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Apogee (APOG) to Report Q1 Earnings: What's in the Cards?

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Apogee Enterprises, Inc. (APOG - Free Report) is slated to release first-quarter fiscal 2023 results on Jun 23, before the opening bell.

Which Way are the Estimates Headed?

The Zacks Consensus Estimates for Apogee’s earnings per share is pegged at 43 cents for the fiscal first quarter — suggesting year-over-year growth of 2.4%.

Let’s see how things are shaping up for this announcement.

Factors at Play

Apogee’s fiscal first-quarter performance is likely to have benefited from solid order activities, robust project backlog and improved end-market demand. Strong demand from new construction activities is anticipated to have been a growth driver. The company’s continued focus on pricing actions, strategy to grow and diversify revenue streams, cost-reduction actions and procurement savings and operational efficiency might have boosted the company’s profitability and margins in the quarter under review.

The Architectural Services segment continues to gain from new projects and focus on building a strong project pipeline, which is likely to have recorded impressive backlog growth in the fiscal first quarter. The Large-Scale Optical segment is anticipated to have benefited from improved demand from the pandemic-induced declines in fiscal 2021. Framing Systems segment might have gained from solid margin expansion, courtesy of the company’s pricing and restructuring actions and the relaunch of Lean to drive plant productivity in the fiscal first quarter. Moreover, the company’s segments have the potential to increase its market share, expand into newer geographies and markets and introduce fresh products.

Nevertheless, inflationary pressures, supply-chain disruptions and labor constraints might keep affecting the company’s production levels, impairing its ability to meet demand levels.

Apogee Enterprises, Inc. Price and EPS Surprise

 

Apogee Enterprises, Inc. Price and EPS Surprise

Apogee Enterprises, Inc. price-eps-surprise | Apogee Enterprises, Inc. Quote

 

Earnings Whispers

Our proven model doesn’t conclusively predict an earnings beat for Apogee this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Apogee is 0.00%.

Zacks Rank: Apogee currently carries a Zacks Rank of 3.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Price Performance

The company’s shares have gained 7.4% in the past year against the industry’s decline of 32.5%.

Zacks Investment Research
Image Source: Zacks Investment Research

Stocks to Consider

Here are some stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.

AutoNation, Inc. (AN - Free Report) currently has an Earnings ESP of +9.38% and a Zacks Rank of 2. The Zacks Consensus Estimate for second-quarter 2022 earnings has moved up in the past 60 days and is currently pegged at $5.95 per share. This suggests year-over-year growth of 23.2%.

The Zacks Consensus Estimate for quarterly revenues is pegged at $6.8 billion, indicating a decline of 1.6% from the prior-year quarter’s levels. AutoNation has a trailing four-quarter earnings surprise of 27.4%, on average.

F.N.B. Corporation (FNB - Free Report) currently has an Earnings ESP of +2.76% and a Zacks Rank of 3. The Zacks Consensus Estimate for second-quarter 2022 earnings is currently pegged at 30 cents per share, suggesting a 3.2% decline from the year-ago quarter’s tally. The same has moved up in the past 60 days.

The Zacks Consensus Estimate for F.N.B. Corp’s quarterly revenues is pinned at $332 million, indicating a year-over-year increase of 7.8%.

Dover Corporation (DOV - Free Report) currently has an Earnings ESP of +1.43% and a Zacks Rank #3. The Zacks Consensus Estimate for second-quarter 2022 earnings has undergone upward revisions in the past 60 days and is currently pegged at $2.10 per share. This suggests year-over-year growth of 1.9%.

The Zacks Consensus Estimate for Dover’s quarterly revenues is pegged at $2.19 billion, indicating year-over-year growth of 7.7%. DOV has a trailing four-quarter earnings surprise of 7.37%, on average.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.