AZZ Lifts Annual Guidance

(RTTNews) - AZZ Inc. (AZZ), a provider of hot-dip galvanizing and coil coating solutions, announced on Monday that it has revised up its annual guidance.

For the 12-month period, the company now expects adjusted income per share of $4.50 to $5 against its previous expectation of $4.25 to $4.75.

On average, five analysts, polled by Thomson Reuters expect the company to earn $4.69 per share, for the year. Analysts' estimates typically exclude special items.

Annual sales are now projected to be in the range of $1.525 billion to $1.625 billion, higher than the previous guidance of $1.5 billion to $1.6 billion.

Analysts, on average, expect AZZ to post revenue of $1.57 billion, for the year.

The company's capital expenditures, however, are expected to remain unchanged at around $100 to $120 million, which includes $50 to $60 million to complete the greenfield plant construction in Washington, Missouri.