Why Apogee Enterprises Stock Shattered 16% Today

Core Viewpoint - Apogee Enterprises' stock is experiencing a significant decline despite reporting better-than-expected sales and earnings, primarily due to disappointing revenue growth and deteriorating profit margins [1][2][3]. Financial Performance - Apogee reported adjusted earnings of $1.19 per share on sales of$341.3 million, surpassing analyst expectations of $1.11 per share and$332.2 million in sales [1]. - Year-over-year revenue growth was only 0.5%, largely attributed to the acquisition of UW Interco, which contributed additional revenue [2]. - GAAP earnings were reported at $0.96 per share, significantly lower than the adjusted figures, with GAAP net profit down 22$4.90 per share on a GAAP basis for the year, suggesting a price-to-earnings ratio of approximately 12x based on a share price around $59 [6].