AZZ 2026年季度报告

FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May31, 2026or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or anemerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☒Acceleratedfiler☐Non-accelerated filer☐Smallerreportingcompany☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒As of July1, 2026, the registrant had outstanding 30,051,501 shares of common stock; $1.00 par value per share. PARTI.FINANCIAL INFORMATIONItem1.Financial Statements(Unaudited)Condensed Consolidated Balance SheetsCondensed Consolidated Statements of OperationsCondensed Consolidated Statements of Comprehensive Income (Loss)Condensed Consolidated Statements of Cash FlowsCondensed Consolidated Statements of Changes in Shareholders' EquityNotes to Condensed Consolidated Financial StatementsItem2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and Procedures PARTII.OTHER INFORMATIONItem1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem 5.Other InformationItem6.ExhibitsSIGNATURES AZZ INC.CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except par value)(Unaudited) AZZ INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share amounts)(Unaudited) AZZ INC.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(In thousands)(Unaudited) Three Months Ended May 31,20262025Net income$52,006$170,908Other comprehensive income (loss):Foreign currency translation adjustments:Unrealized translation gain (loss)(551)1,956Unrealized translation gain (loss) for unconsolidated subsidiary, net of tax(1,142)241Unrealized gain (loss) on derivatives qualified for hedge accounting:Unrealized gain on interest rate swap, net of tax1,361339Amounts reclassified from accumulated other comprehensive income to earnings, net of tax54(48)Unrealized gain on interest rate swap, net of tax for unconsolidated subsidiary—3Other comprehensive income (loss)(278)2,491Comprehensive income$51,728$173,399(1)(2)(3)(4) AZZ INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited) AZZ INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. The Company and Basis of Presentation AZZ Inc. ("AZZ", the "Company", "our" or "we") was established in 1956 and incorporated under the laws of the state of Texas. Weare a provider of hot-dip galvanizing and coil coating solutions to a broad range of end markets in North America. We have three distinctoperating segments: the AZZ Metal Coatings segment, the AZZ Precoat Metals segment, and the AZZ Infrastructure Solutions segment. OurAZZ Metal Coatings segment is a leading provider of metal coating solutions for corrosion protection, including hot-dip galvanizing, spingalvanizing, powder coating, anodizing and plating to the North American steel fabrication industry and other industries. The AZZ PrecoatMetals segment provides aesthetic and corrosion protective coatings and related value-added services for steel and aluminum coil, primarilyserving the construction; appliance; heating, ventilation, and air conditioning (HVAC); container; transportation and other end markets in NorthAmerica. The AZZ Infrastructure Solutions segment ("AIS") represents our 40% non-controlling interest in the AIS Investment Holdings LLC(the "AVAIL JV"). AIS Investment Holdings LLC is primarily dedicated to delivering safe and reliable transmission of power from generationsources to end customers, and automated weld