Apogee Enterprises Inc (NASDAQ:APOG) announced better-than-expected fiscal first-quarter results, beating analyst estimates on earnings and revenue.
The glass and metal company reported earnings of US$0.54 per share on revenue of US$336.53mln, compared with US$0.56 EPS on revenue of US$272.31mln in the previous year’s first quarter.
The Minneapolis-based company reported adjusted earnings of US$0.62, beating Wall Street estimates of US$0.53 EPS on revenue of $304.52mln.
“Robust 60% year-over-year top-line growth in the company’s largest segment, Architectural Framing Systems, as well as substantial increases in Architectural Services demonstrate how we are executing our plan to build a larger, more stable and more diversified - by geography, project size and market segment - revenue base,” said CEO Joe Puishys in a statement.
For fiscal 2019, the company predicts revenue growth of around 10% and has upped its earnings guidance.
The company expects earnings between US$3.35 and US$3.55 per share compared with its previous guidance of US$3.30 to US$3.50 per share.
Shares jumped more than 5% to US$45.56 in Thursday morning trading.
Contact Lenore Fedow at lenore@proactiveinvestors.com
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