NYSE$AZZ
Azz Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Delivered growth in sales, profits, and cash flow, supporting debt pay down
AZZ Inc. reported a 2.2% increase in total sales to $381.6 million and a 55.9% increase in diluted EPS to $0.92 for the third quarter of fiscal year 2024. Both segments performed well, with Metal Coatings sales up 3.1% and Precoat Metals sales up 1.6%. The company reduced debt by $25 million in the quarter and is narrowing its annual guidance upward.
- Total sales increased by 2.2% to $381.6 million.
- Diluted EPS increased by 55.9% to $0.92, while Adjusted EPS increased by 52.6% to $1.19.
- Net income increased by 45.8% to $26.9 million.
- Debt was reduced by $25 million in the quarter.
Headline financials
Revenue & EPS history
Azz · Revenue · Quarterly
$382M
Revenue by segment
Azz · $399M total across 2 segments · Q2 2024
- Precoat Metals$229M-5.0%57.4%
- Metal Coatings$170M+2.4%42.6%
Forward guidance
AZZ is narrowing and revising upward its fiscal year 2024 guidance to reflect nine-month actual results and fourth quarter projections. The guidance includes estimated interest expense benefits and the reduction of debt.
Tailwinds
- Secular tailwinds exist for non-building construction on infrastructure and renewables projects.
- Reshoring of manufacturing is expected to continue.
- Continued migration to more environmentally friendly pre-painted steel and aluminum is anticipated.
- Expect meaningfully improved profitability over prior year same quarter.
- Actions have helped offset the impact of the higher interest rate environment.
Headwinds
- The fourth quarter typically represents a seasonally slower period for AZZ.
- End-market softness related to the construction, HVAC and transportation markets.
- Potential changes in customer demand for products and services.
- Possible increases in labor costs, components and raw materials.
- Economic volatility, including a prolonged economic downturn or macroeconomic conditions such as inflation.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.7%
Avg return
Earnings day
-0.9%
Avg return
5 days after
+1.7%
Avg return
30 days after
38%
25 / 65 earnings
Positive
+19.3%
Q1 2019
Best reaction
-14.4%
Q1 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -1.3% | +4.9% | +1.6% | |
| Q3 2026 | +6.5% | +10.9% | +18.4% | |
| Q2 2026 | -5.3% | -5.3% | -5.6% | |
| Q1 2026 | +3.2% | +4.9% | +6.0% | |
| Q4 2025 | +3.1% | +9.8% | +15.4% | |
| Q3 2025 | -2.3% | -1.6% | +12.3% | |
| Q2 2025 | -4.2% | +0.6% | +4.9% | |
| Q1 2025 | +8.2% | +10.9% | -1.4% | |
| Q4 2024 | +10.9% | -4.4% | +12.3% | |
| Q3 2024 | -0.4% | +1.5% | +17.8% | |
| Q2 2024 | +6.7% | +3.5% | +1.0% | |
| Q1 2024 | +2.7% | +4.4% | +9.1% | |
| Q4 2023 | -7.2% | -4.8% | -10.9% | |
| Q3 2023 | +6.9% | +4.2% | -2.3% | |
| Q2 2023 | -0.4% | -15.0% | +1.8% | |
| Q1 2023 | -2.3% | -3.4% | +4.8% | |
| Q4 2022 | -2.2% | -5.2% | -9.5% | |
| Q3 2022 | -5.8% | -6.5% | -11.4% | |
| Q2 2022 | +2.4% | -2.5% | +2.9% | |
| Q1 2022 | +6.8% | +2.2% | +2.6% | |
| Q4 2021 | -1.5% | -1.1% | +0.2% | |
| Q3 2021 | +1.4% | -4.1% | +0.5% | |
| Q2 2021 | -4.7% | -6.5% | +0.6% | |
| Q1 2021 | -11.6% | -12.3% | +1.8% | |
| Q4 2020 | +4.6% | -4.6% | +5.5% | |
| Q3 2020 | -2.2% | -1.3% | -6.3% | |
| Q2 2020 | +18.4% | +15.9% | +17.9% | |
| Q1 2020 | +2.1% | +0.2% | -6.1% | |
| Q4 2019 | -0.7% | -5.2% | -3.9% | |
| Q3 2019 | +7.2% | +9.7% | +8.9% | |
| Q2 2019 | -9.1% | -6.1% | -1.7% | |
| Q1 2019 | +19.3% | +21.2% | +24.0% | |
| Q4 2018 | -8.4% | -6.8% | +0.8% | |
| Q3 2018 | -8.4% | -6.8% | +0.8% | |
| Q2 2018 | -5.4% | -8.0% | -5.9% | |
| Q1 2018 | -14.0% | -12.9% | -9.8% | |
| Q4 2017 | -3.5% | +3.7% | -7.7% | |
| Q3 2017 | -11.3% | -6.7% | -8.3% | |
| Q2 2017 | -10.4% | -14.8% | -19.1% | |
| Q1 2017 | +0.1% | +0.3% | +4.6% | |
| Q4 2016 | -0.0% | — | — | |
| Q3 2016 | -0.7% | — | — | |
| Q2 2016 | -1.7% | — | — | |
| Q1 2016 | -1.1% | — | — | |
| Q4 2015 | +3.5% | — | — | |
| Q3 2015 | -7.7% | — | — | |
| Q2 2015 | +3.5% | — | — | |
| Q1 2015 | +9.6% | — | — | |
| Q4 2014 | -2.3% | — | — | |
| Q3 2014 | -14.1% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | -14.4% | — | — | |
| Q4 2013 | -2.4% | — | — | |
| Q3 2013 | +4.2% | — | — | |
| Q2 2013 | +9.3% | — | — | |
| Q1 2012 | +2.2% | — | — | |
| Q1 2013 | -1.5% | — | — | |
| Q4 2012 | +1.6% | — | — | |
| Q4 2010 | +1.6% | — | — | |
| Q3 2011 | -0.2% | — | — | |
| Q3 2012 | -0.2% | — | — | |
| Q2 2011 | -6.0% | — | — | |
| Q2 2012 | -6.0% | — | — | |
| Q4 2011 | -6.0% | — | — | |
| Q1 2011 | -3.6% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro