Apogee Shares Climb In Pre-market On Better-than-expected Q2 Results, Outlook

(RTTNews) - Shares of Apogee Enterprises, Inc. (APOG), a provider of architectural products and services, were rising more than 7 percent in pre-market on Friday to $73.75, following better-than-expected second-quarter results. The company also raised its full-year earnings outlook better than the consensus estimates.

Excluding one-time items, earnings of $1.44 per share was above the analyst's average estimate of $1.23 per share.

Net profit for the quarter declined to $30.57 million or $1.40 per share from $33.33 million or $1.52 per share in the same quarter a year ago.

Sales for the quarter declined 3.2 percent year-on-year to $342.44 million, but beat the consensus estimate of $335.29 million.

Looking ahead, the company has raised its full-year adjusted EPS outlook to $4.90 to $5.20 from $4.65 to $5.00 guided earlier. The Steet is looking for earnings of $4.82.

Apogee shares had closed at $68.43, down 1.3 percent on Thursday. It has traded in the range of 41.01 - 71.49 in the last 1 year.