Shares of Apogee Enterprises (APOG) closed 11% higher at $45.92 Tuesday after the architectural glass and metal products developer reported second-quarter earnings came in ahead of expectations.
For the quarter ended Aug. 31 the Minneapolis company reported adjusted earnings of 74 cents a share against the FactSet-derived analyst consensus estimate of 64 cents. Revenue came in at $357.1 million against the estimate of $352.5 million.
The company touted its architectural-glass and architectural-services segments as catalysts for the quarter.
Apogee affirmed its outlook for fiscal 2020. The company expects to earn $3 to $3.20 a share, excluding a possible benefit from an expense recovery. FactSet’s survey is looking for $3.05. Revenue should grow 1% to 3%, Apogee said.