Financial Analysis

Acquisitions On November 4, 2024, we completed the acquisition of UW Solutions for $240.9 million in cash. UW Solutions is a U.S. based, vertically integrated manufacturer of high-performance coated substrates with a portfolio of well-known brands, including ResinDEK, ChromaLuxe, RDC Coatings, and Unisub, each known as a leader in its specified applications. The UW Solutions business activity is included in our Performance Surfaces Segment. The total purchase consideration was $232.2 million in cash, net of a favorable net working capital adjustment of $0.9 million and cash acquired of $8.7 million. The acquisition was funded with cash on hand and borrowings under our existing credit agreement. During fiscal 2025, we incurred pre-tax acquisition-related expenses of $10.3 million associated with the UW Solutions acquisition. We incurred $1.5 million for inventory step-up expense and $0.2 million of transaction costs, which were included in costs of sales, as well as $4.2 million of transaction costs, $2.1 million of integration costs, and $2.3 million of amortization of acquired backlog, which were included in SG&A within our consolidated results of operations. During fiscal 2026, we incurred total pre-tax acquisition-related expenses of $2.1 million associated with the acquisition, of which $0.4 million and $1.7 million are included in cost of sales and SG&A, respectively, within our Consolidated Results of Operations. We accounted for the acquisition as a purchase of …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingent Liabilities Bond commitments In the ordinary course of business, predominantly in the Architectural Services Segments, we are required to provide surety or performance bonds that commit payments to our customers for any non-performance against our contracts. At February 28, 2026, $1.3 billion of these types of bonds were outstanding, of which $267.5 million is in our backlog. These bonds have expiration dates that align with completion of these contracts. We have never been required to make payments under surety or performance bonds with respect to our existing businesses. Warranty and project-related contingencies We reserve estimated exposures on known claims, as well as on a portion of anticipated claims, for product warranty and rework costs, based on historical product liability claims as a ratio of sales. Claim costs are deducted from the accrual when paid. Factors that could have an impact on the warranty accrual in any given period include changes in manufacturing quality, changes in product mix, and any significant changes in sales volume. (In thousands) 2026 2025 Balance at beginning of period $ 18,461 $ 21,362 Additional provision 3,993 7,336 Claims paid (9,551) (10,237) Balance at end of period $ 12,903 $ 18,461 Additionally, we are subject to project management and installation-related contingencies as a result of our fixed-price material supply and installation service contracts, primarily in our Architectural Services Segment and cert …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Debt We are party to a Credit Agreement (the Credit Agreement) with Bank of America, N.A., as administrative agent, and other lenders. The Credit Agreement provides for an unsecured senior credit facility in an aggregate principal amount of up to $700.0 million, in which commitments were made through a $450.0 million, five-year revolving credit facility and a committed $250.0 million delayed draw term loan facility. Borrowings under the revolving credit facility can be in Canadian dollars (CAD) limited to $25.0 million USD. The term loan facility may be utilized in up to two draw downs, which are available to be made within one year after the closing date. The senior credit facility has a term of five years with a maturity date of July 19, 2029. As a result of the execution of the Credit Agreement, in the second quarter of fiscal 2025, we recognized a loss on extinguishment of debt within interest expense of $0.5 million for the write-off of unamortized financing fees related to the previously existing revolving credit facility. Additionally, we capitalized $3.0 million of lender fees and $0.8 million of third-party fees incurred in connection with the Credit Agreement, which were recorded as other non-current assets and will be amortized over the term of the credit facility as interest expense. The Credit Agreement contains two maintenance financial covenants that require our Consolidated Leverage Ratio (as defined in the Credit Agreement) to be less than 3.50 and our Conso …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table disaggregates total revenue by timing of recognition (see Note 16 for disclosure of revenue by segment): (In thousands) 2026 2025 2024 Recognized at shipment $ 645,232 $ 571,140 $ 596,270 Recognized over time (input method) 495,993 495,562 483,109 Recognized over time (output method) 263,508 294,292 337,563 Total $ 1,404,733 $ 1,360,994 $ 1,416,942

