Form 8-K

8-K — APOGEE ENTERPRISES, INC.

Accession: 0000006845-26-000020

Filed: 2026-04-24

Period: 2026-04-24

CIK: 0000006845

SIC: 3231 (GLASS PRODUCTS, MADE OF PURCHASED GLASS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — apog-20260424.htm (Primary)

EX-99.1 (a22826fy26q4results.htm)

GRAPHIC (apogee18a.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: apog-20260424.htm · Sequence: 1

apog-20260424

0000006845false00000068452026-04-242026-04-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 24, 2026

APOGEE ENTERPRISES, INC.

(Exact name of registrant as specified in its charter)

Minnesota 0-6365 41-0919654

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

4400 West 78th Street, Suite 520 Minneapolis Minnesota 55435

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (952) 835-1874

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, $0.33 1/3 Par Value APOG The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Section 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On April 24, 2026, Apogee Enterprises, Inc. issued a press release announcing its financial results for the fourth quarter and full year of fiscal 2026. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information furnished in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, and shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

Exhibit Number Description

99.1

Press Release issued by Apogee Enterprises, Inc. dated April 24, 2026

104 Cover page interactive data file (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

APOGEE ENTERPRISES, INC.

By: /s/ Mark R. Augdahl

Mark R. Augdahl

Executive Vice President and Chief Financial Officer

Dated: April 24, 2026

EX-99.1

Filename: a22826fy26q4results.htm · Sequence: 2

Document

Press Release

FOR RELEASE: April 24, 2026

APOGEE ENTERPRISES REPORTS FISCAL 2026 FOURTH QUARTER

AND FULL YEAR RESULTS

•Fourth-quarter net sales increased 1.6% to $351.4 million

•Fourth-quarter diluted EPS of $0.78 and adjusted diluted EPS of $0.92

•Full-year net sales increased 3.2% to $1.40 billion

•Full-year diluted EPS of $2.52 and adjusted diluted EPS of $3.47

•Company provides fiscal 2027 guidance

MINNEAPOLIS, MN, April 24, 2026 – Apogee Enterprises, Inc. (Nasdaq: APOG), a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications, today reported its results for the fourth quarter and full year of fiscal 2026, ended February 28, 2026. The Company reported the following selected financial results:

Three Months Ended

(Unaudited, $ in thousands, except per share amounts)

February 28, 2026 March 1, 2025 % Change

Net sales $ 351,354 $ 345,694 1.6%

Net earnings $ 16,620 $ 2,485 568.8%

Diluted earnings per share

$ 0.78 $ 0.11 609.1%

Non-GAAP Measures1

Adjusted EBITDA

$ 42,418 $ 41,105 3.2%

Adjusted EBITDA margin 12.1 % 11.9 %

Adjusted diluted earnings per share $ 0.92 $ 0.89 3.4%

(1)

Earnings before interest, taxes, depreciation and amortization (EBITDA), EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per share (EPS) are non-GAAP financial measures. See Use of Non-GAAP Financial Measures and reconciliations to the most directly comparable GAAP measures later in this press release.

"We delivered fourth‑quarter results ahead of our expectations and closed out the fiscal year strongly. The teams executed well as they continued to serve our customers in a dynamic operating environment,” said Donald Nolan, Executive Chair and CEO. “Throughout the fiscal year, we continued to focus on our priorities while actively managing our cost structure and returning cash to shareholders through dividends and share buybacks. This, along with generating strong cash flow, supports a resilient and flexible balance sheet for future growth opportunities."

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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"As we enter the new fiscal year, we are mindful of ongoing market conditions and are navigating the environment with an emphasis on serving our customers and executing across our operations,” Nolan added. “We intend to maintain prudent and disciplined cost management while being thoughtful and selective in pursuing growth investments, prioritizing opportunities with clear strategic alignment and financial returns that support long‑term value creation."

Fourth-Quarter Consolidated Results (Fourth Quarter Fiscal 2026 compared to Fourth Quarter Fiscal 2025)

•Net sales increased 1.6% to $351.4 million, driven by favorable price and mix, partially offset by lower volume.

