AZZ (AZZ) 10-Q 10 Oct 23 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Aug. 31, 2023	Sep. 30, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2023
Document Transition Report	false
Entity File Number	1-12777
Entity Registrant Name	AZZ Inc.
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	75-0948250
Entity Address, Address Line One	One Museum Place, Suite 500
Entity Address, Address Line Two	3100 West 7th Street
Entity Address, City or Town	Fort Worth,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76107
City Area Code	817
Local Phone Number	810-0095
Title of 12(b) Security	Common Stock
Trading Symbol	AZZ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,076,871
Entity Central Index Key	0000008947
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--02-28

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Income Statement [Abstract]
Sales	$ 398,542	$ 406,710	$ 789,415	$ 613,844
Costs and Expenses
Cost of sales	301,296	305,155	595,150	452,236
Gross margin	97,246	101,555	194,265	161,608
Selling, general and administrative	36,239	37,414	67,762	69,558
Operating income from continuing operations	61,007	64,141	126,503	92,050
Interest expense	27,770	28,144	56,476	35,615
Equity in (earnings) loss of unconsolidated subsidiaries	(974)	0	(2,394)	0
Other (income) expense, net	(88)	55	(50)	28
Income from continuing operations before income taxes	34,299	35,942	72,471	56,407
Income tax expense	5,967	10,822	15,617	15,922
Net income from continuing operations	28,332	25,120	56,854	40,485
Income from discontinued operations, net of tax	0	6,737	0	15,449
Loss on disposal of discontinued operations, net of tax	0	(89,427)	0	(89,427)
Net income (loss) from discontinued operations	0	(82,690)	0	(73,978)
Net income (loss)	28,332	(57,570)	56,854	(33,493)
Dividends on preferred stock	(3,600)	(1,040)	(7,200)	(1,040)
Net income (loss) available to common shareholders	$ 24,732	$ (58,610)	$ 49,654	$ (34,533)
Basic earnings (loss) per share
Earnings (loss) per common share from continuing operations (in dollars per share)	$ 0.99	$ 0.97	$ 1.99	$ 1.59
Earnings (loss) per common share from discontinued operations (in dollars per share)	0	(3.33)	0	(2.99)
Basic earnings per common share (usd per share)	0.99	(2.36)	1.99	(1.39)
Diluted Earnings (Loss) Per Share [Abstract]
Diluted earnings per common share (usd per share)	0.97	(1.91)	1.95	(1.13)
Earnings (loss) per common share from continuing operations (in dollars per share)	0.97	0.93	1.95	1.57
Earnings (loss) per common share from discontinued operations (in dollars per share)	$ 0	$ (2.85)	$ 0	$ (2.70)
Weighted average shares outstanding
Weighted average number common shares, basic (shares)	25,054,000	24,836,000	24,997,000	24,772,000
Weighted average number common shares, diluted (shares)	29,210,000	29,059,000	29,196,000	27,428,000
Cash dividends declared per common share (usd per share)	$ 0.17	$ 0.17	$ 0.34	$ 0.34

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss) available to common shareholders	$ 24,732	$ (58,610)	$ 49,654	$ (34,533)
Other Comprehensive Income (Loss):
Foreign currency translation	(2,867)	(3,370)	(1,736)	(2,746)
Unrealized gain (loss) on interest rate swap, net of tax	5,531	0	1,982	0
Amounts reclassified from accumulated other comprehensive income to earnings, net of tax	938	0	1,487	0
Other comprehensive income (loss)	1,726	(3,370)	(1,241)	(2,746)
Comprehensive income (loss)	$ 26,458	$ (61,980)	$ 48,413	$ (37,279)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on interest rate swap, tax	$ 2,009	$ 720
Amounts reclassified from accumulated other comprehensive income to earnings, tax	$ (341)	$ (540)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Current assets:
Cash and cash equivalents	$ 2,108	$ 2,820
Accounts receivable, net of allowance for credit losses of $2,137 and $5,752 at February 28, 2023 and February 28, 2022, respectively	183,951	183,412
Inventories:
Raw material	130,230	138,227
Work-in-process	2,186	1,558
Finished goods	4,061	4,135
Contract assets	76,799	79,273
Prepaid expenses and other	10,534	7,991
Total current assets	409,869	417,416
Property, plant and equipment, net	516,499	498,503
Right-of-use assets	24,273	26,392
Goodwill	705,531	702,512
Deferred tax assets	5,820	12,467
Intangibles and other assets, net	467,034	479,429
Total assets	2,214,561	2,221,479
Current liabilities:
Accounts payable	127,408	109,861
Income tax payable	46	272
Accrued salaries and wages	21,307	26,262
Other accrued liabilities	50,984	44,442
Lease liability, short-term	6,572	6,403
Total current liabilities	206,317	187,240
Long-term debt, net	1,002,364	1,058,120
Lease liability, long-term	18,434	20,704
Deferred tax liabilities	31,417	40,536
Other long-term liabilities	57,952	61,419
Total liabilities	1,316,484	1,368,019
Commitments and contingencies (Note 19)
Shareholders' Equity:
Common Stock, $1 par value; 100,000 shares authorized; 25,077 and 24,912 shares issued and outstanding at August 31, 2023 and August 31, 2022, respectively	25,077	24,912
Capital in excess of par value	331,366	326,839
Retained earnings	547,208	506,042
Accumulated other comprehensive loss	(5,814)	(4,573)
Total shareholders’ equity	898,077	853,460
Total liabilities and shareholders' equity	2,214,561	2,221,479
AIS Joint Venture
Inventories:
Investment in joint venture	85,535	84,760
Series A Preferred Stock
Shareholders' Equity:
Series A Convertible Preferred Stock, $1 par, shares authorized 240; 240 shares issued and outstanding at August 31, 2023 and 240000 shares issued and outstanding at August 31, 2022	$ 240	$ 240

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Accounts receivable, allowance for doubtful accounts	$ 2,137	$ 5,752
Common stock, par value (usd per share)	$ 1	$ 1
Common stock, shares authorized (shares)	100,000,000	100,000,000
Common stock, shares, issued (shares)	25,077,000	24,912,000
Common stock, shares, outstanding (shares)	25,077,000	24,912,000
Series A Preferred Stock
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	240,000	240,000
Preferred stock, shares issued (in shares)	240,000	240,000
Preferred stock, shares outstanding (in shares)	240,000	240,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Cash Flows From Operating Activities:
Net income (loss) available to common shareholders	$ 49,654	$ (34,533)
Net income (loss) from discontinued operations	0	73,978
Dividends on preferred stock	7,200	1,040
Net income from continuing operations	56,854	40,485
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Bad debt expense	79	(1)
Depreciation and amortization	38,677	33,875
Deferred income taxes	(2,656)	(21,823)
Equity in earnings of unconsolidated entities	(2,394)	0
Impairment of long-lived assets	0	135
Net (gain) on sale of property, plant and equipment	(13)	(2,742)
Amortization of debt financing costs	6,062	4,661
Share-based compensation expense	4,019	4,770
Changes in current assets and current liabilities	21,384	(12,679)
Changes in other long-term assets and long-term liabilities	(3,672)	(4,670)
Net cash provided by operating activities of continuing operations	118,340	42,011
Cash flows from investing activities
Purchase of property, plant and equipment	(42,726)	(18,696)
Acquisition of subsidiaries, net of cash acquired	0	(1,298,513)
Other investing activities	20	4,089
Net cash used in investing activities of continuing operations	(42,706)	(1,313,120)
Cash flows from financing activities:
Proceeds from issuance of common stock	1,464	1,767
Payments for taxes related to net share settlement of equity awards	(791)	(2,306)
Proceeds from revolving loan	142,000	175,000
Payments on revolving loan	(202,000)	(225,000)
Proceeds from long term debt	0	1,540,000
Payments of debt financing costs	(1,203)	(82,697)
Payments on long term debt and finance leases	(162)	(153,250)
Payments of dividends	(15,687)	(8,418)
Net cash provided by (used in) financing activities of continuing operations	(76,379)	1,245,096
Effect of exchange rate changes on cash	33	2,501
Net cash provided by operating activities from discontinued operations	0	25,098
Net cash used in investing activities from discontinued operations	0	(2,328)
Net cash provided by discontinued operations	0	22,770
Net decrease in cash and cash equivalents	(712)	(742)
Cash and cash equivalents at beginning of period	2,820	15,082
Cash and cash equivalents at end of period	2,108	14,340
Cash and cash equivalents at end of period	2,108	11,340
Less: Cash and cash equivalents from discontinued operations at end of period	$ 0	$ (3,000)

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock Series A Preferred Stock	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss
Balance, beginning balance (shares) at Feb. 28, 2022			24,688
Balance, beginning balance at Feb. 28, 2022	$ 667,365		$ 24,688	$ 85,847	$ 584,154	$ (27,324)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	4,770			4,770
Issuance of Class A convertible preferred stock in exchange for convertible debt (in shares)		240
Issuance of Class A convertible preferred stock in exchange for convertible debt	233,722	$ 240		233,482
Common stock issued under stock-based plans and related income tax expense (shares)			122
Common stock issued under stock-based plans and related income tax expense	(2,306)		$ 122	(2,428)
Common stock issued under employee stock purchase plan (shares)			52
Common stock issued under employee stock purchase plan	1,767		$ 52	1,715
Dividends on preferred stock	(1,040)				(1,040)
Cash dividends paid on common shares	(8,418)				(8,418)
Net income (loss) available to common shareholders	(33,493)				(33,493)
Foreign currency translation	(2,746)					(2,746)
Balance, ending balance (shares) at Aug. 31, 2022		240	24,862
Balance, ending balance at Aug. 31, 2022	859,621	$ 240	$ 24,862	323,386	541,203	(30,070)
Balance, beginning balance (shares) at May. 31, 2022			24,788
Balance, beginning balance at May. 31, 2022	687,559		$ 24,788	85,432	604,039	(26,700)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	2,772			2,772
Issuance of Class A convertible preferred stock in exchange for convertible debt (in shares)		240
Issuance of Class A convertible preferred stock in exchange for convertible debt	233,722	$ 240		233,482
Common stock issued under stock-based plans and related income tax expense (shares)			22
Common stock issued under stock-based plans and related income tax expense	8		$ 22	(14)
Common stock issued under employee stock purchase plan (shares)			52
Common stock issued under employee stock purchase plan	1,766		$ 52	1,714
Dividends on preferred stock	(1,040)				(1,040)
Cash dividends paid on common shares	(4,226)				(4,226)
Net income (loss) available to common shareholders	(57,570)				(57,570)
Foreign currency translation	(3,370)					(3,370)
Balance, ending balance (shares) at Aug. 31, 2022		240	24,862
Balance, ending balance at Aug. 31, 2022	859,621	$ 240	$ 24,862	323,386	541,203	(30,070)
Balance, beginning balance (shares) at Feb. 28, 2023		240	24,912
Balance, beginning balance at Feb. 28, 2023	853,460	$ 240	$ 24,912	326,839	506,042	(4,573)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	4,019			4,019
Common stock issued under stock-based plans and related income tax expense (shares)			123
Common stock issued under stock-based plans and related income tax expense	(791)		$ 123	(914)
Common stock issued under employee stock purchase plan (shares)			42
Common stock issued under employee stock purchase plan	1,464		$ 42	1,422
Dividends on preferred stock	(7,200)				(7,200)
Cash dividends paid on common shares	(8,488)				(8,488)
Net income (loss) available to common shareholders	56,854				56,854
Foreign currency translation	(1,736)					(1,736)
Interest rate swap	495					495
Balance, ending balance (shares) at Aug. 31, 2023		240	25,077
Balance, ending balance at Aug. 31, 2023	898,077	$ 240	$ 25,077	331,366	547,208	(5,814)
Balance, beginning balance (shares) at May. 31, 2023		240	25,013
Balance, beginning balance at May. 31, 2023	871,373	$ 240	$ 25,013	326,931	526,729	(7,540)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	2,115			2,115
Common stock issued under stock-based plans and related income tax expense (shares)			22
Common stock issued under stock-based plans and related income tax expense	920		$ 22	898
Common stock issued under employee stock purchase plan (shares)			42
Common stock issued under employee stock purchase plan	1,464		$ 42	1,422
Dividends on preferred stock	(3,600)				(3,600)
Cash dividends paid on common shares	(4,253)				(4,253)
Net income (loss) available to common shareholders	28,332				28,332
Foreign currency translation	(2,867)					(2,867)
Interest rate swap	4,593					4,593
Balance, ending balance (shares) at Aug. 31, 2023		240	25,077
Balance, ending balance at Aug. 31, 2023	$ 898,077	$ 240	$ 25,077	$ 331,366	$ 547,208	$ (5,814)

