AZZ Reports Higher Sales for Q3

AZZ, a Fort Worth-based company specializing in hot-dip galvanizing and coil-coating solutions, has announced higher sales for its fiscal third quarter. The boost in sales can be attributed to increased spending on new infrastructure projects, the reshoring of manufacturing, and other industry trends driving demand for metal coatings.

For the three months ending on November 30, AZZ reported a profit of $26.9 million, or 92 cents per share. This is a significant improvement compared to the same period last year when the company reported a loss of $20.5 million, or 97 cents per share. Adjusted earnings for the quarter were $1.19 per share, surpassing analysts' expectations of $1.00 per share.

AZZ's revenue also witnessed a positive growth of over 2%, totaling $381.6 million. Analysts predicted revenue of $374.7 million. Within the metal coatings sector, sales increased by more than 3%, while precoat-metals sales rose by almost 2% organically.

CEO Tom Ferguson highlighted the company's success in nonbuilding construction projects related to infrastructure and renewables, as well as the shift towards eco-friendly pre-painted steel and aluminum. AZZ remains well-positioned to continue capitalizing on these industry trends.