AZZ Inc. - AZZ STOCK NEWS

A ZZ Inc. will present at the 14th Annual Midwest IDEAS Conference on November 17, 2022, at 8:00 a.m. CT in Dallas, Texas. David Nark, Senior Vice President of Marketing, Communications and Investor Relations, will represent the company, known as a leading provider of hot-dip galvanizing and coil coating solutions in North America. A webcast will be available on the company's Investor Relations page, and one-on-one investor meetings can be arranged by contacting Lacey Wesley.

AZZ Inc. plans to build a new aluminum coil coating facility in Washington, Missouri, near St. Louis, expected to be operational by 2025. The facility will boost capacity by over 120 million pounds annually, with 75% of the volume already secured through long-term customer contracts. Projected sales of at least $60 million by 2026 are anticipated, supported by existing credit facilities and lease agreements. The development will create over 80 jobs and is a strategic move for AZZ's growth in the coatings market.

AZZ Inc. (NYSE: AZZ), the leading provider of hot-dip galvanizing and coil coating solutions, will present at the Baird 2022 Global Industrial Conference. The presentation is scheduled for November 9, 2022, at 2:55 p.m. CT in Chicago, IL. This conference runs from November 8-10, 2022, featuring over 250 companies across various sectors including industrial services and chemicals. Management will also hold one-on-one meetings for investors. For more information, contact Lytham Partners.

AZZ reported record sales of $406.7 million and an adjusted EPS of $1.24 for Q2 FY2023, marking a 63.2% increase year-over-year. Despite these gains, the company faced a net loss of $(58.6) million due to divesting its AIS JV. The Metal Coatings segment demonstrated strong performance with $165.8 million in sales, while the Precoat Metals segment achieved $240.9 million. AZZ is maintaining a positive outlook despite economic slowdown signs. Cash and cash equivalents stand at $14.3 million after a significant divestiture.

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.