Apogee Enterprises, Inc. (APOG - Free Report) delivered adjusted earnings per share of 58 cents in first-quarter fiscal 2020 (ended Jun 1, 2019), down 3.3% year over year. The quarterly figure surpassed the Zacks Consensus Estimate of 53 cents.
Apogee generated revenues of $355 million, up 6% year over year. Also, the figure comfortably beat the Zacks Consensus Estimate of $325 million. Higher demand in its end-markets drove the company’s top- and bottom-line results.
The company’s shares have returned 11.02% during the last trading session, closing at $43.74. The upside followed after the company generated better-than-expected fiscal first-quarter results.
Cost of sales in the reported quarter was up 7% year over year to $274 million. Gross profit inched up 0.3% year over year to $81 million. Gross margin came in at around 23% compared with 24% in the year-ago quarter.
Selling, general and administrative (SG&A) expenses declined 1% year over year to $58 million. Adjusted operating income fell 5.2% year over year to $23 million. Operating margin in the quarter was 6.5% compared with 7.2% in the prior-year quarter.
Apogee Enterprises, Inc. Price, Consensus and EPS Surprise