•Gross margin rose 80 basis points to 22.4%, primarily due to a non-recurring $9.4 million arbitration decision expensed in the prior year, productivity improvements including savings from Project Fortify 2, and lower risk-related insurance expenses, partially offset by higher aluminum costs, impacts from lower volume, and higher health insurance costs.

•Selling, general and administrative (SG&A) expenses as a percentage of net sales decreased 470 basis points to 15.1%, primarily due to a non-recurring impairment charge in the Metals segment in the prior year, lower incentive compensation, acquisition-related expenses incurred in the prior year, and benefits from cost savings of Fortify Phase 2, partially offset by restructuring related expenses.

•Operating income increased to $25.8 million from $6.1 million, and operating margin increased 550 basis points to 7.3%.

•Adjusted EBITDA increased to $42.4 million, compared to $41.1 million, and adjusted EBITDA margin increased to 12.1%, compared to 11.9%. The increase in adjusted EBITDA margin was primarily driven by lower incentive compensation and risk-related insurance expenses, productivity improvements, and benefits from cost savings of Fortify Phase 2, partially offset by higher aluminum costs, reduction in volume, and higher health insurance costs.

•Interest expense decreased to $2.8 million, compared to $3.5 million, primarily due to lower debt.

•Diluted earnings per share (EPS) were $0.78, compared to $0.11, and adjusted diluted EPS increased to $0.92, compared to $0.89.

Full-Year Consolidated Results (Fiscal 2026 compared to Fiscal 2025)

•Net sales increased 3.2% to $1.40 billion, driven by $65.3 million of inorganic sales contribution from the acquisition of UW Solutions, partially offset by lower volume.

•Operating income declined to $84.5 million from $118.1 million, and operating margin decreased by 270 basis points to 6.0%.

•Adjusted EBITDA decreased to $167.3 million, compared to $192.7 million, and adjusted EBITDA margin decreased to 11.9%, compared to 14.2%. The decrease was primarily due to higher aluminum costs, impacts from lower volume, and health insurance costs, partially offset by lower incentive compensation and risk-related insurance expenses, and benefits from cost savings of Fortify Phase 2.

•Diluted EPS was $2.52, compared to $3.89. Adjusted diluted EPS declined to $3.47 from $4.97.

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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Fourth Quarter Segment Results (Fourth Quarter Fiscal 2026 Compared to Fourth Quarter Fiscal 2025)

Architectural Metals

Net sales declined 1.9% to $110.0 million, driven by lower volume, partially offset by favorable price and product mix. Adjusted EBITDA was $7.2 million, or 6.5% of net sales, compared to $7.0 million, or 6.3% of net sales. The higher adjusted EBITDA margin was primarily driven by favorable productivity from Fortify Phase 2, and product mix, partially offset by higher aluminum costs and impact from lower volume.

Architectural Services

Net sales increased 7.8% to $127.1 million, primarily due to increased volume, partially offset by price. Adjusted EBITDA was $9.6 million, or 7.5% of net sales, compared to $9.6 million, or 8.2% of net sales. The decrease in adjusted EBITDA margin was primarily driven by lower price, partially offset by the impact from higher volume and improved productivity. Segment backlog1 at the end of the quarter was $693.8 million compared to $774.7 million at the end of the third quarter.

Architectural Glass

Net sales declined 10.4% to $67.4 million, driven by lower volume and price. Adjusted EBITDA was $9.1 million, or 13.5% of net sales, compared to $14.1 million, or 18.8% of net sales. The decrease in adjusted EBITDA margin was primarily driven by impact from lower volume and price and higher material and freight costs, partially offset by productivity improvements, lower incentive compensation and warranty-related expenses.

Performance Surfaces

Net sales increased 13.5% to $54.3 million due to increased volume. Adjusted EBITDA was $10.5 million, or 19.4% of net sales compared to $12.8 million, or 26.8% of net sales. The decrease in adjusted EBITDA margin was primarily driven by higher manufacturing and materials costs, partially offset by impact from higher volume.

Corporate and Other

Corporate and other adjusted EBITDA increased to $6.0 million, compared to expense of $2.5 million, primarily due to lower incentive compensation and risk-related insurance expenses, partially offset by higher health insurance costs.

