APOGEE ENTERPRISES Reports Earnings for FY2024 Q1 as of May 31, 2023

🌥️Earnings Overview

On June 23 2023, APOGEE ENTERPRISES ($NASDAQ:APOG) announced their first quarter earnings results for FY2024, as of May 31 2023. Total revenue for the period was USD 361.7 million, a 1.4% year-over-year increase, with net income of USD 23.6 million, 3.7% higher than the same period from the previous year.

Stock Price

APOGEE ENTERPRISES released their financial report for fiscal year 2024 Q1 on Friday, May 31, 2023. The report indicated a 7.1% rise in their stock price from the prior closing price of $43.8, with the stock opening at $47.0 and closing at $46.9. This rise is a positive indication of the company’s financial health. This increase was mainly attributed to lower operating and administration costs which allowed the company to reduce their overhead.

Overall, the financial report from APOGEE ENTERPRISES for fiscal year 2024 Q1 was a positive indication of the company’s current financial standing. The rise in their stock price and profits shows that APOGEE ENTERPRISES is capable of successfully managing their finances and is well-positioned to continue to grow and be successful in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Apogee Enterprises. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Apogee Enterprises. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Apogee Enterprises. More…

Key Ratios Snapshot

Some of the financial key ratios for Apogee Enterprises are shown below. More…

Analysis

We here at GoodWhale recently conducted an analysis of the wellbeing of APOGEE ENTERPRISES. Based on our Risk Rating, APOGEE ENTERPRISES is a medium risk investment when it comes to financial and business aspects. Further investigation into the company’s income sheet and balance sheet revealed two risk warnings. If you’re interested in learning more about these warnings, please register with us and we will be more than happy to provide you with further information. More…

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 earnings for the first quarter of FY2024, with total revenue increasing to USD 361.7 million and net income of USD 23.6 million, a 3.7% year-over-year increase. The stock price responded positively to this news, indicating investor confidence in the company’s performance. Going forward, investors should keep an eye on APOGEE’s earnings growth and any changes to their financial strategy that could affect the stock price. It may be wise to consider market conditions and the company’s overall long-term outlook before investing in the stock.