Architectural products company Apogee (NASDAQ: APOG) will be reporting earnings this Thursday afternoon. Here’s what investors should know.
Apogee beat analysts’ revenue expectations by 6.3% last quarter, reporting revenues of $346.6 million, up 4.6% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.
Is Apogee a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Apogee’s revenue to grow 2.5% year on year to $350.9 million, a reversal from the 3.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.84 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Apogee has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time since going public by 6.3% on average.
With Apogee being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for building products stocks. However, investors in the segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Apogee’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $52 (compared to the current share price of $42.89).
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