UPDATE: AZZ, Inc. (AZZ) Misses Q2 EPS Views; Affirms FY15 Outlook

(Updated - October 1, 2014 8:01 AM EDT)

AZZ, Inc. (NYSE: AZZ) reported Q2 EPS of $0.53, $0.10 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $193.42 million versus the consensus estimate of $208.2 million.

Earnings during the quarter included a pretax charge of $4.0 million, or $0.11 per diluted share relating to realignment charges taken to cover costs in management headcount reduction and the recognition of the write off of certain fixed assets. These costs were distributed across AZZ's Energy and Galvanizing Services segments, and at the corporate level.

AZZ's backlog at the end of the second quarter of fiscal 2015 was $329.1 million, compared to $294.0 million at the end of the second quarter of fiscal 2014. Incoming orders for the second quarter of fiscal 2015 were $213.4 million while revenue for the quarter totaled $193.4 million, resulting in a book to ship ratio of 1.10 percent.

From the company's 10-Q:

		Three Months ended August 31,								Six Months Ended August 31,
		2014				2013				2014				2013
		(Unaudited) (In thousands except share and per share data)
Numerator:
Net income for basic and diluted earnings per common share		$	13,769			$	16,363			$	28,694			$	30,910
Denominator:
Denominator for basic earnings per common share–weighted average shares		25,656,945				25,487,796				25,639,952				25,475,869
Effect of dilutive securities:
Employee and Director stock awards		101,229				176,312				108,995				188,851
Denominator for diluted earnings per common share		25,758,174				25,664,108				25,748,947				25,664,720
Earnings per share basic and diluted:
Basic earnings per common share		$	0.54			$	0.64			$	1.12			$	1.21
Diluted earnings per common share		$	0.53			$	0.64			$	1.11			$	1.20

AZZ continues to see FY15 revs of $850 to $900 million and EPS of $2.40 - $2.80. The Street is at revenue of $860.9 million and EPS of $2.62.

For earnings history and earnings-related data on AZZ, Inc. (AZZ) click here.

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