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	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. 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. The Company's AZZ Metal Coatings segment is a leading provider of metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing and plating to the North American steel fabrication and other industries. The AZZ Precoat Metals segment provides aesthetic and corrosion protective coatings and related value-added services for steel and aluminum coil, primarily serving the construction; appliance; heating, ventilation, and air conditioning (HVAC); container; transportation and other end markets in North America. The AZZ Infrastructure Solutions segment consists of the Company's 40% interest in AIS Investment Holdings LLC (the "AVAIL JV"). AIS Investment Holdings LLC is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in markets worldwide. AIS Investment Holdings LLC was wholly-owned by the Company until September 30, 2022, when AZZ contributed its' AZZ Infrastructure Solutions segment, excluding AZZ Crowley Tubing and excluding certain receivables retained by AZZ ("AIS"), to the AVAIL JV and sold a 60% interest in the AVAIL JV to Fernweh Group LLC ("Fernweh"). For the three and six months ended August 31, 2022, financial data for the AZZ Infrastructure Solutions segment is segregated and reported as discontinued operations. Presentation The accompanying condensed consolidated balance sheet as of February 28, 2023 was derived from audited financial statements. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. These financial statements should be read in conjunction with the audited financial statements and related notes for the fiscal year ended February 28, 2023, included in the Company’s Annual Report on Form 10-K covering such period. Certain previously reported amounts have been reclassified to conform to current period presentation. See Note 3 for more information about results of operations reported in discontinued operations in the consolidated statement of operations and statement of cash flows for the three and six months ended August 31, 2022. The Company's fiscal year ends on the last day of February and is identified as the fiscal year for the calendar year in which it ends. For example, the fiscal year ending February 29, 2024 is referred to as fiscal 2024.

Acquisitions

Acquisitions	6 Months Ended
	Aug. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	2. Acquisitions Precoat Acquisition On May 13, 2022, the Company acquired Precoat Metals for a purchase price of approximately $1.3 billion (the "Precoat Acquisition"). Precoat is the leading independent provider of metal coil coating solutions in North America. The acquisition represented a continued transition of the Company to a focused provider of coating and galvanizing services for critical applications. The Company completed the final purchase accounting valuation during the first quarter of fiscal year 2024. The Company accounted for the Precoat Acquisition as a business combination under the acquisition method of accounting. Goodwill from the acquisition of $527.8 million represents the excess purchase price over the estimated value of net tangible and intangible assets and liabilities assumed, and is expected to be deductible for income tax purposes. The Company's chief operating decision maker assesses performance and allocates resources to Precoat separately from the AZZ Metal Coatings segment; therefore, Precoat is accounted for as a separate segment, the AZZ Precoat Metals segment. See Note 7 for more information about the Company's operating segments. Goodwill from the acquisition was allocated to the AZZ Precoat Metals segment. Assets acquired and liabilities assumed in the Precoat Acquisition were recorded at their estimated fair values as of the acquisition date. See Note 16 for additional information regarding certain environmental liabilities assumed as part of the Precoat Acquisition. When determining the fair values of assets acquired and liabilities assumed, management made significant estimates, judgments and assumptions. The Company engaged third-party valuation experts to assist in determination of fair value of property and equipment, intangible assets, pension benefit obligation and certain other assets and liabilities. Management believes that the current information provides a reasonable basis for the fair values of assets acquired and liabilities assumed. During the first quarter of fiscal 2024, the Company made purchase price allocation adjustments that impacted goodwill, contract assets and accrued expenses. The following table represents the summary of the assets acquired and liabilities assumed, in aggregate, related to the Precoat Acquisition, as of the date of the acquisition (in thousands): May 13, 2022 Assets Accounts receivable $ 77,422 Inventories 43,369 Contract assets 68,314 Prepaid expenses and other 2,247 Property, plant and equipment 305,503 Right-of-use asset 13,753 Goodwill 527,793 Deferred tax asset 8,660 Intangibles and other assets 446,546 Total fair value of assets acquired $ 1,493,607 Liabilities Accounts payable (99,223) Accrued expenses (31,761) Other accrued liabilities (5,330) Lease liability, short-term (2,440) Lease liability, long-term (11,313) Other long-term liabilities (60,091) Total fair value of liabilities assumed $ (210,158) Total purchase price, net of cash acquired $ 1,283,449 Intangible assets include customer relationships, tradenames and technology. Other long-term liabilities include the Company's pension obligation and certain environmental liabilities. See Notes 15 and 16 for more information about these long-term liabilities. Unaudited Pro Forma Information The following unaudited pro forma financial information for the three and six months ended August 31, 2023 and 2022 combines the historical results of the Company and the acquisition of Precoat Metals, assuming that the companies were combined as of March 1, 2022. The pro forma financial information includes business combination accounting effects from the Precoat Acquisition, including amortization expense from acquired intangible assets, depreciation expense from acquired property, plant and equipment, interest expense from financing transactions which occurred to fund the Precoat Acquisition, acquisition-related transaction costs and tax-related effects. The pro forma information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition of Precoat Metals had taken place on March 1, 2022 or of future operating performance. Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Revenue $ 398,542 $ 406,710 789,415 806,864 Net income from continuing operations (1) $ 28,332 $ 25,120 56,854 25,015 (1) Net income for the six months ended August 31, 2022 includes acquisition costs of approximately $45.0 million, of which $11.5 million was incurred by AZZ and $33.5 million was incurred by Precoat Metals prior to the acquisition.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Aug. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	3. Discontinued Operations On September 30, 2022, AZZ contributed its AZZ Infrastructure Solutions ("AIS") segment, excluding AZZ Crowley Tubing, to a joint venture, AIS Investment Holdings LLC (the "AVAIL JV") and sold a 60% interest in the AVAIL JV to Fernweh Group LLC ("Fernweh"). On September 30, 2022, the AVAIL JV was deconsolidated. Beginning October 1, 2022, the Company began accounting for its 40% interest in the AVAIL JV under the equity method of accounting. The AVAIL JV is included in the AZZ Infrastructure Solutions segment. The divestiture of the AZZ Infrastructure Solutions segment represents an intentional strategic shift in our operations and will allow the Company to become a focused provider of coating and galvanizing solutions for critical applications. As a result, the results of the AIS segment were classified as discontinued operations in our condensed statements of operations and excluded from both continuing operations and segment results for the three and six months ended August 31, 2022. As part of recognizing the business as held for sale in accordance with GAAP, the Company was required to measure AIS at the lower of its carrying amount or fair value less cost to sell. As a result of this analysis, during fiscal 2023, the Company recognized an estimated non-cash, pre-tax loss on disposal of $159.9 million, of which $114.9 million was recognized during the three months ended August 31, 2022, and $27.8 million was recognized during the third quarter of fiscal 2023. The loss is included in "Loss on disposal of discontinued operations" in the consolidated statements of operations. The loss was determined by comparing the fair value of the consideration received for the sale of a 60% interest in the AIS JV and the fair value of the Company’s retained 40% investment in the AIS JV with the net assets of the AIS JV immediately prior to the transaction. The fair value of the Company’s retained investment in the AIS JV was determined in a manner consistent with the transaction price received for the sale of the 60% interest in the AIS JV. The results of operations from discontinued operations for the three and six months ended August 31, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands): Three Months Ended Six Months Ended August 31, 2022 August 31, 2022 Sales $ 106,660 $ 213,924 Cost of sales 84,826 167,686 Gross margin 21,834 46,238 Selling, general and administrative 9,710 22,114 Loss on disposal of discontinued operations 114,900 114,900 Operating loss from discontinued operations (102,776) (90,776) Interest expense 5 6 Other (income) expense, net 3,443 4,268 Loss from discontinued operations before income tax (106,224) (95,050) Income tax benefit (23,534) (21,072) Net loss from discontinued operations $ (82,690) $ (73,978) Loss per common share from discontinued operations: Basic loss per share $ (3.33) $ (2.99) Diluted loss per share $ (2.85) $ (2.70) The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands): Six Months Ended August 31, 2022 Depreciation and amortization $ 6,248 Purchase of property, plant and equipment 2,878 Loss on discontinued operations (114,900)

Earnings Per Share

Earnings Per Share	6 Months Ended
	Aug. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	4. Earnings Per Share Basic earnings per share is based on the weighted average number of common shares outstanding during each year. Diluted earnings per share is calculated by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the year. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 28,332 $ 25,120 $ 56,854 $ 40,485 Dividends on preferred stock (3,600) (1,040) (7,200) (1,040) Numerator for basic earnings per share continuing operations $ 24,732 $ 24,080 $ 49,654 $ 39,445 After-tax interest expense for Convertible Notes — 2,006 — 2,554 Dividends on preferred stock 3,600 1,040 7,200 1,040 Numerator for diluted earnings per share continuing operations $ 28,332 $ 27,126 $ 56,854 $ 43,039 Net loss from discontinued operations $ — $ (82,690) $ — $ (73,978) Net income (loss) available to common shareholders $ 24,732 $ (58,610) $ 49,654 $ (34,533) After-tax interest expense for Convertible Notes — 2,006 — 2,554 Dividends on preferred stock 3,600 1,040 7,200 1,040 Numerator for diluted earnings per share—net income (loss) available to common shareholders $ 28,332 $ (55,564) $ 56,854 $ (30,939) Denominator: Weighted average shares outstanding for basic earnings per share 25,054 24,836 24,997 24,772 Effect of dilutive securities: Employee and director stock awards 39 106 82 172 Convertible Notes — 2,953 — 1,902 Series A Convertible Preferred Stock 4,117 1,164 4,117 582 Denominator for diluted earnings per share 29,210 29,059 29,196 27,428 Basic earnings (loss) per share Earnings per common share from continuing operations $ 0.99 $ 0.97 $ 1.99 $ 1.59 Loss per common share from discontinued operations $ — $ (3.33) $ — $ (2.99) Earnings (loss) per common share $ 0.99 $ (2.36) $ 1.99 $ (1.39) Diluted earnings (loss) per share Earnings per common share from continuing operations $ 0.97 $ 0.93 $ 1.95 $ 1.57 Loss per common share from discontinued operations $ — $ (2.85) $ — $ (2.70) Earnings (loss) per common share $ 0.97 $ (1.91) $ 1.95 $ (1.13) For the three months ended August 31, 2023 and 2022, approximately 126,882 and 102,616 shares related to employee equity awards, respectively, were excluded from the computation of diluted earnings per share, as their effect would have been anti-dilutive. For the six months ended August 31, 2023 and 2022, 125,793 and 57,025 shares, respectively, were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive.

