Metal coating and infrastructure solutions provider AZZ (NYSE:AZZ) will be reporting earnings this Wednesday after the bell. Here’s what investors should know.
AZZ beat analysts’ revenue expectations last quarter, reporting revenues of $385.1 million, up 9.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.
Is AZZ a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AZZ’s revenue to grow 3% year on year, in line with the 2.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AZZ has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at AZZ’s peers in the building products segment, only Apogee has reported results so far. It exceeded analysts’ revenue estimates, posting year-on-year sales declines of 1.1%.
Read our full analysis of Apogee’s earnings results here.There has been positive sentiment among investors in the building products segment, with share prices up 4.4% on average over the last month. AZZ is up 11.4% during the same time and is heading into earnings with an average analyst price target of $161.67 (compared to the current share price of $153.11).
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