AZZ Inc. (NYSE: AZZ), a global provider of metal coatings services, welding solutions, specialty electrical equipment and highly engineered services, today announced financial results for the three-month period ended August 31, 2018.
The Fort Worth-based AZZ reported Tuesday that revenues for the second quarter of fiscal year 2019 were $222.8 million compared to $196.3 million for the same quarter last year, an increase of 13.5%.
Net income for the second quarter increased 14.9% to $11.2 million, or $0.43 per diluted share, compared to net income of $9.8 million, or $0.38 per diluted share, for the second quarter of fiscal year 2018.
Gross margins were 21.1% compared to 22.3% in the second quarter of last year. Operating margins were 7.7% compared to 8.9% the second quarter of fiscal year 2018 as SG&A as a percentage of sales fell to 13.4% of sales compared to 13.5% of sales in the prior year.
Earnings per share guidance range for Fiscal 2019 decreased to $1.90 to $2.25 from $1.75 to $2.25 and increases sales guidance range for Fiscal 2019 to $930 million to $970 million from $900 million to $960 million,
Second-quarter Fiscal Year 2019 earnings per share of $0.43, inclusive of costs associated with galvanizing plant consolidation, on revenues of $222.8 million.
Said CEO Tom Ferguson, "We are very pleased to achieve double-digit, year-over-year growth for both top- and bottom-lines for the second quarter of fiscal year 2019."
Prices jumped 31 cents to $48.99 approaching noon ET on Tuesday.