DisaggregationOfRevenueTableTextBlock

13. Share-Based Compensation We have a 2019 Stock Incentive Plan and a 2019 Non-Employee Director Stock Plan (the Plans) that provide for the issuance of 1,150,000 and 300,000 shares, respectively, for various forms of stock-based compensation to employees and non-employee directors. Awards under these Plans may be in the form of incentive stock options (to employees only), non-statutory options, stock-settled stock appreciation rights (SARs), or nonvested share awards and units, all of which are granted at a price or with an exercise price equal to the fair market value of the Companys stock at the date of award. On October 31, 2025, the Company announced the departure of its Chief Executive Officer. In connection with a separation agreement, the Board of Directors approved the accelerated vesting of certain outstanding unvested restricted stock awards and performance share unit awards previously granted. As a result of this modification, the Company recognized incremental stock-based compensation expense of $2.1 million during the third quarter of fiscal 2026, representing the fair value of the awards that would have otherwise vested over the remaining service periods. This amount is included in SG&A expenses on the Consolidated Results of Operations. We recorded share-based compensation expense, in which we account for any forfeitures as they occur, as follows: (In thousands) 2026 2025 2024 Restricted stock awards and restricted stock units $ 8,546 $ 8,040 $ 6,753 Perf …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Goodwill and Other Intangible Assets Goodwill The carrying amount of goodwill attributable to each reportable segment was: (In thousands) Architectural Metals Architectural Services Architectural Glass Performance Surfaces Total Balance at March 2, 2024 $ 90,186 $ 3,038 $ 25,401 $ 10,557 $ 129,182 Foreign currency translation (852) (117) (264) (1,233) Goodwill acquired 107,826 107,826 Balance at March 1, 2025 89,334 2,921 25,137 118,383 235,775 Foreign currency translation 754 103 112 969 Balance at February 28, 2026 $ 90,088 $ 3,024 $ 25,249 $ 118,383 $ 236,744 Intangible assets In fiscal 2025, $79.7 million of intangible assets were acquired as part of the UW Solutions acquisition. The gross carrying amount of our intangible assets and related accumulated amortization was: (In thousands) Gross Carrying Amount Accumulated Amortization Impairment Expense Foreign Currency Translation Net February 28, 2026 Definite-lived intangible assets: Customer relationships $ 131,746 $ (64,698) $ (4,994) $ 2,138 $ 64,192 Other intangibles 65,807 (36,286) (2,589) 940 27,872 Total 197,553 (100,984) (7,583) 3,078 92,064 Indefinite-lived intangible assets: Trademarks 18,996 201 19,197 Total intangible assets $ 216,549 $ (100,984) $ (7,583) $ 3,279 $ 111,261 March 1, 2025 Definite-lived intangible assets: Customer relationships $ 134,402 $ (56,193) $ $ (2,655) $ 75,554 Other intangibles 66,832 (31,768) (1,197) 33,867 Total 201,234 (87,961) (3,852) 109,421 Indefinite-lived intangible assets: Tra …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes Earnings before income taxes consisted of the following: (In thousands) 2026 2025 2024 United States $ 83,038 $ 111,029 $ 133,185 International (5,582) 1,545 (3,932) Earnings before income taxes $ 77,456 $ 112,574 $ 129,253 The components of income tax expense (benefit) for each of the last three fiscal years are as follows: (In thousands) 2026 2025 2024 Current Federal $ 5,966 $ 19,979 $ 32,900 State and local 752 3,546 6,172 International 1,550 (586) 286 Total current 8,268 22,939 39,358 Deferred Federal 13,611 3,190 (8,361) State and local 3,224 691 (1,387) International (1,352) (45) Total deferred 15,483 3,836 (9,748) Total non-current tax expense (426) 747 30 Total income tax expense $ 23,325 $ 27,522 $ 29,640 Income tax payments, net of refunds, were $4.1 million, $29.6 million and $33.0 million in fiscal 2026, 2025 and 2024, respectively. 