FORT WORTH, Texas (AP) — FORT WORTH, Texas (AP) — AZZ Inc. (AZZ) on Wednesday reported fiscal first-quarter profit of $39.6 million.
On a per-share basis, the Fort Worth, Texas-based company said it had net loss of $1.38. Earnings, adjusted for one-time gains and costs, were $1.46 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The electrical equipment maker posted revenue of $413.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $400.6 million.
AZZ expects full-year earnings in the range of $4.50 to $5 per share, with revenue in the range of $1.53 billion to $1.63 billion.
AZZ shares have increased 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $76.45, a rise of 79% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AZZ at https://www.zacks.com/ap/AZZ
