AZZ INC

For the period ended Nov 30, 2023. Filed Jan 9, 2024.

About this filing

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$132.82+5.7%Stored close · as of Nov 9, 2026

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Contents

Item 1. Condensed Consolidated Balance Sheets

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value)

	As of
	November 30, 2023	February 28, 2023
Assets
Current assets:
Cash and cash equivalents	$7,509	$2,820
Trade accounts receivable, net of allowance for credit losses of $2,096 and $5,752 at November 30, 2023 and February 28, 2023, respectively	142,463	156,443
Other receivables	31,005	26,969
Inventories	126,737	143,920
Contract assets	75,719	79,273
Prepaid expenses and other	9,295	7,991
Total current assets	392,728	417,416
Property, plant and equipment, net	525,338	498,503
Right-of-use assets	22,830	26,392
Goodwill	705,487	702,512
Deferred tax assets	5,820	12,467
Intangible assets, net	451,289	469,392
Investment in joint venture	97,238	84,760
Other assets	8,026	10,037
Total assets	$2,208,756	$2,221,479
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$95,158	$84,256
Income tax payable	45	272
Accrued salaries and wages	25,868	26,262
Other accrued liabilities	72,476	70,047
Lease liability, short-term	6,453	6,403
Total current liabilities	200,000	187,240
Long-term debt, net	980,004	1,058,120
Lease liability, long-term	17,112	20,704
Deferred tax liabilities	33,370	40,536
Other long-term liabilities	57,120	61,419
Total liabilities	1,287,606	1,368,019
Commitments and contingencies (Note 17)
Shareholders’ equity:
Series A Convertible Preferred Stock, $1 par, shares authorized 240; 240 shares issued and outstanding at November 30, 2023 and February 28, 2023	240	240
Common Stock, $1 par value; 100,000 shares authorized; 25,077 and 24,912 shares issued and outstanding at November 30, 2023 and February 28, 2023, respectively	25,077	24,912
Capital in excess of par value	333,555	326,839
Retained earnings	566,235	506,042
Accumulated other comprehensive loss	(3,957)	(4,573)
Total shareholders’ equity	921,150	853,460
Total liabilities and shareholders' equity	$2,208,756	$2,221,479

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.