FX.co ★ AZZ Lifts Annual Guidance

AZZ Inc., a company specializing in hot-dip galvanizing and coil coating solutions, announced a revision to its annual guidance this Monday. Initially projecting an adjusted income per share of $4.25 to $4.75, the company now anticipates an increase of $4.50 to $5 for a 12-month period.

This revised prediction surpasses the expectations of five analysts consulted by Thomson Reuters, who predicted an average earning of $4.69 per share, excluding consideration of special items.

The company likewise raised its annual sales projection from a range of $1.5 billion to $1.6 billion, to an enhanced estimate between $1.525 billion and $1.625 billion. This outpaces the average analyst prediction of $1.57 billion in revenue for the year.

Despite these adjustments, AZZ forecasts its capital expenditures to remain consistent at $100 to $120 million. This includes $50 to $60 million allocated for the completion of a greenfield plant in Washington, Missouri.