$AZZ (AZZ incorporated)

$AZZ {{ '2016-07-05T11:34:39+0000' | timeago}} • Announcement

Electrical equipment maker $AZZ reported rise in 1Q17 earnings driven by its operating performance of its two business segments as well as revenue growth and 10% rise in operating income in galvanizing business. Net income rose to $21.06MM or $0.81 per share from $19.92MM or $0.77 per share last year. Net sales grew 13.8% to $242.67MM.

$AZZ {{ '2017-07-06T15:58:42+0000' | timeago}} • Webcast

$AZZ expects the Enhanced Powder Coating acquisition to add around $0.03-0.04 to its current outlook. The company is also pursuing a couple of other bolt-on type galvanizing, powder coating acquisitions that it hopes to close during 2Q18.

$AZZ {{ '2017-07-06T15:49:57+0000' | timeago}} • Webcast

$AZZ said in terms of infrastructure in its galvanizing business, the company is seeing improvements in highways, transmission and distribution. Non-residential construction spending is trending upwards. $AZZ is seeing good pickup in non-residential construction in some parts of the US which gives it confidence in its outlook.

$AZZ {{ '2017-07-06T15:31:42+0000' | timeago}} • Webcast

In 1Q18, $AZZ posted revenues of $116.5MM in its Energy segment, down 15.7% compared to 1Q17. In the Metal Coatings segment, revenues fell 11.9% to $92.1MM compared to 1Q17.

$AZZ {{ '2017-07-06T15:28:12+0000' | timeago}} • Webcast

$AZZ's backlog for 1Q18 was $331.6MM, down 6.4% compared to 1Q17. The company expects approx. 41% of the backlog to be delivered outside the US versus 25% in 1Q17. Gross margins for 1Q18 were 23.6% compared to 26.1% in 1Q17.

$AZZ {{ '2017-07-06T13:11:33+0000' | timeago}} • Infographic

$AZZ AZZ Incorporated Earnings AlphaGraphic: Q1 2018 Highlights

$AZZ {{ '2017-07-06T10:53:35+0000' | timeago}} • Announcement

As $AZZ posted 1Q18 results, CEO Tom Ferguson said, "Despite the current market conditions, we are cautiously optimistic that fiscal year 2018 will benefit from improved infrastructure project spending during the second half of the year." $AZZ reaffirmed its  FY18 guidance of $2.60-3.10 for EPS and $880-950MM in annual sales.

$AZZ {{ '2017-07-06T10:51:00+0000' | timeago}} • Announcement

With revenue slipping 14.1% to $208.6MM in 1Q18, $AZZ posted a 37.1% slide in net income of $13.2MM or $0.51 per diluted share. Incoming orders in the quarter were $193.8MM while shipments totaled $208.6MM, resulting in a book-to-ship ratio of 0.93 for the metal coating services provider.

$AZZ {{ '2017-01-06T17:49:39+0000' | timeago}} • Webcast

With regards to NLI divestiture transaction, $AZZ said that the company and Westinghouse Electric Co. like to get this deal done. In few weeks, $AZZ will announce the result of this divestiture. The complexity is created by the tough market situation, the company said.

$AZZ {{ '2017-01-06T17:04:36+0000' | timeago}} • Webcast

$AZZ said that galvanizing was hurt by lower activity in the oil producing states of Oklahoma, Texas and Louisiana, continued weakness in solar and still muted bridge in highway and industrial spending in many areas. WSI business was hurt by lower than expected major refinery turnarounds with projects being deferred to the spring season.

$AZZ {{ '2017-01-06T16:45:19+0000' | timeago}} • Webcast

$AZZ stated that 3Q17 results were disappointing, as it faced continued contraction in the markets due to the economic fallout of low oil patch activity, lower solar opportunities and low level of major refinery turnarounds.  The divestiture of NLI business unit to Westinghouse Electric Co., which was announced in Oct. 2016, has not yet closed.

$AZZ {{ '2017-01-06T12:25:45+0000' | timeago}} • Announcement

$AZZ expects that the North American galvanizing market will continue to be challenging for the near term. However, its expectation is that market conditions for the galvanizing business will begin to improve in 2H18 as infrastructure spend improves. The company continues to see favorable opportunities for the Energy segment.

$AZZ {{ '2017-01-06T12:21:51+0000' | timeago}} • Announcement

$AZZ's revenues for the Galvanizing segment for 3Q17 dropped 13.7% from last year. Operating income dropped to $21.3MM from $24.3MM last year. As a result, operating margins improved to 23.2% from 22.8% a year ago.

$AZZ {{ '2017-01-06T12:20:15+0000' | timeago}} • Announcement

$AZZ's revenues for Energy segment for 3Q17 declined 0.3% from last year and operating income fell 18.1%. Operating margin tumbled to 11.4% from 13.9% last year, as result of lower gross margins from an unfavorable mix shift from higher margin to lower margin business, partially offset by favorable selling, general and administrative expenses.

$AZZ {{ '2017-01-06T12:18:00+0000' | timeago}} • Announcement

$AZZ's incoming orders for 3Q17 were $221.9MM while shipments totaled $227.5MM, resulting in a book to ship ratio of 0.98. In 3Q16, incoming orders were $228.7MM, resulting in a book to ship ratio of 0.94. $AZZ's backlog at end of 3Q17 increased to $347.3MM from $324.4MM last year. About 19% of backlog is expected to be delivered outside the U.S.

$AZZ {{ '2017-01-06T12:15:09+0000' | timeago}} • Announcement

Electrical equipment maker $AZZ reported a 22.5% drop in 3Q17 earnings due to lower volumes from effects of depressed markets in oil and gas, petrochemical, and solar for Galvanizing segment. Net income fell to $18.25MM or $0.70 per share from $23.55MM or $0.91 per share last year. Net sales dropped 6.2% to $227.46MM.

$AZZ {{ '2016-10-05T17:45:14+0000' | timeago}} • Webcast

Jon Braatz of Kansas City Capital asks about the performance of Power Electronics, Inc. in 2Q17. CEO Tom Ferguson replied that Power Electronics had a solid quarter and it is exceeding $AZZ's expectations. It is integrating nicely into the enclosure structure that the company has, added Tom.

$AZZ {{ '2016-10-05T17:33:54+0000' | timeago}} • Webcast

John Franzreb of Sidoti asks about the allocation of the restructuring charges between the two segments, the $6.2MM in annual savings. $AZZ CEO Tom Ferguson replied that the majority of the benefits would be on the Galvanizing side. He added that it will be probably 75-25, Galvanizing versus Energy.

$AZZ {{ '2016-10-05T17:24:09+0000' | timeago}} • Webcast

$AZZ has recently announced a 13.3% increase in its quarterly dividend from $0.15 per quarter to $0.17 per quarter. The company will to look at modest share repurchases to counteract the dilutive effects of share compensation and employee share purchase programs in the near future.

$AZZ {{ '2016-10-05T13:49:03+0000' | timeago}} • Announcement

$AZZ said it expects FY17 performance to fall slightly below its previously issued FY17 EPS guidance range of $3.15-3.45 and revenue outlook range of $930-970MM. This takes into consideration of the company's current markets as well as total effects of realignment program, and excluding effects of potential sale of Nuclear Logistics business.

$AZZ {{ '2016-10-05T13:42:39+0000' | timeago}} • Announcement

$AZZ's revenues for the Galvanizing Segment for 2Q17 fell 5.8% from last year. Operating income dropped to $15MM from $25.3MM last year and was negatively affected by realignment charges of $7.3MM taken during the quarter. As a result, operating margins tumbled to 15.4% from 24.5% a year ago.

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