← AZZ INC
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $61.3m | $45.2m | $51.2m | $48.2m | $39.6m | $84.0m | ($53.0m) | $101.6m | $128.8m | $317.3m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $60.9m | $45.2m | $51.2m | $48.2m | $39.6m | $84.0m | ($61.2m) | $87.2m | $52.4m | $317.3m | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | — | $66.3m | $101.6m | $128.8m | $317.3m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | ($119.3m) | $0 | $0 | — | |
| Depreciation, Depletion and Amortization | $50.4m | $50.5m | $50.2m | $50.2m | $44.6m | $44.7m | $74.6m | $79.4m | $82.2m | $90.1m | |
| Amortization of Intangible Assets | $16.9m | $17.1m | $17.0m | $17.1m | — | $12.3m | $22.6m | $24.0m | $23.1m | $23.1m | |
| Depreciation | $33.4m | $33.4m | $33.2m | $33.1m | $44.6m | $32.4m | $52.0m | $55.5m | $59.1m | $67.0m | |
| Amortization of debt financing costs | $1.3m | $595k | $541k | $538k | $545k | $455k | $11.3m | $12.2m | $12.5m | $13.1m | |
| Depreciation, Amortization and Accretion, Net | $50.4m | $50.5m | $50.2m | $50.2m | $44.6m | $44.7m | $74.6m | $79.4m | $82.2m | $90.1m | |
| Deferred Income Tax Expense (Benefit) | ($1.3m) | ($20.6m) | $3.7m | ($2.6m) | — | $3.4m | $16.1m | $4.8m | $8.1m | $32.8m | |
| Deferred income taxes | $1.5m | ($20.6m) | $3.7m | ($2.6m) | ($1.6m) | $3.5m | $7.0m | $4.7m | $8.0m | $32.8m | |
| Share-based Payment Arrangement, Noncash Expense | $5.9m | $6.1m | $4.7m | $6.3m | — | $9.4m | $8.4m | $9.5m | $13.3m | $14.8m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | $573k | $1.2m | — | $2.2m | $3.0m | $1.7m | $5.2m | $5.1m | |
| Share-based Payment Arrangement, Expense | $5.9m | $6.1m | $4.7m | — | — | — | — | — | — | $2.2m | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | — | — | — | — | — | — | $45.9m | |
| Goodwill and Intangible Asset Impairment | — | — | — | — | — | — | — | — | — | $3.3m | |
| Goodwill, Impairment Loss | — | — | — | $0 | — | $0 | — | — | — | — | |
| Impairment of Intangible Assets, Finite-lived | — | — | — | $9.2m | — | $0 | — | — | — | $3.7m | |
| Restructuring Costs and Asset Impairment Charges | — | — | — | $18.6m | — | ($1.8m) | $0 | — | — | — | |
| Share-based compensation expense | $5.9m | $6.1m | $4.7m | $6.3m | $7.3m | $9.4m | $8.4m | $9.5m | $13.3m | $14.8m | |
| Gain (Loss) on Disposition of Assets | ($6.6m) | ($10.8m) | ($810k) | — | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Intangible Assets | — | — | — | $0 | — | — | ($135k) | — | — | — | |
| Gain (Loss) on Disposition of Business | — | — | $0 | ($18.6m) | — | ($552k) | $0 | — | — | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | ($76k) | ($765k) | ($9k) | $71k | $461k | ($607k) | $1.0m | ($61k) | $368k | $4.4m | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | — | $2.6m | $15.4m | $16.2m | $209.7m | |
| Income Tax Expense (Benefit) | $24.0m | ($14.3m) | $11.8m | $16.7m | — | $22.3m | $22.3m | $28.5m | $41.9m | $103.1m | |
| Other Nonoperating Income (Expense) | $1.2m | ($3.5m) | $1.0m | ($990k) | — | ($600k) | $1.2m | $161k | ($562k) | $1.6m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $4.9m | ($3.5m) | $8.1m | $1.0m | — | $34.6m | $26.5m | ($14.3m) | ($1.8m) | $5.8m | |
| Increase (Decrease) in Inventories | $13.8m | $9.9m | $595k | ($25.9m) | — | $27.9m | $17.2m | ($26.3m) | ($5.0m) | ($214k) | |
| Increase (Decrease) in Accounts Payable | $1.2m | $1.5m | ($171k) | $8.1m | — | $1.3m | ($14.0m) | ($801k) | $23.5m | $11.1m | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | — | — | $0 | — | $1.8m | — | — | — | — | |
| Gain (Loss) on Termination of Lease | — | — | — | — | — | — | — | ($1.3m) | $0 | ($856k) | |
| Goodwill | $306.6m | $321.3m | $323.8m | $356.2m | — | $385.6m | $702.5m | $705.5m | $703.9m | $714.8m | |
| Inventory Write-down | — | — | — | $0 | — | $0 | — | — | — | — | |
| Plus: Redemption premium on Series A Preferred Stock | — | — | — | — | — | — | $0 | $0 | $75.2m | $0 | |
| Bad debt expense (recovery) | $48k | $3.0m | $2.2m | $2.7m | $1.0m | ($377k) | ($58k) | ($67k) | $5.1m | ($78k) | |
| Equity in earnings of unconsolidated entities | — | — | — | — | $0 | $0 | ($2.6m) | ($15.4m) | ($16.2m) | ($209.7m) | |
| Distribution on investment in AVAIL joint venture | — | — | — | — | — | $0 | $0 | $3.1m | $12.6m | $273.2m | |
