By Robb M. Stewart
Apogee Enterprises again dampened earnings expectations for the fiscal year after a third-quarter slump as its operating margin was squeezed in what it said remained a challenging environment.
The provider of architectural building products and services on Wednesday recorded a drop in net earnings to $16.5 million, or 77 cents a share, for the three months to Nov. 29, from $21 million, or 96 cents, a year earlier. The result was below the 92 cents a share analysts polled by FactSet expected.
On an adjusted basis, per-share earnings fell to $1.02 from $1.19 a year earlier.
Sales were up 2.1% for the quarter to $348.6 million from $341.3 million last year, but fell short of the $354 million analysts forecast.
The Minneapolis company said it now expects earnings for the fiscal year of between $2.49 and $2.65 a share, or $3.40 to $3.50 per share on an adjusted basis, though it scaled back the hit it projects from tariffs to about 30 cents a share from the prior estimate of at least 35 cents. Sales for the year are now expected to be about $1.39 billion, the bottom end of guidance given in October.
Apogee last October scaled back expectations for its full year-year earnings to between $2.79 to $3.19 a share, or $3.60 to $3.90 in adjusted terms. At the time of its first-quarter results in June, it narrowed its per-share earnings outlook to between $2.59 and $3.12 and projected adjusted per-share earnings of $3.80 to $4.20.
In premarket trading, Apogee's shares were down sharply, falling 11%. The stock last closed at $37.29, down 35% over the last 12 months.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
January 07, 2026 07:24 ET (12:24 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments