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Stockreport

Azz profit and revenue rise above expectations, gross margins decline [MarketWatch]

AZZ INC (AZZ)  More Company Research Source: MarketWatch
Last azz inc earnings: 7/3 06:30 am Check Earnings Report
US:NYSE Investor Relations: azz.com/investor-relations
PDF Azz profit and revenue rise above expectations, gross margins decline Azz Inc. AZZ, +0.35% reported fiscal first-quarter earnings and revenue that rose above expectations, amid strength in both its metal coatings and energy businesses. Net income for the quarter to May 31 increased to $15.7 million,or 60 cents a share, from $12.1 million, or 46 cents a share, in the same period a year ago. Revenue rose 27.7% to $262.2 million, with metal coatings revenue growing 25.2% to $115.3 million and energy revenue climbed 29.8% to $147.0 million. The FactSet consensus for earnings per share was 48 cents and for revenue was $228.9 million. Incoming orders were $320.5 million while shipments were $262.2 million for a booking ratio of 1.22, up from 0.94 a year ago. Gross margins declined to 22.4% from 23.1%. "While we are somewhat optimistic at this point, we remain cautious due to the uncertainty related to tariffs and the Chinese trade situation, as well as the tighter market for craft labor, [Read more]

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