UPDATE: AZZ Posts 53% Rise In Q3 Profit, Lifts Full-Year Forecast

AZZ

reported a 53% rise in its fiscal third-quarter earnings. AZZ lifted its full-year earnings forecast to $2.35 to $2.45 per share, versus its earlier view of $2.25 to $2.40 per share. It now expects revenue of $575 million to $585 million. AZZ's quarterly profit surged to $15.4 million, or $0.60 per share, from $10 million, or $0.39 per share, in the year-ago period. Its revenue climbed 28% to $149.7 million. However, analysts were expecting earnings of $0.57 per share on revenue of $153 million. AZZ's operating margin rose to 16.1% from 13.9%. AZZ shares closed at $39.81 yesterday.