FORT WORTH, Texas, Feb. 7, 2017 /PRNewswire/ -- AZZ Inc.
(NYSE:AZZ), a global provider of galvanizing services, welding
solutions, specialty electrical equipment and highly engineered
services, today announced its revenue and earnings guidance for
fiscal year 2018. Fiscal year 2018 refers to the 12-month period
beginning March 1, 2017 and ending on
February 28, 2018.
Tom Ferguson, president and chief
executive officer of AZZ, said, "Based upon the evaluation of
information currently available to management, we are projecting
our fiscal 2018 earnings to be within the range of $2.85 and $3.15 per
diluted share, and revenues are estimated to be within the range of
$900 to $970 million. Our fiscal year
2018 guidance reflects our estimates given the current market
conditions, quarterly seasonality, and does not include any
significant acquisitions or divestitures."
Mr. Ferguson, concluded, "Fiscal year 2018 guidance includes AZZ
Nuclear Logistics, LLC ("AZZ NL"), which will be a main part of the
Energy segment. AZZ NL will be operated under the Industrial
Solutions Platform which has a significant welding solutions
offering to the global nuclear industry. This move would have been
disruptive to AZZ WSI and AZZ NL businesses two years ago, while we
were in the process of rebuilding these businesses, as they require
different operational skill sets. We believe we can drive synergies
between our business for our customers since both have sales
organizations serving the domestic and international nuclear
markets. Additionally, we anticipate leveraging the finance, legal
and human resources functions across the broader business."
About AZZ Inc.
AZZ Inc. is a global provider of galvanizing services, welding
solutions, specialty electrical equipment and highly engineered
services to the markets of power generation, transmission,
distribution and industrial in protecting metal and electrical
systems used to build and enhance the world's infrastructure. AZZ
Galvanizing is a leading provider of metal finishing solutions for
corrosion protection, including hot dip galvanizing to the North
American steel fabrication industry. AZZ Energy is dedicated to
delivering safe and reliable transmission of power from generation
sources to end customers, and automated weld overlay solutions for
corrosion and erosion mitigation to critical infrastructure in the
energy markets worldwide.
Safe Harbor Statement
Certain statements herein about our expectations of future
events or results constitute forward-looking statements for
purposes of the safe harbor provisions of The Private Securities
Litigation Reform Act of 1995. You can identify forward-looking
statements by terminology such as, "may," "should," "expects,"
"plans," "anticipates," "believes," "estimates," "predicts,"
"potential," "continue," or the negative of these terms or other
comparable terminology. Such forward-looking statements are based
on currently available competitive, financial and economic data and
management's views and assumptions regarding future events. Such
forward-looking statements are inherently uncertain, and investors
must recognize that actual results may differ from those expressed
or implied in the forward-looking statements. This release may
contain forward-looking statements that involve risks and
uncertainties including, but not limited to, changes in customer
demand and response to products and services offered by AZZ,
including demand by the power generation markets, electrical
transmission and distribution markets, the industrial markets, and
the hot dip galvanizing markets; prices and raw material cost,
including zinc and natural gas which are used in the hot dip
galvanizing process; changes in the political stability and
economic conditions of the various markets that AZZ serves, foreign
and domestic, customer requested delays of shipments, acquisition
opportunities, currency exchange rates, adequacy of financing, and
availability of experienced management and employees to implement
AZZ's growth strategy. AZZ has provided additional information
regarding risks associated with the business in AZZ's Annual Report
on Form 10-K for the fiscal year ended February 29, 2016 and other filings with the SEC,
available for viewing on AZZ's website at www.azz.com and on the
SEC's website at www.sec.gov. You are urged to consider these
factors carefully in evaluating the forward-looking statements
herein and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by this cautionary statement. These statements are based on
information as of the date hereof and AZZ assumes no
obligation to update any forward-looking statements, whether as a
result of new information, future events, or otherwise.
Contact:
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Paul Fehlman, Senior
Vice President - Finance and CFO
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AZZ Inc.
817-810-0095
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Internet:
www.azz.com
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Lytham Partners
602-889-9700
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Joe Dorame, Robert
Blum or Joe Diaz
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Internet:
www.lythampartners.com
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SOURCE AZZ Inc.