Apogee Enterprises Q2 Profit Tops Estimates

(RTTNews) - Apogee Enterprises, Inc. (APOG) reported second quarter net earnings of $33.3 million, down 10.9% from last year. Earnings per share was $1.52 compared to $1.68. Adjusted EPS grew 28% to $1.36. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.12, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $353.7 million compared to $372.1 million, a year ago, primarily reflecting lower volumes in Architectural Services and Architectural Framing Systems, partially offset by strong growth in Architectural Glass. Analysts on average had estimated $372.01 million in revenue.

The company most recently provided an outlook for full-year GAAP EPS in the range of $4.15 to $4.45. The company now expects full-year adjusted EPS in the range of $4.35 to $4.65. Including the extra week of operations, the company continues to expect flat to slightly declining net sales.

Shares of Apogee Enterprises are up 3% in pre-market trade on Tuesday.

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