Architectural products company Apogee (NASDAQ: APOG) will be reporting results this Friday morning. Here’s what to expect.
Apogee missed analysts’ revenue expectations last quarter, reporting revenues of $348.6 million, up 2.1% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and a miss of analysts’ revenue estimates.
Is Apogee a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Apogee’s revenue to decline 3% year on year, improving from the 4.5% decrease it recorded in the same quarter last year.
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 rarely misses Wall Street’s revenue estimates.
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. AZZ delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 0.7%, and Insteel reported revenues up 7.5%, falling short of estimates by 3.1%. Insteel traded down 28.4% following the results.
Read our full analysis of AZZ’s results here and Insteel’s results here.
There has been positive sentiment among investors in the building products segment, with share prices up 8.8% on average over the last month. Apogee is up 9.4% during the same time and is heading into earnings with an average analyst price target of $39.50 (compared to the current share price of $35.48).
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