AZZ (AZZ) Investor presentation summary

Market position and business model

• #1 independent North American positions in hot-dip galvanizing and U.S. coil coating; 47 metal coatings sites and 14 coil plants.

• TTM sales were $1.75B, adjusted EBITDA $383M and adjusted EBITDA margin 22%; 39 consecutive profitable years.

• Metal Coatings provides galvanizing and surface technologies; Precoat Metals coats steel and aluminum through toll-based models with value-added services.

• Construction represented 58% of coatings sales; infrastructure 12%, industrial 10%, transportation 6%, container 5% and other 4% for the period ended Aug. 31, 2026.

Financial performance and outlook

• FY2026 sales were $1.65B and adjusted EBITDA $367.6M; revised FY2027 guidance is sales of $1.825–$1.875B, adjusted EBITDA of $380–$420M and adjusted diluted EPS of $7.00–$7.30.

• FY2027 guidance assumes $80–$100M capex, $35–$45M interest expense, $100–$140M debt reduction and a 25% annualized effective tax rate; excludes M&A and AVAIL JV income.

• FY2032 goals include $3.0B sales, 23% adjusted EBITDA margin, 10% sales CAGR and 15% EPS CAGR; targeted growth includes 5–7% organic and 3–5% from M&A.

• TTM Metal Coatings adjusted EBITDA margin was 30.4%; consolidated adjusted EBITDA margin was 22% for the period ended Aug. 31, 2026.

Growth drivers and investment

• Secular demand drivers include infrastructure renewal, data-center construction, manufacturing reshoring and substitution toward pre-painted steel and aluminum.

• Washington, Missouri’s ~$125M greenfield aluminum coil-coating facility has 75% of new capacity committed under multi-year take-or-pay contracts; targeted ramp-year production is 45–50k tons and FY2027 earnings accretion is expected.

• FY2027 YTD sales grew 17.7% in Metal Coatings and 6.4% in Precoat Metals; respective sales were $444M and $492M for the six months ended Aug. 31, 2026.

• FY2027 capex is planned at $80–$100M, weighted toward growth; $20M of shares were repurchased YTD, with ~$113M authorization remaining, and the dividend was recently increased 20%.