Apogee Enterprises, Inc. Files 2024 10-K Report

TL;DR

<b>Apogee Enterprises, Inc. has filed its 2024 10-K, detailing financial performance and position over the past three fiscal years.</b>

AI Summary

APOGEE ENTERPRISES, INC. (APOG) filed a Annual Report (10-K) with the SEC on April 26, 2024. Apogee Enterprises, Inc. filed its annual 10-K report for the fiscal year ending March 2, 2024. The company is incorporated in Minnesota and operates in the Glass Products, Made of Purchased Glass industry. The filing includes financial data for fiscal years ending February 27, 2021, through March 2, 2024. Key financial statement components such as Common Stock, Additional Paid-In Capital, Retained Earnings, and Accumulated Other Comprehensive Income are detailed for these periods. The report references specific accounting standards like 'Impairment Expense On Goodwill And Intangible Assets' and 'Accounts Payable Current'.

Why It Matters

For investors and stakeholders tracking APOGEE ENTERPRISES, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Apogee's financial health and operational performance, crucial for investors assessing the company's stability and growth prospects. The detailed financial data, including balance sheet components and references to specific accounting treatments, allows stakeholders to understand the company's financial structure and any potential impacts from accounting policies.

Risk Assessment

Risk Level: medium — APOGEE ENTERPRISES, INC. shows moderate risk based on this filing. The company's financial performance over the last three fiscal years, as detailed in the 10-K, will require careful analysis to understand trends and potential risks, especially given the lack of specific performance metrics in the provided header data.

Analyst Insight

Review the full 10-K filing to analyze Apogee Enterprises' revenue, net income, and debt-to-equity ratios for the fiscal years ending 2022, 2023, and 2024 to assess financial performance and trends.

Key Numbers

• 2024-03-02 — Fiscal Year End (Conformed Period of Report)
• 2024-04-26 — Filing Date (Filed as of Date)
• 0000006845 — Central Index Key (Filer identifier)
• 3231 — SIC Code (Industry classification)
• MN — State of Incorporation (Legal domicile)

Key Players & Entities

• APOGEE ENTERPRISES, INC. (company) — Filer name
• 0000006845 (company) — Central Index Key
• 3231 (company) — Standard Industrial Classification Code
• MN (company) — State of Incorporation
• 4400 WEST 78TH STREET SUITE 520 (company) — Business Address
• MINNEAPOLIS (company) — City in Business Address
• 20240302 (date) — Conformed Period of Report
• 20240426 (date) — Filed as of Date

FAQ

Key Dates

• 2024-03-02: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-26: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, containing detailed financial information.)

Impairment Expense On Goodwill And Intangible Assets

A non-cash charge recorded when the carrying value of goodwill or intangible assets exceeds their fair value. (Indicates potential overvaluation of acquired assets or declining performance of acquired businesses.)

Key Financial Figures

• $0.33 — ange on which registered Common Stock, $0.33 1/3 Par Value APOG The Nasdaq Stock Mar
• $49.87 — ,300,000 (based on the closing price of $49.87 per share as reported on The Nasdaq Sto

Filing Documents

• apog-20240302.htm (10-K) — 2179KB
• apog-ex21_2024030210k.htm (EX-21) — 17KB
• apog-ex23_2024030210k.htm (EX-23) — 3KB
• apog-ex311_2024030210k.htm (EX-31.1) — 9KB
• apog-ex312_2024030210k.htm (EX-31.2) — 9KB
• apog-ex321_2024030210k.htm (EX-32.1) — 4KB
• apog-ex322_2024030210k.htm (EX-32.2) — 4KB
• apog-ex971_2024030210k.htm (EX-97.1) — 33KB
• apog-20240302_g1.jpg (GRAPHIC) — 109KB
• 0000006845-24-000088.txt (&nbsp;) — 12373KB
• apog-20240302.xsd (EX-101.SCH) — 76KB
• apog-20240302_cal.xml (EX-101.CAL) — 130KB
• apog-20240302_def.xml (EX-101.DEF) — 304KB
• apog-20240302_lab.xml (EX-101.LAB) — 963KB
• apog-20240302_pre.xml (EX-101.PRE) — 671KB
• apog-20240302_htm.xml (XML) — 2098KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 17 I tem 1C. C ybersecurity 17 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 19 Item 4. Mine Safety Disclosures 19 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20 Item 6. Reserved 21 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 34 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 69 Item 9A.

Controls and Procedures

Controls and Procedures 70 Item 9B. Other Information 70 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 70 PART III Item 10. Directors, Executive Officers, Code of Ethics and Corporate Governance 70 Item 11. Executive and Director Compensation 70 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 71 Item 13. Certain Relationships and Related Transactions, and Director Independence 71 Item 14. Principal Accountant Fees and Services 71 PART IV Item 15. Exhibits and Financial Statement Schedules 71 Item 16. Form 10-K Summary 74

Signatures

Signatures 75 3 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K, including "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7, contains certain statements that are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current views with respect to future events and financial performance. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "believe," "expect," "anticipate," "intend," "estimate," "forecast," "project," "should," "will," "continue" or similar words or expressions. All forecasts and projections in this document are "forward-looking statements," and are based on management's current expectations or beliefs of the Company's near-term results, based on current information available pertaining to the Company, including the risk factors noted under Item 1A in this Form 10-K. From time to time, we also may provide oral and written forward-looking statements in other materials we release to the public, such as press releases, presentations to securities analysts or investors, or other communications by the Company. Any or all of our forward-looking statements in this report and in any public statements we make could be materially different from actual results. Accordingly, we wish to caution investors that any forward-looking statements made by or on behalf of the Company are subject to uncertainties and other factors that could cause actual results to differ materially from such statements. These uncertainties and other risk factors include, but are not limited to, the risks and uncertainties set forth under Item 1A in this Form 10-K, all of which are incorporated by reference into Item 7. We wish to caution investors that other factors might in the future prove to be important in affecting the Company's results of operations. New factors emerge from time

BUSINESS

ITEM 1. BUSINESS The Company Apogee Enterprises, Inc. (Apogee, we, us, our or the Company) was incorporated under the laws of the State of Minnesota in 1949. We are a leading provider of architectural products and services for enclosing buildings, and high-performance glass and acrylic products used in applications for preservation, protection and enhanced viewing. We have four reporting segments, with three of the four segments serving the non-residential construction market, and the fourth serving the custom framing and fine art market: The Architectural Framing Systems Segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems for the exterior of buildings. In fiscal 2024, this segment accounted for approximately 42% of our net sales. The Architectural Glass Segment coats and fabricates high-performance glass used in custom window and wall systems on non-residential buildings. In fiscal 2024, this segment accounted for approximately 24% of our net sales. The Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install building glass and curtainwall systems. In fiscal 2024, this segment accounted for approximately 27% of our net sales. The Large-Scale Optical (LSO) Segment manufactures high-performance glazing products for the custom framing, fine art, and engineered optics markets. In fiscal 2024, this segment accounted for approximately 7% of our net sales. Strategy Our enterprise strategy is based on the following three key elements: 1. Become the economic leader in our target markets. We are developing a deep understanding of our target markets and align our businesses with clear go-to-market strategies to drive value for our customers through differentiated product and service offerings. We will focus on operational execution, driving productivity improvements, and maintaining a competitive cost s

View Full Filing

View this 10-K filing on SEC EDGAR