Apogee Cuts Guidance on Slowing Sales, Rising Competition
Companies that have ties to the construction industry have faced many challenges in recent years, and architectural glass and framing specialist Apogee Enterprises (NASDAQ: APOG) has seen considerable ups and downs in the pace of its growth over that time frame. Despite hopes that infrastructure spending might lead to a rise in business in 2018 for Apogee, many investors remain nervous about the company's ability to keep up what has in the past been an impressive trend of rising revenue.
Coming into Tuesday's fiscal third-quarter financial report, Apogee investors still wanted to see considerable gains in sales and profits, and they wanted reassurances that the future was bright. Instead, Apogee threw cold water on those hopes by cutting its guidance for the full fiscal year. Let's look more closely at Apogee Enterprises and what its latest results mean for the glass and framing company's future.
Image source: Apogee Enterprises.
Source: Fool.com
