Apogee Enterprises, Inc. (NASDAQ:APOG) Q4 2023 Earnings Conference Call April 12, 2023 9:00 AM ET

Company Participants

Jeff Huebschen - Vice President, Investor Relations & Communications

Ty Silberhorn - Chief Executive Officer

Mark Augdahl - Interim Chief Financial Officer

Conference Call Participants

Chris Moore - CJS Securities

Eric Stine - Craig Hallum

Brent Thielman - D.A. Davidson

Julio Romero - Sidoti & Company

Operator

Welcome to the Q4 2023 Apogee Enterprises Incorporated Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Jeff Huebschen, Investor Relations. Please go ahead.

Jeff Huebschen

Thank you, Michelle. Good morning, everyone and welcome to Apogee Enterprises fiscal 2023 fourth quarter earnings call. With me today are Ty Silberhorn, Apogee’s Chief Executive Officer and Mark Augdahl, Interim 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 a reconciliation to the nearest GAAP measures are provided in the earnings release and slide deck that 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 SEC filings.

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

Ty Silberhorn

Thanks, Jeff. While the fourth quarter was a solid finish to a terrific year for Apogee, we continue to improve execution across the company and we built momentum executing our strategy leading to a record full-year revenue and earnings per share. I'd like to congratulate the entire Apogee team for these terrific results.

This morning, I'll touch on the highlights from the quarter and the year, how our strategy is driving sustainable improvements in our business, and our priorities as we continue to execute that strategy in fiscal ‘24, then I'll turn it over to Mark for more details on the quarter and our outlook.

Overall, results in our fourth quarter were largely as expected. We continue to have solid operational execution, effectively managing price and costs. As we expected, holiday shutdowns and normal seasonality impacted sales volume, especially in Framing Systems. Architectural Glass delivered another quarter of impressive progress with operating margin exceeding 11%. Results were softer-than-expected in Architectural Services as we continue to work through the Sotawall integration and the improvement of that business.