Here are 1-3 brief analogies to describe AZZ Inc.:

• Think of it as a blend of PPG Industries, safeguarding industrial metals from corrosion, and Eaton, providing specialized electrical components for critical infrastructure.
• Like a specialized, industrial-focused version of Honeywell or 3M, providing essential, often unseen, protection and power solutions for critical infrastructure.

• Hot-dip Galvanizing: A process of immersing fabricated steel in molten zinc to provide superior corrosion protection.
• Spin Galvanizing: A specialized hot-dip galvanizing method used for smaller parts, often involving centrifugation to remove excess zinc.
• Powder Coating: A dry finishing process where finely ground pigment and resin particles are electrostatically applied to a surface and then cured.
• Anodizing: An electrolytic passivation process that increases the thickness of the natural oxide layer on metal surfaces for enhanced durability and corrosion resistance.
• Plating: The process of depositing a thin layer of metal onto a surface, typically to improve its appearance, durability, or electrical properties.
• Custom Switchgear: Engineered electrical equipment used to control, protect, and isolate electrical circuits and equipment in industrial applications.
• Electrical Enclosures: Protective housings designed to contain electrical components, preventing electric shock and protecting against environmental factors.
• Medium and High Voltage Bus Ducts: Enclosed systems for efficiently conducting electricity at various voltage levels in industrial and power distribution settings.
• Hazardous Duty Lighting: Specialized lighting fixtures designed to operate safely and effectively in potentially explosive or corrosive industrial environments.
• Tubular Products: Industrial products made from metal tubes, serving various structural, conduit, or protective applications.
• Engineering Services: Provides technical expertise, design solutions, and resources to support industrial and electrical applications for multi-national companies.

Thomas E. Ferguson, President and Chief Executive Officer

Thomas E. Ferguson has served as AZZ's President and Chief Executive Officer since November 2013, leading the company for over 12 years. Prior to joining AZZ, he was the interim CEO of FlexSteel Pipeline Technologies in 2013. Ferguson built an extensive career at Flowserve, a global manufacturer of engineered pumps and mechanical seals, where he spent 25 years in various senior leadership roles, including President of the Flow Solutions Group and President of the Pump Division. He has been instrumental in AZZ's strategic growth, including the acquisition of Precoat Metals.

Jason Crawford, Chief Financial Officer

Jason Crawford was appointed Chief Financial Officer of AZZ Inc. effective June 3, 2024. He holds an MBA from Washington University in St. Louis and a Bachelor of Arts in Accounting from the University of Abertay, Scotland. Before his current role, Crawford served as Senior Vice President - Finance for AZZ Precoat Metals. Notably, prior to AZZ's acquisition of Precoat Metals in 2022, he was the CFO of Precoat Metals/Sequa Corporation, a company that was previously owned by the global investment firm Carlyle, indicating a pattern of managing a company backed by a private equity firm. His career spans over two decades in senior accounting and finance positions, including leadership roles at Boston Scientific and CTS Corporation.

Bryan Stovall, Chief Operating Officer – Metal Coatings

Bryan Stovall serves as the Chief Operating Officer of the Metal Coatings segment. He previously held the title of Senior Vice President of AZZ Incorporated. As of March 1, 2026, he will be succeeded by Todd Bella as President – Metal Coatings but will continue as COO – Metal Coatings until June 8, 2026, to ensure a smooth transition.

Gary Hill, Chief Operating Officer – Infrastructure Solutions

Gary Hill holds the position of Chief Operating Officer for AZZ's Infrastructure Solutions segment.

Tara D. Mackey, Chief Legal Officer and Secretary

Tara D. Mackey serves as the Chief Legal Officer and Corporate Secretary for AZZ Inc.

1. Exposure to Cyclical Markets and Economic Volatility: A significant portion of AZZ's revenue, estimated at 50% to 60%, is derived from cyclical markets such as construction (nonresidential, HVAC, appliance), industrial, and metal coatings sectors. A prolonged economic downturn, a softening in these markets, inflation, or political instability can negatively impact demand for its services and products, thereby affecting its volume and earnings.

2. Input Cost Volatility and Supply Chain Risks: AZZ is exposed to price fluctuations in key raw materials, including zinc and natural gas for its hot-dip galvanizing process, and paint for its coil coating segment. Increases in these input costs, along with rising labor expenses, can directly impact the company's profitability. Additionally, vulnerabilities in the supply chain, such as vendor delays, pose ongoing operational challenges.

3. Interest Rate Risk and Debt Structure: A considerable portion of AZZ's debt is subject to variable interest rates. Consequently, unexpected interest rate hikes could lead to increased borrowing costs, which would directly reduce net income.

The ongoing global energy transition towards decentralized power generation (e.g., solar, wind, battery storage) and the development of smart grids presents an emerging threat to AZZ's Infrastructure Solutions segment. As the electrical grid evolves towards more distributed, localized, and digitally integrated systems, the demand for traditional, large-scale electrical infrastructure components, such as custom high-voltage switchgear and medium/high voltage bus ducts, may shift dramatically. This could reduce the need for AZZ's current specialized offerings in these areas, favoring different, potentially smaller, more modular, and "smarter" components that are better suited for the new grid architecture, if AZZ does not adapt its product and service portfolio accordingly.

