The following is a summary of the Apogee Enterprises, Inc. (APOG) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Apogee reported an increase in full-year adjusted operating income by 16% to $146 million and a 20% increase in adjusted EPS to a record $4.77.

• The company's net sales witnessed a decline of 2% for the year.

• The glass segment marked a substantial success, reporting double-digit sales growth in all the quarters and doubling its operating margin from the previous year.

• Crucial metric improvements included significant hikes in the adjusted operating margin and ROIC, 10.3%, and 16.5%, respectively.

Business Progress:

• Apogee embarked on a new strategic framework focusing on enhancing productivity and promoting growth in high-value product categories like Architectural Glass & Framing Systems.

• There's been an increased focus on geographic expansion, particularly within the services and framing systems sector, to diversify sales mix.

• Services saw improvements in backlog and diversification in project wins.

• Apogee is considering strategic investments within its framing business for expansion across North America.

• A new coder is projected to come online later this year for the Large-Scale Optical segment, expanding their product portfolio.

• Project Fortify aims to improve margin in the Architectural Framing segment, expecting annualized cost savings of between $12 - $14 million.

More details: Apogee Enterprises IR

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