Financial Condition

Net cash provided by operating activities in the fourth quarter was $55.8 million, compared to $30.0 million in the prior year period. For the full year, net cash provided by operating activities was $122.5 million, compared to $125.2 million last year. Capital expenditures for the full year were $27.3 million, compared to $35.6 million last year.

For the full year, the Company returned $37.2 million of cash to shareholders, through $15.0 million of share repurchases and $22.2 million of dividends.

Quarter-end long-term debt decreased to $232.3 million, an improvement of $52.7 million, bringing the Consolidated Leverage Ratio2 (as defined in the Company’s credit agreement) to 1.3x at the end of the quarter.

Project Fortify

The Company substantially completed Project Fortify Phase 2 during the fourth quarter and incurred $3.9 million of pre-tax charges. Total pre-tax charges incurred under the program were $27.4 million. The Company estimates annualized cost savings of approximately $26 million as a result of the Project Fortify program.

1 Backlog is a non-GAAP financial measure. See Use of Non-GAAP Financial Measures later in this press release for more information.

2 Consolidated Leverage Ratio is a non-GAAP financial measure. See Use of Non-GAAP Financial Measures later in this press release for more information.

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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Fiscal 2027 Outlook

Based on current macroeconomic conditions, the Company expects net sales to be in the range of $1.38 billion to $1.43 billion, and adjusted diluted EPS in the range of $2.70 to $3.25. The Company’s outlook assumes interest expense of approximately $10 million, an adjusted effective tax rate of 26% to 27%, and capital expenditures between $35 million to $40 million.

Conference Call Information

The Company will host a conference call today at 8:00 a.m. Central Time to discuss this earnings release. This call will be webcast and is available in the Investor Relations section of the Company’s website, along with presentation slides, at https://www.apog.com/events-and-presentations. A replay and transcript of the webcast will be available on the Company’s website following the conference call.

About Apogee Enterprises

Apogee Enterprises, Inc. (Nasdaq: APOG) is a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications. Headquartered in Minneapolis, MN, our portfolio of industry-leading products and services includes architectural glass, windows, curtainwall, storefront and entrance systems, integrated project management and installation services, and high-performance coatings that provide protection, innovative design, and enhanced performance. For more information, visit www.apog.com.

Use of Non-GAAP Financial Measures

Management uses non-GAAP measures to evaluate the Company’s historical and prospective financial performance, measure operational profitability on a consistent basis, as a factor in determining executive compensation, and to provide enhanced transparency to the investment community. Non-GAAP measures should be viewed in addition to, and not as a substitute for, the reported financial results of the Company prepared in accordance with GAAP. Other companies may calculate these measures differently, limiting the usefulness of the measures for comparison with other companies. This release and other financial communications may contain the following non-GAAP measures:

•Adjusted operating income, adjusted operating margin, adjusted net earnings, and adjusted diluted EPS are used by the Company to provide meaningful supplemental information about its operating performance by excluding amounts that the Company does not consider to be part of core operating results, to enhance comparability of results from period to period.

•Adjusted EBITDA represents adjusted net earnings before interest, taxes, depreciation, and amortization. The Company believes adjusted EBITDA and adjusted EBITDA margin metrics provide useful information to investors and analysts about the Company’s core operating performance.

•Consolidated Leverage Ratio is calculated as Consolidated Funded Indebtedness minus Unrestricted Cash at the end of the current period, divided by Consolidated EBITDA . All capitalized and undefined terms used in this bullet are defined in the Company’s credit agreement dated July 19, 2024, and defined as an exhibit to our form 10-K for the year ended March 1, 2025. The Company is unable to present a quantitative reconciliation of forward-looking expected Consolidated Leverage Ratio to its most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict all the necessary components of such GAAP financial measure without unreasonable effort or expense. In addition, the Company believes such reconciliation would imply a degree of precision that would be confusing or misleading to investors.

