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10-Q Filing

AZZ INC CIK: 8947 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000008947-19-000136
Period End Date 20190531
Filing Date 20190708
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance azz-20190531.xml
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Accounts Receivable, Allowance for Doubtful Accounts AllowanceForDoubtfulAccountsReceivableCurrent $2.27M USD Point-in-time
Accounts Receivable, Allowance for Doubtful Accounts AllowanceForDoubtfulAccountsReceivableCurrent $5.15M USD Point-in-time
Common Stock, Par Value (usd per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common Stock, Par Value (usd per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common Stock, Shares Authorized (shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Common Stock, Shares Authorized (shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.59M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.94M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $24.00M USD Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $5,154 as of May 31, 2019 and $2,267 as of February 28, 2019) AccountsReceivableNetCurrent $159.23M USD Point-in-time
Common Stock, Shares Issued (shares) CommonStockSharesIssued 26.11M shares Point-in-time
Common Stock, Shares Issued (shares) CommonStockSharesIssued 26.15M shares Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $5,154 as of May 31, 2019 and $2,267 as of February 28, 2019) AccountsReceivableNetCurrent $144.89M USD Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 26.15M shares Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 26.11M shares Point-in-time
Raw material InventoryRawMaterials $101.43M USD Point-in-time
Raw material InventoryRawMaterials $94.41M USD Point-in-time
Work-in-process InventoryWorkInProcess $12.64M USD Point-in-time
Work-in-process InventoryWorkInProcess $19.07M USD Point-in-time
Finished goods InventoryFinishedGoods $11.37M USD Point-in-time
Finished goods InventoryFinishedGoods $4.15M USD Point-in-time
Contract assets ContractWithCustomerAssetNet $75.56M USD Point-in-time
Contract assets ContractWithCustomerAssetNet $95.54M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssets $10.36M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssets $9.24M USD Point-in-time
Total current assets AssetsCurrent $396.94M USD Point-in-time
Total current assets AssetsCurrent $378.55M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $210.23M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $206.31M USD Point-in-time
Operating Lease, Right-of-Use Asset OperatingLeaseRightOfUseAsset $45.87M USD Point-in-time
Operating Lease, Right-of-Use Asset OperatingLeaseRightOfUseAsset $46.98M USD Point-in-time
Goodwill Goodwill $323.76M USD Point-in-time
Goodwill Goodwill $360.06M USD Point-in-time
Intangibles and other assets, net IntangibleAssetsNetExcludingGoodwill $125.39M USD Point-in-time
Intangibles and other assets, net IntangibleAssetsNetExcludingGoodwill $130.17M USD Point-in-time
Total assets Assets $1.09B USD Point-in-time
Total assets Assets $1.14B USD Point-in-time
Accounts payable AccountsPayableCurrent $53.05M USD Point-in-time
Accounts payable AccountsPayableCurrent $60.44M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $5.27M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $632.00K USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $17.89M USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $30.39M USD Point-in-time
Other accrued liabilities OtherLiabilitiesCurrent $26.38M USD Point-in-time
Other accrued liabilities OtherLiabilitiesCurrent $17.63M USD Point-in-time
Customer deposits CustomerAdvancesCurrent $514.00K USD Point-in-time
Customer deposits CustomerAdvancesCurrent $481.00K USD Point-in-time
Contract liabilities ContractWithCustomerLiability $22.32M USD Point-in-time
Contract liabilities ContractWithCustomerLiability $22.70M USD Point-in-time
Contract liabilities ContractWithCustomerLiability $56.93M USD Point-in-time
Contract liabilities ContractWithCustomerLiability $21.84M USD Point-in-time
Operating Lease, Liability, Current OperatingLeaseLiabilityCurrent $5.66M USD Point-in-time
Operating Lease, Liability, Current OperatingLeaseLiabilityCurrent $5.95M USD Point-in-time
Total current liabilities LiabilitiesCurrent $138.77M USD Point-in-time
Total current liabilities LiabilitiesCurrent $164.77M USD Point-in-time
Debt due after one year, net LongTermDebtNoncurrent $240.75M USD Point-in-time
Debt due after one year, net LongTermDebtNoncurrent $296.78M USD Point-in-time
Operating Lease, Liability, Noncurrent OperatingLeaseLiabilityNoncurrent $41.19M USD Point-in-time
Operating Lease, Liability, Noncurrent OperatingLeaseLiabilityNoncurrent $42.04M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.60M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.51M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $37.24M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $36.62M USD Point-in-time
