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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.

AZZ Inc. (NYSE: AZZ) is a prominent provider of specialty electrical equipment and services to global power generation, industrial, transmission, and distribution markets. The company also leads in hot-dip galvanizing services for the North American steel fabrication industry. AZZ operates through two primary business segments: the Energy segment and the Galvanizing segment.

Within the Energy segment, AZZ offers a diverse product portfolio, including custom switchgear, electrical enclosures, medium and high voltage ducts, hazardous and specialty lighting, and tubular products. The company is also a leading third-party supplier of safety-related equipment to the nuclear industry and provides specialized repair and overhaul solutions to industrial and utility markets worldwide.

The Galvanizing segment provides metal coating solutions to protect against corrosion. These services include hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating. The Precoat Metals segment offers aesthetic and corrosion-resistant coatings for steel and aluminum coils, further cementing AZZ's position as a comprehensive metal coatings provider.

Recently, AZZ announced the successful repricing of its $980 million Term Loan B, reducing the interest rate margin and resulting in significant annual interest savings. This financial maneuver is part of AZZ's disciplined approach to lowering its net debt to EBITDA leverage ratio, with a target of 3.0 times or lower by 2024.

The company also announced the retirement of its CFO, Philip Schlom, and the appointment of Jason Crawford as the new CFO. Under Schlom's tenure, AZZ strengthened its financial and compliance functions, contributing to the company's strategic transformation. Crawford brings over 20 years of experience in finance and has a proven track record in mergers and acquisitions.

Additionally, AZZ declared a fourth-quarter cash dividend, reflecting its commitment to enhancing shareholder value. The company continues to focus on organic growth, particularly within its Metal Coatings and Precoat Metals segments, aiming to grow market share and maintain superior customer service and operational excellence.

AZZ is also committed to sustainability, providing unmatched metal coating solutions that enhance the longevity and appearance of buildings, products, and infrastructure essential to everyday life.

For those interested, AZZ will conduct a conference call to review its financial results for the fourth quarter and fiscal year 2024. Investors can access the call via the company's Investor Relations page or through specified phone numbers.

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AZZ Inc. (NYSE: AZZ) will hold a conference call on January 11, 2021, at 11:00 a.m. ET to discuss its third-quarter fiscal year 2021 financial results, which will be released before market open on the same day. AZZ is known for its metal coating services, welding solutions, and specialty electrical equipment for the power generation and industrial markets. The company highlighted its commitment to safety and reliability in energy transmission. Investors can access the call via phone or webcast.

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AZZ Inc. (NYSE:AZZ) announced strategic initiatives to enhance shareholder value, including a comprehensive Board-led review of its portfolio and capital allocation. The company has engaged independent financial, legal, and tax advisors to support this review. AZZ aims to become a focused metal coatings company and has repurchased over 500,000 shares, with a new stock repurchase program authorized at $100 million. CEO Tom Ferguson highlighted recent divestitures and the ongoing evaluation of Infrastructure Solutions businesses as critical steps in maximizing shareholder value.

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AZZ Inc. (NYSE: AZZ) announced the appointment of Philip A. Schlom as Senior Vice President and Chief Financial Officer, effective immediately. Schlom has been serving as Interim CFO since May 2020 and brings over 25 years of financial expertise, having previously held roles at Exterran Corporation and Parker Drilling Company. CEO Tom Ferguson expressed confidence in Schlom's abilities to enhance financial management and support strategic growth.

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AZZ Inc. (NYSE:AZZ) has successfully divested its AZZ SMS LLC business unit to Mid-State Machine and Fabricating Corporation. This transaction includes a 26,155 square foot facility in St. Petersburg, Florida. While the terms remain undisclosed, AZZ expects a nominal revenue impact of approximately $35 million from this divestiture, which aligns with its strategic focus on core business growth. CEO Tom Ferguson stated the deal is part of AZZ's restructuring efforts to enhance returns on invested capital and improve long-term margins.

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AZZ reported second-quarter fiscal 2021 results, showing adjusted EPS of $0.49 and net income of $13 million, despite a reported loss of $1.8 million. Sales reached $203.4 million, down 13.9% year-over-year. The Metal Coatings segment held steady with sales of $117 million, while Infrastructure Solutions faced a 22.5% drop in sales to $86.3 million. The company completed refinancing of $150 million in notes, expecting $2.5 million annual interest savings. Guidance remains suspended due to ongoing COVID-19 impacts.

