% Y/Y to $353.675 million, missing the consensus of $372.01 million. However, adjusted EPS rose 28% Y/Y to $1.36, above the consensus of $1.12. The company also raised its FY24 adjusted EPS outlook to $4.35-$4.65 from $4.15-$4.45. APOG shares are trading higher by 4.26% to $51.41 premarket.
September 19, 2023 | 1:02 pm
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Apogee Enterprises reported lower Q2 sales but higher EPS, and raised its FY24 EPS outlook. This news has led to a premarket increase in the company's share price.
Apogee's Q2 sales decline was offset by a higher EPS and a raised FY24 EPS outlook, which are positive indicators of the company's financial performance. This has led to an increase in the company's share price in premarket trading.
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