STOCK TITAN

AZZ Inc. - $AZZ STOCK NEWS

Welcome to our dedicated page for AZZ news (Ticker: $AZZ), a resource for investors and traders seeking the latest updates and insights on AZZ stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect AZZ's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of AZZ's position in the market.

Rhea-AI Summary

AZZ Inc. announced its participation in the Oppenheimer 19th Annual Industrial Growth Conference and B. Riley Financial 24th Annual Institutional Investor Conference in May 2024. David Nark, Senior Vice President, Marketing, Communications, and Investor Relations will represent the company. The Oppenheimer conference will be held from May 6-9, 2024, while the B. Riley conference will take place on May 22-23, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
conferences
-
Rhea-AI Summary

AZZ Inc. announced the closing of a public offering of 4.6 million shares of common stock, generating gross proceeds of $322 million. The offering included the full exercise of the underwriters' option to buy an additional 600,000 shares. The net proceeds will be used to redeem the Company's 6.0% Series A Convertible Preferred Stock.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.85%
Tags
-
Rhea-AI Summary
AZZ Inc. announces the pricing of its public offering of 4,000,000 shares of common stock at $70.00 per share, totaling $280,000,000 in gross proceeds. The offering grants the underwriters an option to purchase an additional 15% of the shares. The proceeds will be used for redeeming preferred stock and general corporate purposes. The offering is set to close on April 30, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.39%
Tags
Rhea-AI Summary
AZZ Inc. (NYSE: AZZ) announces a proposed public offering of 4.0 million shares of common stock, with an option for additional shares. The company plans to use the proceeds to redeem its 6.0% Series A Convertible Preferred Stock. The offering is subject to market conditions and underwritten by Evercore ISI, Jefferies, Baird, Wells Fargo Securities, Wolfe | Nomura Alliance, and Roth Capital Partners.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-11.15%
Tags
-
Rhea-AI Summary
AZZ Inc. achieved record full-year sales, profitability, and cash flow in fiscal year 2024. Total sales reached $1,537.6 million, up 16.2% from the previous year. Metal Coatings sales were $656.2 million, up 3.0%, and Precoat Metals sales were $881.4 million, up 28.4%. Diluted EPS increased by 48.5% to $3.46, and adjusted EPS rose by 34.8% to $4.53. Net income surged by 53.2% to $101.6 million, with adjusted net income up by 39.5% to $132.8 million. Adjusted EBITDA reached $333.6 million, representing 21.7% of sales. Cash from operations rose to $244.5 million, while debt decreased by $115.0 million, resulting in a net leverage of 2.9x. In the fourth quarter of 2024, total sales were $366.5 million, up 8.9% year-over-year, with notable growth in both Metal Coatings and Precoat Metals segments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.27%
Tags
-
Rhea-AI Summary
AZZ Inc. announced an upward revision in financial guidance for fiscal year 2025, with sales projected at $1.525 - $1.625 billion, Adjusted EBITDA at $310 - $360 million, and Adjusted Diluted EPS at $4.50 - $5.00. The guidance excludes future acquisitions and includes equity income from minority interest in a subsidiary. CEO Tom Ferguson expressed confidence in the company's performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.21%
Tags
Rhea-AI Summary
AZZ Inc. to Review Q4 and Fiscal Year 2024 Financial Results in Conference Call
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.33%
Tags
-
Rhea-AI Summary
AZZ Inc. (NYSE: AZZ) declares a fourth-quarter cash dividend of $0.17 per share, payable on May 2, 2024. The company plans to continue regular quarterly dividends, subject to Board discretion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.33%
Tags
dividends earnings
-
News
Rhea-AI Summary
AZZ Inc. announced the retirement of Chief Financial Officer Mr. Philip Schlom, to be succeeded by Mr. Jason Crawford. Mr. Schlom's retirement is set for November 4, 2024, with Mr. Crawford transitioning into the CFO role. The CEO praised Mr. Schlom's contributions to the company and expressed confidence in Mr. Crawford's abilities, highlighting his extensive experience in finance and mergers and acquisitions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.88%
Tags
none
Rhea-AI Summary
AZZ Inc. successfully reprices its existing $980 million Term Loan B, reducing the interest rate margin by 50 basis points to SOFR + 325 basis points, resulting in annual interest savings of approximately $5 million. This marks the second repricing, leading to total interest rate margin savings of 100 basis points since May 2022. The company aims to lower its net debt to EBITDA leverage ratio to 3.0 times or lower by the end of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.64%
Tags
none
AZZ Inc.

NYSE:AZZ

AZZ Rankings

AZZ Stock Data

2.27B
24.44M
2.43%
91.55%
1.43%
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Wholesale Trade
Link
United States of America
FORT WORTH

About AZZ

welcome to the official linked in page of azz incorporated. azz is a specialty electrical equipment manufacturer and provider of highly engineered services to the global power generation, industrial, transmission and distribution markets, as well as a leading provider of hot dip galvanizing services to the north american steel fabrication market. we offer products through two distinct business segments; the energy segment and the galvanizing segment. within the energy segment, our product portfolio includes custom switchgear, electrical enclosures, medium and high voltage ducts, hazardous and specialty lighting, and tubular products. we are also a leading third party supplier of safety related equipment to the nuclear industry, as well as a leading specialty repair and overhaul solution provider to industrial and utility markets worldwide. our galvanizing services segment provides hot dip galvanizing to the steel fabrication industry through our extensive network of thirty-six faciliti