By Dean Seal
AZZ logged higher earnings in its fiscal third quarter as volume growth boosted sales and certain costs came down.
The provider of hot-dip galvanizing and coil-coating solutions posted a profit of $33.6 million, or $1.12 a share, for the three-months ended Nov. 30, compared with $23.3 million, or 92 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were $1.39 a share. Analysts polled by FactSet had been expecting $1.26 a share.
Sales rose 5.8% to $403.7 million, ahead of analyst forecasts for $394.3 million, according to FactSet.
The company said sales of metal coatings were up 3.3% while precoat metals sales jumped 7.6%.
The metal coatings business benefited from lower zinc costs and better zinc utilization, Chief Executive Tom Ferguson said. Margins in the precoat metals unit also improved from higher sales, a more favorable mix of products sold and improved operations, he said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 07, 2025 16:25 ET (21:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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