•Backlog is defined as the dollar amount of signed contracts or firm orders, generally as a result of a competitive bidding process, which is expected to be recognized as revenue. Backlog is an operating measure used by management to assess future potential sales revenue. It is most meaningful for the Architectural Services segment, due to the longer-term nature of their projects. Backlog is not a term defined under U.S. GAAP and is not a measure of contract profitability. Backlog should not be used as

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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the sole indicator of future revenue because the Company has a substantial number of projects with short lead times that book-and-bill within the same reporting period that are not included in backlog.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The words “may,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “should,” “will,” “continue,” and similar expressions are intended to identify “forward-looking statements”. These statements reflect Apogee management’s expectations or beliefs as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified by factors that may affect the results, performance, financial condition, prospects and opportunities of the Company, including the following: (A) North American and global economic conditions, including the cyclical nature of the North American and Latin American non-residential construction industries and the potential impact of an economic downturn or recession; (B) U.S. and global instability and uncertainty arising from events outside of our control; (C) actions of new and existing competitors; (D) departure of key personnel and ability to source sufficient labor; (E) product performance, reliability and quality issues; (F) project management and installation issues that could affect the profitability of individual contracts; (G) financial and operating results that could differ from market expectations; (H) self-insurance risk related to a material product liability or other events for which the Company is liable; (I) maintaining our information technology systems and potential cybersecurity threats; (J) cost of regulatory compliance, including environmental regulations; (K) supply chain disruptions, including fluctuations in the availability and cost of materials used in our products and the impact of trade policies and regulations, including existing and potential future tariffs; (L) integration and future operating results of acquisitions, including but not limited to the acquisition of UW Solutions, and management of acquired contracts; (M) impairment of goodwill or indefinite-lived intangible assets; (N) our ability to successfully manage and implement our enterprise strategy; (O) our ability to maintain effective internal controls over financial reporting; (P) our judgments regarding accounting for tax positions and resolution of tax disputes; (Q) the impacts of cost inflation and interest rates; and (R) the impact of changes in capital and credit markets on our liquidity and cost of capital. The Company cautions investors that actual future results could differ materially from those described in the forward-looking statements and that other factors may in the future prove to be important in affecting the Company’s results, performance, prospects, or opportunities. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor can it assess the impact of each factor on the business or the extent to which any factor, or a combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. More information concerning potential factors that could affect future financial results is included in the Company’s Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission.

Contact

Jeremy Steffan

Vice President, Investor Relations & Communications

952.346.3502

ir@apog.com

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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Apogee Enterprises, Inc.

Consolidated Statements of Income

(Unaudited)

Three Months Ended Twelve Months Ended

(In thousands, except per share amounts) February 28, 2026 March 1, 2025 % Change February 28, 2026 March 1, 2025 % Change

Net sales $ 351,354 $ 345,694 1.6 % $ 1,404,733 $ 1,360,994 3.2 %

Cost of sales 272,605 271,127 0.5 % 1,085,259 1,001,101 8.4 %

Gross profit 78,749 74,567 5.6 % 319,474 359,893 (11.2) %

Selling, general and administrative expenses 52,974 68,433 (22.6) % 235,000 241,783 (2.8) %

Operating income 25,775 6,134 320.2 % 84,474 118,110 (28.5) %

Interest expense, net 2,828 3,525 (19.8) % 13,976 6,159 126.9 %

Other (income) expense, net (42) (130) (67.7) % (6,958) (623) 1,016.9 %

Earnings before income taxes 22,989 2,739 739.3 % 77,456 112,574 (31.2) %

Income tax expense 6,369 254 2,407.5 % 23,325 27,522 (15.2) %

Net earnings $ 16,620 $ 2,485 568.8 % $ 54,131 $ 85,052 (36.4) %

Basic earnings per share $ 0.79 $ 0.12 558.3 % $ 2.54 $ 3.91 (35.0) %

Diluted earnings per share $ 0.78 $ 0.11 609.1 % $ 2.52 $ 3.89 (35.2) %

Weighted average basic shares outstanding 21,130 21,539 (1.9) % 21,295 21,726 (2.0) %

Weighted average diluted shares outstanding 21,454 21,793 (1.6) % 21,517 21,891 (1.7) %

Cash dividends per common share $ 0.27 $ 0.26 3.8 % $ 1.05 $ 1.01 4.0 %

% of Sales

Gross margin 22.4 % 21.6 % 22.7 % 26.4 %

Selling, general and administrative expenses 15.1 % 19.8 % 16.7 % 17.8 %

Operating margin 7.3 % 1.8 % 6.0 % 8.7 %

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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Apogee Enterprises, Inc.

