Latest news with #TomFerguson
Yahoo
09-05-2025
- Yahoo
Las Vegas driver hit with $417 ticket wants traffic laws changed: ‘When you're retired, that's a lot of money'
LAS VEGAS (KLAS) — Pay first, fight later: If you get a traffic ticket in Nevada, you have to pay the penalty before you even go to court — $417 later, a Las Vegas couple learned that the hard way. In January, a Clark County School District police officer pulled over Kim Ferguson for speeding. 'Hi, how are you doing?' the interaction began, according to body-camera video the 8 News Now Investigators obtained. But that quick, friendly greeting later gave Ferguson a not-so-pleasant feeling. 'I said, 'Oh my gosh. I've never had a ticket before. I don't know what to do,'' she said about the stop. Her ticket-free streak ended as the officer cited her for going over the speed limit in a 15-mile-per-hour school zone. 'The reason I'm stopping you is it's a 15-mile-an-hour school zone right now on Spencer,' the officer said. 'You're doing a 31 going through it.' The officer would lower that speed to 20 for Ferguson's ticket, telling her it would cost several hundred dollars. Ferguson, who said she drives below the speed limit and was following the flow of traffic as it sped up at the end of the school zone, expected a $200 bill. 'We looked on the thing and I told my husband, 'Oh my god, it's $417,'' Ferguson said. It's $417 a state law requires her to pay, whether she wanted to fight it or not. 'You're going to have to contact the court to pay the fine — if you want to go to court to court to contest it. All the information is right here,' the officer said before driving off. 'When you're retired, that's a lot of money,' said Kim's husband, Tom Ferguson, calling the system a revenue generator. 'Now maybe to some people it's not, but to us it is.' The Fergusons paid the ticket and said there was no point in fighting it. They added that it would cost more money to hire a lawyer. 'The punishment doesn't match the crime,' Tom Ferguson said. 'If you were doing 50 miles per hour in a school zone, I would understand that, but 20? It doesn't make sense to me.' It did not make sense to lawmakers either. Since 2021, Nevada lawmakers, both Democrats and Republicans, have changed most traffic infractions, like a speeding ticket, to be a civil infraction, not a criminal one. That means tickets no longer carry the threat of jail time, and missed court appearances do not really matter in the long run since the court may already have your money. The way state law is interpreted now: 'The court shall require the person to post a bond equal to the amount of the full payment of the monetary penalty,' means ticketed drivers have to pay in full, no matter what. 'I think the bigger issue, especially among my colleagues here at the Legislature, is just the unfairness in having to pay the fine first and then be seen by a judge,' Democratic State Sen. Melanie Scheible said. Her proposal, Senate Bill 359, would amend Nevada's traffic-ticket law to give courts flexibility to reduce that bond — that ticket payment. 'For many Nevadans, especially those with limited financial means, this upfront payment creates a financial barrier to their right to a hearing,' Scheible said during a recent legislative hearing. In Kim Ferguson's case, she paid the bond and lost faith in the system. In addition, changes in Senate Bill 359 would combine civil and criminal infractions — minor speeding offenses versus driving without a license — and allow a judge to deal with both in one hearing. 'We have to continue to develop legislation that still allows for our enforcement agencies to hold people accountable when they violate traffic laws,' Scheible said. The Fergusons feel the system is a money maker, adding that they paid an additional fee to pay online. Moving forward, Kim Ferguson, who said she always drives below the speed limit, said this was her first and final citation. 'I just go a lot slower now — there's no more tickets,' she said. The 8 News Now Investigators discovered a potential error on the ticket, leading to questions about the validity of the entire case. The officer who wrote the ticket noted a registration lapse, however, the Fergusons said they always keep up with their payments. A spokesperson for the Nevada Department of Motor Vehicles confirmed it did not appear the Fergusons ever had a lapse in coverage. Scheible's proposal passed unanimously out of the state Senate. It was moving forward in the Assembly and would likely pass in that chamber as well. 8 News Now Investigator David Charns can be reached at dcharns@ Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
23-04-2025
- Business
- Yahoo
