AZZ Eyes Growth Spurt: Strong Markets Fuel FY25 Sales, Profit Forecast
Portfolio Pulse from Lekha Gupta
AZZ Inc. (NYSE:AZZ) has raised its FY25 sales and profit forecasts due to strong performance in several end markets. The company now expects sales between $1.525 billion and $1.625 billion, and adjusted EPS between $4.50 and $5.00. Adjusted EBITDA forecast has also been increased to $310 million - $360 million. AZZ plans to further deleverage by $60 million - $90 million and has seen a credit rating upgrade by S&P Global. The company focuses on organic growth in its Metal Coatings and Precoat Metals segments. AZZ shares rose 1.82% in premarket trading. Exposure to AZZ stock can also be gained through Ballast Small/Mid Cap ETF (NYSE:MGMT) and Gabelli Automation ETF (NYSE:GAST).
April 08, 2024 | 12:43 pm
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POSITIVE IMPACT
AZZ Inc. raised its FY25 sales and profit forecasts, indicating strong performance and market confidence. Shares rose 1.82% in premarket trading.
The increase in sales and profit forecasts, along with a credit rating upgrade and a focus on organic growth, are positive indicators for AZZ's future performance. The premarket stock price increase reflects immediate positive investor reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Gabelli Automation ETF (GAST) provides exposure to AZZ Inc., which has recently updated its FY25 forecasts positively, potentially impacting GAST.
Given that GAST ETF holds AZZ Inc. shares, the improved financial outlook and stock performance of AZZ are likely to have a positive effect on GAST's performance and appeal to investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Ballast Small/Mid Cap ETF (MGMT) offers exposure to AZZ Inc., which has raised its FY25 forecasts, potentially benefiting MGMT holders.
As MGMT ETF includes AZZ Inc. in its holdings, the positive outlook and performance of AZZ could contribute to the ETF's attractiveness and potential performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50