- Apogee Enterprises Inc (NASDAQ:APOG) reported fourth-quarter 2023 sales growth of 4.9% year-over-year to $344.1 million, missing the consensus of $348.2 million.
- Revenue by segments: Architectural Framing Systems $148.6 million (+13% Y/Y); Architectural Glass $81.4 million (+12% Y/Y), Large-Scale Optical $27.2 million (+3% Y/Y) and Architectural Services $98.5 million (-14% Y/Y).
- Adjusted EPS declined to $0.86 from $0.91 in Q4FY22, above the consensus of $0.83.
- Gross margin contracted by 590 bps to 22.7%. The company reported an operating income of $25.7 million compared to a loss of $(8.6) million a year ago.
- Adjusted EBITDA decreased to $36.7 million from $38.2 million a year ago, and the margin declined by 90 bps to 10.7%.
- Apogee generated cash from operating activities of $102.7 million in FY23 versus $100.5 million a year ago. It had cash and equivalents of $19.9 million at Q4-end.
- FY24 Outlook: Apogee expects EPS of $3.90 – $4.25 versus the consensus of $3.91. It expects revenue growth to be flat to slightly decreasing in FY24 due to expected lower volumes in the Architectural Services segment.
- The company forecasts capital expenditures of $50 million – $60 million.
- Price Action: APOG shares are trading higher by 0.41% at $42.58 during the last check Wednesday.
Earnings Outlook For Sabra Health Care REIT
Sabra Health Care REIT (NASDAQ:SBRA) is set to give its latest quarterly earnings report on Wednesday, 2022-08-03. Here's what investors need to know before the announcement.
Analysts estimate that Sabra Health Care REIT will report an earnings per share (EPS) of $0.16.
