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Feb 28, 2023
Azz Q4 2023 Earnings Report
Reported record full year results from continuing operations and sales growth.
Key Takeaways
AZZ Inc. reported a strong fourth quarter and fiscal year 2023, with sales of $336.5 million, up 16.0% on a comparable basis. The company's adjusted EPS was $0.30, and adjusted EBITDA was $57.2 million or 17.0% of sales.
Sales of $336.5 million, up 16.0% on a comparable basis.
Metal Coatings sales up 14.8% and Precoat Metals, on a comparable basis, up 17.0%.
GAAP Diluted EPS of $0.15, and Adjusted EPS of $0.30.
Adjusted EBITDA $57.2 million or 17.0% of sales.
Azz
Azz
Azz Revenue by Segment
Revenue by Segment
Metal Coatings Revenue
CapyFin.comPrecoat Metals Revenue
CapyFin.com Forward Guidance
Management is reaffirming the fiscal year 2024 guidance with annual sales guidance range of $1.40 billion to $1.55 billion, adjusted EBITDA range of $300-$325 million and adjusted earnings per diluted share of $3.85-$4.35.
Positive Outlook
- Strong performance within our segments
- A seasonally higher first quarter
Challenges Ahead
- Higher interest expense
- Dividends on our Preferred Stock
- The impact of an annualized effective tax rate of approximately 24%
Revenue & Expenses
Visualization of income flow from segment revenue to net income