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AZZ Inc. (NYSE: AZZ) has announced the promotion of Gary Hill to Chief Operating Officer of Infrastructure Solutions, as part of a strategic focus shift from its Energy Segment. Hill, who joined AZZ in 2013 and previously led the Industrial platform, aims to enhance the Infrastructure Solutions segment through consolidation of Electrical Systems and Industrial operations. This change follows the earlier appointment of Bryan Stovall as COO of the Metal Coatings segment. The company continues to provide metal coating and electrical solutions for critical infrastructure.

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AZZ Inc. (NYSE: AZZ), a global provider of metal coating services, has announced a quarterly cash dividend of $0.17 per share. This dividend is set for payment on November 04, 2020, to shareholders recorded by October 21, 2020. The company expresses its commitment to maintain regular dividends based on its financial condition and operating results. AZZ operates within the power generation and industrial markets, providing metal coatings and welding solutions.

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AZZ Inc. (NYSE: AZZ) will hold a conference call at 11:00 a.m. ET on October 13, 2020, to discuss its second quarter fiscal year 2021 financial results. A press release will be issued before the market opens on the same day. The call can be accessed by dialing (844) 855-9499 or (412) 317-5497 internationally. Interested parties can also join via the webcast on the Company's Investor Relations page. AZZ specializes in metal coating services and solutions for the power generation and industrial markets.

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AZZ Inc. (NYSE: AZZ), a global provider of metal coating services and engineering solutions, announced its participation in Sidoti's Fall 2020 Investor Conference. CEO Tom Ferguson, Interim CFO Philip Schlom, and Senior VP David Nark will present on September 23, 2020, at 1:00 p.m. ET via a virtual platform. A webcast will be available on the company's Investor Relations page, with a replay accessible after the event. Additionally, institutional investors can schedule one-on-one meetings on September 24, 2020.

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AZZ Inc. (NYSE: AZZ), a leader in metal coating and engineering solutions, announced its participation at CL King's 18th Annual Best Ideas 2020 Conference on September 16, 2020, at 2:45 p.m. ET. The presentation will be led by CEO Tom Ferguson, Interim CFO Philip Schlom, and SVP David Nark, and will be available via webcast on the Company’s Investor Relations page. Additionally, management will hold one-on-one meetings with institutional investors throughout the day. Investors interested in meetings can contact Lytham Partners.

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FAQ

What is the current stock price of AZZ (AZZ)?

The current stock price of AZZ (AZZ) is $84.58 as of November 8, 2024.

What is the market cap of AZZ (AZZ)?

The market cap of AZZ (AZZ) is approximately 2.5B.

What does AZZ Inc. specialize in?

AZZ Inc. specializes in specialty electrical equipment, engineered services for power generation, and hot-dip galvanizing services.

What are the primary business segments of AZZ Inc.?

The primary business segments of AZZ are the Energy segment and the Galvanizing segment.

What recent financial achievement has AZZ Inc. accomplished?

AZZ recently repriced its $980 million Term Loan B, reducing the interest rate margin and resulting in significant annual interest savings.

Who will be the new CFO of AZZ Inc.?

Jason Crawford will be the new CFO of AZZ Inc., succeeding Philip Schlom.

What services are included in AZZ's Galvanizing segment?

The Galvanizing segment includes hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating services.

What is AZZ's approach to enhancing shareholder value?

AZZ is committed to regular quarterly cash dividends and strategic financial management to enhance shareholder value.

What are the core products in AZZ's Energy segment?

Core products in the Energy segment include custom switchgear, electrical enclosures, medium and high voltage ducts, hazardous and specialty lighting, and tubular products.

How is AZZ contributing to sustainability?

AZZ provides sustainable metal coating solutions that enhance the longevity and appearance of buildings, products, and infrastructure.

When is AZZ's next conference call to discuss financial results?

AZZ will conduct a conference call to review its financial results for the fourth quarter and fiscal year 2024 on April 22, 2024.

What is the focus of AZZ's growth strategy for 2025?

AZZ's growth strategy for 2025 focuses on organic growth within its Metal Coatings and Precoat Metals segments, aiming to grow market share and maintain superior customer service and operational excellence.

AZZ Inc.

NYSE:AZZ

AZZ Rankings

AZZ Stock Data

2.54B
29.88M
2.02%
93.12%
1.78%
Specialty Business Services
Coating, Engraving & Allied Services
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United States of America
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