AZZ Inc. operates in two main segments: Metal Coatings and Infrastructure Solutions. The addressable markets for these segments are as follows:

Metal Coatings Segment

The global metal coatings market, which includes hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating, was valued at approximately USD 17.41 billion in 2024. This market is projected to grow to USD 31.47 billion by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from 2026 to 2033.

• North America: This region is a significant market for metal coatings, holding approximately 35% of the global market share.
• Asia-Pacific: This region accounted for 46.95% of global metal coatings sales in 2025 and is projected to grow at a CAGR of 6.41% through 2031.

Infrastructure Solutions Segment

For AZZ's specialty electrical equipment and engineered services, including custom switchgear, electrical enclosures, medium and high voltage bus ducts, and explosion-proof and hazardous duty lighting, the relevant market is the electric power transmission and distribution equipment market.

The global electric power transmission and distribution equipment market was valued at USD 259.98 billion in 2025 and is expected to reach USD 483.46 billion by 2035, expanding at a CAGR of approximately 6.4% during the forecast period from 2026 to 2035.

• Asia Pacific: This region is the largest in the electric power transmission and distribution equipment market, with an estimated 52.6% share by 2035. It also dominated the market with more than a 52.0% revenue share in 2021.
• North America: This region is identified as the fastest-growing region in the electric power transmission and distribution equipment market.

AZZ Inc. (NYSE: AZZ) anticipates several key drivers to fuel its revenue growth over the next two to three years, stemming from strategic market positioning, infrastructure investments, and operational expansions.

1. Increased Infrastructure Spending: A significant driver for AZZ is the continued robust demand from public infrastructure projects. This includes investments in highway construction, new bridge projects, and general infrastructure renovations across the United States. The company expects a multi-year tailwind from such spending, particularly in the energy and power generation sectors, benefiting both its Metal Coatings and Infrastructure Solutions segments.
2. Expansion in Data Center and Clean Energy Markets: Accelerated growth in data center build-outs and increasing demand from renewable energy projects, such as solar power generation, are expected to drive revenue. These sectors require specialized coatings and galvanized materials, directly impacting demand for AZZ's products and services in both its Metal Coatings and Infrastructure Solutions segments.
3. Strategic Acquisitions: AZZ is actively evaluating strategic and bolt-on acquisitions to strengthen its market position and extend its leadership in metal coatings. For example, the acquisition of Canton Galvanizing, LLC in July 2025, is a recent step in this strategy, aiming to boost metal coating capacity and expand geographical reach, reinforcing the company's focus on critical infrastructure and industrial markets.
4. Ramp-up of New Production Facilities: The newly constructed Washington, Missouri plant is expected to contribute to revenue growth, with guidance indicating it will be accretive to earnings in fiscal year 2027. This new facility represents an increase in growth capital and supports increased capacity for metal coatings.
5. Market Share Expansion: The company aims for sustainable market share expansion, particularly within its Precoat Metals segment. This includes gaining incremental market share from pre-painted steel and aluminum imports and converting customers from in-house painting to outsourced pre-coating solutions. Operational improvements and investments in production lines and systems are also geared towards supporting this growth.

Share Repurchases

• AZZ's Board of Directors approved a new $100 million stock repurchase program on January 30, 2026, effective immediately.
• This new program complements a prior $100 million authorization from November 2020, under which approximately $33.2 million remained available as of November 30, 2025.
• In fiscal year 2022, the company repurchased 601,822 shares of common stock for $30.8 million, while no shares were repurchased in fiscal year 2023 to prioritize debt repayment.

Share Issuance

• On April 30, 2024, AZZ completed a secondary public offering, issuing 4.6 million common shares.
• In fiscal year 2025, AZZ completed a secondary public offering of common stock and fully redeemed its Series A Preferred Stock, thereby simplifying its equity structure.

Outbound Investments

• On May 13, 2022, AZZ acquired Precoat Metals for approximately $1.3 billion, significantly expanding its metal coil coating solutions business.
• In July 2025, AZZ acquired Canton Galvanizing, LLC to expand its metal coatings presence in the Midwest region of the United States.
• On September 30, 2022, AZZ contributed its Infrastructure Solutions business (excluding AZZ Crowley Tubing) to the AVAIL JV and sold a 60% interest to Fernweh AIS Acquisition LP. The AVAIL JV subsequently sold its Electrical Products Group for $975 million, with AZZ utilizing its proceeds for debt repayment.

Capital Expenditures

• Capital expenditures totaled $95.1 million in fiscal year 2024 and $115.9 million in fiscal year 2025, with $52.8 million in FY2025 allocated to the new greenfield facility in Washington, Missouri.
• Expected capital expenditures are approximately $60 - $80 million for fiscal year 2026 and $80 - $100 million for fiscal year 2027, focusing on capacity additions for organic growth.
• AZZ invested $125 million in a new aluminum coil coating line, completed in Q4 FY25, which is projected to generate over $50 million in run-rate contracted sales exiting fiscal year 2026.