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AZZ (AZZ) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Oct 13, 2026 · AZZ (AZZ) Q2 FY27 earnings results →

Q2 FY27 Revenue up 17% year over year to $487M · 12¢ of every $1 of revenue kept as net profit · operating margin 17.2%

AZZ made $487M in Q2 FY27 (+17% Y/Y). Operating margin 17.2%, net earnings $58.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 13, 2026.

Revenue$487M
Year over year+17%
Operating margin17.2%
Net earnings$58.5M
Operating cash flow$103M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $486.9M in Q2 FY27, up 17% year over year and up 9% from the previous quarter.

Gross margin was 25.1%, up 0.8 points from Q2 FY26. Operating profit was $83.8M, a 17.2% margin (up 0.8 points year over year). Of the extra revenue versus Q2 FY26, 22% reached operating profit, above the 16% margin then. Operating expenses grew 17% against revenue growth of 17%. Net earnings were $58.5M, down 35% year over year. The effective tax rate was 26.7%.

Operating cash flow was $102.8M (up 76% year over year), 176% of net earnings. Non-cash charges added back $24.2M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items added $15.3M. Capital expenditures of $18.5M left free cash flow of $84.4M.

Quarterly history

AZZ revenue by quarterAZZ revenue by quarter$352MQ4 FY25$422MQ1 FY26$417MQ2 FY26$426MQ3 FY26$385MQ4 FY26$449MQ1 FY27$487MQ2 FY27
AZZ net earnings by quarterAZZ net earnings by quarter$20.2MQ4 FY25$171MQ1 FY26$89.3MQ2 FY26$41.1MQ3 FY26$15.9MQ4 FY26$52.0MQ1 FY27$58.5MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QOct 13, 2026$487M+17%17.2%$58.5M$103M
Q1 FY2710-QJul 8, 2026$449M+6%17.2%$52.0M$37.1M
Q4 FY2610-KApr 22, 2026$385M+9%14.8%$15.9M$72.6M
Q3 FY2610-QJan 7, 2026$426M+6%16.3%$41.1M$79.7M
Q2 FY2610-QOct 8, 2025$417M+2%16.4%$89.3M$58.4M
Q1 FY2610-QJul 9, 2025$422M+2%16.5%$171M$315M
Q4 FY2510-KApr 21, 2025$352M-4%11.5%$20.2M$64.3M

Charts

AZZ: revenue growth, year over year and quarter over quarterAZZ: revenue growth, year over year and quarter over quarterY/YQ/Q-4%Q4 FY25+2%+20%Q1 FY26+2%-1%Q2 FY26+6%+2%Q3 FY26+9%-10%Q4 FY26+6%+16%Q1 FY27+17%+9%Q2 FY27
Latest (Q2 FY27): Y/Y +17%, Q/Q +9%.
AZZ: where the cash came from (+) and went (−), TTM to Q2 FY27AZZ: where the cash came from (+) and went (−), TTM to Q2 FY27Net borrowing (+) / repaid (−)−$551MOther financing$437MOperating cash flow$292MCapital spending−$77.8MAcquisitions−$57.5MBuybacks−$40.0MOther investing$29.4MDividends−$25.2MTaxes on employees’ shares−$11.2MShares issued$3.7MAsset & business sales$2.1MCash drawn (+) / kept (−)−$1.1M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
AZZ: profit against cash, quarter by quarterAZZ: profit against cash, quarter by quarterNet incomeOperating cash flow$33.6M$66.2MQ3 FY25$20.2M$64.3MQ4 FY25$171M$315MQ1 FY26$89.3M$58.4MQ2 FY26$41.1M$79.7MQ3 FY26$15.9M$72.6MQ4 FY26$52.0M$37.1MQ1 FY27$58.5M$103MQ2 FY27
Latest (Q2 FY27): Net income $58.5M, Operating cash flow $103M.
AZZ: diluted shares by fiscal yearAZZ: diluted shares by fiscal year26MFY2125MFY2225MFY2325MFY2429MFY2530MFY26
+16.0% since FY21: more shares outstanding (issuance, stock pay).
AZZ: long-term debt falling due (FY26)AZZ: long-term debt falling due (FY26)$50.0M2028$130M2029$335M2030
Cash $705K, short-term investments —, long-term debt — at 2026-02-28.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About AZZ

AZZ Inc. ("AZZ", the "Company", "our" or "we") was established in 1956 and incorporated under the laws of the state of Texas. We are a provider of hot-dip galvanizing and coil coating solutions to a broad range of end markets in North America. We have three distinct operating segments: the AZZ Metal Coatings segment, the AZZ Precoat Metals segment, and the AZZ Infrastructure Solutions segment. Our AZZ Metal Coatings segment is a leading provider of metal coating solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing and plating to the North American steel fabrication industry and other industries.

In its own words, from its 10-K, filed Apr 22, 2026.

AZZ against its Coating, Engraving & Allied Services peers

The largest companies of the same SEC industry, each at its latest quarter.

CompanyQuarterRevenueY/YOp. margin
AZZ AZZQ2 FY27$487M+17%17.2%
XPEL XpelQ3 2026$138M+10%15.3%

Source: AZZ 10-Q on SEC EDGAR · CIK 8947 · Coating, Engraving & Allied Services

Guidance and outlook

AZZ Revenue: guidance against what was reportedAZZ Revenue: guidance against what was reportedguided rangereported (above / within / below)FY24FY25$1.6BFY26$1.7BFY27
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
AZZ Tax rate: guidance against what was reportedAZZ Tax rate: guidance against what was reportedguided rangereported (above / within / below)FY24FY2524.5%FY2624.5%FY27
Met or beat 1 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns AZZ and who is buying

Largest holders of AZZ (13F)Largest holders of AZZ (13F)BlackRock$720MVanguard Group$360MVanguard Portfolio Management LLC$276MFMR LLC$225MT. Rowe Price Investment Manageme…$215MCapital International Investors$213MVanguard Capital Management LLC$202MState Street$185MInvesco$145MDimensional Fund Advisors LP$143M
Funds' net buying of AZZ by quarter (13F)Funds' net buying of AZZ by quarter (13F)$7.3M2024-09−$24.8M2024-12$126M2025-03−$27.9M2025-06−$74.0M2025-09$58.4M2025-12−$67.2M2026-03$42.4M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on AZZ

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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