Azz inc. reports fiscal year 2024 third quarter results

Azz delivers growth in sales, profits, and cash flow supporting debt pay down narrowing annual guidance fort worth, texas , jan. 9, 2024 /prnewswire/ -- azz inc. (nyse: azz), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced financial results for the third quarter ended november 30, 2023.  third quarter  overview  (results from continuing operations as compared to prior year(1)): total sales $381.6 million, up 2.2% metal coatings sales of $163.2 million, up 3.1% precoat metals sales of $218.4 million, up 1.6% diluted eps of $0.92, up 55.9% versus prior year, adjusted eps of $1.19, up 52.6% net income of $26.9 million, up 45.8% adjusted net income of $34.8 million, up 78.3% adjusted ebitda $86.4 million or 22.6% of sales, versus prior year of $68.9 million or 18.5% of sales segment ebitda margin of 30.0% for metal coatings and 18.4% for precoat metals reduced debt by $25.0 million in the quarter, resulting in net leverage of 3.1x   (1) adjusted net income, adjusted eps, and adjusted ebitda are non-gaap financial measures as defined and reconciled in the tables below.
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