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Company News

Apogee Performance Surfaces Sales Rise 14.2% as Groglass Joins Portfolio

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Continuum: default market report with painter
October 22, 2026

Apogee Enterprises reported a 14.2% increase in fiscal 2027 second-quarter Performance Surfaces sales to $55.3 million, driven by higher volume and pricing. The quarter ended Aug. 29, 2026.

Segment adjusted EBITDA increased to $12.4 million from $11.2 million, while the margin declined to 22.5% from 23.2%. Higher material costs outweighed the margin benefit of pricing and volume.

Consolidated sales rose 9.2% to $391.1 million. Reported diluted earnings per share declined to $1.07 from $1.10, while adjusted diluted EPS increased to $1.17 from $0.98.

Apogee raised its full-year sales outlook to $1.46 billion-$1.50 billion from $1.38 billion-$1.43 billion. Adjusted EPS guidance increased to $3.00-$3.40 from $2.70-$3.25. Adjusted earnings and EBITDA are non-GAAP measures.

Apogee completed the Groglass acquisition on Sept. 18, after the second quarter ended. The acquired business therefore did not generate the segment's reported second-quarter growth.

The closing announcement valued the transaction at up to approximately $71.8 million at then-current exchange rates, including contingent earnout consideration. Groglass is based in Riga, Latvia, and specializes in anti-reflective and other advanced coatings for display, architectural and technical applications.

Its customers include museums, electronics businesses and architectural designers. Apogee Executive Chair and CEO Don Nolan said its optical-coatings expertise and brands complement the Performance Surfaces portfolio and create opportunities in existing and new markets.

At signing on Sept. 2, Apogee described consideration of up to €62.5 million, including an earnout of up to €10 million over three years. It projected more than $30 million of revenue in the first 12 months of ownership, an adjusted EBITDA margin of approximately 25% and at least $4 million in annual synergies within three years.

Those figures were acquisition expectations, not second-quarter results. The closing expands Apogee's coated-materials capabilities, while the latest earnings report shows growth in the existing Performance Surfaces business before that addition.


The results and acquisition provide a view of demand, input-cost pressure and investment in special-purpose coatings, particularly optical and high-performance coated materials.

KEYWORDS: financial results quarterly reports

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