Apogee Enterprises, Inc.
) is slated to report its second-quarter fiscal 2013 results after
the closing bell on September 19. Earnings according to the Zacks
Consensus Estimate for the quarter are projected at 9 cents per
share, representing an estimated year-over-year increase of 1,000%.
Revenues as per the Zacks Consensus Estimate are expected to be
APOGEE ENTRPRS (APOG): Free Stock Analysis
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First Quarter Synopsis
The company reported earnings of 6 cents per share in first-quarter
fiscal 2013, in stark contrast to the prior-year loss of 8 cents
per share. The results beat the Zacks Consensus Estimate of 3 cents
Total revenue increased 1% year over year to $154.1 million in the
reported quarter, missing the Zacks Consensus Estimate of $164
million. The modest improvement in top-line was mainly
attributable to growth in the Large-Scale Optical Technologies
Estimate Revision Trend
The estimate for the second quarter reflects absolute lack of
activity with no movement in either direction over the last 7 and
30 days. A similar trend is seen for fiscal 2013.
The Zacks Consensus Estimates remained unchanged for both the
second quarter and fiscal 2013 over the last 7 and 30 days
Earnings Surprise History
With respect to earnings surprises, Apogee has topped the Zacks
Consensus Estimate in all the last four quarters. The company has
delivered an average positive earnings surprise of 76.41% over the
preceding four quarters, implying that it has beaten the Zacks
Consensus Estimate by that measure.
Apogee is currently experiencing robust growth in the picture
framing glass and acrylic business. Improved architectural glass
pricing and higher margins will benefit earnings moving ahead.
However, weak global economic growth and uncertainty in the global
economic scenario can limit Apogee's near-term revenue visibility.
Further, any deterioration in the commercial construction market in
North America may lead to either delay or cancellation of projects,
causing headwinds for the company.
Apogee retains a short-term Zacks #3 Rank (Hold). We have a
long-term Outperform recommendation on the stock.