AZZ Q1 sales $390.9M (+88.7% YoY); adj. EPS $1.14; reaffirms FY2024 guidance

AZZ INC

2024-Q1 EPS reported $0.98 revenue$390,873,000

Sales $390.9M (+88.7% YoY, +16.2% sequential); diluted EPS $0.98; adjusted EPS $1.14.
Adjusted EBITDA $85.4M (21.8% of sales), up 62.6% YoY.
Metal Coatings EBITDA margin 30.7% above target; Precoat Metals margin 19.4%, up 560 bps sequentially.
Paid down $20M debt; net leverage 3.5x; FY2024 guidance: sales $1.40-1.55B, adj. EBITDA $300-325M, adj. EPS $3.85-4.35.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AZZ INC reported fiscal year 2024 results: revenue $1.40 billion to $1.55 billion, EPS $3.85-$4.35. Guidance reaffirmed.

Period: fiscal year 2024
Revenue: $1.40 billion to $1.55 billion
EPS: $3.85-$4.35
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Management reaffirms fiscal year 2024 guidance: ◦ Sales of $1.40 billion to $1.55 billion ◦ Adjusted EBITDA of $300-$325 million ◦ Adjusted earnings per diluted share of $3.85-$4.35

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AZZ INC reported first quarter ended May 31, 2023 results: revenue $390.9 million, net income $28.5 million, EPS $0.98.

Period: first quarter ended May 31, 2023
Revenue: $390.9 million
Net income: $28.5 million
EPS: $0.98
Result: reported results

Exact text from the filing

First Quarter Overview (results from continuing operations (1),(2) ): ◦ Sales of $390.9 million, up 88.7% versus prior year, up 16.2% sequentially ▪ Metal Coatings sales of $168.8 million up 3.3% versus prior year and 13.0% sequentially ▪ Precoat Metals sales of $222.1 million, up 18.7% sequentially ◦ Diluted EPS of $0.98, up 58.1% versus prior year, up 553.3% sequentially; Adjusted EPS of $1.14, up 3.6% versus prior year, up 280.0% sequentially ◦ Net Income of $28.5 million, up 85.8% versus prior year, up 284.0% sequentially

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Source: SEC EDGAR

accession 0000008947-23-000106

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