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), a leader in hot-dip galvanizing and coil coating solutions in North America, announced the appointment of Jason Crawford as Chief Financial Officer (CFO) effective June 3, 2024. Crawford has over 20 years of senior-level accounting and finance experience, notably with Boston Scientific and Precoat Metals. He holds an MBA from Washington University in St. Louis and a BA in Accounting from the University of Abertay, Scotland. The former CFO, Philip Schlom, will remain as a consultant to ensure a smooth transition. CEO Tom Ferguson praised Crawford's finance acumen and experience, emphasizing the importance of internal career development at AZZ.
AZZ Inc. (NYSE: AZZ), a leader in hot-dip galvanizing and coil coating solutions in North America, has announced the participation of David Nark, Senior VP of Marketing, Communications, and Investor Relations, in two key conferences in June 2024.
The first event, the Stifel Cross Sector Insight Conference, will take place on June 4-5, 2024, at The InterContinental Boston in Boston, Massachusetts, where AZZ will host one-on-one meetings on June 4.
The second event is the 14th Annual East Coast IDEAS Conference, set for June 12-13, 2024, at Jay Conference – Bryant Park in New York City, New York. AZZ will present at 2:45 pm Eastern on June 13, 2024, followed by one-on-one meetings.
Interested investors can schedule meetings by contacting Sandy Martin or Phillip Kupper with Three Part Advisors.
AZZ Inc. announced its participation in the Oppenheimer 19th Annual Industrial Growth Conference and B. Riley Financial 24th Annual Institutional Investor Conference in May 2024. David Nark, Senior Vice President, Marketing, Communications, and Investor Relations will represent the company. The Oppenheimer conference will be held from May 6-9, 2024, while the B. Riley conference will take place on May 22-23, 2024.
AZZ Inc. announced the closing of a public offering of 4.6 million shares of common stock, generating gross proceeds of $322 million. The offering included the full exercise of the underwriters' option to buy an additional 600,000 shares. The net proceeds will be used to redeem the Company's 6.0% Series A Convertible Preferred Stock.
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