AZZ rises after upbeat Q4 results

AZZ

22/04/2024 14:24

** Shares of metal coating solutions provider AZZ  AZZ.N    
rise 3.1% to $77.1 premarket
    ** Co reports fourth-quarter sales of $366.5 mln, vs
analysts' estimates of $351.7 mln - LSEG
    ** On an adjusted basis, AZZ earned 93 cents/shr for three
months ended Feb. 29, below analysts' estimates of 70 cents/shr 
     ** Company expects sales between $1.53 bln and $1.63 bln
for FY25, with adjusted profit between $4.50/shr and $5/shr 
    ** "In FY 2025, we will continue to allocate our strong cash
flow generated from operations to further deleverage the company
by approximately $60 - $90 million," AZZ says
    ** 2 of 4 brokerages rate AZZ stock "buy" or higher, 2
"hold"; their median PT is $83.50
    ** YTD, AZZ up 28.8%

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.parmar@thomsonreuters.com))