AZZ Raises FY2027 Guidance After Second-Quarter Results Beat Estimates
AZZ reported quarterly earnings of $2.00 per share versus the $1.85 analyst consensus and sales of $486.892 million versus $463.481 million. The company raised its FY2027 guidance.
AZZ Inc. (NYSE: AZZ) reported second-quarter earnings of $2.00 per share, above the analyst consensus estimate of $1.85. Quarterly sales were $486.892 million, compared with the $463.481 million consensus estimate. The company also raised its FY2027 guidance after the market close on Tuesday.
President and Chief Executive Officer Tom Ferguson said record second-quarter sales of $486.9 million, up 16.7%, reflected strong execution, the company’s long-term strategy and the durability of its business model. He said AZZ delivered record-setting results in the first half of the year and was on track to set new sales and profitability records for fiscal year 2027. Ferguson added that the company was raising its annual financial guidance, citing quarterly performance, sustained sales momentum across both segments and increased confidence in its outlook for the rest of fiscal year 2027. AZZ shares fell 2.6% to $134.06 on Thursday.
Analysts made changes to their AZZ price targets after the earnings announcement. Baird analyst Matthew Krueger An analyst maintained a Neutral rating on the stock and cut the price target from $155 to $150. B. Riley Securities analyst Nick Giles kept a Buy rating and lifted the target from $170 to $174.
Wells Fargo analyst Timna Tanners retained an Equal-Weight rating and raised the target from $144 to $145. Barclays analyst Richard Garchitorena also maintained an Equal-Weight rating, increasing the target from $140 to $145.