AZZ Inc. (AZZ) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE MUSEUM PLACE, SUITE 500
FORT WORTH, TX 76107
State of Incorp. TX
Fiscal Year End February 28
Industry (SIC) 347 - Coating, Engraving, And Allied Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

11/30/2023
MRQ
2/28/2023
2/28/2022
2/28/2021
2/29/2020
2/28/2019
2/28/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,82015,08214,83736,68724,00520,853
Cash and cash equivalents2,82015,08214,83736,68724,00520,853
Receivables183,412167,016128,127139,214144,887141,488
Inventory, net of allowances, customer advances and progress billings(7,300)  99,841124,847110,761
Inventory(7,300)  99,841124,847110,761
Disposal group, including discontinued operation  2353,684   
Costs in excess of billings51,787
Other undisclosed current assets238,484204,200156,84478,82084,8064,265
Total current assets:417,416386,533303,492354,562378,545329,154
Noncurrent Assets
Operating lease, right-of-use asset26,39243,28637,801 
Property, plant and equipment498,503230,848205,909213,104210,227216,855
Long-term investments and receivables84,800     
Long-term investments84,800     
Intangible assets, net (including goodwill)1,181,941467,170449,240462,957453,928482,200
Goodwill702,512385,613353,881356,225323,756321,307
Intangible assets, net (excluding goodwill)479,42981,55795,359106,732130,172160,893
Regulated entity, other noncurrent assets     255 
Deferred income tax assets12,4675,191  
Other noncurrent assets      
Other undisclosed noncurrent assets(40)  43,20845,615 
Total noncurrent assets:1,804,063746,495692,950719,269710,025699,055
TOTAL ASSETS:2,221,4791,133,028996,4421,073,8311,088,5701,028,209
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities136,395100,06763,640103,745101,70592,939
Taxes payable2723,564 2,876632144
Employee-related liabilities26,26228,42422,60638,88230,39519,011
Accounts payable109,86143,98741,03461,98753,04754,162
Accrued liabilities 24,092  17,63119,622
Debt 1786,588125,000 14,286
Other liabilities44,44224,09227,13626,86817,63119,622
Customer advances and deposits4811,816
Other undisclosed current liabilities6,40326,19416,48625,00044,9543,076
Total current liabilities:187,240150,531113,850280,613164,771131,739
Noncurrent Liabilities
Long-term debt and lease obligation1,058,120262,094211,048115,992240,745286,609
Long-term debt, excluding current maturities1,058,120226,484178,41977,878240,745286,609
Finance lease, liability 645  
Liabilities, other than long-term debt101,95553,03848,2524,93438,13644,658
Deferred tax liabilities, net36,62332,962
Deferred income tax liabilities40,53647,67239,283 
Other liabilities61,4195,3668,9694,9341,51311,696
Operating lease, liability 34,96532,62938,114
Other undisclosed noncurrent liabilities 20,704  37,92641,190 
Total noncurrent liabilities:1,180,779315,132259,300158,852320,071331,267
Total liabilities:1,368,019465,663373,150439,465484,842463,006
Equity
Equity, attributable to parent, including:853,460667,365623,292634,366603,728565,203
Common stock24,91224,68825,10826,14826,11525,959
Additional paid in capital326,83985,84775,97966,70346,14138,446
Accumulated other comprehensive loss(4,573)(27,324)(25,084)(30,899)(28,752)(25,220)
Retained earnings506,042584,154547,289572,414560,224526,018
Other undisclosed equity, attributable to parent240     
Total equity:853,460667,365623,292634,366603,728565,203
TOTAL LIABILITIES AND EQUITY:2,221,4791,133,028996,4421,073,8311,088,5701,028,209

Income Statement (P&L) ($ in thousands)

11/30/2023
TTM
2/28/2023
2/28/2022
2/28/2021
2/29/2020
2/28/2019
2/28/2018
Revenues1,323,649902,664838,9171,061,817927,087810,430
Revenue, net927,087810,430
Cost of revenue(1,027,706)(677,441)(650,170)(824,589)(728,466)(650,121)
Cost of goods and services sold   (2,511)(824,589)(728,466)(650,121)
Gross profit:295,943225,223188,747237,228198,621160,309
Operating expenses(122,305)(114,232)(110,214)(139,253)(121,665)(112,061)
Other undisclosed operating income (loss) 2,349(16,919)(18,632)  
Operating income:173,638113,34061,61479,34376,95648,248
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
1,240(600)(969)(990)1,020(2,724)
Interest and debt expense(88,800)(6,395)(9,648)(13,463)(14,971)(13,860)
Other undisclosed loss from continuing operations before equity method investments, income taxes      (765)
Income from continuing operations before equity method investments, income taxes:86,078106,34550,99764,89063,00530,899
Income from equity method investments2,597     
Other undisclosed income from continuing operations before income taxes      
Income from continuing operations before income taxes:88,675106,34550,99764,89063,00530,899
Income tax expense (benefit)(22,336)(22,323)(11,383)(16,656)(11,797)14,270
Income from continuing operations:66,33984,02239,61448,23451,20845,169
Income before gain (loss) on sale of properties:84,02239,61448,23451,20845,169
Net income:66,33984,02239,61448,23451,20845,169
Other undisclosed net loss attributable to parent(119,313)     
Net income (loss) attributable to parent:(52,974)84,02239,61448,23451,20845,169
Preferred stock dividends and other adjustments(8,240)     
Other undisclosed net loss available to common stockholders, basic      
Net income (loss) available to common stockholders, basic:(61,214)84,02239,61448,23451,20845,169
Convertible preferred dividends      
Other undisclosed net income available to common stockholders, diluted      
Net income (loss) available to common stockholders, diluted:(61,214)84,02239,61448,23451,20845,169

Comprehensive Income ($ in thousands)

11/30/2023
TTM
2/28/2023
2/28/2022
2/28/2021
2/29/2020
2/28/2019
2/28/2018
Net income:66,33984,02239,61448,23451,20845,169
Other comprehensive income (loss)22,751(2,310)5,815(2,147)(3,532)3,874
Comprehensive income:89,09081,71245,42946,08747,67649,043
Other undisclosed comprehensive loss, net of tax, attributable to parent(127,553)     
Comprehensive income (loss), net of tax, attributable to parent:(38,463)81,71245,42946,08747,67649,043

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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