AZZ Inc. reports earnings guidance for fiscal 2021

Monday, 27 January 2020 21:09:55 (GMT+3)   |   San Diego

AZZ Inc. today announced revenue and earnings guidance for fiscal year 2021. Fiscal year 2021 refers to the 12-month period beginning March 1, 2020 and ending on February 28, 2021.

Tom Ferguson, president and chief executive officer of AZZ, said, "Based upon the evaluation of information currently available to management, we are projecting our fiscal 2021 earnings to be within the range of $2.65 and $3.15 per diluted share, and estimate revenue to be within the range of $970 million to $1.06 billion. Our fiscal year 2021 guidance reflects our best estimates given current market conditions, current backlog expectations, and does not include any potential acquisitions or divestitures."

Ferguson concluded, "We expect fiscal year 2021 earnings to continue to grow but revenue to be somewhat challenged due to our lower anticipated backlog for China as we enter fiscal 2021."

"As we continue into fiscal 2021," continued Ferguson, "our focus will be on growing our core Metal Coatings business, our electrical enclosure and switchgear businesses, and international welding solutions within our Energy segment. We are actively taking the necessary actions to concentrate our resources on expanding our core businesses, driving overall growth and enhancing shareholder value. We are excited with the opportunities ahead."

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