NASDAQ: APOG APOGEE ENTERPRISES, INC. 8-K

Apogee reports Q1 FY2027 EPS of $0.54, up from $(0.13) loss; reaffirms full-year guidance

Filed June 26, 2026 · Period ending June 26, 2026 · ~1 min read

Key Changes

high

Q1 diluted EPS swung to $0.54 from $(0.13) loss prior year; operating margin expanded 350 bps to 5.5% on cost savings from Project Fortify Phase 2 and productivity gains, despite 1.1% sales decline to $342.7M.

Exhibit 99.1 view on EDGAR →
high

Kalwall acquisition on track to close early July, expected to be accretive to adjusted EPS but not materially change FY2027 adjusted EPS outlook of $2.70–$3.25; net sales guidance raised to $1.43B–$1.48B (from $1.38B–$1.43B) to reflect the deal.

Exhibit 99.1 view on EDGAR →
medium

Architectural Glass adjusted EBITDA margin compressed to 8.7% from 18.3% on lower price, volume, and material cost inflation; Architectural Metals margin expanded to 11.2% from 7.3% on favorable mix and cost savings.

Exhibit 99.1 view on EDGAR →
medium

Architectural Services backlog grew to $734.5M from $682.9M at fiscal year-end, with sales up 8.2% on increased volume.

Exhibit 99.1 view on EDGAR →
medium

Returned $15.3M to shareholders via $9.7M in buybacks and $5.6M in dividends; leverage ratio held at 1.3x.

Exhibit 99.1 view on EDGAR →

Summary

Apogee Enterprises reported first-quarter fiscal 2027 results that showed a sharp turnaround in profitability despite a modest sales decline. Diluted EPS of $0.54 reversed a $0.13 loss in the prior-year quarter, driven by a 350-basis-point expansion in operating margin to 5.5%.

Management attributed the improvement to cost savings from its Project Fortify Phase 2 restructuring and productivity gains, which more than offset a 1.1% decline in net sales to $342.7 million.

The company reaffirmed its full-year adjusted EPS guidance of $2.70 to $3.25 and raised its net sales outlook to $1.43 billion to $1.48 billion to reflect the pending Kalwall acquisition, which is on track to close in early July. Segment performance was mixed. Architectural Metals saw margin expansion to 11.2% from 7.3% on favorable mix and cost discipline, while Architectural Services grew sales 8.2% and backlog increased to $734.5 million. However, Architectural Glass experienced a sharp margin compression to 8.7% from 18.3%, driven by lower pricing, volume, and material cost inflation—a headwind retail holders should monitor as a potential drag on near-term profitability. The company returned $15.3 million to shareholders through buybacks and dividends while maintaining a conservative 1.3x leverage ratio, positioning it to fund the Kalwall acquisition without material balance-sheet strain.

Section-by-Section Diff

Event · Exhibit 99.1

~5,100 words View exhibit on EDGAR ↗

Apogee reports Q1 FY2027 results: net sales $342.7M (down 1.1%), diluted EPS $0.54 vs. $(0.13) prior year, adjusted EPS $0.57; reaffirms FY2027 guidance.

4 Added

Added Q1 FY2027 earnings high

Added in current filing · view on EDGAR →

Net sales $ 342,684 $ 346,622 (1.1)% | Operating income $ 18,839 $ 6,931 171.8% | Operating margin 5.5 % 2.0 % | Net earnings $ 11,535 $ (2,688) 529.1%

Diluted earnings per share $ 0.54 $ (0.13) 515.4%

Apogee reported first-quarter fiscal 2027 net sales of $342.7 million, down 1.1% year-over-year, driven by lower volume partially offset by favorable pricing and mix. Operating income rose 171.8% to $18.8 million, and operating margin expanded 350 basis points to 5.5%, primarily due to cost savings from Project Fortify Phase 2 and productivity improvements. Diluted EPS swung to $0.54 from a loss of $0.13 in the prior-year quarter, reflecting the improved operating performance and lower interest expense.

Added FY2027 guidance reaffirmed high

Added in current filing · view on EDGAR →

Based on current macroeconomic conditions and excluding any impacts from the pending Kalwall acquisition, the Company continues to expect net sales to be in the range of $1.38 billion to $1.43 billion and adjusted diluted EPS in the range of $2.70 to $3.25. The Company’s outlook also continues to assume interest expense of approximately $10 million, an adjusted effective tax rate of 26% to 27%, and capital expenditures between $35 million and $40 million.

Assuming the pending Kalwall acquisition closes in early July, the Company expects net sales in the range of $1.43 billion to $1.48 billion. While the acquisition is expected to be accretive to adjusted diluted EPS, it is not expected to materially change the Company’s fiscal 2027 adjusted diluted EPS outlook of $2.70 to $3.25. The Company also expects interest expense to be approximately $14 million, an adjusted effective tax rate of 26% to 27%, and capital expenditures between $35 million and $40 million.

Apogee reaffirmed its fiscal 2027 guidance, expecting net sales of $1.38 billion to $1.43 billion and adjusted diluted EPS of $2.70 to $3.25, excluding the Kalwall acquisition. If Kalwall closes in early July as expected, the company raised its net sales guidance to $1.43 billion to $1.48 billion and increased expected interest expense from approximately $10 million to approximately $14 million, while maintaining the adjusted diluted EPS range of $2.70 to $3.25.

Added Segment performance medium

Added in current filing · view on EDGAR → · paraphrased

Architectural Metals

Net sales declined 4.8% to $122.4 million, driven by lower volume, partially offset by favorable price and product mix. Adjusted EBITDA was $13.7 million, or 11.2% of net sales, compared to $9.4 million, or 7.3% of net sales.

Architectural Services

Net sales increased 8.2% to $115.2 million, primarily due to increased volume. Adjusted EBITDA was $6.1 million, or 5.3% of net sales, compared to $6.1 million, or 5.7% of net sales. ... Segment backlog1 at the end of the quarter was $734.5 million compared to $682.9 million at the end of fiscal year 2026.

Architectural Glass

Net sales declined 7.6% to $67.7 million, driven by lower price and volume, partially offset by favorable mix. Adjusted EBITDA was $5.9 million, or 8.7% of net sales, compared to $13.4 million, or 18.3% of net sales.

Performance Surfaces

Net sales increased 4.9% to $44.3 million due to increased volume and favorable price. Adjusted EBITDA was $6.6 million, or 14.8% of net sales compared to $8.0 million, or 18.8% of net sales.

Segment results were mixed. Architectural Metals saw sales decline 4.8% but adjusted EBITDA margin expanded to 11.2% from 7.3%, driven by favorable mix and cost savings. Architectural Services grew sales 8.2% and backlog increased to $734.5 million from $682.9 million at fiscal year-end. Architectural Glass sales fell 7.6% and adjusted EBITDA margin compressed sharply to 8.7% from 18.3%, primarily due to lower price, volume, and material cost inflation. Performance Surfaces grew sales 4.9% but adjusted EBITDA margin declined to 14.8% from 18.8%, driven by higher material and freight costs.

Added Capital allocation medium

Added in current filing · view on EDGAR →

The Company returned $15.3 million of cash to shareholders, through $9.7 million of share repurchases and $5.6 million of dividends.

During the first quarter, Apogee returned $15.3 million to shareholders, consisting of $9.7 million in share repurchases and $5.6 million in dividends. The company maintained a Consolidated Leverage Ratio of 1.3x at quarter-end, with long-term debt slightly increasing to $237.4 million.