Azz Inc Stock Price, News & Analysis

AZZ Inc. (NYSE: AZZ) has announced a third quarter cash dividend of $0.17 per share, payable on February 7, 2023 to shareholders of record as of January 30, 2023. The company’s CEO, Tom Ferguson, expressed optimism regarding business prospects and highlighted that the recent divestiture of a non-core segment has strengthened their financial position. AZZ aims to maintain regular quarterly cash dividends, with future payouts contingent on individual assessments by the Board of Directors. This announcement reflects the company’s confidence in generating robust cash flows as it progresses into fiscal year 2024.

AZZ Inc. reported third-quarter results for fiscal 2023, achieving sales of $373.3 million and a consolidated adjusted EPS of $0.88. Excluding discontinued operations, revenue showed strong growth in both segments, with Metal Coatings up 17.2% and Precoat Metals up 14.8%. The company raised its FY2023 adjusted EPS guidance to $4.05 - $4.25. Additionally, net leverage improved by 0.9x to 3.4x LTM EBITDA, attributed to strong operating cash flow and debt reduction of $230.3 million.

AZZ Inc. (NYSE: AZZ), a top provider of hot-dip galvanizing and coil coating solutions, will hold a conference call on January 10, 2023, to discuss its third quarter fiscal year 2023 financial results. The press release detailing the financial results will be issued after market closure on January 9, 2023. This conference call will be accessible via phone and will also be available as a webcast on the Company’s Investor Relations page.

AZZ Inc. (NYSE: AZZ) will present at the Sidoti Small Cap Virtual Investor Conference on December 7, 2022, at 12:15 p.m. ET. Philip Schlom, CFO, and David Nark, SVP of Marketing, will lead the presentation from Fort Worth, Texas. A webcast will be accessible on their Investor Relations page, with a replay available post-event. Management will also conduct virtual one-on-one meetings throughout the conference. AZZ is a top independent provider of hot-dip galvanizing and coil coating solutions in North America.

A ZZ Inc. will present at the 14th Annual Midwest IDEAS Conference on November 17, 2022, at 8:00 a.m. CT in Dallas, Texas. David Nark, Senior Vice President of Marketing, Communications and Investor Relations, will represent the company, known as a leading provider of hot-dip galvanizing and coil coating solutions in North America. A webcast will be available on the company's Investor Relations page, and one-on-one investor meetings can be arranged by contacting Lacey Wesley.

AZZ Inc. plans to build a new aluminum coil coating facility in Washington, Missouri, near St. Louis, expected to be operational by 2025. The facility will boost capacity by over 120 million pounds annually, with 75% of the volume already secured through long-term customer contracts. Projected sales of at least $60 million by 2026 are anticipated, supported by existing credit facilities and lease agreements. The development will create over 80 jobs and is a strategic move for AZZ's growth in the coatings market.

AZZ Inc. (NYSE: AZZ), the leading provider of hot-dip galvanizing and coil coating solutions, will present at the Baird 2022 Global Industrial Conference. The presentation is scheduled for November 9, 2022, at 2:55 p.m. CT in Chicago, IL. This conference runs from November 8-10, 2022, featuring over 250 companies across various sectors including industrial services and chemicals. Management will also hold one-on-one meetings for investors. For more information, contact Lytham Partners.

AZZ reported record sales of $406.7 million and an adjusted EPS of $1.24 for Q2 FY2023, marking a 63.2% increase year-over-year. Despite these gains, the company faced a net loss of $(58.6) million due to divesting its AIS JV. The Metal Coatings segment demonstrated strong performance with $165.8 million in sales, while the Precoat Metals segment achieved $240.9 million. AZZ is maintaining a positive outlook despite economic slowdown signs. Cash and cash equivalents stand at $14.3 million after a significant divestiture.

AZZ Inc. (NYSE: AZZ), a key player in hot-dip galvanizing and metal coating solutions, has announced a cash dividend of $0.17 per share, payable on November 1, 2022. Shareholders recorded by October 18, 2022 will receive the payout. The company emphasizes its commitment to regular dividends, although future payments will depend on operating results and financial conditions. AZZ provides essential corrosion protection services and coatings to various industries, reflecting its role in enhancing shareholder value.