2026 Federal $ 2,000 State and local New York 352 Texas 349 New York City 279 Other state and local 848 International Brazil 318 Other international Total $ 4,146 In accordance with our prospective adoption of ASU 2023-09, the following presents a reconciliation of the U.S. federal statutory income tax rate to Apogee's worldwide effective income tax rate for fiscal year ended February 28, 2026: 2026 (In thousands) Amount Percent Federal statutory income tax rate $ 16,266 21.0 % State and local income taxes, net of federal tax benefit (1) 3,005 3.9 Foreign tax effects (Canada): Cancellation of debt income 1,135 1.5 Other 2 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases We have operating leases for certain buildings and equipment used in our operations. We determine if an arrangement contains a lease at inception. Under ASU 2016-20, Leases, we have elected the package of practical expedients permitted under the transition guidance in adopting ASC 842, which, among other things, allowed us to carry forward our historical lease classification. Operating lease assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease expense is recognized on a straight-line basis over the lease term. Our leases have remaining lease terms of one to sixteen years, some of which include renewal options that can extend the lease for up to an additional ten years, at our sole discretion. In determining lease asset value, we consider fixed or variable payment terms, prepayments, incentives, and options to extend, terminate or purchase. Renewal, termination or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. We use a discount rate for each lease based upon an estimated incremental borrowing rate over a similar term. We have elected the practical expedient to account for lease and non-lease components (e.g., common-area maintenance costs) as a single lease component. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of le …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Adoption of new accounting standards In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures , intended to enhance the transparency and decision-usefulness of income tax disclosures. Such guidance requires entities to provide additional information within their income tax rate reconciliation, including further disclosure of federal, state, and foreign income taxes and to provide more details about these reconciling items if a quantitative threshold is met. This guidance additionally requires expanded disclosure of income taxes paid, including amounts paid for federal, state, and foreign taxes. The Company adopted this ASU and applied its disclosures prospectively. The adoption of this ASU affected only the Company's income tax disclosure included in Note 14 and did not have a material impact on the Company's results of operations, cash flows, or financial condition. Accounting standards not yet adopted In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses . This guidance requires entities to disclose more detailed information about the types of expenses, including purchases of inventory, employee compensation, depreciation, amortization, and depletion in commonly presented expense captions such as cost of sales and selling, general and administrative expenses. Such guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 20 …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Employee Benefit Plans 401(k) Retirement Plan We sponsor a single 401(k) retirement plan covering substantially all full-time, non-union employees, as well as union employees at two of our manufacturing facilities. Under the plan, employees are allowed to contribute up to 60% of eligible earnings to the plan, up to statutory limits. The Company matches 100% of the first two percent contributed and 50% of the next four percent contributed on eligible compensation that non-union employees contribute. We contribute to the union plans based on the contractual terms. In total, our matching contributions were $8.8 million in fiscal 2026, $9.1 million in fiscal 2025 and $9.6 million in fiscal 2024. Deferred Compensation Plan We maintain a plan that allows participants to defer compensation. The deferred compensation liability was $8.3 million and $5.6 million at February 28, 2026 and March 1, 2025, respectively. We have investments in corporate-owned life insurance policies (COLI) of $10.3 million and money market funds (classified as cash equivalents) of $0.3 million with the intention of utilizing them as long-term funding sources for this plan. The COLI assets are recorded at net cash surrender values and are included in other non-current assets on the Consolidated Balance Sheets. Plans under Collective Bargaining Agreements We contribute to a number of multi-employer union retirement plans, which provide retirement benefits to the majority of our union-represented employees; non …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring During the fourth quarter of fiscal 2024, we announced strategic actions to streamline our business operations, enable a more efficient cost model, and better position the Company for profitable growth (referred to as Project Fortify). Project Fortify primarily impacted the Architectural Metals Segment and included: Eliminating certain lower-margin product and service offerings, enabling consolidation into a single operating entity. Transferring production operations from the Companys facility in Walker, Michigan, to the Companys facilities in Monett, Missouri and Wausau, Wisconsin. Simplifying the segments brand portfolio and commercial model to improve flexibility, better leverage the Companys capabilities, and enhance customer service. Additionally, the Company implemented actions to optimize processes and streamline resources in its Architectural Services Segment and Corporate and Other. The Company completed Project Fortify during the fourth quarter of fiscal 2025 and incurred a total of $16.7 million of restructuring charges, of which $4.3 million was recognized in fiscal 2025 and $12.4 million in fiscal 2024. The fiscal 2025 charges consisted of $2.5 million recorded in cost of sales and $1.8 million recorded within SG&A, while the fiscal 2024 charges consisted of $5.5 million recorded in cost of sales and $6.9 million recorded within SG&A. On April 23, 2025, we announced a second phase of Project Fortify to drive further cost efficiencies, primar …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue, Receivables and Contract Assets and Liabilities Revenue The following table disaggregates total revenue by timing of recognition (see Note 16 for disclosure of revenue by segment): (In thousands) 2026 2025 2024 Recognized at shipment $ 645,232 $ 571,140 $ 596,270 Recognized over time (input method) 495,993 495,562 483,109 Recognized over time (output method) 263,508 294,292 337,563 Total $ 1,404,733 $ 1,360,994 $ 1,416,942 Receivables Receivables reflected in the financial statements represent the net amount expected to be collected. An allowance for credit losses is established based on expected losses. Expected losses are estimated by reviewing individual accounts, considering aging, financial condition of the debtor, recent payment history, current and forecasted economic conditions and other relevant factors. Upon billing, aging of receivables is monitored until collection. An account is considered current when it is within agreed upon payment terms. An account is written off when it is determined that the asset is no longer collectible. (In thousands) February 28, 2026 March 1, 2025 Trade accounts $ 111,679 $ 117,533 Construction contracts 88,445 70,724 Total receivables 200,124 188,257 Less: allowance for credit losses 1,608 2,667 Receivables, net $ 198,516 $ 185,590 The following table summarizes the activity in the allowance for credit losses: (In thousands) 2026 2025 Beginning balance $ 2,667 $ 3,383 Credits against costs and expenses (225) (1,376) Deduction …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Business Segment Data We have four operating segments which are also reportable segments. Each of our four segments have distinct economic characteristics, including products and services provided, production processes and varying ranges in performance and results: The Architectural Metals Segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems used primarily in non-residential construction. The Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall and other facade-related systems primarily in non-residential construction. The Architectural Glass Segment cuts, treats, coats and fabricates high-performance glass used in custom window and wall systems primarily for non-residential buildings. The Performance Surfaces Segment develops and manufactures high-performance coated materials for a variety of applications, including wall decor, museums, graphic design, digital displays, architectural interiors, and industrial flooring. The Companys CEO is the chief operating decision maker (CODM) . The CODM utilizes segment net sales and adjusted EBITDA to assess segment performance and make decisions about the allocation of operating and capital resources by analyzing recent results, trends, and variances of each segment in relation to forecasts and historical performance. Net sales, adjusted cost of s …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Policies and Related Data Basis of consolidation The consolidated financial statements include the balances of Apogee Enterprises, Inc. and its subsidiaries (Apogee, we, us, our or the Company) after elimination of intercompany balances and transactions. We consolidate variable interest entities related to our New Markets Tax Credit transactions as it has been determined that the Company is the primary beneficiary of those entities' operations (refer to Note 10 for more information). Fiscal year Our fiscal year ends on the Saturday closest to the last day of February. Fiscal 2026 and fiscal 2025 each consisted of 52 weeks, while fiscal 2024 consisted of 53 weeks. Accounting estimates The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts on the consolidated financial statements and accompanying notes. Actual results could differ significantly from those estimates. Cash equivalents Highly liquid investments with an original maturity of three months or less are included in cash equivalents and are stated at cost, which approximates fair value. Marketable securities We hold marketable securities consisting of municipal and corporate bonds, which are carried at fair value on the Consolidated Balance Sheets. To the extent the amortized cost basis of the available-for-sale securities exceeds the f …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Shareholders' Equity We paid dividends totaling $22.2 million ($1.05 per share) in fiscal 2026, $21.7 million ($1.01 per share) in fiscal 2025 and $21.1 million ($0.97 per share) in fiscal 2024. Share Repurchases During fiscal 2004, the Board of Directors authorized a share repurchase program, with subsequent increases in authorization. We repurchased 388,582 shares under the program during fiscal 2026, for a total cost of $15.0 million. We repurchased 786,690 shares under the program, for a total cost of $45.4 million, in fiscal 2025, and repurchased 279,916 shares under the program, for a total cost of $11.8 million, in fiscal 2024. We have repurchased a total of 12,451,789 shares, at a total cost of $453.5 million, since the inception of this program. We have remaining authority to repurchase 1,798,211 shares under this program, which has no expiration date. We may elect to repurchase additional shares of common stock under our authorization, subject to limitations contained in our debt agreements and based upon our assessment of a number of factors, including share price, trading volume and general market conditions, working capital requirements, general business conditions, financial conditions, any applicable contractual limitations, and other factors, including alternative investment opportunities. We may finance share repurchases with available cash, additional debt or other sources of financing. In addition to the shares repurchased under this repurchase plan, during …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingent Liabilities Bond commitments In the ordinary course of business, predominantly in our Architectural Services Segment, we are required to provide surety or performance bonds that commit payments to our customers for non-performance against our contracts. At May 30, 2026, $1.1 billion of these types of bonds were outstanding, of which $239.8 million is in our backlog. These bonds have expiration dates that align with the completion of these contracts. We have never been required to make payments under surety or performance bonds with respect to our existing businesses. Warranty and project-related contingencies We reserve estimated exposures on known claims, as well as on a portion of anticipated claims, for product warranty and rework cost, based on historical product liability claims as a ratio of sales. Claim costs are deducted from the accrual when paid. Factors that could have an impact on these accruals in any given period include changes in manufacturing quality, changes in product mix, and any significant changes in sales volume. Three Months Ended (In thousands) May 30, 2026 Beginning balance $ 12,903 Additional provision 1,399 Claims paid (1,391) Ending balance $ 12,911 Additionally, we are subject to project management and installation-related contingencies as a result of our fixed-price material supply and installation service contracts, primarily in our Architectural Services Segment and in certain parts of our Architectural Metals Segmen …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Debt We are party to a Credit Agreement (the Credit Agreement) with Bank of America, N.A., as administrative agent, and other lenders. The Credit Agreement provides for an unsecured senior credit facility in an aggregate principal amount of up to $700.0 million, in which commitments were made through a $450.0 million, five-year floating rate revolving