Apogee (APOG) To Report Q2 Earnings: What's In The Cards?
Zacks Investment Research | Sep 11, 2019 09:44PM ET
Apogee Enterprises, Inc. (NASDAQ:APOG) is slated to release second-quarter fiscal 2020 results on Sep 17, before the opening bell.
The Zacks Consensus Estimates for Apogee’s earnings per share is pegged at 57 cents for the fiscal second quarter — suggesting a fall of 24% from the year-ago quarter. The Zacks Consensus Estimate for revenues is pinned at $359 million, likely to drop from the year-ago quarter’s $362 million.
Let’s see how things are shaping up for this announcement.
Factors at Play
Apogee will likely benefit from solid bidding and order activities, a robust and increasing backlog, and an encouraging outlook for the North American commercial construction market in the to-be-reported quarter. Notably, this market is poised to grow throughout fiscal 2020, as its activities continue to reflect stellar growth across all regions and sectors in the United States, particularly, the office and institutional building segments, both of which are core markets for Apogee.
The company is also poised to benefit from its focus on strategy to grow and diversify the business, which will strengthen the company’s operations and boost profitability. The company’s continued focus on investment in projects will fuel growth and improve productivity.
Regarding acquisitions, Apogee is primarily focusing on the integration of EFCO to identify margin opportunities. The company is marching ahead with synergy goals by leveraging supplier relationships and driving on-time delivery. The company remains optimistic about this business’ long-term prospects.
Nevertheless, the company’s margins might be negatively impacted by start-up costs related to the strategic growth investment in Architectural Glass, as well as elevated corporate costs from higher legal expenses. Also, margins in the Architectural Services segment will likely be affected by lower volumes and lesser-favorable project maturity compared with fiscal 2019 levels in the soon-to-be-reported quarter.
Apogee Enterprises, Inc. Price and EPS Surprise
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