Apogee Enterprises, Inc. (NASDAQ:APOG) Q2 2024 Earnings Conference Call September 19, 2023 9:00 AM ET

Company Participants

Jeff Huebschen - Vice President, Investor Relations

Ty Silberhorn - Chief Executive Officer

Matt Osberg - Executive Vice President and Chief Financial Officer

Conference Call Participants

Chris Moore - CJS Securities

Julio Romero - Sidoti & Company

Jonathan Braatz - KCCA

Operator

Hello and welcome to Apogee Enterprises, Inc. Q2 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Jeff Huebschen. Sir, you may begin.

Jeff Huebschen

Thank you, Towanda. Good morning, and welcome to Apogee Enterprises Fiscal 2024 Second Quarter Earnings Call. With me today are Ty Silberhorn, Apogee's Chief Executive Officer; and Matt Osberg, Chief Financial Officer.

I'd like to remind everyone that there are slides to accompany today's remarks. These are available in the Investor Relations section of Apogee's website. During this call, we will reference certain non-GAAP financial measures. Definitions of these measures and reconciliation to the nearest GAAP measures are provided in the earnings release and slide deck we issued this morning.

I'd also like to remind everyone that our call will contain forward-looking statements. These reflect management's expectations based on currently available information. Actual results may differ materially. More information about factors that could affect Apogee's business and financial results can be found in today's press release and in our SEC filings.

And with that, I'll turn the call over to you, Ty.

Ty Silberhorn

Thank you, Jeff. Good morning, everyone, and thanks for joining us. Apogee has delivered another terrific quarter as we continue to advance our strategy. Let me touch on some highlights from the quarter and connect those to how our strategy continues to drive sustainable improvements in our business. Then I'll turn it over to Matt for more details on the quarter and our outlook.

Let's start with the highlights, which are on Page 4 in our presentation. Overall, this was another strong quarter that continued the positive momentum we've established the past two years. We are especially pleased to report an operating margin that exceeded our 10% target for the first time since we established our financial goals in late 2021.

This margin expansion drove adjusted earnings per share to a new quarterly record. I'm proud of our team for the work they've done to achieve these milestones. Just as importantly, we've demonstrated that we can meaningfully grow profit dollars and cash flow even in an environment without meaningful volume growth.