Total liabilities Liabilities $484.84M USD Point-in-time
Total liabilities Liabilities $516.42M USD Point-in-time
Common stock, $1 par, shares authorized 100,000; 26,152 shares issued and outstanding at May 31, 2019 and 26,115 shares issued and outstanding at February 28, 2019 CommonStockValue $26.11M USD Point-in-time
Common stock, $1 par, shares authorized 100,000; 26,152 shares issued and outstanding at May 31, 2019 and 26,115 shares issued and outstanding at February 28, 2019 CommonStockValue $26.15M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $46.14M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $46.76M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $577.07M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $560.22M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-28.75M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-30.73M USD Point-in-time
Total shareholders equity StockholdersEquity $619.26M USD Point-in-time
Total shareholders equity StockholdersEquity $603.73M USD Point-in-time
Total shareholders equity StockholdersEquity $565.20M USD Point-in-time
Total shareholders equity StockholdersEquity $577.12M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.09B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.14B USD Point-in-time
Income Statement 26 line items
Line Item Tag Value Unit Period
Revenues Revenues $289.12M USD 1 Quarter
Revenues Revenues $262.24M USD 1 Quarter
Cost of Revenue CostOfRevenue $223.02M USD 1 Quarter
Cost of Revenue CostOfRevenue $203.53M USD 1 Quarter
Gross margin GrossProfit $58.70M USD 1 Quarter
Gross margin GrossProfit $66.11M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $35.13M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $35.01M USD 1 Quarter
Operating income OperatingIncomeLoss $23.70M USD 1 Quarter
Operating income OperatingIncomeLoss $30.97M USD 1 Quarter
Interest expense InterestExpense $3.58M USD 1 Quarter
Interest expense InterestExpense $3.84M USD 1 Quarter
Other (income) expense, net OtherNonoperatingIncomeExpense $291.00K USD 1 Quarter
Other (income) expense, net OtherNonoperatingIncomeExpense $-424.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $20.15M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $26.97M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $4.43M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $5.68M USD 1 Quarter
Net income NetIncomeLoss $21.28M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Basic Earnings Per Share (usd per share) EarningsPerShareBasic $0.60 USD 1 Quarter
Basic Earnings Per Share (usd per share) EarningsPerShareBasic $0.81 USD 1 Quarter
Diluted Earnings Per Share (usd per share) EarningsPerShareDiluted $0.60 USD 1 Quarter
Diluted Earnings Per Share (usd per share) EarningsPerShareDiluted $0.81 USD 1 Quarter
Common Stock, Dividends, Per Share, Declared CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Common Stock, Dividends, Per Share, Declared CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $21.28M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $2.62M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $1.81M USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $13.07M USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $12.33M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $639.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $668.00K USD 1 Quarter
Net (gain) loss on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-212.00K USD 1 Quarter
Net (gain) loss on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $200.00K USD 1 Quarter
Amortization of deferred borrowing costs AmortizationOfFinancingCosts $136.00K USD 1 Quarter
Amortization of deferred borrowing costs AmortizationOfFinancingCosts $138.00K USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.35M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.36M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $14.23M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $29.58M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-7.68M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.36M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $5.93M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.24M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-185.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $1.15M USD 1 Quarter
Net change in contract assets and liabilities IncreaseDecreaseInBillingInExcessOfCostOfEarnings $-20.44M USD 1 Quarter
Net change in contract assets and liabilities IncreaseDecreaseInBillingInExcessOfCostOfEarnings $-55.09M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $5.58M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $7.07M USD 1 Quarter
Other accrued liabilities and income taxes payable IncreaseDecreaseInOtherOperatingLiabilities $7.56M USD 1 Quarter
Other accrued liabilities and income taxes payable IncreaseDecreaseInOtherOperatingLiabilities $-1.15M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-12.37M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-18.59M USD 1 Quarter
