6:35 am AZZ beats by $0.02, misses on revs; narrows FY16 guidance (AZZ) :
•Reports Q3 (Nov) earnings of $0.91 per share, $0.02 better than the Capital IQ Consensus of $0.89; revenues rose 7.8% year/year to $242.4 mln vs the $249.87 mln Capital IQ Consensus.
•Co narrows guidance for FY16, sees EPS of $2.90-3.10 from $2.85-3.30, excluding non-recurring items, vs. $3.03 Capital IQ Consensus; sees FY16 revs $890-915 mln from $900-940 mln vs. $909.34 mln Capital IQ Consensus Estimate.
•"Our WSI specialty welding business continues to penetrate and gain market share in the global markets that we serve. Quoting activity for the quarter was strong, and the current backlog in our Energy Segment remains solid. In the Galvanizing Service Segment, the market continued to present some challenges in the Gulf Coast region from lower oil prices, but we are gaining strength in other sectors to partially compensate, including bridge and highway and electric utilities."