Sales

Sales	6 Months Ended
	Aug. 31, 2023
Revenues [Abstract]
Sales	5. Sales Disaggregated Sales The following table presents disaggregated sales, for continuing operations, by customer industry (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Sales: Construction $ 216,807 $ 220,657 $ 422,337 $ 289,882 Industrial 42,245 41,214 82,889 79,182 Consumer 34,673 38,340 70,258 45,421 Transportation 35,869 36,825 72,626 69,097 Electrical/Utility 25,905 24,172 51,312 46,452 Other (1) 43,043 45,502 89,993 83,810 Total Sales $ 398,542 $ 406,710 $ 789,415 $ 613,844 (1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling. See also Note 7 for sales information by operating segment. Contract Assets and Liabilities The timing of revenue recognition, billings and cash collections results in accounts receivable, contract assets (unbilled receivables), and contract liabilities (customer advances and deposits) on the consolidated balance sheets. Our contract assets and contract liabilities are primarily related to the Company’s Precoat Metals segment. Customer billing can occur subsequent to revenue recognition, resulting in contract assets. In addition, the Company can receive advances or deposits from its customers, before revenue is recognized, resulting in contract liabilities. These assets and liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Aug. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	6. Supplemental Cash Flow Information In order to determine net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in thousands): Six Months Ended August 31, 2023 2022 Decrease (increase) in current assets: Accounts receivable, net $ (610) $ (35,813) Inventories 7,460 (16,081) Contract assets 57 (7,751) Prepaid expenses and other (2,544) (9,238) Increase (decrease) in current liabilities: Accounts payable 15,036 32,842 Income taxes payable (226) 7,388 Accrued expenses 2,211 15,974 Changes in current assets and current liabilities $ 21,384 $ (12,679) Cash flows related to interest and income taxes were as follows (in thousands): Six Months Ended August 31, 2023 2022 Cash paid for interest $ 51,539 $ 23,888 Cash paid for income taxes 12,930 10,065 Supplemental disclosures of non-cash investing and financing activities were as follows (in thousands): Six Months Ended August 31, 2023 2022 Issuance of preferred stock in exchange for convertible notes $ — $ 233,722 Accrued dividends on preferred stock 2,400 1,040 Accruals for capital expenditures 5,579 —

Operating Segments

Operating Segments	6 Months Ended
	Aug. 31, 2023
Segment Reporting [Abstract]
Operating Segments	7. Operating Segments Segment Information The Company’s Chief Executive Officer, who is the chief operating decision maker ("CODM"), reviews financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance. Sales and operating income are the primary measures used by the CODM to evaluate segment operating performance and to allocate resources to the AZZ Metal Coatings and the AZZ Precoat Metals segments, and net income is the primary measure used by the CODM to evaluate performance and allocate resources to the AZZ Infrastructure Solutions segment. Expenses related to certain centralized administration or executive functions that are not specifically related to an operating segment are included in Corporate. As presented in Note 3, the AVAIL JV operating results for the period prior to deconsolidation are included within discontinued operations, with the exception of AZZ Crowley Tubing, which was retained by the Company and merged into the AZZ Metal Coatings segment. See Note 3 for the results of operations related to the AZZ Infrastructure Solutions segment. A summary of each of the Company's operating segments is as follows: AZZ Metal Coatings — provides hot-dip galvanizing, spin galvanizing, powder coating, anodizing and plating, and other metal coating applications to the steel fabrication and other industries through facilities located throughout the United States and Canada. Hot-dip galvanizing is a metallurgical manufacturing process in which molten zinc reacts to steel. The zinc alloying provides corrosion protection and extends the life-cycle of fabricated steel for several decades. AZZ Precoat Metals — engages in the advanced application of protective and decorative coatings and related value-added manufacturing for steel and aluminum coil primarily serving the construction; appliance; heating, ventilation and air conditioning (HVAC); container; transportation and other end markets. AZZ Infrastructure Solutions — consists of the equity in earnings of the Company's 40% investment in the AVAIL JV, as well as other expenses directly related to AIS receivables that were retained following the divestiture of the AIS business. The AVAIL JV provides specialized products and services designed to support primarily industrial and electrical applications. The product offerings include custom switchgear, electrical enclosures, medium- and high-voltage bus ducts, explosion proof and hazardous duty lighting products. The AZZ Infrastructure Solutions segment also focuses on life-cycle extension for the power generation, refining and industrial infrastructure, through providing automated weld overlay solutions for corrosion and erosion mitigation. Net income from continuing operations by segment for the three and six months ended August 31, 2023 and 2022 was as follows (in thousands): Three Months Ended August 31, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 169,837 $ 228,705 $ — $ — $ 398,542 Cost of sales 119,471 181,825 — — 301,296 Gross margin 50,366 46,880 — — 97,246 Selling, general and administrative 5,285 7,874 5,932 17,148 36,239 Operating income (loss) from continuing operations $ 45,081 $ 39,006 (5,932) (17,148) 61,007 Interest expense — 27,770 27,770 Equity in earnings of unconsolidated subsidiaries (974) — (974) Other (income) expense — (88) (88) Income (loss) from continuing operations before income tax $ (4,958) (44,830) 34,299 Income tax expense 5,967 5,967 Net income (loss) from continuing operations $ (50,797) $ 28,332 Six Months Ended August 31, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 338,631 $ 450,784 $ — $ — $ 789,415 Cost of sales 237,328 357,822 — — 595,150 Gross margin 101,303 92,962 — — 194,265 Selling, general and administrative 10,751 16,266 5,954 34,791 67,762 Operating income (loss) from continuing operations $ 90,552 $ 76,696 (5,954) (34,791) 126,503 Interest expense — 56,476 56,476 Equity in earnings of unconsolidated subsidiaries (2,394) — (2,394) Other (income) expense — (50) (50) Income (loss) from continuing operations before income tax $ (3,560) (91,217) 72,471 Income tax expense 15,617 15,617 Net income (loss) from continuing operations $ (106,834) $ 56,854 Three Months Ended August 31, 2022 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 165,849 $ 240,861 $ — $ — $ 406,710 Cost of sales 116,437 188,718 — — 305,155 Gross margin 49,412 52,143 — — 101,555 Selling, general and administrative 4,416 15,930 — 17,068 37,414 Operating income (loss) from continuing operations $ 44,996 $ 36,213 — (17,068) 64,141 Interest expense — 28,144 28,144 Other (income) expense — 55 55 Income (loss) from continuing operations before income tax $ — (45,267) 35,942 Income tax expense 10,822 10,822 Net income (loss) from continuing operations $ (56,089) $ 25,120 Six Months Ended August 31, 2022 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 329,293 $ 284,551 $ — $ — $ 613,844 Cost of sales 230,018 222,218 — — 452,236 Gross margin 99,275 62,333 — — 161,608 Selling, general and administrative 9,009 19,472 — 41,077 69,558 Operating income (loss) from continuing operations $ 90,266 $ 42,861 — (41,077) 92,050 Interest expense — 35,615 35,615 Other (income) expense — 28 28 Income (loss) from continuing operations before income tax $ — (76,720) 56,407 Income tax expense 15,922 15,922 Net income (loss) from continuing operations $ (92,642) $ 40,485 (1) Infrastructure Solutions segment includes the Company’s equity in (earnings) loss from its investment in the AVAIL JV, as well as other expenses related to receivables and liabilities that were retained by the Company following the sale of the AIS business. See Note 16 for a description of a legal settlement recognized during the three months ended August 31, 2023 related to AIS business. (2) Interest expense, Other (income) expense and Income tax expense are included in the Corporate segment as these items are not allocated to the segments. (3) For fiscal year 2024, amortization expense for acquired intangible assets is included in Corporate expenses in "Selling, general and administrative" expense as these expenses are not allocated to the segments. Asset balances by operating segment for each period were as follows (in thousands): As of August 31, 2023 February 28, 2023 Assets: Metal Coatings $ 575,330 $ 588,337 Precoat Metals 1,504,940 1,488,810 Infrastructure Solutions - Investment in Joint Venture 85,535 84,760 Corporate 48,756 59,572 Total assets $ 2,214,561 $ 2,221,479 Financial Information About Geographical Areas Financial information about geographical areas for the periods presented was as follows (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Sales: United States $ 388,538 $ 393,835 $ 769,860 $ 588,195 Canada 10,004 12,875 19,555 25,649 Total $ 398,542 $ 406,710 $ 789,415 $ 613,844 As of August 31, 2023 February 28, 2023 Property, plant and equipment, net: United States $ 496,972 $ 478,722 Canada 19,527 19,781 Total $ 516,499 $ 498,503

Investments in Unconsolidated E

Investments in Unconsolidated Entity	6 Months Ended
	Aug. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entity	8. Investments in Unconsolidated Entity AVAIL JV

Derivative Instruments

Derivative Instruments	6 Months Ended
	Aug. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	9. Derivative Instruments Interest Rate Swap Derivative As a policy, the Company does not hold, issue or trade derivative instruments for speculative purposes. The Company may periodically enter into forward sale contracts to purchase a specified volume of zinc at fixed prices. These contracts are not accounted for as derivatives because they meet the criteria for the normal purchases and normal sales scope exception in ASC 815. We manage our exposure to fluctuations in interest rates using a mix of fixed and variable-rate debt. We utilize fixed-rate interest rate swap agreements to change the variable interest rate to a fixed rate on a portion of our variable-rate debt. On September 27, 2022, the Company entered into a fixed-rate interest rate swap agreement with banks that are parties to the 2022 Credit Agreement. On October 7, 2022, the agreement was amended to change the SOFR-based component of the interest rate on a portion of our variable-rate debt to a fixed rate of 4.277%, resulting in a total fixed rate of 8.627% (the "2022 Swap"). On August 17, 2023, the Company repriced its Term Loan B, to which the 2022 Swap is related, to reduce the interest rate to SOFR + 3.75%. Following the repricing, the 2022 Swap has a total fixed rate of 8.027%. The 2022 Swap had an initial notional amount of $550.0 million and a maturity date of September 30, 2025. The notional amount of the interest rate swap decreases by a pro-rata portion of any quarterly principal payments made on the Term Loan B, and the current notional amount is $544.5 million. The objective of the 2022 Swap is to eliminate the variability of cash flows in interest payments attributable to changes in benchmark one-month SOFR interest rates, for approximately one-half of the total amount of our variable-rate debt. The hedged risk is the interest rate risk exposure to changes in interest payments, attributable to changes in benchmark one-month SOFR interest rates over the interest rate swap term. The changes in cash flows of the interest rate swap are expected to exactly offset changes in cash flows of the variable-rate debt. We designated the 2022 Swap as a cash flow hedge at inception. Cash settlements, in the form of cash payments or cash receipts, of the 2022 Swap are recognized in interest expense. At August 31, 2023, changes in fair value attributable to the effective portion of the 2022 Swap were included on the condensed consolidated balance sheets in accumulated other comprehensive income. For derivative instruments that qualify for hedge accounting treatment, the fair value is recognized on our condensed consolidated balance sheets as derivative assets or liabilities with offsetting changes in fair value, to the extent effective, recognized in accumulated other comprehensive income until reclassified into earnings when the interest expense on the underlying debt is reflected in earnings. The portion of a cash flow hedge that does not offset the change in the fair value of the transaction being hedged, which is commonly referred to as

