Construction Market Cyclicality: Apogee's business is highly dependent on the commercial construction market, making it vulnerable to economic downturns, reduced capital expenditure, or higher interest rates which can significantly decrease demand for their architectural products.

Raw Material Price Volatility: Fluctuations in the cost of key raw materials like glass and aluminum, driven by global commodity markets, tariffs, or supply constraints, can negatively impact Apogee's profitability if they cannot effectively pass these increased costs onto customers.

Labor Availability and Wage Inflation: Shortages of skilled labor, particularly in installation and manufacturing roles, combined with upward pressure on wages, could lead to increased operating costs, project delays, and difficulty in fulfilling existing orders.