| Restructuring charges | — | — | $810k | $9.2m | $0 | $0 | — | $0 | $0 | $3.7m | |
| Changes in current assets and current liabilities | — | — | — | — | — | ($32.3m) | ($67.1m) | $54.0m | $17.1m | $597k | |
| Changes in other long-term assets and long-term liabilities | — | — | — | — | — | ($3.5m) | ($5.5m) | ($4.6m) | ($13.1m) | ($5.9m) | |
| Acquisition of subsidiaries, net of cash acquired | ($22.7m) | ($44.8m) | $8.0m | $60.6m | ($4.4m) | ($61.2m) | ($1.3b) | $0 | $0 | ($30.1m) | |
| Proceeds from return of investment on the AVAIL JV | — | — | — | — | — | — | — | $0 | $0 | $13.6m | |
| Redemption of Series A Preferred Stock | — | — | — | — | — | — | $0 | $0 | ($308.9m) | $0 | |
| Proceeds from Revolving Credit Facility | $179.5m | $349.0m | $264.0m | $428.5m | $228.0m | $296.0m | $380.0m | $249.0m | $326.0m | $876.0m | |
| Payments on Revolving Credit Facility | ($211.0m) | ($256.5m) | ($310.0m) | ($466.5m) | ($277.0m) | ($248.0m) | ($362.0m) | ($314.0m) | ($326.0m) | ($706.0m) | |
| Repurchase and retirement of treasury stock | $5.3m | $7.5m | $0 | $5.8m | $48.3m | $30.8m | $0 | $0 | $0 | ($20.0m) | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | — | — | — | — | — | — | ($132.1m) | $0 | $0 | — | |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | — | — | — | — | — | — | $12.8m | $0 | $0 | — | |
| Net Cash Provided by (Used in) Operating Activities | $111.2m | $78.9m | $111.5m | $142.3m | $92.0m | $86.0m | ($21.3m) | $0 | $0 | $525.4m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $41.4m | $29.6m | $25.6m | $32.6m | ($37.1m) | $28.4m | $57.1m | $95.1m | $115.9m | $80.8m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $22.7m | — | $8.0m | $60.6m | — | $61.2m | $1.3b | $0 | $0 | $30.1m | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | — | — | ($55k) | — | — | |
| Net Cash Provided by (Used in) Investing Activities | ($63.3m) | ($73.9m) | ($32.1m) | ($69.3m) | ($28.6m) | ($86.8m) | ($1.2b) | ($95.1m) | ($115.0m) | ($91.5m) | |
| Cash flows from financing activities: | |||||||||||
| Repayments of Long-term Debt | $23.2m | $63.5m | $14.3m | $0 | — | $0 | $87.5m | $1.7m | $1.9m | — | |
| Payments on Securitization Loan Debt | — | — | — | — | — | — | — | $0 | $0 | $20.0m | |
| Payments of debt financing costs | — | — | $0 | $0 | ($592k) | $0 | ($419.8m) | ($50.4m) | ($111.0m) | ($1.8m) | |
| Payments on long-term debt and finance leases | — | — | — | — | — | — | — | $50.4m | $111.0m | $537.7m | |
| Proceeds from Issuance of Common Stock | — | $3.3m | $3.8m | $3.1m | $2.8m | $2.8m | $2.4m | $2.4m | $311.5m | $3.6m | |
| Tax payments related to common stock issued under stock-based plans | — | ($1.2m) | ($573k) | ($1.2m) | ($712k) | ($2.2m) | ($3.0m) | ($1.7m) | ($5.2m) | ($5.1m) | |
| Payments for Repurchase of Common Stock | $5.3m | $7.5m | $0 | $5.8m | — | $30.8m | $0 | $0 | — | $20.0m | |
| Dividends paid | $17 | $18 | $18 | $18 | — | $17 | $23 | $31 | $23 | $23 | |
| Plus: Dividends on Series A Preferred Stock | — | — | — | — | $0 | $0 | $8.2m | $14.4m | $1.2m | $0 | |
| Payments of dividends | ($17) | ($18) | ($18) | ($18) | ($18) | ($17) | ($23) | ($31) | ($23) | ($23) | |
| Net Cash Provided by (Used in) Financing Activities | ($76.6m) | $3.8m | ($74.8m) | ($59.7m) | ($88.4m) | $912k | $1.0b | ($147.9m) | ($138.7m) | ($434.1m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | ($590k) | — | $158k | $505k | $13k | $922k | ($625k) | |
| Effect of exchange rate changes on cash | ($102k) | $781k | ($1.4m) | ($590k) | $3.1m | $158k | $505k | $13k | $922k | ($625k) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $12.7m | — | $245k | ($12.3m) | $1.5m | ($2.9m) | ($783k) | |
| Net increase (decrease) in cash and cash equivalents | ($28.9m) | $9.6m | $3.2m | $12.7m | ($21.9m) | $245k | ($12.3m) | $1.5m | ($2.9m) | ($783k) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $36.7m | — | $15.1m | $2.8m | $4.3m | $1.5m | $705k | |
| Cash and cash equivalents at beginning of period | — | — | $24.0m | $36.7m | $14.8m | $15.1m | $12.1m | $4.3m | $1.5m | $705k | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | $13.0m | — | $6.1m | $78.0m | $97.8m | $75.9m | $43.0m | |
| Income Taxes Paid, Net | — | — | — | $18.8m | — | $31.7m | $24.5m | $20.4m | $31.5m | $76.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.