Debt

Debt	6 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
Debt	10. Debt The Company’s long-term debt instruments and balances outstanding for each of the periods presented (in thousands): As of August 31, 2023 February 28, 2023 Revolving Credit Facility $ 35,000 $ 95,000 Term Loan B 1,030,250 1,030,250 Total debt, gross $ 1,065,250 $ 1,125,250 Unamortized debt issuance costs (62,886) (67,130) Long-term debt, net $ 1,002,364 $ 1,058,120 2022 Credit Agreement and Term Loan B The Company has a credit agreement with a syndicate of financial institutions as lenders that was entered into on May 13, 2022 (the "2022 Credit Agreement"). On August 17, 2023, the Company repriced the $1.0 billion Term Loan B, which was outstanding under the 2022 Credit Agreement as of August 31, 2023. The repricing reduced the interest rate margin by 50 basis points to an interest rate of Secured Overnight Financing Rate ("SOFR") plus 3.75% and removed the Credit Spread Adjustment, as defined in the 2022 Credit Agreement, of 10 basis points. The 2022 Credit Agreement includes the following significant terms: i. provides for a senior secured initial term loan in the aggregate principal amount of $1.3 billion (the "Term Loan B"), due May 13, 2029, which is secured by substantially all of the assets of the Company; ii. provides for a maximum senior secured revolving credit facility in the aggregate principal amount of $400.0 million (the "Revolving Credit Facility"), due May 13, 2027; iii. includes a letter of credit sub-facility of up to $100.0 million, which is part of, and not in addition to, the Revolving Credit Facility; iv. borrowings under the Term Loan B bear an interest rate of SOFR plus 3.75% (following the repricing on August 17, 2023 as noted above) and the Revolving Credit Facility bears an interest rate of SOFR plus 4.25%; v. includes customary affirmative and negative covenants, and events of default; including restrictions on the incurrence of non-ordinary course debt, investment and dividends, subject to various exceptions, and; vi. includes a maximum quarterly leverage ratio financial covenant, with reporting requirements to our banking group at each quarter-end; The Company utilizes proceeds from the Revolving Credit Facility primarily to finance working capital needs, capital improvements, dividends, acquisitions and for general corporate purposes. As defined in the credit agreement, quarterly prepayments were due against the outstanding principal of the Term Loan B and were payable on the last business day of each May, August, November and February, beginning August 31, 2022, in a quarterly aggregate principal amount of $3.25 million, with the entire remaining principal amount due on May 13, 2029, the maturity date. Additional prepayments made against the Term Loan B contribute to these required quarterly payments. Due to a prepayment of $240.0 million that the Company made on the Term Loan B during fiscal year 2023 in connection with the sale of the AIS business, the quarterly mandatory principal payment requirement has been met, and the quarterly payments of $3.25 million are no longer required. The weighted average interest rate for the Company's outstanding debt, including the Revolving Credit Facility and the Term Loan B, was 8.56% at August 31, 2023. The Company's credit agreement required the Company to maintain a maximum Total Net Leverage Ratio (as defined in the loan agreement) no greater than 6.25 through November 2022. For each subsequent quarter, the maximum ratio decreased by 25 basis points through May 31, 2024, when the maximum Total Net Leverage Ratio reaches 4.5. As of August 31, 2023, the Company was required to maintain a Total Net Leverage Ratio no greater than 5.25. As of August 31, 2023, we were in compliance with all covenants or other requirements set forth in the debt agreements. As of August 31, 2023, we had $1.07 billion of floating- and fixed-rate debt outstanding on the Revolving Credit Facility and the Term Loan B, with varying maturities through fiscal 2029. As of August 31, 2023, we are in compliance with each of the covenants related to these outstanding borrowings. Additionally, as of August 31, 2023, we had approximately $347.1 million of additional credit available for future draws or letters of credit. Letters of Credit As of August 31, 2023, we had total outstanding letters of credit in the amount of $17.9 million. These letters of credit are issued for a number of reasons, but are most commonly issued in lieu of customer retention withholding payments covering warranty, performance periods and insurance collateral.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Aug. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	11. Fair Value Measurements Recurring Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. In accordance with ASC 820, Fair Value Measurements and Disclosures ("ASC 820"), certain of the Company’s assets and liabilities, which are carried at fair value, are classified in one of the following three categories: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Observable market-based inputs, other than Level 1, or unobservable inputs corroborated by market data. • Level 3: Unobservable inputs that are not corroborated by market data and reflect the Company’s own assumptions. The carrying amount of the Company's financial instruments (cash equivalents, accounts receivable, accounts payable and accrued liabilities) approximates the fair value of these instruments based upon their short-term nature. Interest Rate Swap Agreement The Company’s derivative instrument consists of an interest rate swap contract, which is a Level 2 of the fair value hierarchy and included in "Intangibles and other assets, net" in the condensed consolidated balance sheet as of August 31, 2023. See Note 9 for more information. The Company’s financial instrument that is measured at fair value on a recurring basis as of August 31, 2023 and February 28, 2023 is as follows (dollars in thousands): Carrying Value Carrying Value August 31, Fair Value Measurements Using February 28, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 2023 Level 1 Level 2 Level 3 Assets (Liabilities): Interest Rate Swap Agreement $ 4,447 $ — $ 4,447 $ — $ 3,925 $ — $ 3,925 $ — Total Assets $ 4,447 $ 3,925 Non-recurring Fair Value Measurements Investment in Joint Venture The fair value of the AVAIL JV that is accounted for under the equity method was determined based on the transaction price. Subsequent measurement of the fair value of the AVAIL JV is determined based on the income approach. The income approach uses discounted cash flow models that require various observable and non-observable inputs, such as operating margins, revenues, product costs, operating expenses, capital expenditures, terminal-year values and risk-adjusted discount rates. These valuations resulted in Level 3 nonrecurring fair value measurements. Long-Term Debt The fair value of the Company’s Term Loan B is based on quoted market prices in active markets and is included in the Level 1 fair value hierarchy. The fair value of the Company’s revolving credit facility is estimated based on market values

Leases

Leases	6 Months Ended
	Aug. 31, 2023
Leases [Abstract]
Leases	12. Leases The Company is a lessee under various leases for facilities and equipment. As of August 31, 2023, the Company was the lessee for 156 operating leases and 24 finance leases with terms of 12 months or more. Many of the operating leases either have renewal options of between one and five years or convert to month-to-month agreements at the end of the specified lease term. The Company’s operating leases are primarily for (i) operating facilities, (ii) vehicles and equipment used in operations, (iii) facilities used for back-office functions and (iv) equipment used for back-office functions, and (v) temporary storage. The majority of the Company’s long-term lease expenses have both a fixed and variable component. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company has a significant number of short-term leases, including month-to-month agreements. The Company's short-term lease agreements include expenses incurred hourly, daily, monthly and for other durations of time of one year or less. The Company’s future lease commitments as of August 31, 2023 do not reflect all of the Company’s short-term lease commitments. The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets as of August 31, 2023 and February 28, 2023 (in thousands): Balance Sheet Classification As of August 31, 2023 February 28, 2023 Assets Right-of-use assets Right-of-use assets $ 24,273 $ 26,392 Liabilities Operating lease liabilities ― short-term Lease liability - short-term $ 6,145 $ 6,119 Operating lease liabilities ― long-term Lease liability - long-term 17,093 19,659 Finance lease liabilities ― short-term Lease liability - short-term 427 284 Finance lease liabilities ― long-term Lease liability - long-term 1,341 1,045 Supplemental information related to the Company's portfolio of operating leases from continuing operations was as follows (in thousands, except years and percentages): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Operating cash flows from operating leases included in lease liabilities $ 1,834 $ 1,999 $ 3,654 $ 3,133 Lease liabilities obtained from new ROU assets - operating 373 2,775 1,895 2,885 Decrease in ROU assets related to lease terminations (1,294) — (1,302) — Operating and financing cash flows from financing leases included in lease liabilities 113 49 199 94 Lease liabilities obtained from new ROU assets - financing 599 277 599 277 As of August 31, 2023 February 28, 2023 Weighted-average remaining lease term - operating leases 4.46 years 5.04 years Weighted-average discount rate - operating leases 4.41 % 4.31 % Weighted-average remaining lease term - financing leases 4.31 years 4.61 years Weighted-average discount rate - financing leases 5.39 % 5.15 % The following table outlines the classification of lease expense related to operating leases from continuing operations, in the statements of operations (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Cost of sales $ 3,136 $ 3,214 $ 6,237 $ 5,283 Selling, general and administrative 506 567 1,005 941 Total lease cost $ 3,642 $ 3,781 $ 7,242 $ 6,224 As of August 31, 2023, maturities of the Company's lease liabilities, excluding lease liabilities associated with our discontinued operations, were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2024 $ 3,583 $ 254 $ 3,837 2025 6,505 500 7,005 2026 5,574 423 5,997 2027 4,401 386 4,787 2028 2,435 312 2,747 2029 1,869 101 1,970 Thereafter 1,252 5 1,257 Total lease payments $ 25,619 $ 1,981 $ 27,600 Less imputed interest (2,380) (214) (2,594) Total $ 23,239 $ 1,767 $ 25,006 The Company subleases multiple buildings in Columbia, South Carolina to multiple subtenants. The Columbia sublease agreements are by and between Precoat Metals and multiple subtenants. Sublease income is recognized over the term of the sublease on a straight-line basis and is reported in the consolidated statement of operations in "Cost of sales." The Company recognized $0.2 million and $0.5 million of income from subleases during the three and six months ended August 31, 2023, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Income taxes	13. Income Taxes Continuing Operations The provision for income taxes from continuing operations reflects an effective tax rate of 17.4% for the three months ended August 31, 2023, compared to 30.1% for the three months ended August 31, 2022. The decrease in the effective tax rate is attributable to favorable adjustments for the current period related to uncertain tax positions, as well as an unfavorable adjustment in the prior year comparable period related to management fees recorded as a result of continuing operations versus discontinued operations reporting. The provision for income taxes from continuing operations reflects an effective tax rate of 21.5% for the six months ended August 31, 2023, compared to 28.2% for the prior year comparable period. The decrease in the effective tax rate is attributable to favorable adjustments in the current year related to uncertain state tax positions, as well as an unfavorable adjustment in the prior year related to management fees recorded as a result of continuing operations versus discontinued operations reporting. Discontinued Operations The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three and six months ended August 31, 2022 (in thousands): Three Months Ended Six Months Ended August 31, 2022 August 31, 2022 Income from discontinued operations before income taxes $ 8,676 $ 19,850 Income tax (expense) benefit (1,939) (4,401) Income from discontinued operations, net of tax $ 6,737 $ 15,449 Loss on disposal of discontinued operations $ (114,900) $ (114,900) Income tax benefit 25,473 25,473 Loss on disposal of discontinued operations, net of tax $ (89,427) $ (89,427) The provision for income taxes from discontinued operations reflects an effective tax rate of 22.2% for both the three and six months ended August 31, 2022.

