APOGEE Enterprises Reports Q2 FY2024 Earnings Results for Period Ending September 19 2023
September 21, 2023
🌥️Earnings Overview
APOGEE ENTERPRISES ($NASDAQ:APOG) reported earnings results for the second quarter of FY2024 on August 31 2023, which ended on September 19 2023. Total revenue decreased by 5.0% to USD 353.7 million, compared to the same period of the previous year, while net income decreased by 10.9% to USD 33.3 million.
Stock Price
On Tuesday, APOGEE ENTERPRISES reported their financial results for the fiscal quarter ending September 19 of 2023. The company opened at $49.6 and closed at $49.4, indicating a slight 0.1% increase from the previous session’s closing price of $49.3. The company released their earnings report, which showed a modest improvement in their financial performance, compared to the same period last year. The report detailed strong revenue growth due to increased sales volume and product demand as well as improved operating margins.
It also highlighted a strong cash flow position, driven by the continued demand for the company’s products. Overall, APOGEE ENTERPRISES reported positive results for the quarter, indicating that the company is on track to meet its financial objectives for FY 2024. Investors were upbeat about the results, with many expecting the company to continue to deliver strong results in the coming quarters. Live Quote…
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 |
| 1.43k | 100.89 | 7.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Apogee Enterprises. More…
| Operations | Investing | Financing |
| 167.9 | -38.1 | -141.63 |
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 |
| 908.58 | 476.26 | 18.58 |
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 |
| 3.6% | 26.3% | 9.8% |
| FCF Margin | ROE | ROA |
| 8.2% | 21.2% | 9.6% |
Analysis
GoodWhale has conducted an analysis of APOGEE ENTERPRISES‘s wellbeing. According to our Star Chart, APOGEE ENTERPRISES is strong in asset, and medium in dividend, growth, and profitability. APOGEE ENTERPRISES has a high health score of 10/10 with regard to its cashflows and debt, indicating its capability to pay off debt and fund future operations. As such, investors looking to invest in APOGEE ENTERPRISES should be aware that this is a company that may offer some stability in terms of its finances but may not necessarily provide high returns or rapid growth. Investors looking for long-term stability may find this type of investment attractive, while those seeking a higher return should be aware that APOGEE ENTERPRISES may not be the best choice. 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 recently reported their financial results for the second quarter of FY2024 and the results were not promising. Total revenue decreased by 5.0% compared to the same period last year, and net income decreased by 10.9%. Investors may be concerned with this news, as it can be an indicator of financial instability and decreased performance.
However, investors should look at the company’s long-term performance and other financial metrics to decide if APOGEE ENTERPRISES is a good investment. Analyzing factors such as debt levels, cash flow, and EPS can help investors determine if the company is a profitable buy.
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