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Nov 30, 2021
Azz Q3 2022 Earnings Report
Reported strong year-over-year financial results with EPS of $0.85.
Key Takeaways
AZZ Inc. reported a 2.3% increase in sales, reaching $231.7 million, and a 7.0% increase in net income, amounting to $21.1 million, compared to the same quarter last year. Diluted earnings per share increased to $0.85, up from $0.76 in the prior year. Bookings also increased to $248.0 million, resulting in a book-to-sales ratio of 1.07.
Diluted earnings per share increased by 11.8% to $0.85.
Sales increased by 2.3% year-over-year to $231.7 million.
Net income increased by $1.4 million to $21.1 million.
Bookings for the quarter increased to $248.0 million, with a book-to-sales ratio of 1.07.
Azz
Azz
Azz Revenue by Segment
Revenue by Segment
Metal Coatings Revenue
CapyFin.com Forward Guidance
The company reaffirms its sales guidance and narrows its earnings per share guidance for fiscal year 2022.
Positive Outlook
- Anticipate annual sales to be in the range of $865 million to $925 million.
- Earnings per share to be in the range of $3.00 to $3.20 per diluted share for fiscal year 2022.
- Highly focused on growing the Metal Coatings segment.
- Completing and integrating recently announced hot-dip galvanizing acquisitions.
- Focusing the Infrastructure Solutions team on supply chain improvements and increasing its craft pool.
Challenges Ahead
- Fiscal year 2022 guidance excludes the impact of any future divestitures or acquisitions.
- Facing higher labor and material costs.
- Several business units were affected by material delivery delays, including customer supplied components.
- Several business units were affected by labor shortages.
- Potential adverse impacts from the ongoing COVID-19 pandemic.