Fort Worth, TX based AZZ incorporated AZZ announced expected revenue and earnings results for fiscal 2015 compared with its guidance issued earlier. The company’s fiscal year ends on Feb 28.
This electrical equipment manufacturer expects fiscal 2015 earnings to be a tad above the midpoint of the previously issued range of $2.40–$2.60 per share. However, revenues are expected to fall short of its previous expectation of $825–$850 million due to unfavorable weather conditions, ongoing uncertainty in oil and gas markets and project deferrals in refineries perturbed by ongoing strikes.
AZZ incorporated reiterated its fiscal 2016 earnings guidance of $2.75 to $3.25 per diluted share. Revenues are still expected in a band of $875 million to $925 million for fiscal 2016. These estimates might however vary due to changes in market conditions, seasonality, organic growth plans and the like.
The company also declared that it has received an authorization by its board to pay a quarterly cash dividend of 15 cents per share on the company's outstanding shares of common stock. The dividends are payable on May 1, 2015, to shareholders of record as of Apr 17, 2015.
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 revenues 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 aided results.
The company is set to release its fourth quarter and fiscal 2015 earnings on Apr 22, 2015.
Zacks Rank
AZZ incorporated currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the broader industrial goods sector are ESCO Technologies Inc. ESE, AO Smith Corp. AOS and Compass Diversified Holdings CODI. While ESCO Technologies sports a Zacks Rank #1 (Strong Buy), AO Smith and Compass Diversified Holdings currently carry a Zacks Rank #2 (Buy).
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