Loading...
•
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.
Revenue by Segment
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...