Proceeds from sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $210.00K USD 1 Quarter
Purchase of Property, Plant and Equipment PaymentsToAcquirePropertyPlantAndEquipment $2.85M USD 1 Quarter
Purchase of Property, Plant and Equipment PaymentsToAcquirePropertyPlantAndEquipment $4.69M USD 1 Quarter
Acquisition of Subsidiaries, Net of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired $8.00M USD 1 Quarter
Acquisition of Subsidiaries, Net of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired $38.99M USD 1 Quarter
Net Cash From Investing Activities NetCashProvidedByUsedInInvestingActivities $-43.47M USD 1 Quarter
Net Cash From Investing Activities NetCashProvidedByUsedInInvestingActivities $-10.85M USD 1 Quarter
Proceeds from revolving loan ProceedsFromLinesOfCredit $187.00M USD 1 Quarter
Proceeds from revolving loan ProceedsFromLinesOfCredit $102.50M USD 1 Quarter
Payments on revolving loan RepaymentsOfLinesOfCredit $67.00M USD 1 Quarter
Payments on revolving loan RepaymentsOfLinesOfCredit $131.00M USD 1 Quarter
Payments on Long Term Debt RepaymentsOfLongTermDebt - USD 1 Quarter
Payments on Long Term Debt RepaymentsOfLongTermDebt $14.29M USD 1 Quarter
Payments of Dividends PaymentsOfDividends $4.44M USD 1 Quarter
Payments of Dividends PaymentsOfDividends $4.42M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $16.80M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $51.56M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $77.00K USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-498.00K USD 1 Quarter
Net Increase (Decrease) In Cash & Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-6.92M USD 1 Quarter
Net Increase (Decrease) In Cash & Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-10.42M USD 1 Quarter
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $13.59M USD Point-in-time
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $13.94M USD Point-in-time
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $24.00M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $13.59M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $13.94M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $24.00M USD Point-in-time
Cash Paid For Interest InterestPaid $1.60M USD 1 Quarter
Cash Paid For Interest InterestPaid $2.46M USD 1 Quarter
Cash Paid For Income Taxes IncomeTaxesPaid $567.00K USD 1 Quarter
Cash Paid For Income Taxes IncomeTaxesPaid $670.00K USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $619.26M USD Point-in-time
Balance StockholdersEquity $603.73M USD Point-in-time
Balance StockholdersEquity $565.20M USD Point-in-time
Balance StockholdersEquity $577.12M USD Point-in-time
Stock Compensation StockIssuedDuringPeriodValueShareBasedCompensation $1.36M USD 1 Quarter
Stock Compensation StockIssuedDuringPeriodValueShareBasedCompensation $1.35M USD 1 Quarter
Restricted Stock Units StockIssuedDuringPeriodValueRestrictedStockAwardGross $-519.00K USD 1 Quarter
Restricted Stock Units StockIssuedDuringPeriodValueRestrictedStockAwardGross $-691.00K USD 1 Quarter
Stock Issued For Stock Appreciation Rights StockIssuedForStockAppreciationRights $1.00K USD 1 Quarter
Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.33M USD 1 Quarter
Cash Dividend Paid DividendsCash $4.42M USD 1 Quarter
Cash Dividend Paid DividendsCash $4.44M USD 1 Quarter
Net income NetIncomeLoss $21.28M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Foreign Currency Translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.96M USD 1 Quarter
Foreign Currency Translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-2.26M USD 1 Quarter
Interest rate swap OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Interest rate swap OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Balance StockholdersEquity $619.26M USD Point-in-time
Balance StockholdersEquity $603.73M USD Point-in-time
Balance StockholdersEquity $565.20M USD Point-in-time
Balance StockholdersEquity $577.12M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Interest rate swap, income tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $7.00K USD 1 Quarter
Interest rate swap, income tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $7.00K USD 1 Quarter
Net income NetIncomeLoss $21.28M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Foreign currency translation adjustments, net of income tax of $0 OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.96M USD 1 Quarter
Foreign currency translation adjustments, net of income tax of $0 OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-2.26M USD 1 Quarter
Interest rate swap, net of income tax of $7 and $7, respectively. OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Interest rate swap, net of income tax of $7 and $7, respectively. OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-1.97M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-2.27M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $13.45M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $19.31M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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