AZZ (AZZ) Company Report

AZZ has transformed into a pure-play metal coatings company, reporting a collective $1.6 billion top line and $392 million in EBITDA.
The company has significantly reduced its debt to EBITDA from 4.2 times to 1.7 times, ahead of schedule, and has resumed M&A activity, completing one bolt-on acquisition this year.
AZZ provided guidance for the current year, expecting sales between $1.625 billion-$1.725 billion, adjusted EBITDA of $360 million-$400 million, and adjusted EPS of $5.75-$6.25.
The company aims to achieve $2 billion in top-line revenue by 2028, and has increased its dividend for the first time since 2017, while also engaging in opportunistic share buybacks.

Nov 19, 2025, 7:20 PM

Transcript

AZZ Details Transformation to Pure-Play Metal Coatings Business, Financial Performance, and Future Growth Strategy

AZZ

M&A

Guidance Update

Dividends

AZZ has transformed into a pure-play metal coatings business, focusing on hot-dip galvanizing and roll coating (Precoat Metals), with both segments holding a #1 market share in North America.
The company reported combined sales of approximately $1.6 billion and EBITDA of $392 million. It has significantly reduced its debt leverage from 4.2x to 1.7x debt to EBITDA since the 2022 Precoat Metals acquisition, ahead of its 1.5-2.5x target range.
AZZ is targeting $2 billion in top line by 2028 and a 12% or greater ROIC. For the current fiscal year, guidance includes sales of $1.625 billion-$1.725 billion, adjusted EBITDA of $360 million-$400 million, and adjusted EPS of $5.75-$6.25.
The company is actively pursuing M&A opportunities, having completed one bolt-on acquisition this year, and has increased its dividend for the first time since 2017 while also opportunistically buying back shares.

Nov 19, 2025, 7:20 PM

Transcript

AZZ Discusses Strategic Transformation, Growth, and Financial Guidance

AZZ

Guidance Update

M&A

Dividends

AZZ has completed a strategic transformation into a pure-play metal coatings company, specializing in hot-dip galvanizing and coil coating, operating a "toll coating" business model where customers provide the steel and aluminum.
The company reported approximately $1.6 billion in sales and $392 million in EBITDA , with a long-term goal to reach $2 billion in top line by 2028 and expects to outperform GDP with high single to low double-digit top-line growth.
AZZ has significantly strengthened its balance sheet, reducing its debt to EBITDA ratio from 4.2 times to 1.7 times, which is comfortably within its target range of 1.5-2.5 times.
The company has re-engaged in M&A, completing one bolt-on galvanizing acquisition this year and evaluating 13 targets under NDA, while also raising its dividend for the first time since 2017 and implementing a 10b5-1 for opportunistic share buybacks.
For the current fiscal year, AZZ's guidance includes sales of $1.625 billion-$1.725 billion, adjusted EBITDA of $360 million-$400 million, and adjusted EPS of $5.75-$6.25.

Nov 19, 2025, 7:20 PM

Transcript

AZZ Inc. Reports Strong TTM Performance and Provides FY2026 Guidance

AZZ

Guidance Update

M&A

New Projects/Investments

AZZ Inc. reported trailing twelve-month (TTM) sales of ~$1.59 billion and TTM Adjusted EBITDA of $392 million (24.6% margin) as of August 31, 2025, solidifying its position as North America's leading independent post-fabrication metal coatings solutions company.
For fiscal year 2026, the company projects sales between $1.625 billion and $1.725 billion, Adjusted EBITDA between $360 million and $400 million (with EBITDA expected in the lower half of the range), and Adjusted EPS from $5.75 to $6.25.
The company's capital allocation strategy includes maintaining net leverage within a target range of 1.5x to 2.5x, with current net leverage at 1.7x as of August 31, 2025, and a debt reduction of $355.4 million in the trailing twelve-month period.
AZZ increased its dividend by 17.6% to $0.20 per share on June 26, 2025, and completed the acquisition of Canton Galvanizing on July 1, 2025.
Strategic investments include a $125 million new coil coating facility in Washington, Missouri, anticipated to be operational in the first half of FY2026 and accretive to earnings in the second half of FY2026.

Oct 17, 2025, 8:23 PM

8-K

AZZ Reports Q2 2026 Results and Reaffirms FY 2026 Guidance

AZZ

Earnings

Guidance Update

Share Buyback

AZZ reported total sales of $417.3 million for Q2 2026, a 2% increase from the prior year, with adjusted diluted EPS rising 13.1% to $1.55. Operating cash flow improved by 23%.
The Metal Coatings segment led growth with a 10.88% sales increase, driven by higher volumes and infrastructure spending, while Precoat Metals' sales declined 4.3% due to weaker end-market conditions and tariff impacts.
The company reiterated its fiscal year 2026 guidance, projecting sales between $1.625 billion and $1.725 billion, adjusted EBITDA in the lower half of $360 million to $400 million, and adjusted diluted EPS of $5.75 to $6.25.
AZZ significantly reduced interest expense by $8.2 million year-over-year in Q2 2026 through debt paydown and a new accounts receivable securitization facility, and plans for $20 million in share buybacks.

