AZZ Inc. announced that its second-quarter earnings have risen compared to the same period last year, surpassing Wall Street estimations. The company reported earnings of $35.4 million, translating to $1.18 per share, compared to $24.7 million, or $0.97 per share, in the previous year's second quarter.
When excluding one-time items, AZZ Inc. achieved adjusted earnings of $41.3 million, or $1.37 per share. This figure outpaced analysts' expectations, who had projected the company to earn $1.32 per share according to data from Thomson Reuters. It's important to note that these analyst projections typically exclude special items.
Furthermore, the company's revenue for the quarter rose by 2.6% to $409.007 million, up from $398.542 million in the prior year.
A quick overview of AZZ's financials for the second quarter (GAAP):
- Earnings: $35.4 million, compared to $24.7 million last year.
- Earnings per Share (EPS): $1.18, an increase from $0.97 last year.
- Revenue: $409.007 million, compared to $398.542 million last year.
**Guidance for the Full Year:**
- Full year EPS is projected to range between $4.70 and $5.10.
- Revenue for the full year is expected to be between $1.525 billion and $1.625 billion.
