Electrical equipment manufacturer AZZ Incorporated (AZZ) posted earnings per share of 75 cents in the third quarter of fiscal 2015, a penny above the Zacks Consensus Estimate.
Quarterly earnings were up 27.1% from 59 cents per share reported in the year-ago period.
Total Revenue
Total revenue increased 13.7% year over year to $224.8 million from $197.8 million. Higher contributions from Electrical and Industrial Products and Galvanizing Service segments benefited results.
Revenues however missed the Zacks Consensus Estimate of $229 million by 1.8%.
Fiscal Third Quarter Highlights
The rise in total revenues accompanied by lower operating costs helped expand the operating margin of the company to 14.6% from 12.8% in year-ago quarter.
The company’s backlog at the end of the quarter was $300.3 million, up from $290.1 million a year ago.
Order booking of $196.1 million was marginally higher than $193.7 million booked in the comparable prior-year period.
Interest expenses declined to $4.1 million from $4.6 million, indicating a reduction in outstanding debt.
Guidance for Fiscal 2015
The company revised its earnings per share expectation for fiscal 2015. It now expects earnings in the range of $2.40 to $2.60 per share, down from the prior range of $2.40 to $2.80.
The company also adjusted its total revenue guidance for the fiscal. It now expects revenues in the range of $825 million to $850 million, down from the prior range of $850 million to $900 million.
AZZ Incorporated lowered its expectation for fiscal 2015 due to a delay in shipment of nuclear-related projects. The company now expects these shipments in the latter part of the next fiscal.
Peer Releases
AO Smith Corp. (AOS) is slated to release its fourth-quarter 2014 earnings on Jan 27. The Zacks Consensus Estimate is 61 cents.
Regal Beloit Corporation (RBC) is slated to release its fourth-quarter 2014 earnings on Feb 9. The Zacks Consensus Estimate is 94 cents.
Pioneer Power Solutions, Inc. (PPSI) is slated to release its fourth-quarter 2014 earnings on Mar 6. The Zacks Consensus Estimate is 14 cents.
Zacks Rank
AZZ Incorporated currently has a Zacks Rank #4 (Sell).
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