Oct 9, 2025, 3:00 PM

Transcript

AZZ Reports Q2 Fiscal Year 2026 Results

AZZ

Earnings

Guidance Update

Dividends

AZZ reported Q2 Fiscal Year 2026 sales of $417.3 million, with Adjusted Diluted EPS of $1.55 and Adjusted EBITDA of $88.7 million.
Segment performance included Metal Coatings sales of $190 million, up 10.8%, and Precoat Metals sales of $227.3 million, down 4.3% over the prior year.
The company strengthened its balance sheet with Q2 cash provided by operating activities of $58.4 million (up 23%), $5 million in debt reduction, and a net leverage ratio of 1.7X.
AZZ is maintaining its FY2026 guidance, projecting sales between $1.625-$1.725 billion, Adjusted EBITDA between $360-$400 million, and Adjusted Diluted EPS between $5.75-$6.25.
Year-to-date in FY2026, $11.1 million was returned to shareholders through dividend payments.

Oct 9, 2025, 3:00 PM

Presentation

AZZ Inc. Reports Solid Q2 FY2026 Results and Reaffirms Full-Year Guidance

AZZ

Earnings

Guidance Update

M&A

AZZ Inc. reported second quarter fiscal year 2026 total sales of $417.3 million, an increase of 2.0%, and adjusted diluted EPS of $1.55, up 13.1% compared to the prior year.
The Metal Coatings segment sales grew by 10.8% to $190.0 million, driven by infrastructure-related project spending, while Precoat Metals sales decreased by 4.3% to $227.3 million due to weaker end markets.
The company generated $58.4 million in cash from operating activities during the quarter, an increase of 23% from last year, and maintained a net debt leverage of 1.7x after completing a $30.1 million acquisition and paying a $0.20 per share cash dividend.
AZZ Inc. reaffirmed its Fiscal Year 2026 guidance, projecting sales of $1.625 - $1.725 billion, Adjusted EBITDA of $360 - $400 million, and Adjusted Diluted EPS of $5.75 - $6.25.

Oct 8, 2025, 8:15 PM

Press Release

AZZ Inc. Reports Solid Q2 2026 Results and Reaffirms FY2026 Guidance

AZZ

Earnings

Guidance Update

M&A

AZZ Inc. reported total sales of $417.3 million for the second quarter of fiscal year 2026, an increase of 2.0% compared to the prior fiscal year's second quarter.
The company achieved GAAP diluted EPS of $2.95, up 150.0%, and Adjusted diluted EPS of $1.55, up 13.1% for Q2 2026.
Cash provided by operating activities was $58.4 million, representing a 23% increase from the previous year.
AZZ Inc. maintained its Fiscal Year 2026 guidance, projecting sales between $1.625 billion and $1.725 billion, Adjusted EBITDA between $360 million and $400 million, and Adjusted Diluted EPS between $5.75 and $6.25.
During the quarter, the company completed the acquisition of a galvanizing facility for $30.1 million and achieved a net debt leverage of 1.7x.

Oct 8, 2025, 8:13 PM

8-K

AZZ Inc. Outlines Strategic Plan and Financial Guidance at Investor Day 2025

AZZ

Guidance Update

New Projects/Investments

M&A

AZZ Inc. is the largest independent post-fabrication hot dip galvanizing and coil coating solutions company in North America, employing approximately 4,000 people.
The company has focused on debt reduction and is now committed to deploying cash for profitable growth, including significant organic growth opportunities and bolt-on acquisitions. They have identified 68 potential M&A opportunities, with 13 currently under evaluation.
AZZ is committed to driving the business to north of $2 billion in revenue and 25% EBITDA margins.
For the latest financial report (Q1), the company updated its guidance to $1.6 billion to $1.7 billion in sales, adjusted EBITDA between $360 million and $400 million, and adjusted EPS between $5.75 and $6.25.
The company benefits from significant market tailwinds, including infrastructure investment (with $454 billion allocated to over 60,000 projects from the AIIJA), reshoring, and the migration to more environmentally friendly coil coating processes.

Aug 14, 2025, 2:50 PM

AZZ Inc. Provides FY2026 Guidance and Strategic Update

AZZ

Guidance Update

New Projects/Investments

Dividends

AZZ Inc. provided FY2026 guidance, projecting sales between $1.625 billion and $1.725 billion, Adjusted EBITDA between $360 million and $400 million, and Adjusted EPS in the range of $5.75 to $6.25.
As of May 31, 2025, the company reported trailing twelve-month (TTM) sales of approximately $1.58 billion and TTM Adjusted EBITDA of $392 million.
AZZ Inc. has transformed into a focused Metal Coatings Company, achieving a net leverage of 1.7x as of May 31, 2025, and increased its dividend by 17.6% to $0.20 per share on June 26, 2025.
The new $125 million coil coating facility in Washington, Missouri, completed construction in Q4 FY2025 and is expected to be operational in the first half of FY2026 and accretive to earnings in the second half of FY2026.

Aug 13, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for AZZ.