AZZ Inc., a North American leader in metal coatings and coil coating services, presented at the Small-Cap Virtual Conference on September 23, 2026, highlighting fiscal 2025 results and updated guidance for 2026. The company reported record sales of $1.65 billion and adjusted diluted earnings per share (EPS) of $6.19, marking its 39th consecutive year of profitability. Operating cash flow reached $273 million, with contributions from its Avail joint venture, and consolidated adjusted EBITDA margin stood at 22.3%, up from prior guidance. Metal Coatings, the largest segment, achieved a 31% adjusted EBITDA margin, while AZZ Precoat Metals posted margins of 21% to 22%.
AZZ’s market capitalization hit an all-time high of $4.6 billion, with a stock price around $138.41. The company’s leverage ratio improved to 1.4x debt-to-EBITDA by the end of Q1 fiscal 2026 (May 31, 2025), down from 3.6x in fiscal 2022. Analysts maintained a buy rating with a consensus price target of $164 per share. Dividends increased by 20%, with a 41% year-over-year growth rate over the past 12 months, and share repurchases totaled $20 million in the prior year, leaving $130 million of authorization remaining.
In 2026, AZZ raised sales guidance from $1.725 billion to $1.85 billion (midpoint: $1.825 billion) and adjusted EBITDA guidance from $360 million to $415 million (midpoint: $395 million), alongside EPS guidance of $6.75 to $7.15. The company’s North American footprint includes 47 metal coatings locations, 43 of which are hot-dip galvanizing plants, and 14 coil coating facilities, holding a combined market share of approximately 50% in its segments. Recent expansions include the acquisition of Seattle Galvanizing in July 2025, expanding its Pacific Northwest presence, and the operational launch of a $125 million coil coating facility in Washington, Missouri, secured under a 7-year take-or-pay contract with an anchor customer covering 75% of capacity.
End-market demand remains robust, driven by infrastructure spending under the U.S. Infrastructure Investment and Jobs Act, data center construction, manufacturing reshoring, and a shift toward aluminum in beverage containers. AZZ’s largest end markets include construction (including commercial, residential, and agriculture), infrastructure, and industrial sectors. The company’s operational growth and strategic expansions position it well for continued profitability and expansion.
