Metal coating and infrastructure solutions provider AZZ (NYSE:AZZ) will be announcing earnings results tomorrow after market hours. Here’s what to expect.
AZZ beat analysts’ revenue expectations last quarter, reporting revenues of $448.5 million, up 6.3% year on year. It was an exceptional quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and full-year EBITDA guidance beating analysts’ expectations.
Is AZZ a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AZZ’s revenue to grow 11.1% year on year, improving from the 2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AZZ has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at AZZ’s peers in the building products segment, only Apogee has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 9.2%. The stock traded up 15.3% on the results.
Read our full analysis of Apogee’s earnings results here.Investors in the building products segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. AZZ is up 3.1% during the same time and is heading into earnings with an average analyst price target of $164 (compared to the current share price of $136.81).
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