Yahoo Finance Apogee (APOG) Q2 Earnings: What To Expect
Architectural products company Apogee (NASDAQ:APOG) will be reporting earnings tomorrow before the bell. Here's what investors should know.
Apogee beat analysts' revenue expectations by 7.2% last quarter, reporting revenues of $361.8 million, up 5.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts' operating margin 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 9.2% year on year to $328.5 million, a reversal from the 1.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.99 per share.
The majority of analysts covering the company have 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.
With Apogee being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for building products stocks. However, the whole sector has faced a sell-off over the last month with stocks in Apogee's peer group down 4% on average. Apogee is down 10.1% during the same time and is heading into earnings with an average analyst price target of $64 (compared to the current share price of $59.03).
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