AZZ INC

Listed Company

AZZCIK 0000008947NYSELarge AcceleratedCoating, Engraving & Allied ServicesTexasFY ends Feb 28

Period

FY 2026

Revenue

$1.65B

Net Income

$317.26M

Total Assets

$2.21B

Equity

$1.34B

Shares Out

29.88M

Op. Cash Flow

$525.45M

Business

AZZ INC is a provider of metal coating solutions, specializing in post-fabrication hot-dip galvanizing and coil coating services. It offers hot-dip and spin galvanizing, powder coating, anodizing, plating, coil coating and related value-added downstream processing, and holds a 40% interest in AVAIL JV providing switchgear, electrical enclosures, bus ducts, industrial lighting and automated weld overlay solutions. The company operates through three segments: AZZ Metal Coatings, AZZ Precoat Metals and AZZ Infrastructure Solutions. Its services primarily serve North American construction, appliance, HVAC, container, transportation, transmission and general industrial markets, with certain AVAIL offerings supporting global infrastructure customers.

Summary from filing dated 2025-04-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-02-28	FY 2025 2025-02-28	FY 2024 2024-02-29	FY 2023 2023-02-28	FY 2022 2022-02-28
Sales	1,650	1,578	1,538	1,324	526
Cost of sales	1,255	1,195	1,174	1,028	379
Gross margin	395	383	363	296	146
Selling, general and administrative	130	146	142	122	67
Operating income	265	236	222	174	79
Interest expense, net	−56	−81	−107	−89	−6
Equity in earnings of unconsolidated subsidiaries	210	16	15	3	0
Other income (expense), net	2	−562,000	161,000	1	175,000
Income before income taxes	420	171	130	89	73
Income tax expense	103	42	28	22	23
Net income	317	129	102	−53	84
Series A Preferred Stock Dividends	0	−1	−14	−8	0
Redemption premium on Series A Preferred Stock	0	−75	0	0	—
Net income available to common shareholders	317	52	87	−61	84
Basic earnings per common share (usd per share)	10.59	1.8	3.48	−2.47	3.38
Diluted earnings per common share (usd per share)	10.5	1.79	3.46	−2.45	3.35
Weighted average number common shares, basic (shares)	30	29	25	25	25
Weighted average number common shares, diluted (shares)	30	29	25	25	25
Cash dividends declared per common share (usd per share)	0.77	0.68	0.68	0.68	0.68

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-02-28	FY 2025 2025-02-28	FY 2024 2024-02-29	FY 2023 2023-02-28	FY 2022 2022-02-28
Cash and cash equivalents	705,000	1	4	3	12
Trade accounts receivable, net of allowance for credit losses of $144 and $419 at February 28, 2026 and February 28, 2025, respectively	143	135	142	156	85
Other receivables	19	13	16	27	—
Inventories	113	112	118	144	—
Contract assets	113	107	79	79	3
Prepaid expenses and other	7	7	8	8	2
Total current assets	395	375	367	417	387
Property, plant and equipment, net	609	593	542	499	193
Right-of-use assets	60	26	24	26	—
Goodwill	715	704	705	703	190
Deferred tax assets	1	4	6	12	3
Intangible assets, net	410	422	445	469	39
Other assets	3	4	8	10	—
Total assets	2,213	2,227	2,196	2,221	1,133
Accounts payable	115	106	88	84	25
Income taxes payable	387,000	602,000	172,000	272,000	4
Accrued salaries and wages	34	38	31	26	17
Other accrued liabilities	75	68	69	70	13
Lease liability, short-term	9	8	7	6	3
Total current liabilities	232	221	194	187	151
Long-term debt, net	478	852	953	1,058	226
Lease liability, long-term	52	19	18	21	11
Deferred tax liabilities	74	43	39	41	48
Other long-term liabilities	41	46	58	61	5
Total liabilities	876	1,182	1,261	1,368	466
Commitments and contingencies (Note 22)	—	—	—	—	—
Common stock, $1 par value; 100,000 shares authorized; 29,880 and 29,913 shares issued and outstanding at February 28, 2026 and February 28, 2025, respectively	30	30	25	25	25
Capital in excess of par value	431	418	103	93	86
Retained earnings	884	609	576	506	584
Accumulated other comprehensive loss	−8	−12	−4	−5	−27
Total shareholders' equity	1,337	1,045	701	620	667
Total liabilities and shareholders' equity	2,213	2,227	2,196	2,221	1,133

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-02-28	FY 2025 2025-02-28	FY 2024 2024-02-29	FY 2023 2023-02-28	FY 2022 2022-02-28
Net income	317	129	102	—	—
Bad debt expense (recovery)	−78,000	5	−67,000	−58,000	100,000
Depreciation and amortization	90	82	79	75	32
Deferred income taxes	33	8	5	7	3
Equity in earnings of unconsolidated entities	−210	−16	−15	−3	0
Distribution on investment in AVAIL joint venture	273	13	3	0	0
Restructuring charges	4	0	0	—	0
Net gain on sale of property, plant and equipment	−4	−368,000	61,000	−1	666,000
Amortization of debt financing costs	13	13	12	11	455,000
Share-based compensation expense	15	13	10	8	9
Changes in current assets and current liabilities	597,000	17	54	−67	−32
Changes in other long-term assets and long-term liabilities	−6	−13	−5	−6	−3
Net cash provided by operating activities	525	250	244	—	86
Purchase of property, plant and equipment	−81	−116	−95	−57	−24
Acquisition of subsidiaries, net of cash acquired	−30	0	0	−1,283	−61
Proceeds from sale of property, plant and equipment	6	886,000	55,000	4	3
Proceeds from return of investment on the AVAIL JV	14	0	0	—	—
Net cash used in investing activities	−91	−115	−95	—	−87
Proceeds from issuance of common stock	4	311	2	2	3
Redemption of Series A Preferred Stock	0	−309	0	0	—
Tax payments related to common stock issued under stock-based plans	−5	−5	−2	−3	−2
Payments on Revolving Credit Facility	−706	−326	−314	−362	−248
Payments on Securitization Loan Debt	20	0	0	—	—
Payments of debt financing costs	−2	−2	−2	−420	0
Payments on long-term debt and finance leases	538	111	50	—	—
Repurchase and retirement of treasury stock	−20	0	0	0	−31
Payments of dividends	−23	−23	−31	−23	−17
Net cash used in financing activities	−434	−139	−148	—	912,000
Effect of exchange rate changes on cash	−625,000	922,000	13,000	505,000	158,000
Net increase (decrease) in cash and cash equivalents	−783,000	−3	2	−12	245,000

Filings

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