FX.co ★ AZZ Shares Rise In Pre-Market On Upbeat Q4 Results

AZZ Inc., a company specializing in galvanizing and metal coating solutions, saw a 3 percent increase in share prices prior to market opening on Monday, with shares skyrocketing to $77.50. The surge is attributed to the company's announcement of their impressive fourth-quarter results, which exceeded expectations.

In the recent quarter, AZZ Inc. recorded a net income of $14.26 million or $0.56 per share, contrasting sharply with the net loss in the corresponding quarter of the previous year which stood at $2.54 million, or $0.10 per share. When factoring out exceptional items, the company's earnings rose to $27.47 million or $0.93 per share, marking a significant upturn from the corresponding figure in the prior-year quarter, which stood at $7.63 million or $0.30 per share.

Quarterly sales witnessed an 8.9 percent growth, reaching $366.49 million, compared to $336.50 million in the same quarter last year. According to an average of five analysts polled by Thomson-Reuters, the expectation was for earnings of $0.70 per share on revenues of $351.67 million.

Currently priced at $74.80, shares of AZZ have been traded within a range of $34.59 to $82.10 over the past 52 weeks.