This presentation contains non-GAAP financial measures which the company uses to evaluate historical and prospective financial performance, measure operational profitability on a consistent basis, and provide enhanced transparency to the investment community. Definitions for these non-GAAP financial measures are included in today's press release and reconciliations to the most directly comparable GAAP measures are included at the end of this presentation.
This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "intend," "estimate," "forecast," "project," "should" and similar expressions are intended to identify "forward-looking statements". These statements reflect Apogee management's expectations or beliefs as
of the date of this presentation. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements are subject to significant risks that could cause actual results to differ materially from the expectations reflected in the forward-looking statements. More information concerning potential factors that could affect future financial results is included in today's press release, the company's Annual Report on Form 10-K for the fiscal year ended February 25, 2023, and in subsequent filings with the U.S. Securities and Exchange Commission.
Q2 FY2024 Earnings | September 19, 2023
Apogee Enterprises, Inc.
2
Agenda
Introductory remarks
Ty Silberhorn
Chief Executive Officer
Financial results and outlook
Matt Osberg
Chief Financial Officer
Q&A
University of Washington,
Nanoengineering & Sciences Building | Seattle, WA
Q2 FY2024 Earnings | September 19, 2023
Apogee Enterprises, Inc.
3
FY2024 Second Quarter Highlights
Operating margin of 11.5%, exceeding our target of ">10%"
Adjusted diluted EPS grew 28% to a record $1.36
Strong revenue growth and margin expansion in Glass
Sequential margin improvement in Services
Significant increase in operating cash flow compared to last year
Increasing our full-year adjusted diluted EPS outlook
Q2 FY2024 Results
Net sales
$354 M
(5)% year-over-year
Operating
$40.6 M
income
+26% year-over-year
Adjusted
$1.36
diluted
EPS*
+28% year-over-year
*Non-GAAP metric, see reconciliation table
Another quarter of strong margin expansion and adjusted earnings growth
Q2 FY2024 Earnings | September 19, 2023
Apogee Enterprises, Inc.
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Executing our Enterprise Strategy
Three Pillar
Enterprise
Strategy
To Unlock Profitable Growth
ECONOMIC
ACTIVELY
STRENGTHEN
LEADER
MANAGE
CORE
IN TARGET
THE PORTFOLIO
CAPABILITIES &
MARKETS
PLATFORMS
F O U N D A T I O N A L E N A B L E R S
•
Results-driven Culture
• Apogee Management System (AMS)
•
Talent Development
• Best-in-class Governance
Q2 FY2024 Earnings | September 19, 2023
Apogee Enterprises, Inc.
5
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Apogee Enterprises Inc. published this content on 19 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2023 15:18:10 UTC.
Apogee Enterprises, Inc. is a provider of architectural products and services for enclosing buildings, and high-performance glass and acrylic products used for preservation, energy conservation, and enhanced viewing. The Company's segments include Architectural Framing Systems, Architectural Glass, Architectural Services and Large-Scale Optical (LSO). Architectural Framing Systems segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems for the exterior of buildings. Architectural Glass segment coats and fabricates high-performance glass used in custom window and wall systems on non-residential buildings. Architectural Services segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install building glass and curtainwall systems. LSO segment manufactures high-performance glazing products for the custom framing, fine art, and engineered optics markets.
APOGEE ENTERPRISES, INC. 
