AZZ Inc. - AZZ STOCK NEWS

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.

AZZ Inc. recently announced the completion of a transaction with Fernweh Group LLC, where AZZ divested its AIS Segment for an implied enterprise value of $300 million. AZZ will receive approximately $228 million in cash proceeds, using $210 million to pay down its Term Loan B and the remainder on its Revolving Credit Facility. The AIS Segment, which generated around $375 million in sales for the fiscal year 2022, focuses on providing specialized products for industrial applications.

AZZ Inc. (NYSE: AZZ) will discuss its second quarter fiscal 2023 financial results during a conference call on October 11, 2022, at 11:00 a.m. ET. A press release with the financial details will be issued before the market opens on the same day. The company provides metal coating solutions, coil coating solutions, welding solutions, and specialty electrical equipment. Further information can be accessed on their Investor Relations page.

Veritas Capital has entered into a definitive agreement to acquire Sequa Corporation, the parent company of Chromalloy, from Carlyle. Financial terms were not disclosed. Sequa, based in Palm Beach Gardens, FL, specializes in solutions for aircraft engines and gas turbines through Chromalloy, a leader in aftermarket services. The acquisition is expected to close in Q4 2022. The partnership aims to leverage technology and innovation to enhance Chromalloy's offerings and expand its customer relationships, following the earlier sale of Precoat Metals to AZZ Inc.

AZZ Inc. (NYSE: AZZ), a global provider of metal coating solutions, will present at the 13th Annual Midwest IDEAS Conference on August 25, 2022, at 12:45 p.m. CT in Chicago, IL. David Nark, Senior VP of Marketing, Communications, and Investor Relations, will represent the company. A webcast of the presentation will be accessible on the Company's Investor Relations page, with a replay available post-event. Additionally, management will hold one-on-one investor meetings. Interested investors can contact Lacey Wesley for arrangements.

AZZ Inc. announced its participation in the Jefferies Industrial Conference on August 9, 2022, at 2:00 p.m. ET. David Nark, Senior Vice President of Marketing and Investor Relations, will present the company's highlights. The event will be held in Fort Worth, Texas. A webcast of the presentation will be available on the Investor Relations page, along with a replay after the event. Investors can also schedule one-on-one meetings with management during the conference.

AZZ Inc. (NYSE: AZZ) reported strong financial results for Q1 FY2023, ending May 31, 2022. Sales rose to $314.4 million, up 36.8% from the previous year, with diluted earnings per share increasing 9.1% to $0.96. Net income reached $24.1 million, with EBITDA of $54.2 million, up 26.8%. The Metal Coatings segment performed notably, contributing $160.8 million in sales, while the newly acquired Precoat Metals segment generated $43.7 million in sales.

Management anticipates second-quarter sales between $485 million and $510 million.

AZZ Inc. (NYSE: AZZ) has announced a cash dividend of $0.17 per share for the first quarter of fiscal year 2023. The dividend will be paid on August 2, 2022, to shareholders on record as of July 19, 2022. The company continues to prioritize enhancing shareholder value, with future dividends subject to Board approval based on various operational and financial factors. AZZ specializes in metal coating solutions, welding solutions, and specialty electrical equipment across numerous markets, ensuring a broad impact from its offerings.

AZZ Inc. (NYSE: AZZ), a provider of galvanizing and metal coating solutions, will conduct a conference call to discuss its first quarter fiscal year 2023 financial results on July 11, 2022, at 11:00 a.m. ET. A press release with the financial results will be issued before the market opens on the same day. Investors can access the call via phone or a webcast on the company’s Investor Relations page. The replay will be available until July 18, 2022. AZZ serves various markets including power generation and industrial sectors, focusing on corrosion protection and infrastructure solutions.