AZZ, Inc. (AZZ) Misses Q2 EPS by 4c, Raises FY Guidance

AZZ, Inc. (NYSE: AZZ) reported Q2 EPS of $0.43, $0.04 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $222.8 million versus the consensus estimate of $227.99 million.

GUIDANCE:

AZZ, Inc. sees FY2019 EPS of $1.90-$2.25, versus the consensus of $2.20. AZZ, Inc. sees FY2019 revenue of $930-970 million, versus the consensus of $956.13 million.

"Our Energy segment's Welding Solutions group executed on several domestic and overseas projects and are well positioned for a strong third quarter, which is normally a strong turnaround and outage season. We are pleased with the contributions from both our recent acquisitions of Powergrid switchgear and Lectrus electrical enclosure businesses. We are committed and focused on delivering organic growth and driving operational efficiencies including additional metal coatings offerings to improve future sales and maintaining an active M&A program to support our strategic growth initiatives. Looking forward, we are updating our fiscal 2019 guidance with earnings per share now in the range of $1.90 to $2.25 per diluted share and annual sales in the range of $930 million to $970 million from previously issued EPS guidance of $1.75 to $2.25 per share and revenue of $900 million to $960 million. We remain somewhat cautious due to the uncertainty related to tariffs and the Chinese trade situation, as well as the tighter market for labor, but are optimistic about the full year."

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