$APOG

APOGEE ENTERPRISES, INC.

CIK:0000006845|SEC Filings

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 30, 2026	May 31, 2025
Operating Activities
Net earnings (loss)	$ 11,535	$ (2,688)
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	12,579	12,436
Share-based compensation	2,309	2,300
Deferred income taxes	1,333	2,496
Impairment of long-lived assets	0	7,418
Non-cash lease expense	2,981	3,738
Other, net	(40)	1,622
Changes in operating assets and liabilities:
Receivables	6,339	(3,938)
Inventories	(3,699)	(11,255)
Contract assets	113	2,596
Accounts payable	(15,638)	1,103
Accrued compensation and benefits	(9,225)	(16,639)
Contract liabilities	7,312	8,104
Operating lease liability	(3,430)	(3,643)
Accrued income taxes	1,189	1,698
Other current assets and liabilities	(6,228)	(25,130)
Net cash provided by (used in) operating activities	7,430	(19,782)
Investing Activities
Capital expenditures	(6,289)	(7,167)
Purchases of marketable securities	(4,637)	0
Other, net	1,157	185
Net cash used in investing activities	(9,769)	(6,982)
Financing Activities
Proceeds from revolving credit facilities	33,000	59,000
Repayment on revolving credit facilities	(25,000)	(33,000)
Repayment of term loans	(2,867)	0
Repurchase of common stock	(9,654)	0
Dividends paid	(5,630)	(5,520)
Other, net	(995)	(2,835)
Net cash (used in) provided by financing activities	(11,146)	17,645
Effect of exchange rates on cash	396	502
Decrease in cash and cash equivalents	(13,089)	(8,617)
Cash and cash equivalents at beginning of period	39,523	41,448
Cash and cash equivalents at end of period	26,434	32,831
Non-cash Activity
Capital expenditures in accounts payable	$ 482	$ 922

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 30, 2026	Feb. 28, 2026
Current assets
Cash and cash equivalents	$ 26,434	$ 39,523
Receivables, net	192,204	198,516
Inventories, net	101,803	98,059
Contract assets	59,344	59,512
Other current assets	50,619	43,823
Total current assets	430,404	439,433
Property, plant and equipment, net	247,763	255,032
Operating lease right-of-use assets	45,633	48,736
Goodwill	236,647	236,744
Intangible assets, net	108,592	111,261
Other non-current assets	32,420	31,139
Total assets	1,101,459	1,122,345
Current liabilities
Accounts payable	86,166	105,478
Accrued compensation and benefits	30,435	39,667
Contract liabilities	68,265	60,903
Operating lease liabilities	14,737	14,729
Other current liabilities	45,002	46,079
Total current liabilities	244,605	266,856
Long-term debt	237,411	232,279
Non-current operating lease liabilities	35,780	39,375
Non-current self-insurance reserves	26,439	24,914
Other non-current liabilities	45,205	47,127
Commitments and contingent liabilities (Note 6)
Shareholders’ equity
Common stock of $0.33-1/3 par value; authorized 50,000,000 shares; issued and outstanding 21,062,901 and 21,220,350, respectively	7,021	7,073
Additional paid-in capital	159,043	159,085
Retained earnings	374,103	376,438
Accumulated other comprehensive loss	(28,148)	(30,802)
Total shareholders’ equity	512,019	511,794
Total liabilities and shareholders’ equity	$ 1,101,459	$ 1,122,345