Apogee Enterprises Earnings: Here’s Why Investors Don’t Like These Results

Apogee Enterprises, Inc. (NASDAQ:APOG) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 7.09%.

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Apogee Enterprises, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 36.36% to $0.15 in the quarter versus EPS of $0.11 in the year-earlier quarter.

Revenue: Rose 6.51% to $179.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Apogee Enterprises, Inc. reported adjusted EPS income of $0.15 per share. By that measure, the company missed the mean analyst estimate of $0.17. It missed the average revenue estimate of $179.96 million.

Quoting Management: “I am very pleased with our fiscal 2013 results, as our earnings per share more than tripled to $0.66 on revenue growth of 6 percent in commercial construction markets that continued to be flat,” said Joseph F. Puishys, Apogee chief executive officer. “Our architectural backlog is up 25 percent from the previous year end, and we generated $41 million in operating cash flow to support $35 million in capital investments for growth, productivity and product capabilities.”

Key Stats (on next page)…

Revenue decreased 5.63% from $190.42 million in the previous quarter. EPS decreased 46.43% from $0.28 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.15 and has not changed. For the current year, the average estimate is a profit of $0.68, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)