Architectural products company Apogee (NASDAQ:APOG) will be reporting earnings this Friday before market open. Here’s what to look for.
Apogee beat analysts’ revenue expectations by 4.2% last quarter, reporting revenues of $345.7 million, down 4.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and full-year revenue guidance beating analysts’ expectations.
Is Apogee a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Apogee’s revenue to decline 1.6% year on year to $326.1 million, improving from the 8.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.45 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Apogee has missed Wall Street’s revenue estimates twice over the last two years.
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, there has been positive investor sentiment in the segment, with share prices up 2.1% 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 $55 (compared to the current share price of $39.62).
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