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Feb 29, 2020
Azz Q4 2020 Earnings Report
AZZ Inc. reported a revenue increase of 21.1% and a decrease in operating income due to one-time charges.
Key Takeaways
AZZ Inc. reported a 21.1% increase in revenue for the fourth quarter of fiscal year 2020. However, the company experienced a decrease in operating income and net income due to pre-tax adjusted items, including a loss on the disposal of the NLI business and impairment charges. Adjusted non-GAAP net income was $12.4 million, or $0.47 per share.
Revenues for the fourth quarter were $245.4 million, an increase of 21.1%.
Reported operating income for the fourth quarter decreased 154.3% to $(7.3) million.
Reported net loss for the fourth quarter was $(10.6) million, or $(.41) per diluted share.
Adjusted non-GAAP net income was $12.4 million or $0.47 per share.
Revenue by Segment
Forward Guidance
Due to uncertainty associated with the recent COVID-19 pandemic on many of our end markets, we are discontinuing our previously issued fiscal 2021 sales and earnings per fully diluted share guidance range.
Positive Outlook
- Continue to operate as an ‘essential business’ in supporting critical infrastructure needs
- Low debt level
- Ample borrowing capacity
- Consistent ability to generate cash
- Have not experienced any unusual slowdown in customer payments
Challenges Ahead
- Uncertainty associated with the recent COVID-19 pandemic on many of our end markets
- Discontinuing previously issued fiscal 2021 sales and earnings per fully diluted share guidance range
- Modestly reduce capital expenditures
- Suspending share repurchases
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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