Consolidated Condensed Balance Sheets

(Unaudited)

(In thousands) February 28, 2026 March 1, 2025

Assets

Current assets

Cash and cash equivalents $ 39,523 $ 41,448

Receivables, net 198,516 185,590

Inventories, net 98,059 92,305

Contract assets 59,512 71,842

Other current assets 43,823 50,919

Total current assets 439,433 442,104

Property, plant and equipment, net 255,032 268,139

Operating lease right-of-use assets 48,736 62,314

Goodwill 236,744 235,775

Intangible assets, net 111,261 128,417

Other non-current assets 31,139 38,520

Total assets $ 1,122,345 $ 1,175,269

Liabilities and shareholders' equity

Current liabilities

Accounts payable $ 105,478 $ 98,804

Accrued compensation and benefits 39,667 48,510

Contract liabilities 60,903 35,193

Operating lease liabilities 14,729 15,290

Other current liabilities 46,079 87,659

Total current liabilities 266,856 285,456

Long-term debt 232,279 285,000

Non-current operating lease liabilities 39,375 51,632

Non-current self-insurance reserves 24,914 30,382

Other non-current liabilities 47,127 34,901

Total shareholders’ equity 511,794 487,898

Total liabilities and shareholders’ equity $ 1,122,345 $ 1,175,269

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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Apogee Enterprises, Inc.

Consolidated Statement of Cash Flows

(Unaudited)

Twelve Months Ended

February 28, 2026 March 1, 2025

(In thousands)

Operating Activities

Net earnings $ 54,131 $ 85,052

Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation and amortization 49,998 44,608

Share-based compensation 8,246 10,725

Deferred income taxes 15,483 3,836

Impairment of long-lived assets 11,477 7,634

Settlement of New Markets Tax Credit transaction (6,740) —

Non-cash lease expense 6,574 13,749

Other, net (1,671) (1,247)

Changes in operating assets and liabilities:

Receivables (12,409) (508)

Inventories (5,340) (5,810)

Contract assets 12,583 (22,625)

Accounts payable 5,515 9,595

Accrued compensation and benefits (9,117) (11,793)

Contract liabilities 25,649 598

Operating lease liability (9,706) (12,703)

Accrued income taxes 3,858 (5,120)

Other current assets and liabilities (26,066) 9,171

Net cash provided by operating activities 122,465 125,162

Investing Activities

Capital expenditures (27,308) (35,593)

Proceeds from sales of property, plant and equipment 1,632 693

Purchases of marketable securities (9,670) (2,394)

Sales/maturities of marketable securities 4,820 3,570

Acquisition of business, net of cash acquired — (232,169)

Net cash used by investing activities (30,526) (265,893)

Financing Activities

Proceeds from revolving credit facilities 93,000 77,201

Repayment on revolving credit facilities (143,000) (57,201)

Proceeds from term loans — 250,000

Repayment of term loans (2,722) (47,000)

Payments of debt issuance costs — (3,798)

Repurchase of common stock (15,000) (45,364)

Dividends paid (22,216) (21,737)

Other, net (6,241) (6,052)

Net cash (used by) provided by financing activities (96,179) 146,049

Effect of exchange rates on cash 2,315 (1,086)

(Decrease) increase in cash and cash equivalents (1,925) 4,232

Cash and cash equivalents at beginning of period 41,448 37,216

Cash and cash equivalents at end of period $ 39,523 $ 41,448

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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Apogee Enterprises, Inc.

