AZZ Sees FY15 EPS Slightly Above Mid-point Of Guidance Range

(RTTNews) - AZZ Inc. (AZZ) said Monday that it now expects fiscal 2015 earnings to be slightly above the midpoint of its prior guidance of $2.40 to $2.60 per share, and revenues to be slightly below its prior guidance of $825 billion to $850 million.

Analysts polled by Thomson Reuters currently expect the company to report earnings of $2.51 per share on revenue of $835.91 million for the fiscal year 2015.

Tom Ferguson, president and chief executive officer of AZZ, said, ""Our fiscal 2015 earnings performance is expected to exceed the midpoint of our guidance on enhanced margins in our Energy business segment and our improved effective tax rate. Revenues for fiscal 2015 fell slightly short of the bottom end of guidance, due to a combination of severe weather conditions, continued market uncertainty in oil and gas markets, as well as slight project deferrals in refineries affected by ongoing strikes."

However, AZZ reaffirmsed its fiscal 2016 guidance, which calls for earnings of $2.75 to $3.25 per share and revenues of $875 million to $925 million. Analysts polled by Thomson Reuters currently expect the company to earn $2.95 per share on revenue of $895.66 million for the fiscal year 2016.