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AZZ Q1 Earnings & Revenues Beat Estimates, Backlog Up Y/Y
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AZZ Incorporated (AZZ - Free Report) posted earnings per share of 60 cents in first-quarter fiscal 2019 (ended May 31, 2018), which beat the Zacks Consensus Estimate of 47 cents by 27.66% and improved 17.6% year over year.
Total Revenues
In the quarter under review, the company delivered revenues of $262.2 million, which surpassed the Zacks Consensus Estimate of $219 million by 19.7%.
The top line increased 27.7% from $205 million in the prior-year quarter. Revenues in the Energy and Metal Coatings segments increased 29.8% and 25.2%, respectively, on a year-over-year basis.
Bookings in first-quarter fiscal 2019 were $320.5 million and the book to ship ratio of 1.22.
At the end of the first quarter fiscal 2019, the company’s total backlog was $329.7million, up 7.6% from $306.4 million in the year-ago period. Of the existing backlog, 43% will be delivered outside the United States.
Quarterly Highlights
Total operating income in the quarter improved 18.3% to $23.7 million from the year-ago quarter’s figure.
Selling, general and administrative expenses came in at $35 million, up 28% from $27.4 million in the prior-year quarter.
Interest expenses in first-quarter fiscal 2019 increased to $3.8 million from $3.3 million in the prior-year quarter.
Guidance
The company reaffirmed fiscal 2019 earnings per share guidance in the range of $1.75-$2.25 and sales guidance in the range of $900-$960 million.
Eaton Corporation (ETN - Free Report) is expected to report second-quarter 2018 results on July 8, 2018. The Zacks Consensus Estimate for 2018 earnings has inched up 0.9% to $5.22 in the last 90 days.
A. O. Smith Corporation (AOS - Free Report) is expected to report second-quarter 2018 results on July 25, 2018. The Zacks Consensus Estimate for 2018 earnings has moved up 0.8% to $2.59 in the last 90 days.
Emerson Electric Co. (EMR - Free Report) is expected to report third-quarter fiscal 2018 results on July 8, 2018. The Zacks Consensus Estimate for 2018 earnings rose 2% to $3.18 in the last 90 days.
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AZZ Q1 Earnings & Revenues Beat Estimates, Backlog Up Y/Y
AZZ Incorporated (AZZ - Free Report) posted earnings per share of 60 cents in first-quarter fiscal 2019 (ended May 31, 2018), which beat the Zacks Consensus Estimate of 47 cents by 27.66% and improved 17.6% year over year.
Total Revenues
In the quarter under review, the company delivered revenues of $262.2 million, which surpassed the Zacks Consensus Estimate of $219 million by 19.7%.
The top line increased 27.7% from $205 million in the prior-year quarter. Revenues in the Energy and Metal Coatings segments increased 29.8% and 25.2%, respectively, on a year-over-year basis.
AZZ Inc. Price, Consensus and EPS Surprise
AZZ Inc. Price, Consensus and EPS Surprise | AZZ Inc. Quote
Backlogs & Booking
Bookings in first-quarter fiscal 2019 were $320.5 million and the book to ship ratio of 1.22.
At the end of the first quarter fiscal 2019, the company’s total backlog was $329.7million, up 7.6% from $306.4 million in the year-ago period. Of the existing backlog, 43% will be delivered outside the United States.
Quarterly Highlights
Total operating income in the quarter improved 18.3% to $23.7 million from the year-ago quarter’s figure.
Selling, general and administrative expenses came in at $35 million, up 28% from $27.4 million in the prior-year quarter.
Interest expenses in first-quarter fiscal 2019 increased to $3.8 million from $3.3 million in the prior-year quarter.
Guidance
The company reaffirmed fiscal 2019 earnings per share guidance in the range of $1.75-$2.25 and sales guidance in the range of $900-$960 million.
Zacks Rank
AZZ currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Manufacturing Electronics Releases
Eaton Corporation (ETN - Free Report) is expected to report second-quarter 2018 results on July 8, 2018. The Zacks Consensus Estimate for 2018 earnings has inched up 0.9% to $5.22 in the last 90 days.
A. O. Smith Corporation (AOS - Free Report) is expected to report second-quarter 2018 results on July 25, 2018. The Zacks Consensus Estimate for 2018 earnings has moved up 0.8% to $2.59 in the last 90 days.
Emerson Electric Co. (EMR - Free Report) is expected to report third-quarter fiscal 2018 results on July 8, 2018. The Zacks Consensus Estimate for 2018 earnings rose 2% to $3.18 in the last 90 days.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>