AZZ INC
For the period ended Nov 30, 2023. Filed Jan 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 30, 2023 · Filed Jan 9, 2024
AZZ$130.81-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended November 30, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net income (loss) available to common shareholders | $72,944 | $(58,675) |
| Less: Net loss from discontinued operations | — | 112,947 |
| Plus: Dividends on preferred stock | 10,800 | 4,640 |
| Net income from continuing operations | 83,744 | 58,912 |
| Adjustments to reconcile net income from continuing operations to net cash provided by operating activities: | ||
| Bad debt expense (recovery) | 53 | (38) |
| Depreciation and amortization | 59,034 | 55,813 |
| Deferred income taxes | (274) | (20,421) |
| Equity in earnings of unconsolidated entities | (11,136) | (1,006) |
| Impairment of long-lived assets | — | 235 |
| Net (gain) on sale of property, plant and equipment | (39) | (1,381) |
| Amortization of debt financing costs | 9,105 | 5,916 |
| Share-based compensation expense | 6,207 | 7,138 |
| Changes in current assets and current liabilities | 38,819 | (34,969) |
| Changes in other long-term assets and long-term liabilities | (4,585) | (1,577) |
| Net cash provided by operating activities of continuing operations | 180,928 | 68,622 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (66,900) | (35,085) |
| Acquisition of subsidiaries, net of cash acquired | — | (1,283,448) |
| Proceeds from sale of subsidiaries, net | — | 106,766 |
| Other investing activities | 47 | 4,114 |
| Net cash used in investing activities of continuing operations | (66,853) | (1,207,653) |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock | 1,465 | 1,767 |
| Payments for taxes related to net share settlement of equity awards | (791) | (2,592) |
| Proceeds from revolving loan | 189,000 | 255,000 |
| Payments on revolving loan | (274,000) | (322,000) |
| Proceeds from long term debt | — | 1,540,000 |
| Payments of debt financing costs | (1,299) | (87,555) |
| Payments on long term debt and finance leases | (268) | (366,500) |
| Payments of dividends | (23,551) | (12,664) |
| Net cash provided by (used in) financing activities of continuing operations | (109,444) | 1,005,456 |
| Effect of exchange rate changes on cash | 58 | (2,199) |
| Net cash provided by operating activities from discontinued operations | — | 7,973 |
| Net cash used in investing activities from discontinued operations | — | (3,991) |
| Net cash provided by financing activities from discontinued operations | — | 120,000 |
| Net cash provided by discontinued operations | — | 123,982 |
| Net increase (decrease) in cash and cash equivalents | 4,689 | (11,792) |
| Cash and cash equivalents at beginning of period | 2,820 | 15,082 |
| Cash and cash equivalents from continuing operations at end of period | $7,509 | $3,290 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.