AZZ Q2 sales down 2% to $398.5M; EPS up 4.3%; reaffirms FY2024 guidance

AZZ INC

2024-Q2 EPS reported $1.95 revenue$789,415,000

Total sales $398.5M, down 2.0% YoY; Metal Coatings record $169.8M (+2.4%) and Precoat Metals $228.7M (-5.0%)
Diluted EPS $0.97 (+4.3%); Adjusted EPS $1.27 (+5.0%); Net income $28.3M (+12.8%)
Adjusted EBITDA $88.0M (22.1% of sales); Metal Coatings margin 30.4%, Precoat Metals 20.3%
Reduced debt by $40M in quarter; net leverage 3.4x; reaffirms FY2024 debt reduction of $75-100M
Recognized $5.75M litigation settlement charge related to Infrastructure Solutions segment

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AZZ INC reported second quarter ended August 31, 2023 results: revenue $398.5 million, net income Net Income of $28.3 million, EPS $0.97. Guidance reaffirmed.

Period: second quarter ended August 31, 2023
Revenue: $398.5 million
Net income: Net Income of $28.3 million
EPS: $0.97
Guidance: reaffirmed
Result: reported results

Exact text from the filing

financial results for the second quarter ended August 31, 2023. Second Quarter Overview (results from continuing operations as compared to prior year (1) ): ◦ Total Sales $398.5 million, down 2.0% ▪ Metal Coatings record sales of $169.8 million up 2.4% ▪ Precoat Metals sales of $228.7 million, down 5.0% ◦ Diluted EPS of $0.97, up 4.3% versus prior year, Adjusted

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Source: SEC EDGAR

accession 0000008947-23-000156

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