AZZ reports Q3 adjusted EPS $1.19, consensus $1.00

Reports Q3 revenue $381.6M, consensus $374.73M. Tom Ferguson, President, and CEO, commented, “Both segments performed well in the third quarter, delivering organic sales growth of 3.1% for Metal Coatings and 1.6% for Precoat Metals. Consolidated Adjusted EBITDA margin grew to 22.6%, driven by a favorable mix and a continuation of improvements in operational efficiencies over the prior year. Metal Coatings benefited from strength in transmission and distribution, as well as bridge and highway markets spending, and delivered an EBITDA margin of 30.0%. Precoat Metals’ EBITDA margin of 18.4%, significantly improved over prior year, resulted from strong conversion-selling and value pricing to offset inflation, with a backdrop of certain end-market softness related to the construction, HVAC and transportation markets.”