credit facility and a committed $250.0 million delayed draw term loan facility. Borrowings under the revolving credit facility can be in Canadian dollars (CAD) limited to $25.0 million USD. The term loan facility may be utilized in up to two draw downs, which are available to be made within one year after the closing date. The senior credit facility has a term of five years with a maturity date of July 19, 2029. The Credit Agreement contains two maintenance financial covenants that require our Consolidated Leverage Ratio (as defined in the Credit Agreement) to be less than 3.50 and our Consolidated Interest Coverage Ratio (as defined in the Credit Agreement) to exceed 3.00. At May 30, 2026, we were in compliance with all covenants as defined under the terms of the Credit Agreement. Borrowings under the Credit Agreement bear floating interest at either the Base Rate or Term Secured Overnight Financing Rate (SOFR), or, for CAD borrowings, Canadian Overnight Repo Rate Average (CORRA), plus a margin based on the Consolidated Leverage Ratio (as defined in the Credit Agreement). For Base Rate borrowings, the margin ranges from 0.25% t …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table disaggregates total revenue by timing of recognition (see Note 12 for disclosure of revenue by segment): Three Months Ended (In thousands) May 30, 2026 May 31, 2025 Recognized at shipment $ 157,806 $ 158,155 Recognized over time (input method) 124,199 119,224 Recognized over time (output method) 60,679 69,243 Total $ 342,684 $ 346,622

DisaggregationOfRevenueTableTextBlock

Share-Based Compensation As part of our compensation structure, we grant stock-based compensation awards to certain employees and non-employee directors during the fiscal year. We have a 2019 Stock Incentive Plan and a 2019 Non-Employee Director Stock Plan (the Plans) that provide for the issuance of 2,150,000 and 300,000 shares, respectively, for various forms of stock-based compensation to employees and non-employee directors. Awards under these Plans may be in the form of incentive stock options (to employees only), non-statutory options, stock-settled stock appreciation rights (SARs), restricted stock awards, or performance share unit awards, all of which are granted at a price or with an exercise price equal to the fair market value of the Companys stock at the date of award. The table below sets forth the number of stock-based compensation awards granted during the three months ended May 30, 2026, along with the weighted average grant date fair value: Awards Number of Awards Weighted Average Grant Date Fair Value Restricted stock awards and restricted stock units (1) 126,781 $ 35.50 Performance share units (2) 35,051 $ 35.11 (1) Represent service condition awards which generally vest over a two - or three -year period. (2) Represent performance condition awards with the grant equal to the target number of performance shares based on the share price at grant date. These grants allow for the right to receive a variable number of shares, between 0% and 200% of target, depe …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Income Taxes The Company files income tax returns in the U.S. (federal and certain states), Canada, Brazil and other international jurisdictions and is generally subject to limited audit activity. The Internal Revenue Service is in the process of conducting a U.S. federal examination for fiscal year 2023. The effective tax rate for the three months ended May 30, 2026 was 27.6%, compared to 211.9% for the same period last year. In the prior year-quarter, pretax income was low, resulting in a disproportionately high effective tax rate due to the impact of unfavorable discrete tax items.

IncomeTaxDisclosureTextBlock

Accounting standards not yet adopted In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. This guidance requires entities to disclose more detailed information about the types of expenses, including purchases of inventory, employee compensation, depreciation, amortization, and depletion in commonly presented expense captions such as cost of sales and selling, general and administrative (SG&A) expenses. Such guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, although early adoption is permitted. This guidance should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. While the adoption of this ASU will not have an impact on our financial position and/or results of operations, we are currently evaluating the impact this ASU may have on our consolidated financial statement disclosures, including the processes and controls around the collection of this information.