AZZ Q1 Earnings: Weather Disruptions Drive Revenue Miss, Guidance Remains Stable
Metal coating and infrastructure solutions provider AZZ (NYSE:AZZ) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 4% year on year to $351.9 million. On the other hand, the company's outlook for the full year was close to analysts' estimates with revenue guided to $1.68 billion at the midpoint. Its non-GAAP profit of $0.98 per share was in line with analysts' consensus estimates. Is now the time to buy AZZ? Revenue: $351.9 million vs analyst estimates of $367.8 million (4% year-on-year decline, 4.3% miss) Adjusted EPS: $0.98 vs analyst estimates of $0.98 (in line) Adjusted EBITDA: $71.18 million vs analyst estimates of $73.34 million (20.2% margin, 2.9% miss) Management's revenue guidance for the upcoming financial year 2026 is $1.68 billion at the midpoint, in line with analyst expectations and implying 6.2% growth (vs 2.5% in FY2025) Adjusted EPS guidance for the upcoming financial year 2026 is $5.80 at the midpoint, missing analyst estimates by 0.7% EBITDA guidance for the upcoming financial year 2026 is $380 million at the midpoint, above analyst estimates of $369.1 million Operating Margin: 13.5%, down from 14.6% in the same quarter last year Free Cash Flow Margin: 9.8%, similar to the same quarter last year Market Capitalization: $2.39 billion AZZ's first quarter was impacted by severe winter weather, leading to over 200 lost production days and contributing to a revenue shortfall. Management emphasized that both the Metal Coatings and Precoat Metals segments faced lower volumes, but noted that operational improvements helped maintain gross margins. CEO Tom Ferguson highlighted that, despite these challenges, the company quickly recovered lost production in March and April, stating, 'We're looking for a very strong first quarter on the Metal Coatings side, and they're out of the gate really, really well.' For the year ahead, AZZ's guidance reflects steady infrastructure demand and minimal tariff impact on key inputs like zinc. Management reiterated its revenue outlook, with Ferguson noting, 'We anticipate delivering above-market growth while getting some bolt-on acquisitions done.' The company expects to benefit from continued investments in infrastructure and the ramp-up of its new aluminum coil coating facility, while maintaining a disciplined approach to capital allocation and growth. AZZ's management pointed to weather-related disruptions as the primary cause of the revenue miss, but maintained confidence in the company's long-term positioning and operational recovery. The team also discussed the successful ramp-up of new facilities and outlined its approach to capital deployment and acquisitions. Weather impact on production: Inclement weather resulted in over 200 lost production days, particularly affecting the Metal Coatings segment. Management said nearly all lost revenue was recovered in March and April as conditions improved. Operational improvements support margins: Despite volume declines, operational enhancements in both core segments contributed to stable gross margins, with Metal Coatings achieving a 30.9% EBITDA margin for the year. New plant ramp-up underway: The Precoat Metals segment began commercial shipments from its new aluminum coil coating facility in Missouri, supported by contracts covering about 75% of its capacity. Management expects the plant to be a positive margin contributor as it ramps through the year. Limited input cost risk from tariffs: The company indicated that key input zinc is exempt from current tariffs, alleviating concerns about supply or cost disruptions. Other minor supply items have seen some cost increases, but management is addressing these through price adjustments. Active M&A pipeline: Management is pursuing bolt-on acquisitions in galvanizing and larger opportunities in coil coating, emphasizing a disciplined approach and expectation for at least one deal to close in the current quarter. AZZ's management reaffirmed guidance for the upcoming year, projecting revenue of $1.68 billion at the midpoint, adjusted EBITDA of $380 million, and adjusted EPS of $5.80—numbers that align closely with analyst expectations. Infrastructure spending tailwinds: Ongoing public and private investments in infrastructure, including bridge, highway, and transmission projects, are expected to sustain demand for AZZ's coatings and metal products. New facility contributions: The recently launched aluminum coil coating plant is anticipated to increase segment margins and drive incremental top-line growth as it ramps toward full utilization. Capital allocation and acquisition strategy: Management plans to allocate capital