Azz inc. reports results for first quarter of fiscal year 2023; generates eps of $0.96 and adjusted eps of $1.40
Fort worth, texas , july 11, 2022 /prnewswire/ -- azz inc. (nyse: azz), a global provider of metal coating solutions, coil coating solutions, welding solutions, specialty electrical equipment and highly engineered services today announced financial results for the first quarter of fiscal year 2023, ended may 31, 2022. first quarter overview : year-over-year financial results diluted earnings per share (eps), as reported of $0.96, up 9.1% diluted eps, as adjusted of 1.40, up 59.1% sales of $314.4 million, up 36.8% net income, as reported, $24.1 million, up $1.7 million, or 7.8% net income, as adjusted, of 36.0 million, up 61.0% ebitda of $54.2 million, up 26.8% metal coatings segment versus same quarter, prior year: sales of $160.8 million, up 25.9% ebitda of $52.7 million, up 35.0% operating income of $44.4 million, up 40.7% operating margins of 27.6%, up 290 basis points precoat metals segment, acquired may 13, 2022: sales of $43.7 million ebitda of $9.8 million operating income of $6.6 million operating margins of 15.2% infrastructure solutions segment versus same quarter, prior year: sales of $109.9 million, up 7.6% ebitda of $15.3 million, up 11.5% operating income of $12.9 million, up 33.5% operating margins of 11.7%, up 230 basis points management discussion tom ferguson, president and chief executive officer of azz, commented, "we are off to a very good start in fiscal 2023 generating strong operating performance in the first quarter, including sales increasing 36.8%, and operating income up 29.9%.