Equity

Equity	6 Months Ended
	Aug. 31, 2023
Equity [Abstract]
Equity	14. Equity Series A Convertible Preferred Stock On August 5, 2022, the Company exchanged its $240.0 million aggregate principal amount of 6.0% convertible subordinated notes due June 30, 2030 for 240,000 shares of 6.0% Series A Convertible Preferred Stock, following the receipt of shareholder approval for the issuance of preferred stock. The Series A Convertible Preferred Stock is convertible by the holder at any time into shares of the Company's common stock at a conversion price of $58.30 per common share. The preferred stock accumulates a 6.0% dividend per annum. Dividends are payable quarterly on March 31, June 30, September 30 and December 31 of each year. In addition, the preferred shares are subject to a minimum conversion threshold of 1,000 shares per conversion, and customary anti-dilution and dividend adjustments. The preferred shares have full voting rights as if converted and have a fully participating liquidation preference. As of both August 31, 2023 and February 28, 2023, the 240,000 shares of outstanding Series A Convertible Preferred Stock had accrued dividends of $2.4 million and could be converted into 4.1 million shares of common stock, at the option of the holder. Accumulated Other Comprehensive Income The components of accumulated other comprehensive income (loss) ("AOCI"), after tax, for the three and six months ended August 31, 2023 and 2022 consisted of the following (in thousands): Three Months Ended August 31, 2023 2022 Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Balance as of beginning of period $ (6,440) $ 119 $ (1,219) $ (7,540) $ (26,700) $ — $ — $ (26,700) Other comprehensive income before reclassification (2,867) — 5,531 2,664 (3,370) — — (3,370) Amounts reclassified from AOCI — — (938) (938) — — — — Net change in AOCI (2,867) — 4,593 1,726 (3,370) — — (3,370) Balance as of end of period $ (9,307) $ 119 $ 3,374 $ (5,814) $ (30,070) $ — $ — $ (30,070) Six Months Ended August 31, 2023 2022 Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Balance as of beginning of period $ (7,571) $ 119 $ 2,879 $ (4,573) $ (27,324) $ — $ — $ (27,324) Other comprehensive income before reclassification (1,736) — 1,982 246 (2,746) — — (2,746) Amounts reclassified from AOCI — — (1,487) (1,487) — — — — Net change in AOCI (1,736) — 495 (1,241) (2,746) — — (2,746) Balance as of end of period $ (9,307) $ 119 $ 3,374 $ (5,814) $ (30,070) $ — $ — $ (30,070)

Defined Benefit Pension Plan

Defined Benefit Pension Plan	6 Months Ended
	Aug. 31, 2023
Retirement Benefits [Abstract]
Defined Benefit Pension Plan	15. Defined Benefit Pension Plan Pension and Employee Benefit Obligations In the Company's Precoat Metals segment, certain current or past employees participate in a defined benefit pension plan (the "Plan"). Prior to the Precoat Acquisition, benefit accruals were frozen for all participants. After the freeze, participants no longer accrued benefits under the Plan, and new hires of AZZ Precoat Metals are not eligible to participate in the Plan. As of August 31, 2023, the Plan was underfunded, and the Company has a pension liability of $31.7 million, which is included in "Other long-term liabilities" in the consolidated balance sheets and represents the underfunded portion of the Plan.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Aug. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies Legal The Company and its subsidiaries are named defendants and plaintiffs in various routine lawsuits incidental to our business. These proceedings include labor and employment claims, various commercial disputes, use of the Company’s intellectual property, worker’s compensation and environmental matters, all arising in the normal course of business. As discovery progresses on all outstanding legal matters, the Company will continue to evaluate opportunities to either settle the disputes for nuisance value or potentially enter into mediation as a way to resolve the disputes prior to trial. As the pending cases progress through additional discovery and potential mediation, our assessment of the likelihood of an unfavorable outcome on the pending lawsuits may change. Although the outcome of these lawsuits or other proceedings cannot be predicted with certainty, and the amount of any potential liability that could arise with respect to such lawsuits or other matters cannot be predicted at this time, management, after consultation with legal counsel believes it has strong defenses to all of these matters and does not expect liabilities, if any, from these claims or proceedings, either individually or in the aggregate, to have a material effect on the Company’s financial position, results of operations or cash flows. The Company’s prior-owned affiliate ₋ The Calvert Company entered into a series of commercial contracts in 2011 and 2015 to provide equipment and services to a power plant in Georgia. The general contractor on the project, WECTEC (a subsidiary of Westinghouse), filed bankruptcy in New York in March of 2017. The Company’s affiliate continued to perform work on the project for the owners/licensee under an interim bridge contract. We believe the affiliate was eventually terminated for convenience on the project, and the affiliate filed an adversary proceeding in bankruptcy court against WECTEC and the owners to collect all unpaid amounts. The owners of the Georgia power plant filed a countersuit in April of 2018. In connection with the Company selling the majority interest in the AIS business to Fernweh Group on September 30, 2022, the Company agreed to retain this lawsuit. After a long and protracted discovery process and motion practice, we determined in the quarter ended August 31, 2023 that the most favorable outcome to the Company to resolve the dispute may be a negotiated settlement. This decision was made in consideration of the expenses of a lengthy jury trial and potentially protracted appeal process; the resources necessary to continue the prosecution and defense of the case given the size of the discovery and the number of issues involved; the risk factors typically associated with jury verdicts in light of all of the political circumstances currently present in Georgia regarding the power plant; and the benefit of resolving a dispute whose genesis arose more than twelve years ago based solely upon risk avoidance, and not upon the merits of the case. All of the parties have agreed to enter into a confidential settlement agreement, with no parties admitting any guilt or negligence and the Company agreeing to pay the owners/licensee $5.75 million on or around December 6, 2023 to resolve all outstanding matters related to the dispute. The settlement agreement is expected to be finalized in the third quarter of fiscal 2024. In addition, the agreement included the forgiveness of the Company's receivable from WECTEC of $3.7 million, which was fully reserved by the Company. This settlement of $5.75 million was accrued during the three months ended August 31, 2023, and is included in "Selling, general and administrative" expense in the consolidated statement of operations for the three months ended August 31, 2023 and in "Other accrued liabilities" in the consolidated balance sheet as of August 31, 2023. The settlement was included in the AZZ Infrastructure Solutions segment, and the settlement payment will be made in the fourth quarter of fiscal 2024. A litigation matter between the Company and a previous customer of an affiliate of the AIS business, which was retained following the disposition of the AIS business, is scheduled to go to trial during the fourth quarter of fiscal 2024. The Company is the Plaintiff and believes that it will be able to recover its damages against the Defendant. As of August 31, 2023, the Company has a receivable due from the Defendant, net of allowance, of $5.2 million, which is included in "Accounts receivable, net" in the consolidated balance sheets. Neither the likelihood of an unfavorable outcome nor the ultimate liability, if any, with respect to this litigation can be determined at this time. Environmental The Company assumed certain environmental liabilities as part of the Precoat Acquisition described in Note 2. As of August 31, 2023, t he reserve balance for environmental liabilities was $22.4 million, of which $3.5 million is classified as current. Environmental remediation liabilities include costs directly associated with site investigation and clean up, such as materials, external contractor costs, legal and consulting expenses and incremental internal costs directly related to ongoing remediation plans. Estimates used to record environmental remediation liabilities are based on the Company's best estimate of probable future costs based on site-specific facts and circumstances known at the time of the estimate and these estimates are updated on a quarterly basis. Estimates of the cost for the potential or ongoing remediation plans are developed using internal resources and third-party environmental engineers and consultants. The Company accrues the anticipated cost of environmental remediation when the obligation is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. While any revisions to the Company's environmental remediation liabilities could be material to the operating results of any fiscal quarter or fiscal year, the Company does not expect such additional remediation expenses to have an adverse material effect on its financial position, results of operations, or cash flows.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 28,332	$ (57,570)	$ 56,854	$ (33,493)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Aug. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	6 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Consolidation	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. The Company's AZZ Metal Coatings segment is a leading provider of metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing and plating to the North American steel fabrication and other industries. The AZZ Precoat Metals segment provides aesthetic and corrosion protective coatings and related value-added services for steel and aluminum coil, primarily serving the construction; appliance; heating, ventilation, and air conditioning (HVAC); container; transportation and other end markets in North America. The AZZ Infrastructure Solutions segment consists of the Company's 40% interest in AIS Investment Holdings LLC (the "AVAIL JV"). AIS Investment Holdings LLC is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in markets worldwide. AIS Investment Holdings LLC was wholly-owned by the Company until September 30, 2022, when AZZ contributed its' AZZ Infrastructure Solutions segment, excluding AZZ Crowley Tubing and excluding certain receivables retained by AZZ ("AIS"), to the AVAIL JV and sold a 60% interest in the AVAIL JV to Fernweh Group LLC ("Fernweh"). For the three and six months ended August 31, 2022, financial data for the AZZ Infrastructure Solutions segment is segregated and reported as discontinued operations. Presentation The accompanying condensed consolidated balance sheet as of February 28, 2023 was derived from audited financial statements. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. These financial statements should be read in conjunction with the audited financial statements and related notes for the fiscal year ended February 28, 2023, included in the Company’s Annual Report on Form 10-K covering such period. Certain previously reported amounts have been reclassified to conform to current period presentation. See Note 3 for more information about results of operations reported in discontinued operations in the consolidated statement of operations and statement of cash flows for the three and six months ended August 31, 2022. The Company's fiscal year ends on the last day of February and is identified as the fiscal year for the calendar year in which it ends. For example, the fiscal year ending February 29, 2024 is referred to as fiscal 2024.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Aug. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of assets acquired and liabilities assumed	The following table represents the summary of the assets acquired and liabilities assumed, in aggregate, related to the Precoat Acquisition, as of the date of the acquisition (in thousands): May 13, 2022 Assets Accounts receivable $ 77,422 Inventories 43,369 Contract assets 68,314 Prepaid expenses and other 2,247 Property, plant and equipment 305,503 Right-of-use asset 13,753 Goodwill 527,793 Deferred tax asset 8,660 Intangibles and other assets 446,546 Total fair value of assets acquired $ 1,493,607 Liabilities Accounts payable (99,223) Accrued expenses (31,761) Other accrued liabilities (5,330) Lease liability, short-term (2,440) Lease liability, long-term (11,313) Other long-term liabilities (60,091) Total fair value of liabilities assumed $ (210,158) Total purchase price, net of cash acquired $ 1,283,449
Pro forma information	Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Revenue $ 398,542 $ 406,710 789,415 806,864 Net income from continuing operations (1) $ 28,332 $ 25,120 56,854 25,015 (1) Net income for the six months ended August 31, 2022 includes acquisition costs of approximately $45.0 million, of which $11.5 million was incurred by AZZ and $33.5 million was incurred by Precoat Metals prior to the acquisition.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Aug. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The results of operations from discontinued operations for the three and six months ended August 31, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands): Three Months Ended Six Months Ended August 31, 2022 August 31, 2022 Sales $ 106,660 $ 213,924 Cost of sales 84,826 167,686 Gross margin 21,834 46,238 Selling, general and administrative 9,710 22,114 Loss on disposal of discontinued operations 114,900 114,900 Operating loss from discontinued operations (102,776) (90,776) Interest expense 5 6 Other (income) expense, net 3,443 4,268 Loss from discontinued operations before income tax (106,224) (95,050) Income tax benefit (23,534) (21,072) Net loss from discontinued operations $ (82,690) $ (73,978) Loss per common share from discontinued operations: Basic loss per share $ (3.33) $ (2.99) Diluted loss per share $ (2.85) $ (2.70) The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands): Six Months Ended August 31, 2022 Depreciation and amortization $ 6,248 Purchase of property, plant and equipment 2,878 Loss on discontinued operations (114,900) The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three and six months ended August 31, 2022 (in thousands): Three Months Ended Six Months Ended August 31, 2022 August 31, 2022 Income from discontinued operations before income taxes $ 8,676 $ 19,850 Income tax (expense) benefit (1,939) (4,401) Income from discontinued operations, net of tax $ 6,737 $ 15,449 Loss on disposal of discontinued operations $ (114,900) $ (114,900) Income tax benefit 25,473 25,473 Loss on disposal of discontinued operations, net of tax $ (89,427) $ (89,427)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Aug. 31, 2023
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 28,332 $ 25,120 $ 56,854 $ 40,485 Dividends on preferred stock (3,600) (1,040) (7,200) (1,040) Numerator for basic earnings per share continuing operations $ 24,732 $ 24,080 $ 49,654 $ 39,445 After-tax interest expense for Convertible Notes — 2,006 — 2,554 Dividends on preferred stock 3,600 1,040 7,200 1,040 Numerator for diluted earnings per share continuing operations $ 28,332 $ 27,126 $ 56,854 $ 43,039 Net loss from discontinued operations $ — $ (82,690) $ — $ (73,978) Net income (loss) available to common shareholders $ 24,732 $ (58,610) $ 49,654 $ (34,533) After-tax interest expense for Convertible Notes — 2,006 — 2,554 Dividends on preferred stock 3,600 1,040 7,200 1,040 Numerator for diluted earnings per share—net income (loss) available to common shareholders $ 28,332 $ (55,564) $ 56,854 $ (30,939) Denominator: Weighted average shares outstanding for basic earnings per share 25,054 24,836 24,997 24,772 Effect of dilutive securities: Employee and director stock awards 39 106 82 172 Convertible Notes — 2,953 — 1,902 Series A Convertible Preferred Stock 4,117 1,164 4,117 582 Denominator for diluted earnings per share 29,210 29,059 29,196 27,428 Basic earnings (loss) per share Earnings per common share from continuing operations $ 0.99 $ 0.97 $ 1.99 $ 1.59 Loss per common share from discontinued operations $ — $ (3.33) $ — $ (2.99) Earnings (loss) per common share $ 0.99 $ (2.36) $ 1.99 $ (1.39) Diluted earnings (loss) per share Earnings per common share from continuing operations $ 0.97 $ 0.93 $ 1.95 $ 1.57 Loss per common share from discontinued operations $ — $ (2.85) $ — $ (2.70) Earnings (loss) per common share $ 0.97 $ (1.91) $ 1.95 $ (1.13)

