AZZ (AZZ) Misses Q2 Earnings and Revenue Estimates

Core Insights - AZZ reported quarterly earnings of $1.55 per share, slightly missing the Zacks Consensus Estimate of $1.56 per share, but showing an increase from $1.37 per share a year ago, resulting in an earnings surprise of -0.64% [1] - The company posted revenues of $417.28 million for the quarter, which was 2.84% below the Zacks Consensus Estimate, but an increase from $409.01 million year-over-year [2] - AZZ shares have increased by approximately 28.3% since the beginning of the year, outperforming the S&P 500's gain of 14.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.53, with expected revenues of $431.16 million, and for the current fiscal year, the EPS estimate is $6.02 on revenues of $1.68 billion [7] - The estimate revisions trend for AZZ was favorable prior to the earnings release, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Manufacturing - Electronics industry, to which AZZ belongs, is currently ranked in the bottom 39% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Another company in the same industry, A.O. Smith, is expected to report quarterly earnings of $0.89 per share, reflecting a year-over-year increase of 8.5%, with revenues projected at $935.3 million, up 3.6% from the previous year [9][10]