FORT WORTH, Texas (AP) 鈥� FORT WORTH, Texas (AP) 鈥� AZZ Inc. (AZZ) on Wednesday reported fiscal first-quarter net income of $52 million.
The Fort Worth, Texas-based company said it had net income of $1.72 per share. Earnings, adjusted for one-time gains and costs, came to $1.85 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The electrical equipment maker posted revenue of $448.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $435.5 million.
AZZ expects full-year earnings in the range of $6.75 to $7.15 per share, with revenue in the range of $1.8 billion to $1.85 billion.
AZZ shares have risen 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $143.60, an increase of 45% in the last 12 months.
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