Components of Changes in Net Sales

(Unaudited)

Three months ended February 28, 2026, compared with the three months ended March 1, 2025

(In thousands, except percentages)

Architectural Metals

Architectural Services

Architectural Glass

Performance Surfaces

Intersegment eliminations

Consolidated

Fiscal 2025 net sales $ 112,148 $ 117,895 $ 75,157 $ 47,899 $ (7,405) $ 345,694

Organic business (1)

(2,111) 9,175 (7,804) 6,447 (47) 5,660

Fiscal 2026 net sales $ 110,037 $ 127,070 $ 67,353 $ 54,346 $ (7,452) $ 351,354

Total net sales growth (decline) (1.9) % 7.8 % (10.4) % 13.5 % 0.6 % 1.6 %

Twelve months ended February 28, 2026 , compared with the twelve months ended March 1, 2025

(In thousands, except percentages) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Intersegment eliminations Consolidated

Fiscal 2025 net sales $ 524,709 $ 419,861 $ 322,197 $ 122,131 $ (27,904) $ 1,360,994

Organic business (1)

(20,681) 19,371 (38,538) 10,564 7,752 (21,532)

Acquisition (2)

— — — 65,271 — 65,271

Fiscal 2026 net sales $ 504,028 $ 439,232 $ 283,659 $ 197,966 $ (20,152) $ 1,404,733

Total net sales growth (decline) (3.9) % 4.6 % (12.0) % 62.1 % (27.8) % 3.2 %

Organic business (1)

(3.9) % 4.6 % (12.0) % 8.6 % (27.8) % (1.6) %

Acquisition (2)

— % — % — % 53.4 % — % 4.8 %

(1)

Organic business is defined as (declines) growth in net sales from legacy businesses and from acquired businesses, twelve months after the acquisition date.

(2) The acquisition of UW Solutions, completed on November 4, 2024.

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

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Apogee Enterprises, Inc.

Business Segment Information

(Unaudited)

Three Months Ended Twelve Months Ended

(In thousands) February 28, 2026 March 1, 2025 % Change February 28, 2026 March 1, 2025 % Change

Segment net sales

Architectural Metals $ 110,037 $ 112,148 (1.9) % $ 504,028 $ 524,709 (3.9) %

Architectural Services 127,070 117,895 7.8 % 439,232 419,861 4.6 %

Architectural Glass 67,353 75,157 (10.4) % 283,659 322,197 (12.0) %

Performance Surfaces 54,346 47,899 13.5 % 197,966 122,131 62.1 %

Intersegment eliminations (7,452) (7,405) 0.6 % (20,152) (27,904) (27.8) %

Net sales $ 351,354 $ 345,694 1.6 % $ 1,404,733 $ 1,360,994 3.2 %

Segment adjusted EBITDA

Architectural Metals $ 7,163 $ 7,039 1.8 % $ 54,109 $ 70,591 (23.3) %

Architectural Services 9,575 9,624 (0.5) % 30,856 33,533 (8.0) %

Architectural Glass 9,101 14,114 (35.5) % 45,699 71,664 (36.2) %

Performance Surfaces 10,544 12,834 (17.8) % 41,643 30,886 34.8 %

Corporate and other 6,035 (2,506) (340.8) % (5,004) (14,021) (64.3) %

Adjusted EBITDA $ 42,418 $ 41,105 3.2 % $ 167,303 $ 192,653 (13.2) %

Segment adjusted EBITDA margins

Architectural Metals 6.5 % 6.3 % 10.7 % 13.5 %

Architectural Services 7.5 % 8.2 % 7.0 % 8.0 %

Architectural Glass 13.5 % 18.8 % 16.1 % 22.2 %

Performance Surfaces 19.4 % 26.8 % 21.0 % 25.3 %

Adjusted EBITDA margin 12.1 % 11.9 % 11.9 % 14.2 %

•Segment net sales is defined as net sales of the segment including revenue related to intersegment transactions.

•Intersegment net sales eliminations are presented separately to exclude these sales from our consolidated total.

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

Page 11

Apogee Enterprises, Inc.

