Apogee Enterprises Reduces Full Year Outlook - Quick Facts

(RTTNews) - Apogee Enterprises, Inc. (APOG) reduced its outlook for the full year 2019, primarily due to lower than expected second quarter results and decreased profit expectations for Architectural Glass. Adjusted EPS is now projected in a range of $3.13 to $3.33, compared to $3.48 to $3.68 previously. For 2019, revenue growth of 8 to 10 percent is now projected, compared to approximately 10 percent previously.

For the second-quarter, adjusted earnings were $0.75 per diluted share, in-line with the prior year. Revenue grew 5.3 percent to $362.1 million, driven by strong growth in Architectural Services, partially offset by lower revenue in Architectural Glass.

The company ended the quarter with total debt of $225 million. Fiscal year-to-date, Apogee has returned $8.8 million of cash to shareholders through dividend payments.