APOGEE ENTERPRISES INC
For the period ended Jun 27, 2025. Filed Jun 27, 2025.
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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, 2025 · Filed Jun 27, 2025
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Contents
EX-99.1 · Financial Condition
Financial Condition
Net cash used in operating activities was $19.8 million, compared to $5.5 million net cash provided by operating activities in the prior year period. The change was primarily driven by lower net earnings and an increase in cash used for working capital including a net payment of $13.7 million for the settlement of an arbitration award. Net cash used by investing activities was $7.0 million, primarily related to capital expenditures. The Company returned $5.5 million of cash to shareholders through dividend payments. Quarter-end long-term debt increased to $311 million, which increased the Consolidated Leverage Ratio 2 (as defined in the Company’s credit agreement) to 1.6x at the end of the quarter.
1 Backlog is a non-GAAP financial measure. See Use of Non-GAAP Financial Measures later in this press release for more information.
2 Consolidated Leverage Ratio is a non-GAAP financial measure. See Use of Non-GAAP Financial Measures later in this press release for more information.
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