Azz Inc Stock Price, News & Analysis

AZZ Inc. (NYSE: AZZ) has announced a cash dividend of $0.17 per share for the first quarter of fiscal year 2023. The dividend will be paid on August 2, 2022, to shareholders on record as of July 19, 2022. The company continues to prioritize enhancing shareholder value, with future dividends subject to Board approval based on various operational and financial factors. AZZ specializes in metal coating solutions, welding solutions, and specialty electrical equipment across numerous markets, ensuring a broad impact from its offerings.

AZZ Inc. (NYSE: AZZ), a provider of galvanizing and metal coating solutions, will conduct a conference call to discuss its first quarter fiscal year 2023 financial results on July 11, 2022, at 11:00 a.m. ET. A press release with the financial results will be issued before the market opens on the same day. Investors can access the call via phone or a webcast on the company’s Investor Relations page. The replay will be available until July 18, 2022. AZZ serves various markets including power generation and industrial sectors, focusing on corrosion protection and infrastructure solutions.

AZZ has entered a definitive agreement to divest a 60% stake in its Infrastructure Solutions Segment to Fernweh Group for an enterprise value of $300 million. The transaction, expected to close by the end of 2022, will yield approximately $228 million in cash for AZZ. This move supports AZZ's transformation into a focused metal coatings company, while also retaining a 40% interest in the joint venture, allowing participation in AIS's future growth. AIS generated around $375 million in sales for fiscal 2022, underscoring its strong market position.

AZZ Inc. (NYSE: AZZ), a leading provider of galvanizing and metal coating solutions, announced its participation in the East Coast IDEAS Virtual Investor Conference on June 23, 2022. David Nark, Senior Vice President, will present, with the webcast available at 6:00 a.m. ET on June 22, 2022. Investors can also arrange one-on-one meetings with management on June 23. AZZ specializes in solutions for critical infrastructure across power generation, transmission, and industrial markets, addressing the needs for corrosion protection and electrical equipment.

AZZ Inc. (NYSE: AZZ) announced its participation in the Sidoti & Company 2022 Summer Small Cap Virtual Investor Conference on June 15, 2022, at 1:45 p.m. ET. Senior Vice President, David Nark, will present key insights into the company’s galvanizing and metal coating solutions, along with its electrical equipment and engineered services. A live webcast will be accessible on the company's Investor Relations page, with a replay available later. Investors can also request one-on-one meetings during the conference.

AZZ Inc. has completed its acquisition of Precoat Metals, a division of Sequa Corporation, for approximately $1.28 billion. Precoat is a leading provider of metal coil coating solutions in North America, generating $700 million in sales and $137 million in adjusted EBITDA for the year ending December 31, 2021. This acquisition strengthens AZZ's position in the coatings market, expected to drive growth and profitability as they integrate Precoat into their operations. The move aligns with AZZ's strategy to expand their metal coatings offering and enhance operational scale.

AZZ Inc. (NYSE: AZZ), based in FORT WORTH, Texas, is set to present at the Oppenheimer 17th Annual Industrial Growth Conference on May 4, 2022, at 10:30 AM ET. David Nark, Senior Vice President of Marketing, Communications, and Investor Relations, will lead the presentation. Virtual one-on-one meetings will also be held the same day. AZZ provides various solutions, including metal coating, welding, and specialty electrical equipment, primarily serving power generation, transmission, and industrial sectors.

AZZ Inc. announced on April 25, 2022, its plan to launch a $1.3 billion First Lien Senior Term Loan, known as the 2022 Term Loan B, to refinance existing debt and facilitate the acquisition of Sequa's Precoat Metals division for $1.28 billion. The financial strategy includes a $400 million Revolving Credit Facility and a proposed $240 million investment from Blackstone, contingent on the acquisition's closure. The financing aims to optimize the Company’s debt structure while supporting its growth in galvanizing and metal coating solutions.

AZZ Inc. (NYSE: AZZ) reported its Fiscal Year 2022 results, achieving 35 consecutive years of profitability. The company earned diluted EPS of $3.35, with net income at $84 million and sales of $902.7 million, up 7.6% year-over-year. The Metal Coatings segment saw a 13.4% sales increase to $519 million, with adjusted operating income rising by 19.3%. The Infrastructure Solutions segment reported modest sales growth of 0.7%. Upcoming acquisition of Precoat Metals is expected to bolster future performance. Cash from operations decreased by 6.5% to $86 million.