AZZ Q3 Profit Rises, Revises FY15 Targets - Quick Facts

(RTTNews) - Electrical equipment and components maker AZZ, Inc.'s (AZZ) third-quarter net income grew to $20.0 million, or $0.77 per share, from $18.4 million, or $0.72 per share, in the prior-year quarter.

Earnings for the quarter included a pretax benefit of $0.6 million, or $0.02 per share relating to the net effect of insurance proceeds collected to cover costs related to a fire in AZZ's Arizona galvanizing facility, driving adjusted earnings of $0.75 per share in the third quarter of fiscal 2015. In the year-ago period, the firm benefited from one-time items netting to $4.6 million on a pretax basis driving adjusted earnings to $0.59 for the quarter.

Revenues for the third quarter of fiscal year 2015 were $224.8 million, compared with $197.8 million last year, an increase of 13.7 percent. Four analysts polled by Thomson Reuters expected $230.20 million in revenues for the quarter.

Looking ahead, the company said it is narrowing its full-year 2015 earnings per share view to a range of $2.40 to $2.60 from its prior $2.40 to $2.80 range, and lowering its annual revenue guidance to $825 million to $850 million from the previous $850 million to $900 million range.