APOGEE ENTERPRISES INC
For the period ended Jun 27, 2024. Filed Jun 27, 2024.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Jun 27, 2024 · Filed Jun 27, 2024
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Contents
EX-99.1 · Architectural Framing Systems
Architectural Framing Systems
Architectural Framing Systems net sales were $133.2 million, compared to $164.2 million, primarily reflecting reduced volume due to lower end-market demand and the exit of certain lower-margin product lines as part of Project Fortify. Operating income was $18.3 million, which included $1.0 million of restructuring charges. Adjusted operating income was $19.3 million, or 14.5% of net sales, compared to $19.9 million, or 12.1% of net sales. The 240 basis point improvement in adjusted operating margin was primarily driven by favorable material costs, favorable mix, productivity gains and lower bad debt expense, partially offset by the impact of lower volume.
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