between further debt reduction, potential share buybacks, and disciplined acquisitions, which could enhance future earnings but also introduce execution risks if integration or market conditions shift. Adam Thalhimer (Thompson, Davis): Asked about the recovery from weather disruptions and the outlook for Q2, to which management responded that lost revenues in Metal Coatings have already been recouped, with production running ahead of expectations in March and April. John Franzreb (Sidoti & Company): Inquired about the order book's momentum amid macro uncertainty; management noted optimism in customer activity and no significant project delays tied to current economic conditions. Mark Reichman (NOBLE Capital Markets): Sought clarity on debt reduction goals and capital allocation after the divestiture proceeds; management indicated that $300 million in debt reduction is realistic, with some funds possibly allocated to share buybacks. Ghansham Panjabi (Baird): Queried about incremental positives in the guidance compared to earlier in the year; management highlighted a strong Q1 start and anticipated bolt-on acquisitions as key sources of upside. Timna Tanners (Wolfe Research): Asked about the impact of tariffs on materials and potential downstream benefits; management explained that zinc is exempt from tariffs, and some minor inputs face higher costs, but the company is able to offset these with price adjustments. Looking ahead, the StockStory team will be monitoring (1) the pace at which AZZ's new Missouri coil coating plant ramps up production and contributes to margins, (2) the successful execution and integration of planned bolt-on acquisitions, and (3) any further impacts or adjustments stemming from tariffs and input cost pressures. Progress on infrastructure spending and the company's ability to maintain or expand market share will also be central to our ongoing analysis. Does AZZ have what it takes to generate strong returns? Find out in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Sterling Infrastructure (+1,096% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
22-04-2025
- Business
- Yahoo
AZZ (NYSE:AZZ) Reports Sales Below Analyst Estimates In Q1 Earnings
Metal coating and infrastructure solutions provider AZZ (NYSE:AZZ) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 4% year on year to $351.9 million. On the other hand, the company's outlook for the full year was close to analysts' estimates with revenue guided to $1.68 billion at the midpoint. Its non-GAAP profit of $0.98 per share was in line with analysts' consensus estimates. Is now the time to buy AZZ? Find out in our full research report. Revenue: $351.9 million vs analyst estimates of $367.8 million (4% year-on-year decline, 4.3% miss) Adjusted EPS: $0.98 vs analyst estimates of $0.98 (in line) Adjusted EBITDA: $71.18 million vs analyst estimates of $73.34 million (20.2% margin, 2.9% miss) Management's revenue guidance for the upcoming financial year 2026 is $1.68 billion at the midpoint, in line with analyst expectations and implying 6.2% growth (vs 2.5% in FY2025) Adjusted EPS guidance for the upcoming financial year 2026 is $5.80 at the midpoint, missing analyst estimates by 0.7% EBITDA guidance for the upcoming financial year 2026 is $380 million at the midpoint, above analyst estimates of $369.1 million Operating Margin: 11.5%, down from 13% in the same quarter last year Market Capitalization: $2.42 billion Tom Ferguson, President, and Chief Executive Officer of AZZ, commented, "Fiscal year 2025 was a successful year for AZZ. We delivered record full year results and made significant progress on our growth initiatives throughout the year. We are pleased with full-year sales growth of 2.6%, which includes record results in both Metal Coatings and Precoat Metals, despite navigating significant weather impacts in the fourth quarter. For the year, our Metal Coatings segment delivered sales of $665.1 million, and 30.9% EBITDA margin, while Precoat Metals delivered sales of $912.6 million and 19.6% EBITDA margin. Responsible for projects like nuclear facilities, AZZ (NYSE:AZZ) is a provider of metal coating and power infrastructure solutions. Commercial building products companies, which often serve more complicated projects, can supplement their core business with higher-margin installation and consulting services revenues. More recently, advances to address labor availability and job site productivity have spurred innovation. Additionally, companies in the space that can produce more energy-efficient materials have opportunities to take share. However, these companies are at the whim of commercial construction volumes, which tend to be cyclical and can be impacted heavily by economic factors such as interest rates. Additionally, the costs of raw materials can be driven by a myriad of worldwide factors and greatly influence the profitability of commercial building products companies. A company's long-term sales performance is one signal of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Over the last five years, AZZ grew its sales at a decent 8.2% compounded annual growth rate. Its growth was slightly above the average industrials company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. AZZ's annualized revenue growth of 9.2% over the last two years aligns with its five-year trend, suggesting its demand was stable. AZZ's recent performance shows it's one of the better Commercial Building Products businesses as many of its peers faced declining sales because of cyclical headwinds. This quarter, AZZ missed Wall Street's estimates and reported a rather uninspiring 4% year-on-year revenue decline, generating $351.9 million of revenue. Looking ahead, sell-side analysts expect revenue to grow 5.9% over the next 12 months, a deceleration versus the last two years. This projection is underwhelming and suggests its products and services will see some demand headwinds. At least the company is tracking well in other measures of financial health. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. AZZ has been an efficient company over the last five years. It was one of the more profitable businesses in the industrials sector, boasting an average operating margin of 14%. This result was particularly impressive because of its low gross margin, which is mostly a factor of what it sells and takes huge shifts to move meaningfully. Companies have more control over their operating margins, and it's a show of well-managed operations if they're high when gross margins are low. Analyzing the trend in its profitability, AZZ's operating margin rose by 5.3 percentage points over the last five years, as its sales growth gave it immense operating leverage. In Q1, AZZ generated an operating profit margin of 11.5%, down 1.5 percentage points year on year. Since AZZ's operating margin decreased more than its gross margin, we can assume it was less efficient because expenses such as marketing, R&D, and administrative overhead increased. Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. AZZ's EPS grew at a remarkable 13.9% compounded annual growth rate over the last five years, higher than its 8.2% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. We can take a deeper look into AZZ's earnings quality to better understand the drivers of its performance. As we mentioned earlier, AZZ's operating margin declined this quarter but expanded by 5.3 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its higher earnings; taxes and interest expenses can also affect EPS but don't tell us as much about a company's fundamentals. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For AZZ, its two-year annual EPS growth of 24% was higher than its five-year trend. We love it when earnings growth accelerates, especially when it accelerates off an already high base. In Q1, AZZ reported EPS at $0.98, up from $0.93 in the same quarter last year. This print was close to analysts' estimates. Over the next 12 months, Wall Street expects AZZ's full-year EPS of $5.20 to grow 12.1%. It was great to see AZZ's full-year EBITDA guidance top analysts' expectations. On the other hand, its revenue and EBITDA fell short of Wall Street's estimates. Overall, this was a mixed quarter. The stock remained flat at $77.62 immediately following the results. AZZ didn't show it's best hand this quarter, but does that create an opportunity to buy the stock right now? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
05-02-2025
- Business
- Yahoo
AZZ Inc. Issues Fiscal Year 2026 Guidance
FORT WORTH, Texas, Feb. 5, 2025 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced financial guidance for fiscal year 2026. Fiscal year 2026 refers to the 12-month period beginning on March 1, 2025, and ending on February 28, Guidance FY2026 Guidance (1) Sales $1.550 - $1.600 billion $1.625 - $1.725 billion Adjusted EBITDA $340 - $360 million $360 - $400 million Adjusted Diluted EPS $5.00 - $5.30 $5.50 - $6.10 FY2026 Guidance Assumptions: Results include approximately $15-$18 million of equity income from AZZ's minority interest in its unconsolidated subsidiary. The newly built Washington, Missouri plant is expected to be operational in the first half of FY2026, and accretive to earnings in the second half of FY2026. Capital expenditures are expected to be approximately $60 to $80 million, down from $100 to $120 million for FY2025 due to the