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Earnings To Watch: AZZ (AZZ) Reports Q1 Results Tomorrow

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AZZ Cover Image

Metal coating and infrastructure solutions provider AZZ (NYSE: AZZ) will be reporting earnings this Wednesday after the bell. Here’s what you need to know.

AZZ beat analysts’ revenue expectations last quarter, reporting revenues of $425.7 million, up 5.5% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue estimates.

Is AZZ a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting AZZ’s revenue to grow 8.6% year on year, a reversal from the 4% decrease it recorded in the same quarter last year.

AZZ Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AZZ has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at AZZ’s peers in the building products segment, only Insteel has reported results so far. It missed analysts’ revenue estimates, delivering year-on-year sales growth of 7.5%. The stock was down 28.2% on the results.

Read our full analysis of Insteel’s earnings results here.

There has been positive sentiment among investors in the building products segment, with share prices up 11.6% on average over the last month. AZZ is up 11.8% during the same time and is heading into earnings with an average analyst price target of $145 (compared to the current share price of $137.45).

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