AZZ Q1 Net Profit Edges Down - Quick Facts

(RTTNews) - AZZ Inc. (AZZ), a provider of electrical products and services, Friday posted first-quarter net earnings of $14.9 million or $0.58 per share compared with $14.5 million or $0.57 per share in the prior-year period. Earnings for the quarter included a pretax gain of $2.4 million from an insurance settlement relating to losses incurred at the firm's Joliet galvanizing facility. Adjusted earnings without this gain would have been $0.52 per share.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.54 for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues rose 18 percent to $216.1 million from $183.2 million last year. Analysts expected revenue of $191.37 million for the quarter. The board declared a dividend of $0.14 per share, to be paid at the close of business on July 25 to shareholders of record on July 11.