Architectural products company Apogee (NASDAQ:APOG) will be reporting results tomorrow before market open. Here’s what to look for.
Apogee beat analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $341.3 million, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a decent beat of analysts’ EPS estimates.
Is Apogee a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Apogee’s revenue to decline 8.3% year on year to $331.8 million, a reversal from the 5.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.87 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Apogee has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Apogee’s peers in the building products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Insteel delivered year-on-year revenue growth of 26.1%, beating analysts’ expectations by 7.2%, and AZZ reported a revenue decline of 4%, falling short of estimates by 4.3%. Insteel traded up 13.9% following the results while AZZ was also up 3.2%.
Read our full analysis of Insteel’s results here and AZZ’s results here.
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