Fort Worth, Texas-based AZZ Inc., a global provider of metal coating services, welding solutions, specialty electrical equipment and highly engineered services, today announced its revenue and earnings guidance for fiscal year 2020. Fiscal year 2020 refers to the 12-month period beginning March 1, 2019 and ending on February 29, 2020.
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 2020 earnings to be within the range of $2.25 and $2.75 per diluted share, and revenues are estimated to be within the range of $950 to $1,030 million. Our fiscal year 2020 guidance reflects our estimates given the current market conditions, current backlog expectations, and does not include any significant acquisitions or divestitures."
Ferguson concluded, "We expect fiscal year 2020 earnings to grow 20.5 percent and revenues to grow 4.2 percent at the midpoint of our guidance compared to the recently updated fiscal year 2019 earnings guidance. We will focus on maintaining market share in Metal Coatings while improving operating margin by improving productivity and efficiency of both zinc and labor, and maintaining price realization. In the Energy segment we will focus on continuing to improve Electrical Platform margins while integrating electrical enclosure and switchgear facilities, as well as continue to grow the Industrial international business and expanding its technology and service offerings."