Metal coating and infrastructure solutions provider AZZ (NYSE:AZZ) will be reporting results tomorrow after market hours. Here’s what to expect.
AZZ missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $409 million, up 2.6% year on year. It was a slower quarter for the company, with full-year EBITDA and revenue guidance missing analysts’ expectations.
Is AZZ a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AZZ’s revenue to grow 3.9% year on year to $396.6 million, improving from the 2.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.27 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AZZ has missed Wall Street’s revenue estimates three times over the last two years.
With AZZ being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for building products stocks. However, the whole sector has faced a sell-off over the last month with stocks in AZZ’s peer group down 5.8% on average. AZZ is down 5% during the same time and is heading into earnings with an average analyst price target of $99.67 (compared to the current share price of $89.46).
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