Thursday, October 15, 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.
FY 2027 Second Quarter Results Exceed Expectations. AZZ reported adjusted net income of $60.1 million, or $2.00 per diluted share, compared with $46.9 million, or $1.55 per share, in the prior-year period. 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 adjusted EBITDA rose 25.0% to $110.9 million, exceeding our $101.6 million estimate. Adjusted 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 adjusted EBITDA margins were 30.7% and 21.2%, respectively.
FY 2027 Corporate Guidance Raised. Reflecting strong first-half results and sustained operating momentum, management increased FY 2027 revenue guidance to $1.825 to $1.875 billion from $1.800 to 1.850 billion. Adjusted EBITDA guidance increased to $380 to $420 million from $375 to $415 million, while adjusted diluted EPS guidance rose to $7.00 to $7.30 from $6.75 to $7.15.
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