AZZ Inc. announced financial results for the fiscal three-month periods ended November 30, 2019.
Revenues for the third quarter of fiscal year 2020 were $291.1 million compared to $239.5 million for the same quarter last year, an increase of 21.6 percent. Net income for the third quarter increased 43.1 percent to $22.0 million, compared to $15.4 million for the third quarter of fiscal year 2019.
Incoming orders for the quarter were $263.7 million resulting in a book to revenue ratio of 0.91. In the third quarter of fiscal year 2019 incoming orders were $211.3 million, resulting in a book to revenue ratio of 0.88.
Revenues for the Metal Coatings segment for the third quarter of fiscal year 2020 were $129.2 million, compared to the $107.5 million for the same period last year, an increase of 20.2 percent. Gross profit grew 46.0 percent to $31.6 million from $21.7 million in the same quarter last year, driving gross margins of 24.5 percent compared to 20.2 percent in the same quarter last year.
Revenues for the Energy segment for the third quarter of fiscal year 2019 were $161.9 million as compared to $132.0 million for the same quarter last year, an increase of 22.7 percent. Gross profit rose 27.1 percent to $35.7 million compared to $28.1 million for the same period last year, with gross margins of 22.0 percent for the third quarter of fiscal year 2020 compared to 21.3 percent in the prior year.