Apogee (APOG) Q4 Earnings & Revenues Miss Estimates, Down Y/Y
Zacks Investment Research | Apr 12, 2019 08:53AM ET
Apogee Enterprises, Inc. (NASDAQ:APOG) has reported adjusted earnings per share of 85 cents in fourth-quarter fiscal 2019 (ended Mar 2, 2019), which declined 11.5% year over year. The reported figure also missed the Zacks Consensus Estimate of 91 cents.
Apogee generated revenues of $346 million, down 2% year over year. Also, the revenue figure missed the Zacks Consensus Estimate of $357 million.
Operational Update
Cost of sales in the reported quarter was up 13% year over year to $302 million. Gross profit slumped 48% year over year to $44 million. Gross margin came in at around 13% compared to 24% recorded in the year-ago quarter.
Selling, general and administrative (SG&A) expenses flared up 2% year over year to $59 million. Adjusted operating income declined 8.4% year over year to $31 million. Operating margin in the quarter was 9.0% compared with 9.6% in the prior year quarter.
Apogee Enterprises, Inc. Price, Consensus and EPS Surprise
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