AZZ INC
For the period ended May 31, 2024. Filed Jul 10, 2024.
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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.
May 31, 2024 · Filed Jul 10, 2024
AZZ$130.81-1.5%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Comprehensive Income (Loss)
| Three Months Ended May 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net income (loss) available to common shareholders | $(36,796) | $24,922 |
| Other comprehensive income (loss): | ||
| Unrealized translation gain (loss) | (425) | 19 |
| Unrealized translation gain for unconsolidated subsidiary(1) | — | 1,112 |
| Unrealized gain (loss) on derivatives qualified for hedge accounting: | ||
| Unrealized gain (loss) on interest rate swap, net of tax(2) | 2,219 | (3,384) |
| Amounts reclassified from accumulated other comprehensive income to earnings, net of tax(3) | (1,100) | (549) |
| Unrealized gain (loss) on interest rate swap, net of tax for unconsolidated subsidiary(4) | 141 | (165) |
| Other comprehensive income (loss) | 835 | (2,967) |
| Comprehensive income (loss) | $(35,961) | $21,955 |
| (1) Unrealized translation gain for unconsolidated subsidiary is related to our unconsolidated investment in the AVAIL JV and represents our 40% interest in this amount. | ||
| (2) Net of tax expense (benefit) of $625 and ($1,229) for the three months ended May 31, 2024 and May 31, 2023, respectively. | ||
| (3) Net of tax benefit of ($348) and ($199) for the three months ended May 31, 2024 and May 31, 2023, respectively. See Note 8. | ||
| (4) Unrealized gain (loss) on interest rate swap, net of tax for unconsolidated subsidiary is related to our unconsolidated investment in the AVAIL JV and represents our 40% interest in this amount. Net of tax expense (benefit) of $44 and ($60) for the three months ended May 31, 2024 and May 31, 2023, respectively. | ||
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