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AZZ Q1 Earnings & Revenues Beat Estimates, Backlog Up Y/Y

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Hope Bancorp (HOPE) Meets Q3 Earnings Estimates

Hope Bancorp (HOPE) delivered earnings and revenue surprises of 0.00% and -3.03%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?

AZZ Incorporated AZZ posted earnings per share of 60 cents in first-quarter fiscal 2019 (ended May 31, 2018), which beat the Zacks Consensus Estimate of 47 cents by 27.66% and improved 17.6% year over year.

Total Revenues

In the quarter under review, the company delivered revenues of $262.2 million, which surpassed the Zacks Consensus Estimate of $219 million by 19.7%.

The top line increased 27.7% from $205 million in the prior-year quarter. Revenues in the Energy and Metal Coatings segments increased 29.8% and 25.2%, respectively, on a year-over-year basis.

AZZ Inc. Price, Consensus and EPS Surprise

AZZ Inc. Price, Consensus and EPS Surprise | AZZ Inc. Quote

Backlogs & Booking

Bookings in first-quarter fiscal 2019 were $320.5 million and the book to ship ratio of 1.22.

At the end of the first quarter fiscal 2019, the company’s total backlog was $329.7million, up 7.6% from $306.4 million in the year-ago period. Of the existing backlog, 43% will be delivered outside the United States.

Quarterly Highlights

Total operating income in the quarter improved 18.3% to $23.7 million from the year-ago quarter’s figure.

Selling, general and administrative expenses came in at $35 million, up 28% from $27.4 million in the prior-year quarter.

Interest expenses in first-quarter fiscal 2019 increased to $3.8 million from $3.3 million in the prior-year quarter.

Guidance

The company reaffirmed fiscal 2019 earnings per share guidance in the range of $1.75-$2.25 and sales guidance in the range of $900-$960 million.

Zacks Rank

AZZ currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Manufacturing Electronics Releases

Eaton Corporation ETN is expected to report second-quarter 2018 results on July 8, 2018. The Zacks Consensus Estimate for 2018 earnings has inched up 0.9% to $5.22 in the last 90 days.

A. O. Smith Corporation AOS is expected to report second-quarter 2018 results on July 25, 2018. The Zacks Consensus Estimate for 2018 earnings has moved up 0.8% to $2.59 in the last 90 days.

Emerson Electric Co. EMR is expected to report third-quarter fiscal 2018 results on July 8, 2018. The Zacks Consensus Estimate for 2018 earnings rose 2% to $3.18 in the last 90 days.

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