AZZ Inc. - AZZ STOCK NEWS

AZZ Inc. (NYSE: AZZ), a leading provider of metal coating, welding solutions, and specialty electrical equipment, announced that CFO Philip Schlom and SVP David Nark will present at the Sidoti's Spring 2021 Investor Conference on March 24, 2021, at 2:30 p.m. ET. The presentation will be virtual, and a replay will be available afterward on the Investor Relations page.

AZZ serves various markets, including power generation and industrial, focusing on metal finishing and corrosion protection.

AZZ Inc. (NYSE:AZZ) announced the appointment of Carol R. Jackson and Clive A. Grannum as new independent directors, effective immediately. Both will serve until the next Annual Shareholders meeting in July 2021. Ms. Jackson is the CEO of HarbisonWalker International, with extensive leadership experience, while Mr. Grannum is the President of Performance Alloys at Materion Corporation. The board refreshment continues as part of AZZ's strategy for growth. The Board will now have nine members, eight of whom are independent.

AZZ Inc. (NYSE: AZZ) has provided its fiscal year 2022 guidance, predicting earnings per diluted share between $2.45 and $2.95, with estimated sales ranging from $835 million to $935 million. The guidance reflects management's evaluation of current market conditions and backlog expectations, excluding potential acquisitions and regulatory changes. CEO Tom Ferguson emphasized growth in the Metal Coatings segment and a focus on infrastructure solutions. The company is pursuing growth opportunities to enhance shareholder value.

AZZ Inc. (NYSE: AZZ) has declared a third quarter cash dividend of $0.17 per share, payable on February 9, 2021, to shareholders of record as of January 26, 2021. The company reaffirms its commitment to regular quarterly dividends, subject to review by its Board of Directors based on operating results and financial conditions. AZZ specializes in metal coating services, welding solutions, and specialty electrical equipment, serving critical sectors like power generation and industrial markets.

AZZ Inc. reported third quarter fiscal 2021 results, with earnings per share of $0.76 and net income of $19.7 million. Total sales were $226.6 million, reflecting an 11.4% sequential increase but a 22.2% decline year-over-year. The Metal Coatings segment saw a 10.5% drop in sales, while the Infrastructure Solutions segment fell 31.5%. A new $100 million share repurchase program was approved. Management remains optimistic, anticipating improved fourth quarter results and emphasizing strategic growth in Metal Coatings.

AZZ Inc. (NYSE: AZZ) announced the acquisition of Acme Galvanizing, Inc., a century-old provider of hot-dip galvanizing and zinc electroplating services, based in Milwaukee, Wisconsin. Although transaction terms were undisclosed, AZZ anticipates the acquisition will contribute positively to earnings within its first operational year. The acquisition enhances AZZ's Midwest presence by adding a facility with advanced automated zinc plating lines and a galvanizing kettle, expanding its hot-dip galvanizing network to 40 sites across North America.

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.

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.

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.