Sales (Tables)

Sales (Tables)	6 Months Ended
	Aug. 31, 2023
Revenues [Abstract]
Disaggregation of Revenue	The following table presents disaggregated sales, for continuing operations, by customer industry (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Sales: Construction $ 216,807 $ 220,657 $ 422,337 $ 289,882 Industrial 42,245 41,214 82,889 79,182 Consumer 34,673 38,340 70,258 45,421 Transportation 35,869 36,825 72,626 69,097 Electrical/Utility 25,905 24,172 51,312 46,452 Other (1) 43,043 45,502 89,993 83,810 Total Sales $ 398,542 $ 406,710 $ 789,415 $ 613,844 (1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Aug. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	In order to determine net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in thousands): Six Months Ended August 31, 2023 2022 Decrease (increase) in current assets: Accounts receivable, net $ (610) $ (35,813) Inventories 7,460 (16,081) Contract assets 57 (7,751) Prepaid expenses and other (2,544) (9,238) Increase (decrease) in current liabilities: Accounts payable 15,036 32,842 Income taxes payable (226) 7,388 Accrued expenses 2,211 15,974 Changes in current assets and current liabilities $ 21,384 $ (12,679) Cash flows related to interest and income taxes were as follows (in thousands): Six Months Ended August 31, 2023 2022 Cash paid for interest $ 51,539 $ 23,888 Cash paid for income taxes 12,930 10,065 Supplemental disclosures of non-cash investing and financing activities were as follows (in thousands): Six Months Ended August 31, 2023 2022 Issuance of preferred stock in exchange for convertible notes $ — $ 233,722 Accrued dividends on preferred stock 2,400 1,040 Accruals for capital expenditures 5,579 —

Operating segments (Tables)

Operating segments (Tables)	6 Months Ended
	Aug. 31, 2023
Segment Reporting [Abstract]
Operations and assets by segment	Net income from continuing operations by segment for the three and six months ended August 31, 2023 and 2022 was as follows (in thousands): Three Months Ended August 31, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 169,837 $ 228,705 $ — $ — $ 398,542 Cost of sales 119,471 181,825 — — 301,296 Gross margin 50,366 46,880 — — 97,246 Selling, general and administrative 5,285 7,874 5,932 17,148 36,239 Operating income (loss) from continuing operations $ 45,081 $ 39,006 (5,932) (17,148) 61,007 Interest expense — 27,770 27,770 Equity in earnings of unconsolidated subsidiaries (974) — (974) Other (income) expense — (88) (88) Income (loss) from continuing operations before income tax $ (4,958) (44,830) 34,299 Income tax expense 5,967 5,967 Net income (loss) from continuing operations $ (50,797) $ 28,332 Six Months Ended August 31, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 338,631 $ 450,784 $ — $ — $ 789,415 Cost of sales 237,328 357,822 — — 595,150 Gross margin 101,303 92,962 — — 194,265 Selling, general and administrative 10,751 16,266 5,954 34,791 67,762 Operating income (loss) from continuing operations $ 90,552 $ 76,696 (5,954) (34,791) 126,503 Interest expense — 56,476 56,476 Equity in earnings of unconsolidated subsidiaries (2,394) — (2,394) Other (income) expense — (50) (50) Income (loss) from continuing operations before income tax $ (3,560) (91,217) 72,471 Income tax expense 15,617 15,617 Net income (loss) from continuing operations $ (106,834) $ 56,854 Three Months Ended August 31, 2022 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 165,849 $ 240,861 $ — $ — $ 406,710 Cost of sales 116,437 188,718 — — 305,155 Gross margin 49,412 52,143 — — 101,555 Selling, general and administrative 4,416 15,930 — 17,068 37,414 Operating income (loss) from continuing operations $ 44,996 $ 36,213 — (17,068) 64,141 Interest expense — 28,144 28,144 Other (income) expense — 55 55 Income (loss) from continuing operations before income tax $ — (45,267) 35,942 Income tax expense 10,822 10,822 Net income (loss) from continuing operations $ (56,089) $ 25,120 Six Months Ended August 31, 2022 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 329,293 $ 284,551 $ — $ — $ 613,844 Cost of sales 230,018 222,218 — — 452,236 Gross margin 99,275 62,333 — — 161,608 Selling, general and administrative 9,009 19,472 — 41,077 69,558 Operating income (loss) from continuing operations $ 90,266 $ 42,861 — (41,077) 92,050 Interest expense — 35,615 35,615 Other (income) expense — 28 28 Income (loss) from continuing operations before income tax $ — (76,720) 56,407 Income tax expense 15,922 15,922 Net income (loss) from continuing operations $ (92,642) $ 40,485 (1) Infrastructure Solutions segment includes the Company’s equity in (earnings) loss from its investment in the AVAIL JV, as well as other expenses related to receivables and liabilities that were retained by the Company following the sale of the AIS business. See Note 16 for a description of a legal settlement recognized during the three months ended August 31, 2023 related to AIS business. (2) Interest expense, Other (income) expense and Income tax expense are included in the Corporate segment as these items are not allocated to the segments. (3) For fiscal year 2024, amortization expense for acquired intangible assets is included in Corporate expenses in "Selling, general and administrative" expense as these expenses are not allocated to the segments.
Reconciliation of Assets from Segment to Consolidated	Asset balances by operating segment for each period were as follows (in thousands): As of August 31, 2023 February 28, 2023 Assets: Metal Coatings $ 575,330 $ 588,337 Precoat Metals 1,504,940 1,488,810 Infrastructure Solutions - Investment in Joint Venture 85,535 84,760 Corporate 48,756 59,572 Total assets $ 2,214,561 $ 2,221,479
Revenue from External Customers by Geographic Areas	Financial information about geographical areas for the periods presented was as follows (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Sales: United States $ 388,538 $ 393,835 $ 769,860 $ 588,195 Canada 10,004 12,875 19,555 25,649 Total $ 398,542 $ 406,710 $ 789,415 $ 613,844
Long-lived Assets by Geographic Areas	As of August 31, 2023 February 28, 2023 Property, plant and equipment, net: United States $ 496,972 $ 478,722 Canada 19,527 19,781 Total $ 516,499 $ 498,503

Investments in Unconsolidated_2

Investments in Unconsolidated Entity (Tables)	6 Months Ended
	Aug. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Summarized Balance Sheet As of August 31, 2023 (1) Current assets $ 248,243 Long-term assets 177,829 Total assets $ 426,072 Current liabilities 89,726 Long-term liabilities 135,694 Total liabilities $ 225,420 Total partners' capital 200,652 Total liabilities and partners' capital $ 426,072 Summarized Operating Data Three Months Ended August 31, 2023 (1) Six Months Ended August 31, 2023 (1) Sales $ 104,863 $ 219,337 Gross profit 24,577 50,899 Net income 2,886 8,701 (1) The Company reports on a one-month lag basis; therefore, amounts in the summarized financials above are as of and for the three and six months ended July 31, 2023. Amounts in the table above exclude certain adjustments made by the Company to record equity in earnings of the AVAIL JV, primarily related to goodwill amortization.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s long-term debt instruments and balances outstanding for each of the periods presented (in thousands): As of August 31, 2023 February 28, 2023 Revolving Credit Facility $ 35,000 $ 95,000 Term Loan B 1,030,250 1,030,250 Total debt, gross $ 1,065,250 $ 1,125,250 Unamortized debt issuance costs (62,886) (67,130) Long-term debt, net $ 1,002,364 $ 1,058,120

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Aug. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The Company’s financial instrument that is measured at fair value on a recurring basis as of August 31, 2023 and February 28, 2023 is as follows (dollars in thousands): Carrying Value Carrying Value August 31, Fair Value Measurements Using February 28, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 2023 Level 1 Level 2 Level 3 Assets (Liabilities): Interest Rate Swap Agreement $ 4,447 $ — $ 4,447 $ — $ 3,925 $ — $ 3,925 $ — Total Assets $ 4,447 $ 3,925

Leases (Tables)

Leases (Tables)	6 Months Ended
	Aug. 31, 2023
Leases [Abstract]
Lease, Cost	The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets as of August 31, 2023 and February 28, 2023 (in thousands): Balance Sheet Classification As of August 31, 2023 February 28, 2023 Assets Right-of-use assets Right-of-use assets $ 24,273 $ 26,392 Liabilities Operating lease liabilities ― short-term Lease liability - short-term $ 6,145 $ 6,119 Operating lease liabilities ― long-term Lease liability - long-term 17,093 19,659 Finance lease liabilities ― short-term Lease liability - short-term 427 284 Finance lease liabilities ― long-term Lease liability - long-term 1,341 1,045
Lessee, Operating Lease, Liability, Maturity	The following table outlines the classification of the Company's right-of-use asset and lease liabilities in the balance sheets as of August 31, 2023 and February 28, 2023 (in thousands): Balance Sheet Classification As of August 31, 2023 February 28, 2023 Assets Right-of-use assets Right-of-use assets $ 24,273 $ 26,392 Liabilities Operating lease liabilities ― short-term Lease liability - short-term $ 6,145 $ 6,119 Operating lease liabilities ― long-term Lease liability - long-term 17,093 19,659 Finance lease liabilities ― short-term Lease liability - short-term 427 284 Finance lease liabilities ― long-term Lease liability - long-term 1,341 1,045 Supplemental information related to the Company's portfolio of operating leases from continuing operations was as follows (in thousands, except years and percentages): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Operating cash flows from operating leases included in lease liabilities $ 1,834 $ 1,999 $ 3,654 $ 3,133 Lease liabilities obtained from new ROU assets - operating 373 2,775 1,895 2,885 Decrease in ROU assets related to lease terminations (1,294) — (1,302) — Operating and financing cash flows from financing leases included in lease liabilities 113 49 199 94 Lease liabilities obtained from new ROU assets - financing 599 277 599 277 As of August 31, 2023 February 28, 2023 Weighted-average remaining lease term - operating leases 4.46 years 5.04 years Weighted-average discount rate - operating leases 4.41 % 4.31 % Weighted-average remaining lease term - financing leases 4.31 years 4.61 years Weighted-average discount rate - financing leases 5.39 % 5.15 % The following table outlines the classification of lease expense related to operating leases from continuing operations, in the statements of operations (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2023 2022 2023 2022 Cost of sales $ 3,136 $ 3,214 $ 6,237 $ 5,283 Selling, general and administrative 506 567 1,005 941 Total lease cost $ 3,642 $ 3,781 $ 7,242 $ 6,224
Finance Lease, Liability, Maturity	As of August 31, 2023, maturities of the Company's lease liabilities, excluding lease liabilities associated with our discontinued operations, were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2024 $ 3,583 $ 254 $ 3,837 2025 6,505 500 7,005 2026 5,574 423 5,997 2027 4,401 386 4,787 2028 2,435 312 2,747 2029 1,869 101 1,970 Thereafter 1,252 5 1,257 Total lease payments $ 25,619 $ 1,981 $ 27,600 Less imputed interest (2,380) (214) (2,594) Total $ 23,239 $ 1,767 $ 25,006

