AZZ Boosts FY22 EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Tuesday, AZZ, Inc. (AZZ), a provider of metal coating solutions and welding solutions, raised its earnings guidance for the full-year 2022, due to the continued operating performance in its segments.

For fiscal 2022, the company now projects earnings in a range of $2.90 to $3.20 per share on sales between $865 million and $925 million.

Previously, the company expected earnings in the range of $2.65 to $3.05 per share on sales between $855 million and $935 million.

On average, three analysts polled by Thomson Reuters expect the company to report earnings of $3.03 per share on revenues of $924.2 million for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income of $18.98 million or $0.76 per share, compared to a net loss of $1.79 million or $0.07 per share in the year-ago quarter.

Total sales for the quarter grew 6.4 percent to $216.45 million from $203.37 million in the same quarter last year.

The Street was looking for earnings of $0.62 per share on revenues of $219.95 million for the quarter.