AZZ Inc. reports Q3 adjusted EPS $1.39, consensus $1.27

Reports Q3 revenue $403.7M, consensus $396.64M. Tom Ferguson, President, and CEO of AZZ, commented, “Third quarter results exceeded expectations as third quarter sales grew to $403.7 million, up 5.8% over the prior year, with Adjusted EPS of $1.39. Consolidated Adjusted EBITDA grew to $90.7 million, or 22.5% of sales, primarily driven by higher volume for hot-dip galvanized steel and coil-coated materials and operational productivity over the prior year. Metal Coatings benefited from lower zinc costs and improved zinc utilization and delivered an Adjusted EBITDA margin of 31.5%. Precoat Metals’ Adjusted EBITDA mar”gin improved to 19.1%, primarily due to sales growth, favorable mix and improved operational performance.