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.
AZZ Inc. (NYSE: AZZ) announced a third-quarter cash dividend of $0.17 per share, payable on February 8, 2022, to shareholders on record by January 25, 2022. The company is committed to enhancing shareholder value, with dividends reviewed individually. AZZ provides metal coating solutions, welding solutions, and specialty electrical equipment for various markets, including power generation and industrial sectors. The company remains focused on operational results and financial conditions while acknowledging potential risks from market fluctuations and the ongoing COVID-19 pandemic.
AZZ Inc. reported its third-quarter fiscal 2022 results, showing a 2.3% year-over-year sales growth to $231.7 million. Net income reached $21.1 million, or $0.85 per diluted share, reflecting an 11.8% increase in diluted EPS. The Metal Coatings segment thrived, with sales of $133.4 million, up 15.4%. However, the Infrastructure Solutions segment faced challenges, reporting a 11.4% sales decline to $98.4 million. AZZ reaffirmed its annual sales guidance between $865 million and $925 million.
AZZ Inc. (NYSE: AZZ) has announced the acquisition of Steel Creek Galvanizing Company, located in Blacksburg, South Carolina. The deal aims to enhance AZZ's galvanizing capabilities in the Southeast, increasing its total operations to 40 galvanizing plants across North America. The new facility features one of the largest galvanizing kettles in the U.S., supporting large steel structures for critical infrastructure. AZZ anticipates the acquisition will be accretive to earnings within the first year, strengthening its market position and expanding its customer service footprint.
AZZ Inc. (NYSE: AZZ), a leader in galvanizing and metal coating solutions, will hold a conference call to discuss its third-quarter fiscal year 2022 financial results on January 10, 2022, at 11:00 a.m. ET. The press release detailing the financial results will be issued before the market opens on the same day. AZZ serves diverse markets including power generation and industrial sectors, providing vital infrastructure solutions.
AZZ Inc. (NYSE: AZZ), a leader in galvanizing and metal coating solutions, announced its participation in the Southwest IDEAS Investor Conference on November 17, 2021, at 4:45 p.m. ET. CFO Philip Schlom and SVP David Nark will present at the event in Dallas, Texas. The presentation will be accessible via live webcast on AZZ's Investor Relations page and the conference website. Investors can arrange one-on-one meetings with management during the event. The IDEAS conferences aim to connect quality companies with investment professionals.
AZZ Inc. (NYSE: AZZ), a global provider of metal coating services and welding solutions, will present at the Baird 2021 Global Industrial Conference on November 10, 2021, at 4:20 p.m. ET. The conference runs from November 9-11, 2021, offering a platform for over 275 corporations across various sectors. Management will also hold virtual one-on-one meetings on November 10. Investors can contact Baird or Lytham Partners for meeting arrangements. AZZ Inc. specializes in galvanizing, metal coatings, and engineered services across diverse markets including power generation and industrial sectors.
AZZ Inc. (NYSE: AZZ) has launched its first Environmental, Social Responsibility, and Governance Report, highlighting its commitment to sustainable business practices. The report, prepared per GRI and SASB standards, details the company’s actions over the past 18 months, including forming a Sustainability Council, enhancing governance policies, and implementing an environmental data management system. CEO Tom Ferguson emphasized the long-term value of integrating sustainability into their strategy, while Chairman Daniel Feehan reaffirmed the board’s commitment to overseeing ESG risks and opportunities.
AZZ Inc. (NYSE: AZZ) reported strong financial results for Q2 FY2022, ending August 31, 2021. Diluted earnings per share rose 55% to $0.76, with net income increasing to $19.0 million, up $6.0 million year-over-year. Sales reached $216.4 million, a 6.4% rise, led by the Metal Coatings segment at $129.6 million (up 10.7%). Operating income improved significantly to $26.5 million. The company also revised its FY2022 guidance, anticipating sales between $865 million and $925 million and EPS of $2.90 to $3.20.
AZZ Inc. (NYSE: AZZ) has declared a second-quarter cash dividend of $0.17 per share, payable on November 2, 2021, to shareholders of record by October 19, 2021. The company expresses a commitment to regular dividends, contingent on its operating results, financial condition, and outlook. AZZ provides metal coating services and welding solutions, serving various markets including power generation and industrial sectors.
AZZ Inc. (NYSE: AZZ) will hold a conference call to discuss its second quarter fiscal year 2022 financial results on October 12, 2021, at 11:00 a.m. ET. The financial results will be released prior to the market opening on the same day. AZZ, a provider of metal coating services and welding solutions, serves various sectors including power generation and industrial markets. The company emphasizes that its upcoming results will focus on key financial metrics and business developments.
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