AZZ, Inc. (AZZ) Tops Q2 EPS by 6c, Revenue Misses

AZZ, Inc. (NYSE: AZZ) reported Q2 EPS of $0.49, $0.06 better than the analyst estimate of $0.43. Revenue for the quarter came in at $203.4 million versus the consensus estimate of $219.02 million.

Fiscal Year 2021 Guidance

Mr. Ferguson added, "Given the continued disruption from COVID-19 we will continue to suspend our guidance for fiscal 2021 at this time. Based upon the evaluation of information currently available to management, we believe the third quarter will show sequential improvement in both sales and earnings per share versus the second quarter, and anticipate results will fall short of a very strong third quarter of last year. We continue to experience COVID-related travel restrictions within certain geographical areas served by our Infrastructure Solutions teams, particularly in some key international markets where we have projects scheduled for completion during the quarter.

The strong cash flow generated by our operations will continue to help the Company manage both debt and liquidity effectively throughout the remainder of fiscal 2021 and well beyond. We continue to be prudent with our cash by focusing capital expenditures on core growth initiatives and safety-related spending, reducing debt, and repurchasing shares to minimize dilution. We will continue to carefully manage our workforce to ensure a safe and healthy operating environment, while flexing our capacity to better match our customer demands.

We are focused on executing the following opportunities: fully integrating the Galvanizing and Powder Coating and Plating platforms to drive market share growth and operating efficiencies; building backlog in our Infrastructure Solutions segment; ensuring our ability to deploy resources effectively during, what appears to be, a modest fall turnaround season; completing M&A activities in support of our strategic initiatives and continuing to manage our liquidity to ensure we enter fiscal 2022 in a solid position."

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

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