Wednesday, October 14, 2026
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 FY 2027 Financial Results. AZZ reported adj. net income of $60.1 million, or $2.00 per share, versus $46.9 million, or $1.55 per share, a year ago. Results exceeded our estimates of $54.9 million, or $1.81 per share, by 9.5% and 10.5%, respectively. Revenue increased 16.7% to a record $486.9 million, while adj. EBITDA rose 25.0% to $110.9 million, exceeding our $101.6 million estimate. Adj. EBITDA margin expanded 150 basis points to 22.8%. Metal Coatings revenue increased 22.9% to $233.5 million, while Precoat Metals revenue rose 11.5% to $253.4 million. Segment adj. EBITDA margins were 30.7% and 21.2%, respectively.
FY 2027 Corporate Guidance Raised. Reflecting strong performance and sustained sales momentum, management raised FY 2027 revenue guidance to $1.825–$1.875 billion from $1.800–$1.850 billion. Adj. EBITDA guidance increased to $380–$420 million from $375–$415 million, while adj. EPS guidance rose to $7.00–$7.30 from $6.75–$7.15. The revised outlook reflects contributions from the new Washington, Missouri facility, improved operations, and lower interest expense. Capital expenditures are expected to total $80–$100 million, with debt reduction of $100–$140 million.
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