Steel Products Prices North America

AZZ Focuses on Metal Coatings Business, Achieves Record Sales

Written by Laura Miller

October 11, 2022

Independent hot-dip galvanizer and coil coater AZZ Inc. achieved record sales in the second quarter (ended Aug. 31) of its fiscal 2023 year.

The quarter was the first to include results from Precoat Metals, whose acquisition was completed in May of this year.

azz logo minTotal Q2 sales reached $406.7 million. This includes record sales of $165.8 million from the metal coatings segment, which saw increased galvanized volumes in the renewables, utility, OEM, and construction markets, as well as record sales of $240.9 million from the Precoat Metals segment which saw higher selling prices from paint cost pass-through.

Still, AZZ’s Q2 net loss was $57.57 million compared to net income of just under $19 million in the year-ago quarter.

“We were pleased with our first full quarter as a focused metal coatings business, in what is a traditionally strong season for both segments,” commented president and CEO Tom Ferguson. “As we progress through the seasonally slower back half of the year, our overall outlook remains positive, although we are seeing signs of economic slowing in some areas.”

AZZ is based in Fort Worth, Texas, and operates more than 60 locations across the US and Canada.

By Laura Miller, Laura@SteelMarketUpdate.com

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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