Apogee Enterprises, Inc. (APOG) Q2 FY2027 earnings

Reported results

• Net sales increased 9.2% to $391.1 million, driven by $16.4 million contribution from Kalwall acquisition, price, and favorable mix, partially offset by lower volume.
• Gross margin rose 150 basis points to 24.6%, primarily due to price, productivity improvements including Project Fortify 2 benefits, and accretive impact of Kalwall acquisition.
• GAAP diluted EPS was $1.07 compared to $1.10 in the prior year; non-GAAP adjusted diluted EPS increased to $1.17 from $0.98.
• Non-GAAP adjusted EBITDA increased 11.7% to $49.5 million with non-GAAP adjusted EBITDA margin of 12.7% compared to 12.4%.
• Operating income increased 24.5% to $33.5 million with operating margin of 8.6%, up 110 basis points from 7.5%.
• Architectural Services segment backlog increased to $833.0 million from $792.3 million at fiscal year-end 2026.

Guidance

• Fiscal 2027 net sales guidance range raised to $1.46 billion–$1.50 billion from prior range of $1.38 billion–$1.43 billion.
• Fiscal 2027 non-GAAP adjusted diluted EPS guidance range raised to $3.00–$3.40 from prior range of $2.70–$3.25.
• Fiscal 2027 interest expense expected to be approximately $15 million.
• Fiscal 2027 adjusted effective tax rate expected to be approximately 26%.
• Fiscal 2027 capital expenditures expected to be between $35 million and $40 million.

Notes

Company completed Kalwall acquisition on July 1, 2026; Groglass acquisition is pending. Six-month year-to-date net cash from operating activities was $43.3 million. Quarter-end long-term debt increased to $335.5 million with Consolidated Leverage Ratio of 1.7x. Company returned $27.3 million to shareholders year-to-date through $16.1 million of share repurchases and $11.2 million of dividends.

Price and volatility reaction

The stock moved +12.2% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -11.9 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-06 (8-K, Item 2.02). Read the original filing on sec.gov.