AZZ Reiterates FY24 Outlook As Q4 Results Top Estimates
(RTTNews) - While reporting financial results for the fourth quarter on Monday, AZZ, Inc. (AZZ), a provider of metal coating solutions and welding solutions, reiterated its adjusted earnings and sales guidance for the full-year 2024.
For fiscal 2024, the company still projects adjusted earnings in the range of $4.50 to $5.00 per share on sales between $1.525 billion and $1.625 billion.
On average, three analysts polled by Thomson Reuters expect the company to report earnings of $4.77 per share on revenues of $1.57 billion for the year. Analysts' estimates typically exclude special items.
For the fourth quarter, the company reported net income available to common shareholders of $14.26 million or $0.56 per share, compared to a net loss of $2.54 million or $0.10 per share in the year-ago quarter.
Excluding items, adjusted net income for the quarter was $27.47 million or $0.93 per share, compared to $7.63 million or $0.30 per share in the year-ago quarter.
Total sales for the quarter grew 8.9 percent to $366.49 million from $336.50 million in the same quarter last year.
The Street was looking for earnings of $0.70 per share on revenues of $351.67 million for the quarter.
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