AZZ Inc. raises FY23 adjusted EPS view to $4.05-$4.25, consensus $3.81

CEO Ferguson said, "Due to the consistent operating performance in our business segments, we are reaffirming our annual sales guidance range of $1.27 billion to $1.32 billion. In addition, we are raising our guidance for adjusted earnings per diluted share for fiscal year 2023 by $0.25 to $4.05 – $4.25 from previously issued guidance of $3.80 – $4.00. Our updated guidance reflects continued strong performance within our segments during the third quarter. Full year guidance reflects the previously communicated seasonally lower fourth quarter, additional interest expense, dividends on our Preferred Stock, and the impact of a normalized forward-looking tax rate. Fourth quarter also excludes any potential impact of equity in earnings on our investment in the AIS JV."