On October 9, 2024, AZZ Inc (AZZ, Financial) released its 8-K filing for the fiscal year 2025 second quarter, showcasing a robust financial performance. AZZ Inc, a leading provider of galvanizing and metal coating solutions in North America, reported a 2.6% increase in total sales, reaching $409.0 million, slightly below the analyst estimate of $411.80 million. However, the company's earnings per share (EPS) of $1.18 exceeded the estimated $1.12, reflecting a 21.6% increase from the previous year.Company Ov ...

Sales and Margin Expansion Drives Quarterly Results; Narrowing and Raising Fiscal Year 2025 Financial Guidance FORT WORTH, Texas, Oct. 9, 2024 /PRNewswire/ --- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced financial results for the second quarter ended August 31, 2024. Fiscal Year 2025 Second Quarter Overview (as compared to prior year(1)):Total Sales $409.0 million, up 2.6%Metal Coatings sales of $171.5 million, up 1.0%Precoat Meta ...

Financial Performance - Total sales for Q2 FY2025 reached $409.0 million, an increase of 2.6% compared to the prior year[1] - Net income for the quarter was $35.4 million, up 25.0%, with adjusted net income at $41.3 million, up 11.0%[1] - Adjusted EBITDA for Q2 was $91.9 million, representing 22.5% of sales, compared to 22.1% in the prior year[1] - Precoat Metals segment sales increased to $237.5 million, up 3.8%, with an adjusted EBITDA margin of 21.1%[6] - Adjusted EBITDA for the three months ended August 31, 2024, was $106,004 thousand, up 7.1% from $98,885 thousand in the prior year[18] - Net income for the three months ended August 31, 2024, was $35,419 thousand, translating to an adjusted earnings per share of $1.18, compared to $28,332 thousand and $0.97 in the same period last year[27] - Adjusted EBITDA for the six months ended August 31, 2024, was $185,956 thousand, an increase from $173,374 thousand in the prior year[28] - For the three months ended August 31, 2023, net income totaled $28,332, with the Infrastructure Solutions segment reporting a loss of $4,958[32] - Adjusted EBITDA for the three months ended August 31, 2023, was $87,972, compared to $51,647 in the prior year[32] - The total net income for the six months ended August 31, 2023, was $56,854, with a Corporate segment loss of $106,823[33] Segment Performance - Metal Coatings segment sales were $171.5 million, up 1.0%, with an adjusted EBITDA margin of 31.7%[5] Debt and Leverage - The company reduced debt by $20.0 million in the quarter, totaling $45 million year-to-date, resulting in a net leverage ratio of 2.7x[1] - Long-term debt decreased to $912,572 thousand as of August 31, 2024, from $952,742 thousand as of February 29, 2024[19] - The company reported gross debt of $965,250 as of August 31, 2024, down from $1,010,250 in the previous period[35] - Consolidated indebtedness was $956,485, a decrease from $988,917[35] - The net leverage ratio improved to 2.7x from 2.9x in the previous period[35] Cash Flow and Investments - Cash provided by operating activities for the six months ended August 31, 2024, was $119,430 thousand, slightly up from $118,341 thousand in the same period last year[21] - The company reported a net cash used in investing activities of $(58,740) thousand for the six months ended August 31, 2024, compared to $(42,706) thousand in the same period last year[21] Capital Expenditures - Capital expenditures for Q2 amounted to $32.1 million, including $19.4 million for a new facility in Washington, Missouri[3] Guidance and Dividends - Revised FY2025 guidance estimates sales between $1.525 billion and $1.625 billion, with adjusted EBITDA of $320 million to $360 million[9] - Adjusted diluted EPS guidance for FY2025 is projected to be between $4.70 and $5.10[9] - The company declared a cash dividend of $0.17 per share to common shareholders[1] Asset Growth - Current assets increased to $401,156 thousand as of August 31, 2024, from $366,999 thousand as of February 29, 2024[19] - Total assets grew to $2,240,330 thousand as of August 31, 2024, compared to $2,195,505 thousand as of February 29, 2024[19] Transparency and Reporting - The company is focused on enhancing transparency through non-GAAP measures such as adjusted net income and adjusted EBITDA to provide a clearer picture of financial performance[23] Depreciation and Interest - Depreciation and amortization expenses for the six months ended August 31, 2024, totaled $40,750[31] - Interest expense for the six months ended August 31, 2024, was $44,683, consistent with the previous period[31]

FORT WORTH, Texas, Oct. 3, 2024 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced its Board of Directors has authorized a second quarter cash dividend in the amount of $0.17 per share on the Company's outstanding shares of common stock. The dividend is payable on November 1, 2024, to shareholders of record as of the close of business on October 18, 2024. While AZZ currently intends to pay regular quarterly cash dividends ...

AZZ (AZZ) closed the most recent trading day at $82.61, moving +0.39% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.Heading into today, shares of the electrical equipment maker had lost 1.06% over the past month, lagging the Industrial Products sector's gain of 6.17% and the S&P 500's gain of 2.06% in that time.The upcoming earnings release of AZZ will be of great interest to i ...

AZZ (AZZ) closed at $82.01 in the latest trading session, marking a +0.94% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.56%.Prior to today's trading, shares of the electrical equipment maker had lost 1.71% over the past month. This has lagged the Industrial Products sector's gain of 3.56% and the S&P 500's gain of 1.65% in that time.Market participants will be closely following the fi ...

FORT WORTH, Texas, Sept. 24, 2024 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions in North America, today announced the successful repricing of its existing $890 million Term Loan B which matures May 13, 2029. The repricing reduced the interest rate margin on the Term Loan B by an additional 75 basis points to SOFR + 250 basis points with no change to leverage, covenants, or maturity date. Assuming the same level of indebtedness of $89 ...

FORT WORTH, Texas, Sept. 23, 2024 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced it will conduct a conference call to review the financial results for the second quarter fiscal year 2025 at 11:00 a.m. ET on Thursday, October 10, 2024. The Company will issue a press release reporting second quarter financial results after the market closes on October 9, 2024.Conference Call Details Interested parties can access the con ...

The latest trading session saw AZZ (AZZ) ending at $74.55, denoting a +1.58% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 1.07%. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 2.17%.Shares of the electrical equipment maker have depreciated by 2.2% over the course of the past month, underperforming the Industrial Products sector's gain of 0.75% and the S&P 500's gain of 2.92%.The upcoming earnings re ...

FORT WORTH, Texas, Sept. 10, 2024 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions in North America, today announced that David Nark, Senior Vice President of Marketing, Communications, and Investor Relations will participate in the Sidoti Small Cap and Noble Capital Markets' Basic Industries virtual equity conferences in September 2024.The Sidoti Small Cap Conference will be a virtual only event on September 18-19, 2024, and AZZ will h ...