6:08 am AZZ beats by $0.02, reports revs in-line; guides FY15 EPS in-line, revs in-line ( AZZ) : Reports Q3 (Nov) earnings of $0.75 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.73; revenues rose 13.7% year/year to $224.8 mln vs the $223.74 mln consensus.
AZZ's backlog at the end of the third quarter of fiscal 2015 was $300.3 million, compared to $290.0 million at the end of the third quarter of fiscal 2014. Incoming orders for the third quarter of fiscal 2015 were $196.1 million while revenue for the quarter totaled $224.8 million, resulting in a book to ship ratio of 0.87.For purposes of comparison, for the third quarter of fiscal 2014 incoming orders were $193.7 million resulting in a book to ship ratio of 0.98 for that period.Guidance:
Co issues lowers guidance for FY15, sees EPS of $2.40-2.60, excluding non-recurring items, vs. $2.50 Capital IQ Consensus Estimate (previously $2.40-2.80 per share); sees FY15 revs of $825-850 mln vs. $847.54 mln Capital IQ Consensus Estimate (previously $850 million to $900 million).
Commentary: "In the coming quarters we expect to see continued growth in the power, petrochemical, and industrial markets...We are closely monitoring developments in the oil and gas market, and the nuclear power market where the signals for continued growth are not as apparent. For the remainder of fiscal 2014, we are adjusting our projections due to the push-out of certain large nuclear related projects at our NLI business unit that we believe will now ship in the later part of our next fiscal year. Due to this move, we are narrowing our earnings guidance for the full fiscal year 2015..." |
