Azz inc. reports fiscal year 2025 first quarter results

Record quarterly sales and margin expansion on organic growth generated significant cash flow fort worth, texas , july 10, 2024 /prnewswire/ -- azz inc. (nyse: azz), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced financial results for the first quarter ended may 31, 2024.  fiscal year 2025 first quarter overview  (as compared to prior year(1)): total sales $413.2 million, up 5.7% metal coatings sales of $176.7 million, up 4.7% precoat metals sales of $236.5 million, up 6.5% net income of $39.6 million, up 38.8%; net loss to common shareholders of $36.8 million reflects the redemption premium payment on the series a preferred stock of $75.2 million adjusted net income of $44.0 million, up 31.9%; adjusted net income for common shareholders of $42.8 million gaap loss of $1.38 per diluted share reflects the redemption premium payment, adjusted diluted eps of $1.46, up 28.1% ebitda of $94.1 million or 22.8% of sales, versus prior year of $85.4 million or 21.8% of sales segment ebitda margin of 30.9% for metal coatings and 20.2% for precoat metals cash flow from operations of $71.9 million supported debt reduction of $25.0 million, resulting in net leverage ratio of 2.8x strengthened balance sheet with secondary public offering of common stock to fully redeem the series a preferred stock (1) adjusted net income, adjusted eps, ebitda and net leverage ratio are non-gaap financial measures as defined and reconciled in the tables below.
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