Reconciliation of Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted EBITDA Margin

(Unaudited)

Three Months Ended February 28, 2026

(In thousands) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Corporate and Other Consolidated

Net earnings (loss) $ 968 $ 9,339 $ 5,782 $ 6,533 $ (6,002) $ 16,620

Interest expense (income), net 401 (83) (249) — 2,759 2,828

Income tax expense — — 97 — 6,272 6,369

Depreciation and amortization 3,584 802 3,471 3,904 777 12,538

EBITDA 4,953 10,058 9,101 10,437 3,806 38,355

Acquisition-related costs (1)

— — — 107 65 172

Restructuring costs (2)

2,210 (483) — — 2,164 3,891

Adjusted EBITDA $ 7,163 $ 9,575 $ 9,101 $ 10,544 $ 6,035 $ 42,418

EBITDA margin 4.5 % 7.9 % 13.5 % 19.2 % N/M 10.9 %

Adjusted EBITDA margin 6.5 % 7.5 % 13.5 % 19.4 % N/M 12.1 %

Three Months Ended March 01, 2025

(In thousands) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Corporate and Other Consolidated

Net earnings (loss) $ (6,163) $ 8,575 $ 11,109 $ 6,129 $ (17,165) $ 2,485

Interest expense (income), net 441 (13) (91) — 3,187 3,524

Income tax expense — — (22) — 276 254

Depreciation and amortization 3,859 1,092 3,118 5,041 701 13,811

EBITDA (1,863) 9,654 14,114 11,170 (13,001) 20,074

Acquisition-related costs (1)

— — — 1,664 1,230 2,894

Restructuring costs (2)

1,268 (30) — — (128) 1,110

Impairment expense (3)

7,634 — — — — 7,634

Arbitration award expense (4)

— — — — 9,393 9,393

Adjusted EBITDA $ 7,039 $ 9,624 $ 14,114 $ 12,834 $ (2,506) $ 41,105

EBITDA margin (1.7 %) 8.2 % 18.8 % 23.3 % N/M 5.8 %

Adjusted EBITDA margin 6.3 % 8.2 % 18.8 % 26.8 % N/M 11.9 %

(1) Acquisition-related costs relate to one-time expenses incurred to integrate the UW Solutions acquisition. In fiscal year 2025, it excludes $1.5 million of backlog amortization added back as part of the depreciation and amortization above.

(2)

Restructuring costs related to Project Fortify. Costs incurred in fiscal year 2025 were associated with Phase 1 and costs incurred in fiscal year 2026 are associated with Phase 2, including $0.6 million of asset impairment charges in fiscal 2026.

(3) Impairment expense on intangible assets in the Architectural Metals Segment.

(4) Expense related to an arbitration award, which represents the impact of the award amount net of existing reserves and estimated insurance proceeds.

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

Page 12

Apogee Enterprises, Inc.

Reconciliation of Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted EBITDA Margin

(Unaudited)

Twelve Months Ended February 28, 2026

(In thousands) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Corporate and Other Consolidated

Net earnings (loss) $ 37,775 $ 12,193 $ 32,661 $ 24,659 $ (53,157) $ 54,131

Interest expense (income), net 1,733 (310) (699) — 13,252 13,976

Income tax (benefit) expense (43) (8) 295 — 23,081 23,325

Depreciation and amortization 14,813 3,593 13,442 15,153 2,997 49,998

EBITDA 54,278 15,468 45,699 39,812 (13,827) 141,430

Acquisition-related costs (1)

— — — 1,831 313 2,144

Restructuring costs (2)

6,571 15,388 — — 5,484 27,443

CEO transition costs (3)

— — — — 3,026 3,026

NMTC settlement gain (4)

(6,740) — — — — (6,740)

Adjusted EBITDA $ 54,109 $ 30,856 $ 45,699 $ 41,643 $ (5,004) $ 167,303

EBITDA margin 10.8 % 3.5 % 16.1 % 20.1 % N/M 10.1 %

Adjusted EBITDA margin 10.7 % 7.0 % 16.1 % 21.0 % N/M 11.9 %

Twelve Months Ended March 01, 2025

(In thousands) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Corporate and Other Consolidated

Net earnings (loss) $ 40,345 $ 30,035 $ 60,451 $ 19,611 $ (65,390) $ 85,052

Interest expense (income), net 2,113 10 (408) — 4,444 6,159

Income tax expense (benefit) 7 — (653) — 28,168 27,522

Depreciation and amortization 16,471 3,978 12,274 9,086 2,799 44,608

EBITDA 58,936 34,023 71,664 28,697 (29,979) 163,341

Acquisition-related costs (1)

— — — 2,189 5,773 7,962

Restructuring costs (2)

4,021 (490) — — 792 4,323

Impairment expense (5)

7,634 — — — — 7,634

Arbitration award expense (6)

— — — — 9,393 9,393

Adjusted EBITDA $ 70,591 $ 33,533 $ 71,664 $ 30,886 $ (14,021) $ 192,653

EBITDA margin 11.2 % 8.1 % 22.2 % 23.5 % N/M 12.0 %

Adjusted EBITDA margin 13.5 % 8.0 % 22.2 % 25.3 % N/M 14.2 %

(1) Acquisition-related costs include one-time expenses incurred to integrate the UW Solutions acquisition. In fiscal year 2025, it excludes $2.3 million of backlog amortization added back as part of depreciation and amortization above.

(2)

Restructuring costs related to Project Fortify. Costs incurred in fiscal year 2025 were associated with Phase 1 and costs incurred in fiscal year 2026 are associated with Phase 2, including $11.5 million of asset impairment charges in fiscal 2026.

(3) Transition costs related to departure of Chief Executive Officer during the third quarter of fiscal 2026.

(4) Gain related to the settlement of a New Market Tax Credit transaction.

(5) Impairment expense on intangible assets in the Architectural Metals Segment.

(6) Expense related to an arbitration award, which represents the impact of the award amount net of existing reserves and estimated insurance proceeds.

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

Apogee Enterprises, Inc.

Page 13

Apogee Enterprises, Inc.

Reconciliation of Non-GAAP Financial Measures

Adjusted net earnings and adjusted diluted earnings per share

(Unaudited)

Three Months Ended Twelve Months Ended

(In thousands) February 28, 2026 March 1, 2025 February 28, 2026 March 1, 2025

Net earnings $ 16,620 $ 2,485 $ 54,131 $ 85,052

Acquisition-related costs (1)

172 4,429 2,144 10,302

Restructuring costs (2)

3,891 1,110 27,443 4,323

CEO transition costs (3)

— — 3,026 —

NMTC settlement gain (4)

— — (6,740) —

Impairment expense (5)

— 7,634 — 7,634

Arbitration award expense (6)

— 9,393 — 9,393

Income tax impact on above adjustments (7)

(979) (5,614) (5,321) (7,832)

Adjusted net earnings $ 19,704 $ 19,437 $ 74,683 $ 108,872

Three Months Ended Twelve Months Ended

February 28, 2026 March 1, 2025 February 28, 2026 March 1, 2025

Diluted earnings per share $ 0.77 $ 0.11 $ 2.52 $ 3.89

Acquisition-related costs (1)

0.01 0.20 0.10 0.47

Restructuring costs (2)

0.18 0.05 1.28 0.20

CEO transition costs (3)

— — 0.14 —

NMTC settlement gain (4)

— — (0.31) —

Impairment expense (5)

— 0.35 — 0.35

Arbitration award expense (6)

— 0.43 — 0.43

Income tax impact on above adjustments (7)

(0.05) (0.26) (0.25) (0.36)

Adjusted diluted earnings per share $ 0.92 $ 0.89 $ 3.47 $ 4.97

Weighted average diluted shares outstanding 21,454 21,793 21,517 21,891

(1) Acquisition-related costs include one-time expenses incurred to integrate the UW Solutions acquisition.

(2)

Restructuring costs related to Project Fortify. Costs incurred in fiscal year 2025 were associated with Phase 1 and costs incurred in fiscal year 2026 are associated with Phase 2, including $11.5 million of asset impairment charges in fiscal 2026.

(3) Transition costs related to departure of Chief Executive Officer during the third quarter of fiscal 2026.

(4) Gain related to the settlement of a New Market Tax Credit transaction.

(5) Impairment expense on intangible assets in the Architectural Metals Segment.

(6) Expense related to an arbitration award, which represents the impact of the award amount net of existing reserves and estimated insurance proceeds.

(7) Income tax impact reflects the estimated blended statutory tax rate for the jurisdictions in which the charge or income occurred.

Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

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