NewAccountingPronouncementsPolicyPolicyTextBlock

Restructuring Project Fortify, announced in the fourth quarter of fiscal 2024, was a restructuring program designed to streamline operations, improve cost efficiency, and enhance the Companys operating model, primarily within the Architectural Metals Segment. The program also included process and resource optimization within the Architectural Services Segment and Corporate and Other and was completed in the fourth quarter of fiscal 2025. A second phase of Project Fortify (Phase 2) was announced on April 23, 2025, focused on driving additional cost efficiencies and further optimizing the Companys operating footprint and resource alignment. The actions associated with Phase 2 were substantially completed in the fourth quarter of fiscal 2026, and therefore no further activity occurred during the first quarter of fiscal 2027. During the first quarter of fiscal 2026, we incurred $15.3 million of pre-tax costs associated with Phase 2, of which $6.9 million was included in cost of sales and $8.4 million was included within SG&A. The SG&A charges include a $5.0 million non-cash intangible asset impairment charge in the Architectural Services Segment and $2.6 million of a non-cash asset write-off and other charges in Corporate and Other. The table below reflects the pretax impact of Project Fortify for the quarter ended May 31, 2025. (In thousands) Architectural Metals Architectural Services Corporate and Other Total May 31, 2025 Termination benefits $ 805 $ 5,947 $ $ 6,752 Ot …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue, Receivables and Contract Assets and Liabilities Revenue The following table disaggregates total revenue by timing of recognition (see Note 12 for disclosure of revenue by segment): Three Months Ended (In thousands) May 30, 2026 May 31, 2025 Recognized at shipment $ 157,806 $ 158,155 Recognized over time (input method) 124,199 119,224 Recognized over time (output method) 60,679 69,243 Total $ 342,684 $ 346,622 Receivables Receivables reflected in the financial statements represent the net amount expected to be collected. An allowance for credit losses is established based on expected losses. Expected losses are estimated by reviewing individual accounts, considering aging, financial condition of the debtor, recent payment history, current and forecasted economic conditions and other relevant factors. Upon billing, aging of receivables is monitored until collection. An account is considered current when it is within agreed upon payment terms. An account is written off when it is determined that the amount is no longer collectible. (In thousands) May 30, 2026 February 28, 2026 Trade accounts $ 110,933 $ 111,679 Construction contracts 82,801 88,445 Total receivables 193,734 200,124 Less: allowance for credit losses 1,530 1,608 Receivables, net $ 192,204 $ 198,516 The following table summarizes the activity in the allowance for credit losses for the three months ended May 30, 2026: (In thousands) May 30, 2026 Beginning balance $ 1,608 Credits against costs and expenses (1 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Business Segment Data We have four operating segments which are also reportable segments. Each of our four segments has distinct economic characteristics, including products and services provided, production processes and varying ranges in performance and results: The Architectural Metals Segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems used primarily in non-residential construction. The Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall and other facade-related systems primarily in non-residential construction. The Architectural Glass Segment cuts, treats, coats and fabricates high-performance glass used in custom window and wall systems primarily for non-residential buildings. The Performance Surfaces Segment develops and manufactures high-performance coated materials for a variety of applications, including wall decor, museums, graphic design, digital displays, architectural interiors, and industrial flooring. The Companys CEO is the chief operating decision maker (CODM) . The CODM utilizes segment net sales and adjusted EBITDA to assess segment performance and make decisions about the allocation of operating and capital resources by analyzing recent results, trends, and variances of each segment in relation to forecasts and historical performance. Net sales, adjusted cost of sa …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Shareholders' Equity We paid dividends totaling $5.6 million ($0.27 per share) in the first three months of fiscal 2027, compared to dividends paid of $5.5 million ($0.26 per share) in the comparable prior year period. During fiscal 2004, the Board of Directors authorized a share repurchase program allowing us to repurchase shares of our outstanding common stock, with subsequent increases in authorization. During the three months ended May 30, 2026, we repurchased 269,500 shares under the program, for a total of $9.7 million. No shares were repurchased during the three months ended May 31, 2025. We have repurchased a total of 12,721,289 shares, at a total cost of $463.1 million, since the inception of this program in fiscal 2004. We have remaining authority to repurchase 1,528,711 shares under this program, which has no expiration date. We may elect to repurchase additional shares of common stock under our authorization, subject to limitations contained in our debt agreements and based upon our assessment of a number of factors, including share price, trading volume and general market conditions, working capital requirements, general business conditions, financial conditions, any applicable contractual limitations, and other factors, including alternative investment opportunities. We may finance share repurchases with available cash, additional debt or other sources of financing. Additionally, shares withheld from the vesting of restricted awards, or the settlement of perform …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing