Sales Performance - Consolidated sales for the quarter ended November 30, 2022, increased by $238.2 million, or 176.3%, compared to the same quarter in 2021, reaching a total of $373.3 million[119]. - Sales for the AZZ Metal Coatings segment increased by $23.2 million, or 17.2%, primarily due to improved price realization and an increase in the volume of galvanized steel[119]. - The AZZ Precoat Metals segment, acquired on May 13, 2022, generated sales of $215.0 million for the current quarter[120]. - Total sales for the nine months ended November 30, 2022, increased by $591.4 million, or 149.4%, to $987.1 million compared to the prior year[131]. - Sales for the AZZ Metal Coatings segment increased by $91.8 million, or 23.2%, primarily due to improved price realization and increased volume of steel processed[131]. - Sales for the AZZ Infrastructure Solutions segment decreased by $54.4 million, or 56.2%, due to its divestiture on September 30, 2022, resulting in only one month of sales included for the current quarter[125]. - Sales for the AZZ Infrastructure Solutions segment decreased by $26.1 million, or 9.2%, due to the divestiture of the segment[138]. Operating Income - Operating income for the AZZ Metal Coatings segment increased by $0.4 million, or 1.3%, to $33.5 million for the current quarter[121]. - Operating income for the AZZ Precoat Metals segment was $21.1 million for the current quarter[122]. - Operating income for the AZZ Metal Coatings segment increased by $26.7 million, or 27.5%, for the current nine-month period[133]. - The loss on disposal of discontinued operations was approximately $159.9 million, significantly impacting operating income[139]. Interest and Tax Expenses - Interest expense for the current quarter rose to $26.1 million, an increase of $24.5 million compared to $1.6 million in the prior year quarter, due to additional debt from the Precoat Acquisition[123]. - Interest expense for the current nine-month period increased by $56.7 million to $61.7 million, primarily due to additional debt from the Precoat Acquisition[135]. - The effective tax rate for continuing operations decreased to 11.7% for the current quarter, down from 33.6% in the prior year quarter[124]. - The effective tax rate from continuing operations decreased to 23.8% from 32.5% in the prior year[136]. - The tax impact from adjustments was $(6,877) million for the three months ended November 30, 2022[172]. Cash Flow and Investments - Net cash provided by operating activities of continuing operations was $68.6 million, compared to $45.9 million for the prior year[142]. - Net cash used in investing activities of continuing operations was $1.2 billion, significantly higher than $13.4 million for the prior year, attributed to the Precoat Acquisition[143]. - Net cash provided by financing activities of continuing operations was $1.0 billion, compared to net cash used of $29.2 million for the prior year[143]. Acquisitions and Debt - The Company completed the acquisition of Precoat Metals for approximately $1.3 billion, enhancing its focus on metal coatings[111]. - The Company replaced the 2021 Credit Agreement with a new 2022 Credit Agreement, which includes a senior secured initial term loan of $1.1 billion and a revolving credit facility of $400 million[146]. - The effective interest rate for the 2022 Credit Facility and Term Loan B was 8.53% as of November 30, 2022[147]. - The Company issued $240 million of 6.00% convertible subordinated notes due June 30, 2030, which were exchanged for 240,000 shares of Series A Convertible Preferred Stock[148]. - The proceeds from the Convertible Notes were used to fund the Precoat Acquisition[149]. - As of November 30, 2022, the Company had $1.1 billion of outstanding notes and was in compliance with all covenants related to these borrowings[150]. - The Company has approximately $373.3 million of additional credit available for future draws or letters of credit as of November 30, 2022[150]. Joint Ventures and Losses - The Company completed a joint venture with Fernweh Group, selling a 60% interest in the AZZ Infrastructure Solutions segment for an implied enterprise value of $300 million, receiving approximately $108 million in proceeds[153]. - The Company recognized a non-cash loss on disposal of approximately $45.0 million related to the sale of the AZZ Infrastructure Solutions segment[126]. - The company incurred a loss on disposal of discontinued operations of $45,010 million for the three months ended November 30, 2022[173]. - The Company recorded a loss on the sale of the AIS segment, determined by comparing the fair value of the consideration received and the net assets of the AIS JV[162]. Earnings and Adjustments - Net income available to common shareholders was $(24,142) million, resulting in a diluted earnings per share of $(0.97) for the three months ended November 30, 2022[171]. - Adjusted EBITDA for the three months ended November 30, 2022, was $71,184 million, compared to $39,817 million for the same period in 2021[173]. - Total adjustments for the three months ended November 30, 2022, amounted to $46,119 million, leading to an adjusted earnings per share of $0.88[172]. - Non-GAAP EBITDA for the nine months ended November 30, 2022, was $63,274 million, down from $119,192 million for the same period in 2021[173]. - The company reported additional depreciation and amortization related to acquisitions of $7,986 million for the three months ended November 30, 2022[172]. - The company’s net income from continuing operations for the three months ended November 30, 2022, was $18,439 million[174]. Market Risks - The Company has exposure to commodity price increases, particularly in zinc and natural gas, and attempts to minimize these through fixed cost contracts[155]. - There were no material changes to the company's market risk disclosures during the nine months ended November 30, 2022[176].

AZZ Inc. (NYSE:AZZ) Q2 2023 Earnings Conference Call October 11, 2022 11:00 AM ET Company Participants Joe Dorame - Managing Partner, Lytham Partners Tom Ferguson - Chief Executive Officer Philip Schlom - Chief Financial Officer David Nark - Senior Vice President, Marketing, Communications and Investor Relations Conference Call Participants John Franzreb - Sidoti & Company Noelle Dilts - Stifel John Braatz - Kansas City Capital Brett Kearney - Gabelli Funds Bill Baldwin - Baldwin Anthony Securities Trip Rod ...

AZZ Inc. (NYSE:AZZ) Q1 2023 Earnings Conference Call July 11, 2022 11:00 AM ET Company Participants Joe Dorame - Lytham Partners Tom Ferguson - Chief Executive Officer Philip Schlom - Chief Financial Officer David Nark - Senior Vice President, Marketing, Communications & IR Conference Call Participants John Franzreb - Sidoti & Company Noelle Dilts - Stifel John Braatz - Kansas City Capital Josh Taykowski - Credit Suisse Brett Kearney - Gabelli Funds Operator Good morning, and welcome to the AZZ Inc. First Q ...

AZZ Inc. (NYSE:AZZ) Q4 2022 Earnings Conference Call April 22, 2022 11:00 AM ET Company Representatives Tom Ferguson - Chief Executive Officer Philip Schlom - Chief Financial Officer David Nark - Senior Vice President, Marketing, Communications & IR Joe Dorame - Lytham Partners Conference Call Participants John Franzreb - Sidoti & Company Noelle Dilts - Stifel John Braatz - Kansas City Capital Brett Kearney - Gabelli Fund DeForest Hinman - Walthausen &Co Bill Baldwin - Baldwin Anthony Securities Operator Go ...