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$125.71+2.9%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
| Three Months Ended November 30, | Nine Months Ended November 30, | |||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Sales | $381,605 | $373,301 | $1,171,020 | $987,145 |
| Cost of sales | 293,456 | 300,219 | 888,606 | 752,455 |
| Gross margin | 88,149 | 73,082 | 282,414 | 234,690 |
| Selling, general and administrative | 35,325 | 27,689 | 103,087 | 97,247 |
| Operating income | 52,824 | 45,393 | 179,327 | 137,443 |
| Interest expense | 25,855 | 26,123 | 82,331 | 61,739 |
| Equity in earnings of unconsolidated subsidiaries | (8,742) | (1,006) | (11,136) | (1,006) |
| Other (income) expense, net | 41 | (610) | (9) | (582) |
| Income from continuing operations before income taxes | 35,670 | 20,886 | 108,141 | 77,292 |
| Income tax expense | 8,780 | 2,447 | 24,397 | 18,380 |
| Net income from continuing operations | 26,890 | 18,439 | 83,744 | 58,912 |
| Income from discontinued operations, net of tax | — | 1,665 | — | 17,126 |
| Loss on disposal of discontinued operations, net of tax | — | (40,646) | — | (130,073) |
| Net loss from discontinued operations | — | (38,981) | — | (112,947) |
| Net income (loss) | 26,890 | (20,542) | 83,744 | (54,035) |
| Dividends on preferred stock | (3,600) | (3,600) | (10,800) | (4,640) |
| Net income (loss) available to common shareholders | $23,290 | $(24,142) | $72,944 | $(58,675) |
| Basic earnings (loss) per share | ||||
| Earnings per common share from continuing operations | $0.93 | $0.60 | $2.91 | $2.19 |
| Loss per common share from discontinued operations | $— | $(1.57) | $— | $(4.55) |
| Earnings (loss) per common share | $0.93 | $(0.97) | $2.91 | $(2.37) |
| Diluted earnings (loss) per share | ||||
| Earnings per common share from continuing operations | $0.92 | $0.59 | $2.86 | $2.17 |
| Loss per common share from discontinued operations | $— | $(1.56) | $— | $(4.52) |
| Earnings (loss) per common share | $0.92 | $(0.97) | $2.86 | $(2.35) |
| Weighted average shares outstanding - Basic | 25,077 | 24,867 | 25,024 | 24,804 |
| Weighted average shares outstanding - Diluted | 29,330 | 24,995 | 29,278 | 24,984 |
| Cash dividends declared per common share | $0.17 | $0.17 | $0.51 | $0.51 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.