Azz inc. reports results for first quarter of fiscal year 2022; generates eps of $0.88 and revises guidance

Fort worth, texas, july 9, 2021 /prnewswire/ -- azz inc. (nyse: azz), a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services today announced financial results for the first quarter of fiscal year 2022, ended may 31, 2021.  first quarter overview: strong year-over-year financial results reported diluted earnings per share of $0.88, up 319.0%, and reported net income of $22.3 million, up 303.1% versus last year's period sales of $229.8 million, up 7.8% versus last year's period metal coatings segment versus same quarter, prior year: sales of $127.7 million, up 7.3% operating income of $31.6 million, up 25.9% operating margins of 24.7%, compared with 21.1% in prior year quarter infrastructure solutions segment versus same quarter, prior year: sales of $102.1 million, up 8.3% operating income of $9.6 million, versus loss of $(1.0) million in prior year quarter operating margins of 9.4% compared with loss of (1.1)% in prior year quarter declared quarterly cash dividend in the amount of $0.17 per common share repurchased 125,770 shares, totaling $6.3 million management discussion tom ferguson, president and chief executive officer of azz, commented, "we are off to a solid start in fiscal 2022 with strong operating performance in the first quarter, including sales increasing 7.8%, operating income up 114.5% and net income up threefold.
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