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AZZ Inc. (AZZ+1.49%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing an increase in sales to $403,654,000 from $381,605,000 in the same quarter the previous year. This increase is attributed to higher volume and pricing in the AZZ Precoat Metals segment.
Cost of sales for the quarter was $305,876,000, compared to $293,456,000 in the same quarter of the previous year. The increase is due to higher production costs.
The company reported a gross margin of $97,778,000 for the quarter, compared to $88,149,000 in the previous year, reflecting improved sales performance.
Selling, general, and administrative expenses increased to $39,243,000 from $35,325,000, primarily due to increased salaries and legal expenses.
Net income for the quarter was $33,603,000, up from $26,890,000 in the previous year. After adjustments, net income available to common shareholders was $33,603,000, compared to $23,290,000 in the previous year.
Cash provided by operating activities was $185,597,000, while cash used in investing and financing activities was $85,100,000 and $103,912,000, respectively.
AZZ had a working capital of $394,405,000 as of November 30, 2024. The company maintains its focus on managing its liquidity and capital resources effectively.
The filing also details the company's financial agreements, including a credit agreement with a syndicate of financial institutions.
AZZ does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on its core business segments and highlights its strategic initiatives in the metal coatings and precoat metals markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AZZ Inc. quarterly 10-Q report dated January 7, 2025. To report an error, please email earnings@qz.com.