APOGEE ENTERPRISES Reports 1.4% Increase in Total Revenue for Q1 of FY2024
July 6, 2023
☀️Earnings Overview
APOGEE ENTERPRISES ($NASDAQ:APOG) announced its first quarter financials for FY2024, ending on May 31 2023, revealing total revenue of USD 361.7 million, a slight 1.4% increase from the year prior. Net income surged by 3.7%, reaching USD 23.6 million compared to the same quarter in the previous year.
Analysis
GoodWhale has conducted an analysis of APOGEE ENTERPRISES‘s wellbeing and based on Star Chart APOGEE ENTERPRISES is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This suggests that those investors who are looking for a steady and reliable return, but not necessarily high returns, may be interested in this type of company. Furthermore, APOGEE ENTERPRISES has a high health score of 10/10 considering its cashflows and debt, indicating that it is capable of paying off debt and funding future operations. Moreover, the company is strong in terms of its assets, but only medium in terms of dividend, growth, and profitability. This suggests that while it may not be the most profitable investment, it is still a relatively safe option for the conservative investor. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Apogee Enterprises. More…
| Total Revenues | Net Income | Net Margin |
| 1.45k | 104.95 | 7.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Apogee Enterprises. More…
| Operations | Investing | Financing |
| 154.44 | -33.7 | -119.91 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Apogee Enterprises. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 921.2 | 510.99 | 17.79 |
Key Ratios Snapshot
Some of the financial key ratios for Apogee Enterprises are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.0% | 21.0% | 8.7% |
| FCF Margin | ROE | ROA |
| 7.4% | 19.8% | 8.5% |
Peers
Apogee Enterprises Inc. and its competitors, PT Asahimas Flat Glass Tbk, Triveni Glass Ltd, and Simat-Garbovo AD, are all glass manufacturers. PT Asahimas Flat Glass Tbk is the largest glass manufacturer in Indonesia, while Triveni Glass Ltd is an Indian company. Simat-Garbovo AD is a Bulgarian company.
– PT Asahimas Flat Glass Tbk ($IDX:AMFG)
Asahimas Flat Glass Tbk is a publicly traded company with a market capitalization of 2.52T as of 2022. The company has a return on equity of 11.44%. Asahimas Flat Glass Tbk is a manufacturer of flat glass products. The company’s products are used in a variety of applications, including windows, doors, and automobiles.
– Triveni Glass Ltd ($BSE:502281)
Triveni Glass Ltd, based in Mumbai, India, is a manufacturer of pharmaceutical packaging products. The company has a market cap of 272.58M as of 2022 and a return on equity of 126.71%. Triveni Glass Ltd manufactures a wide range of products for the pharmaceutical industry, including ampoules, vials, and bottles. The company also manufactures a variety of other products, such as glass containers for the food and beverage industry.
Summary
APOGEE ENTERPRISES reported strong financial results for the first quarter of FY2024, with total revenue up 1.4% and net income rising 3.7% compared to the prior year. This resulted in an immediate uptick in the stock price. For investors, this is a positive sign of continued growth and profitability in the future.
Moreover, given the company’s impressive track record and strong fundamentals, it appears to be a good long-term investment opportunity. As such, investors should keep an eye on APOGEE ENTERPRISES and consider adding it to their portfolios.
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