Apogee Enterprises reaffirmed late Monday its FY18 outlook for earnings and revenues, with EPS seen in line with the consensus of analysts polled by Capital IQ. The company also said it completed the acquisition of privately-held EFCO Corp. from Pella Corp. for about $195 million. EFCO is a maker of aluminum windows, curtainwalls, storefront and entrance systems for commercial construction projects.
Excluding the impact of the EFCO acquisition, Apogee said it continues to expect FY18 EPS of $3.35 to $3.55 per share, straddling the $3.40 per share consensus, on revenue growth of about 10% year-over-year. Excluding transaction-related costs, the company expects EFCO to add $200 million to $220 million to its revenues and be accretive to its EBITDA and EPS in FY18. For Q1, Apogee expects EPS to decrease 10% with revenue growth of 10%. The outlook does not include any revenues or earnings from EFCO.