completion of the Washington, Missouri facility in early 2025. Debt-to-leverage ratio is estimated to be between 1.5 to 2.5 times, interest expense is expected to be $60 to $70 million, and the annualized effective tax rate of 25% excludes federal regulatory changes that may emerge. Debt reduction in the range of $140 to $180 million. Adjusted Diluted EPS guidance includes adding back amortization related to the Company's intangible assets. Excludes all potential M&A activities. Tom Ferguson, President, and Chief Executive Officer of AZZ, said, "We are confident about AZZ's operating performance as we complete fiscal year 2025 and begin fiscal year 2026 in a few weeks. Our focus next fiscal year will be to drive sustainable, profitable organic growth, execute upon our robust M&A pipeline, and continue to generate strong free cash flow. FY2026 guidance includes an increase in our Metal Coatings EBITDA range to 27% to 32% and maintaining our Precoat Metals EBITDA range of 17% to 22%, on expectations of market share expansion and superior customer service, quality, and operational excellence." "We are focused on ramping up production of the new coil coating line in Washington, Missouri, which will attain normal run-rate performance in the second half of the year. Both Segments are focused on enhancing operational productivity while providing outstanding customer service and quality. AZZ is the leading independent hot-dip galvanizing and coil coating company in North America with irreplaceable footprints in our served markets. We generate industry-leading margins, returns and free cash flow. We have access to the capital necessary to sustain our operations, while actively pursuing initiatives to drive future growth and enhance shareholder value. We are excited about the opportunities ahead," Ferguson concluded. About AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life. Safe Harbor StatementCertain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as "may," "could," "should," "expects," "plans," "will," "might," "would," "projects," "currently," "intends," "outlook," "forecasts," "targets," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial, and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our products and solutions, including demand by the construction markets, the industrial markets, and the metal coatings markets. We could also experience additional increases in labor costs, components and raw materials including zinc and natural gas, which are used in our hot-dip galvanizing process; supply-chain vendor delays; customer requested delays of our products or solutions; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ's growth strategy; a downturn in market conditions in any industry relating to the products we inventory or sell or the solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as inflation or changes in the political stability in the United States and other foreign markets in which we operate; acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business, including in Part I, Item 1A. Risk Factors, in AZZ's Annual Report on Form 10-K for the fiscal year ended February 29, 2024, and other filings with the SEC, available for viewing on AZZ's website at and on the SEC's website at You are urged to consider these factors carefully when evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise. Non-GAAP Financial MeasuresInformation reconciling forward-looking Adjusted EBITDA from continuing operations and Adjusted Diluted Earnings from continuing operations to their respective most directly comparable GAAP financial measures, net income from continuing operations and diluted EPS, is unavailable to AZZ without unreasonable effort because management cannot predict with reasonable certainty all of the necessary components of GAAP net income from continuing operations (such as income taxes, interest expense, unusual or significant gains and losses, acquisition-related expenses, net gains or losses on investments in equity securities and potential future asset impairments). These items are uncertain, depend on various factors, and could have a material impact on net income from continuing operations and diluted EPS from continuing operations for the relevant periods. We therefore, do not present a guidance range for, or a reconciliation to, the nearest GAAP financial measures of net income from continuing operations or diluted EPS from continuing operations. Company Contact: David Nark, Senior Vice President of Marketing, Communications, and Investor RelationsAZZ Inc.(817) Investor Contact:Sandy Martin, Phillip KupperThree Part Advisors(214) View original content to download multimedia: SOURCE AZZ, Inc.
