37.5 F
Fort Worth
Friday, December 4, 2020
How Recent Political Changes Will Impact Your Bottom Line
Energy Fort Worth electrical equipment maker reports increase in profits for year

Fort Worth electrical equipment maker reports increase in profits for year

Other News

A look at big issues on Supreme Court’s agenda

Some of the issues either already on the Supreme Court's docket when it begins its new session or likely to be before the justices...

Wall Street posts solid gains after surge in corporate deals

By ALEX VEIGA and DAMIAN J. TROISE AP Business Writers Wall Street kicked off the week with a broad rally Monday, clawing back much of...

Tarrant County ranks low in work-from-home study by NAR

North Texas ranks pretty high in the “Work from Home” category, according to a just-released study by the National Association of Realtors. But Tarrant...

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude oil for...

FORT WORTH (AP) _ AZZ Inc. (AZZ) on Monday reported fiscal fourth-quarter earnings of $8.9 million.

On a per-share basis, the Fort Worth-based company said it had net income of 34 cents.

The electrical equipment maker posted revenue of $202.5 million in the period.

AZZ expects full-year earnings to be $2.25 to $2.75 per share, with revenue in the range of $950 million to $1.03 billion.

For the year, the company reported profit of $51.2 million, or $1.96 per share.

For the 12-month period, the Company reported revenues of $927.1 million compared to $810.4 million for the comparable period last year, an increase of 14.4%. Operating income increased 59.5% to $77 million compared to $48.2 million in last year’s comparable twelve month period. Net income for the twelve months increased 13.4% to $51.2 million, or $1.96 per diluted share, compared to $45.2 million, or $1.73 per diluted share compared to the prior fiscal year.

“In Fiscal 2019 we achieved solid double-digit year-over-year growth for both top- and bottom-lines, while posting our 32nd consecutive year of profitability,” said Tom Ferguson, president and CEO. “We experienced a resurgence in demand for galvanizing services, refinery turnarounds, and an increase in international projects for the Energy Segment, which generated revenue growth of 14% and a 13% increase in net income. Our consolidated bookings for the year increased 32% to $988.6 million and our backlog increased 25% to $332.9 million; driving our book to revenue ratio to 1.07 versus .92 in the previous year. We have a strong cash flow business that for the year generated $114.7 million of net cash provided by operating activities, an increase of 45%.”

AZZ shares have increased 9% since the beginning of the year. The stock has risen roughly 5% in the last 12 months.

_____

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 Also, FWBP Staff


close






Oh hi there 👋 It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Japan spacecraft approaches Earth to drop asteroid samples

TOKYO (AP) — Japanese space agency officials said Friday the Hayabusa2 spacecraft is on its intended trajectory as it approaches Earth to deliver a...

New Mexico research group adds ExxonMobil as sponsor

LAS CRUCES, N.M. (AP) — A research group focused on the potential for reusing wastewater produced during oil and gas operations is getting some...

Hewlett Packard Enterprise to move headquarters to Texas

SPRING, Texas (AP) — Tech giant Hewlett Packard Enterprise said it is moving its global headquarters to the Houston area from California, where the...

Phishing ploy targets COVID-19 vaccine distribution effort

BOSTON (AP) — IBM security researchers say they have detected a cyberespionage effort using targeted phishing emails to try to collect vital information on...

Chinese moon probe begins return to Earth with lunar samples

BEIJING (AP) — A Chinese lunar probe lifted off from the moon Thursday night with a cargo of lunar samples on the first stage...