Fort Worth, TX based AZZ incorporated (AZZ) issued its revenue and earnings guidance for fiscal 2016 (Mar 1, 2015 to Feb 29, 2016).
This company, in the diversified machinery space, projects fiscal 2016 earnings in the band of $2.75 and $3.25 per diluted share. Revenues for the fiscal are expected in the range of $875–$925 million.
The guidance takes into account factors like present market conditions, quarterly seasonality and the company’s organic growth expansion plans.
Recently, AZZ incorporated posted third-quarter fiscal 2015 earnings per share of 75 cents, a penny above the Zacks Consensus Estimate. Quarterly earnings escalated 27.1% from 59 cents per share reported in the year-ago period (read: AZZ Incorporated Beats on Q3 Earnings, Lowers Guidance).
The guidance for fiscal 2016 earnings is higher than the fiscal 2015 projection of $2.40–$2.60 per share. On its fiscal third quarter earnings call, the company revised its fiscal 2015 earnings guidance downward from the prior range of $2.40 to $2.80 due to a delay in shipment of nuclear-related projects. The company now expects these shipments in the latter part of the next fiscal.
The company has undertaken quite a few initiatives to enhance operational measures and expand its footprint in the global markets over the last few years. AZZ incorporated is positive on its galvanizing business segment with new products service growth on track. Management plans to boost this segment through both organic expansion and acquisitions.
AZZ incorporated currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader industrial goods sector include Pioneer Power Solutions, Inc. (PPSI), Regal Beloit Corporation (RBC) and Federal Signal Corp. (FSS). All these stocks currently carry a Zacks Rank #2 (Buy).
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