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Disposal Groups, Including Discontinued Operations	The results of operations from discontinued operations for the three and six months ended August 31, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands): Three Months Ended Six Months Ended August 31, 2022 August 31, 2022 Sales $ 106,660 $ 213,924 Cost of sales 84,826 167,686 Gross margin 21,834 46,238 Selling, general and administrative 9,710 22,114 Loss on disposal of discontinued operations 114,900 114,900 Operating loss from discontinued operations (102,776) (90,776) Interest expense 5 6 Other (income) expense, net 3,443 4,268 Loss from discontinued operations before income tax (106,224) (95,050) Income tax benefit (23,534) (21,072) Net loss from discontinued operations $ (82,690) $ (73,978) Loss per common share from discontinued operations: Basic loss per share $ (3.33) $ (2.99) Diluted loss per share $ (2.85) $ (2.70) The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands): Six Months Ended August 31, 2022 Depreciation and amortization $ 6,248 Purchase of property, plant and equipment 2,878 Loss on discontinued operations (114,900) The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three and six months ended August 31, 2022 (in thousands): Three Months Ended Six Months Ended August 31, 2022 August 31, 2022 Income from discontinued operations before income taxes $ 8,676 $ 19,850 Income tax (expense) benefit (1,939) (4,401) Income from discontinued operations, net of tax $ 6,737 $ 15,449 Loss on disposal of discontinued operations $ (114,900) $ (114,900) Income tax benefit 25,473 25,473 Loss on disposal of discontinued operations, net of tax $ (89,427) $ (89,427)

Equity (Tables)

Equity (Tables)	6 Months Ended
	Aug. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) ("AOCI"), after tax, for the three and six months ended August 31, 2023 and 2022 consisted of the following (in thousands): Three Months Ended August 31, 2023 2022 Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Balance as of beginning of period $ (6,440) $ 119 $ (1,219) $ (7,540) $ (26,700) $ — $ — $ (26,700) Other comprehensive income before reclassification (2,867) — 5,531 2,664 (3,370) — — (3,370) Amounts reclassified from AOCI — — (938) (938) — — — — Net change in AOCI (2,867) — 4,593 1,726 (3,370) — — (3,370) Balance as of end of period $ (9,307) $ 119 $ 3,374 $ (5,814) $ (30,070) $ — $ — $ (30,070) Six Months Ended August 31, 2023 2022 Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Foreign Currency Translation Gain (Loss) Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Total Balance as of beginning of period $ (7,571) $ 119 $ 2,879 $ (4,573) $ (27,324) $ — $ — $ (27,324) Other comprehensive income before reclassification (1,736) — 1,982 246 (2,746) — — (2,746) Amounts reclassified from AOCI — — (1,487) (1,487) — — — — Net change in AOCI (1,736) — 495 (1,241) (2,746) — — (2,746) Balance as of end of period $ (9,307) $ 119 $ 3,374 $ (5,814) $ (30,070) $ — $ — $ (30,070)

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details)	6 Months Ended
	Aug. 31, 2023 operating_segments	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating segments	3
AIS Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage of investment		40%
Discontinued Operations, Disposed of by Sale | AZZ Infrastructure Solutions | AIS Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of investment sold		0.60

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	May 13, 2022	Aug. 31, 2023	Feb. 28, 2023
Business Acquisition [Line Items]
Goodwill		$ 705,531	$ 702,512
Precoat Metals Business Division
Business Acquisition [Line Items]
Consideration transferred	$ 1,300,000
Goodwill	$ 527,793

Acquisitions - Assets Acquired

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023	May 13, 2022
Assets
Goodwill	$ 705,531	$ 702,512
Precoat Metals Business Division
Assets
Accounts receivable			$ 77,422
Inventories			43,369
Contract assets			68,314
Prepaid expenses and other			2,247
Property, plant and equipment			305,503
Right-of-use asset			13,753
Goodwill			527,793
Deferred tax asset			8,660
Intangibles			446,546
Total fair value of assets acquired			1,493,607
Liabilities
Accounts payable and other accrued liabilities			(99,223)
Accrued expenses			(31,761)
Other accrued liabilities			(5,330)
Lease liability, short-term			(2,440)
Lease liability, long-term			(11,313)
Other long-term liabilities			(60,091)
Total fair value of liabilities assumed			(210,158)
Total purchase price, net of cash acquired			$ 1,283,449

Acquisitions - Pro Forma Inform

Acquisitions - Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Business Acquisition [Line Items]
Revenue	$ 398,542	$ 406,710	$ 789,415	$ 806,864
Net income from continuing operations	$ 28,332	$ 25,120	56,854	$ 25,015
Acquisition costs			45,000
Azz Inc.
Business Acquisition [Line Items]
Acquisition costs			11,500
Precoat Metals
Business Acquisition [Line Items]
Acquisition costs			$ 33,500

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups - Narrative (Q) (Details) - AIS Joint Venture	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage of investment	40%
Discontinued Operations, Disposed of by Sale | AZZ Infrastructure Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of investment sold	0.60

Discontinued Operations - Disco

Discontinued Operations - Discontinued Operations in Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations	$ 0	$ (82,690)	$ 0	$ (73,978)
Earnings per common share from discontinued operations:
Earnings (loss) per common share from discontinued operations (in dollars per share)	$ 0	$ (3.33)	$ 0	$ (2.99)
Earnings (loss) per common share from discontinued operations (in dollars per share)	$ 0	$ (2.85)	$ 0	$ (2.70)
Discontinued Operations, Disposed of by Sale | AZZ Infrastructure Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales		$ 106,660		$ 213,924
Cost of sales		84,826		167,686
Gross margin		21,834		46,238
Selling, general and administrative		9,710		22,114
Loss on disposal		114,900		114,900
Operating income (loss) from discontinued operations		(102,776)		(90,776)
Interest expense		5		6
Other (income) expense, net		3,443		4,268
Income (loss) from discontinued operations before income tax		(106,224)		(95,050)
Income tax (benefit) expense		(23,534)		(21,072)
Net income (loss) from discontinued operations		$ (82,690)		$ (73,978)
Earnings per common share from discontinued operations:
Earnings (loss) per common share from discontinued operations (in dollars per share)		$ (3.33)		$ (2.99)
Earnings (loss) per common share from discontinued operations (in dollars per share)		$ (2.85)		$ (2.70)

Discontinued Operations - Depre

Discontinued Operations - Depreciation, Amortization, Capital Expenditures, and Significant Operating and Investing Noncash Items of the Discontinued Operations (Details) - Discontinued Operations, Disposed of by Sale - AZZ Infrastructure Solutions - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 31, 2022	Aug. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amortization and depreciation		$ 6,248
Purchase of property, plant and equipment		2,878
Loss on disposal of discontinued operations, net of tax	$ (114,900)	$ (114,900)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Numerator:
Net income from continuing operations	$ 28,332	$ 25,120	$ 56,854	$ 40,485
Dividends on preferred stock	3,600	1,040	7,200	1,040
Numerator for diluted earnings per share—net income (loss) available to common shareholders	28,332	(55,564)	56,854	(30,939)
Net income from continuing operations available to common shareholders	24,732	24,080	49,654	39,445
After-tax interest expense for Convertible Notes	0	2,006	0	2,554
Dividends on preferred stock	3,600	1,040	7,200	1,040
Numerator for diluted earnings per share continuing operations	28,332	27,126	56,854	43,039
Net income (loss) from discontinued operations	0	(82,690)	0	(73,978)
Net income (loss) available to common shareholders	$ 24,732	$ (58,610)	$ 49,654	$ (34,533)
Denominator:
Denominator for basic earnings per common share-weighted average shares (shares)	25,054,000	24,836,000	24,997,000	24,772,000
Effect of dilutive securities:
Employee and director stock awards	39,000	106,000	82,000	172,000
Convertible notes (shares)	0	2,953,000	0	1,902,000
Series A convertible preferred stock (shares)	4,117,000	1,164,000	4,117,000	582,000
Denominator for diluted earnings per common share (shares)	29,210,000	29,059,000	29,196,000	27,428,000
Earnings per common share from continuing operations
Earnings (loss) per common share from continuing operations (in dollars per share)	$ 0.99	$ 0.97	$ 1.99	$ 1.59
Earnings (loss) per common share from continuing operations (in dollars per share)	0.97	0.93	1.95	1.57
Earnings per common share from discontinued operations:
Earnings (loss) per common share from discontinued operations (in dollars per share)	0	(3.33)	0	(2.99)
Earnings (loss) per common share from discontinued operations (in dollars per share)	0	(2.85)	0	(2.70)
Computation of basic and diluted earnings per share
Basic earnings per common share (usd per share)	0.99	(2.36)	1.99	(1.39)
Diluted earnings per common share (usd per share)	$ 0.97	$ (1.91)	$ 1.95	$ (1.13)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Share-based Payment Arrangement
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	126,882	102,616	125,793	57,025

Sales Disaggregated Revenues (D

Sales Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Disaggregation of Revenue [Line Items]
Sales	$ 398,542	$ 406,710	$ 789,415	$ 613,844
Industrial
Disaggregation of Revenue [Line Items]
Sales	42,245	41,214	82,889	79,182
Consumer
Disaggregation of Revenue [Line Items]
Sales	34,673	38,340	70,258	45,421
Transportation
Disaggregation of Revenue [Line Items]
Sales	35,869	36,825	72,626	69,097
Electrical/Utility
Disaggregation of Revenue [Line Items]
Sales	25,905	24,172	51,312	46,452
Other
Disaggregation of Revenue [Line Items]
Sales	43,043	45,502	89,993	83,810
Construction
Disaggregation of Revenue [Line Items]
Sales	$ 216,807	$ 220,657	$ 422,337	$ 289,882

Sales - Narrative (Details)

Sales - Narrative (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 1,100	$ 1,300
Contract assets	$ 76,799	$ 79,273

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - New Cash Provided by Operating Activities (Details) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Decrease (increase) in current assets:
Accounts receivable, net	$ (610)	$ (35,813)
Inventories	7,460	(16,081)
Contract assets	57	(7,751)
Prepaid expenses and other	(2,544)	(9,238)
Increase (decrease) in current liabilities:
Accounts payable	15,036	32,842
Income taxes payable	(226)	7,388
Accrued expenses	2,211	15,974
Changes in current assets and current liabilities	$ 21,384	$ (12,679)

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Cash Related to Interest and Income Taxes and Supplemental Disclosures of Non-Cash Activities (Details) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 51,539	$ 23,888
Cash paid for income taxes	12,930	10,065
Issuance of preferred stock in exchange for convertible notes	0	233,722
Accrued dividends on Series A Preferred Stock	2,400	1,040
Accruals for capital expenditures	$ 5,579	$ 0

Operating segments (Details)

Operating segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Feb. 28, 2023
Operations and assets by segment
Sales	$ 398,542	$ 406,710	$ 789,415	$ 613,844
Cost of sales	301,296	305,155	595,150	452,236
Gross margin	97,246	101,555	194,265	161,608
Selling, general and administrative	36,239	37,414	67,762	69,558
Operating income (loss)	61,007	64,141	126,503	92,050
Interest expense	27,770	28,144	56,476	35,615
Equity in (earnings) loss of unconsolidated subsidiaries	(974)	0	(2,394)	0
Other (income) expense	(88)	55	(50)	28
Income taxes	5,967	10,822	15,617	15,922
Net income from continuing operations	28,332	25,120	56,854	40,485
Income (loss) from continuing operations before income tax	34,299	35,942	72,471	56,407
Assets:	2,214,561		2,214,561		$ 2,221,479
Property, plant and equipment, net	516,499		516,499		498,503
United States
Operations and assets by segment
Sales	388,538	393,835	769,860	588,195
Property, plant and equipment, net	496,972		496,972		478,722
Canada
Operations and assets by segment
Sales	10,004	12,875	19,555	25,649
Property, plant and equipment, net	19,527		19,527		19,781
Corporate
Operations and assets by segment
Sales	0	0	0	0
Cost of sales	0	0	0	0
Gross margin	0	0	0	0
Selling, general and administrative	17,148	17,068	34,791	41,077
Operating income (loss)	(17,148)	(17,068)	(34,791)	(41,077)
Interest expense	27,770	28,144	56,476	35,615
Equity in (earnings) loss of unconsolidated subsidiaries	0		0
Other (income) expense	(88)	55	(50)	28
Income taxes	5,967	10,822	15,617	15,922
Net income from continuing operations	(50,797)	(56,089)	(106,834)	(92,642)
Income (loss) from continuing operations before income tax	(44,830)	(45,267)	(91,217)	(76,720)
Assets:	48,756		48,756		59,572
Metal Coatings | Operating Segments
Operations and assets by segment
Sales	169,837	165,849	338,631	329,293
Cost of sales	119,471	116,437	237,328	230,018
Gross margin	50,366	49,412	101,303	99,275
Selling, general and administrative	5,285	4,416	10,751	9,009
Operating income (loss)	45,081	44,996	90,552	90,266
Assets:	575,330		575,330		588,337
Precoat Metals | Operating Segments
Operations and assets by segment
Sales	228,705	240,861	450,784	284,551
Cost of sales	181,825	188,718	357,822	222,218
Gross margin	46,880	52,143	92,962	62,333
Selling, general and administrative	7,874	15,930	16,266	19,472
Operating income (loss)	39,006	36,213	76,696	42,861
Assets:	1,504,940		1,504,940		1,488,810
Infrastructure Solutions | Operating Segments
Operations and assets by segment
Sales	0	0	0	0
Cost of sales	0	0	0	0
Gross margin	0	0	0	0
Selling, general and administrative	5,932	0	5,954	0
Operating income (loss)	(5,932)	0	(5,954)	0
Interest expense	0	0	0	0
Equity in (earnings) loss of unconsolidated subsidiaries	(974)		(2,394)
Other (income) expense	0	0	0	0
Income (loss) from continuing operations before income tax	(4,958)	$ 0	(3,560)	$ 0
Assets:	$ 85,535		$ 85,535		$ 84,760

Investments in Unconsolidated_3

Investments in Unconsolidated Entity - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Feb. 28, 2023 USD ($)	Sep. 30, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Period of amortization (in years)	7 years		7 years
Equity in (earnings) loss of unconsolidated subsidiaries	$ (974)	$ 0	$ (2,394)	$ 0
AIS Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage of investment						40%
Investment in joint venture	85,535		85,535		$ 84,760
Excess of equity method investment from carrying amount	7,400		7,400
AIS Joint Venture | AZZ Infrastructure Solutions
Schedule of Equity Method Investments [Line Items]
Equity in (earnings) loss of unconsolidated subsidiaries			$ (2,400)
Amortization amount	$ (2,700)
AIS Joint Venture | AZZ Infrastructure Solutions | Discontinued Operations, Disposed of by Sale
Schedule of Equity Method Investments [Line Items]
Percentage of investment sold						0.60
Investment in joint venture						$ 85,500

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Schedule of Condensed Balance Sheet For AIS Joint Venture (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Assets [Abstract]
Current Assets	$ 409,869	$ 417,416
Total assets	2,214,561	2,221,479
Liabilities [Abstract]
Current liabilities	206,317	187,240
Liabilities	1,316,484	1,368,019
Total liabilities and shareholders' equity	2,214,561	$ 2,221,479
AIS Joint Venture
Assets [Abstract]
Current Assets	248,243
Non-current assets	177,829
Total assets	426,072
Liabilities [Abstract]
Current liabilities	89,726
Non-current liabilities	135,694
Liabilities	225,420
Partners' Capital	200,652
Total liabilities and shareholders' equity	$ 426,072

Investments in Unconsolidated_5

Investments in Unconsolidated Entities - Schedule of Condensed Statement of Operations for AIS Joint Venture (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Income Statement [Abstract]
Gross margin	$ 97,246	$ 101,555	$ 194,265	$ 161,608
AIS Joint Venture
Income Statement [Abstract]
Sales			104,863	219,337
Gross margin			24,577	50,899
Net income			$ 2,886	$ 8,701

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Aug. 31, 2023	Sep. 27, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification of AOCI	$ (2)
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate on swap agreement		8.627%
Notional amount on swap agreement	$ 544.5	$ 550
Interest Rate Swap, Portion Of Variable Rate Debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate on swap agreement		4.277%

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023	Aug. 31, 2022
Debt Instrument [Line Items]
Total debt, gross	$ 1,065,250	$ 1,125,250	$ 1,130,000
Unamortized debt issuance costs	(62,886)	(67,130)
Long-term debt, net	1,002,364	1,058,120
Term Loan B
Debt Instrument [Line Items]
Total debt, gross	1,030,250	1,030,250
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt, gross	$ 35,000	$ 95,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands				1 Months Ended	6 Months Ended	9 Months Ended
	May 31, 2024	Aug. 17, 2023	Aug. 31, 2022	May 31, 2022	Aug. 31, 2023	Nov. 30, 2022	May 13, 2022
Debt Instrument [Line Items]
Weighted average interest rate					8.56%
Letters of credit outstanding					$ 17,900
Term Loan B
Debt Instrument [Line Items]
Decrease to interest rate margin		0.50%
Initial interest rate margin							0.10%
Periodic payments			$ 3,250
2022 Credit Agreement And Term Loan B
Debt Instrument [Line Items]
Total net leverage ratio maximum					525%	625%
2022 Credit Agreement And Term Loan B | Subsequent Event
Debt Instrument [Line Items]
Total net leverage ratio maximum	450%
Note Payable, Floating And Fixed Rate, Maturing Through Fiscal Year 2029
Debt Instrument [Line Items]
Fair value of outstanding debt					$ 1,070,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Term Loan B
Debt Instrument [Line Items]
Basis spread		3.75%
Senior Notes | Line of Credit
Debt Instrument [Line Items]
Remaining borrowing capacity on line of credit					$ 347,100
Loans Payable | Term Loan B
Debt Instrument [Line Items]
Debt instrument, face amount							$ 1,300,000
Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount							240,000
Revolving Credit Facility | 2022 Credit Agreement And Term Loan B
Debt Instrument [Line Items]
Maximum borrowing capacity							400,000
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread				4.25%
Standby And Commercial Letters Of Credit | 2022 Credit Agreement And Term Loan B
Debt Instrument [Line Items]
Accordion feature							$ 100,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 4,447	$ 3,925
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	(4,447)	(3,925)
Interest Rate Swap | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Interest Rate Swap | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	(4,447)	(3,925)
Interest Rate Swap | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023	Aug. 31, 2022
Fair Value Disclosures [Abstract]
Total debt, gross	$ 1,065,250	$ 1,125,250	$ 1,130,000
Fair value of outstanding debt	$ 1,070,000		$ 1,130,000

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
	Aug. 31, 2023 USD ($) lease
Leases [Abstract]
Number of operating leases	156
Number of finance leases	24
Sublease income | $	$ 0.2

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Feb. 28, 2023
Lessee, Lease, Description [Line Items]
Right-of-use assets	$ 24,273		$ 24,273		$ 26,392
Operating lease liabilities ― short-term	$ 6,145		$ 6,145		$ 6,119
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Lease liability, short-term		Lease liability, short-term		Lease liability, short-term
Operating lease liabilities ― long-term	$ 17,093		$ 17,093		$ 19,659
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liability, long-term		Lease liability, long-term		Lease liability, long-term
Finance lease liabilities ― short-term	$ 427		$ 427		$ 284
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Lease liability, short-term		Lease liability, short-term		Lease liability, short-term
Finance lease liabilities ― long-term	$ 1,341		$ 1,341		$ 1,045
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liability, long-term		Lease liability, long-term		Lease liability, long-term
Total lease cost	$ 3,642	$ 3,781	$ 7,242	$ 6,224
Cost of sales
Lessee, Lease, Description [Line Items]
Total lease cost	3,136	3,214	6,237	5,283
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Total lease cost	$ 506	$ 567	$ 1,005	$ 941

Leases - Lease Details (Details

Leases - Lease Details (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Feb. 28, 2023
Lease, Cost [Abstract]
Operating cash flows from operating leases included in lease liabilities	$ 1,834	$ 1,999	$ 3,654	$ 3,133
Lease liabilities obtained from new ROU assets - operating	$ 373	2,775	$ 1,895	2,885
Weighted-average remaining lease term - operating leases	4 years 5 months 15 days		4 years 5 months 15 days		5 years 14 days
Weighted-average discount rate - operating leases	4.41%		4.41%		4.31%
Operating and financing cash flows from financing leases included in lease liabilities	$ 113	49	$ 199	94
Lease liabilities obtained from new ROU assets - financing	$ 599	$ 277	$ 599	$ 277
Weighted-average remaining lease term - financing leases	4 years 3 months 21 days		4 years 3 months 21 days		4 years 7 months 9 days
Weighted-average discount rate - financing leases	5.39%		5.39%		5.15%

Leases - Lease Maturity (Detail

Leases - Lease Maturity (Details) $ in Thousands	Aug. 31, 2023 USD ($)
Operating Leases
2024	$ 3,583
2025	6,505
2026	5,574
2027	4,401
2028	2,435
2029	1,869
Thereafter	1,252
Total lease payments	25,619
Less imputed interest	(2,380)
Total	23,239
Finance Leases
2024	254
2025	500
2026	423
2027	386
2028	312
2029	101
Thereafter	5
Total lease payments	1,981
Less imputed interest	(214)
Total	1,767
2024	3,837
2025	7,005
2026	5,997
2027	4,787
2028	2,747
2029	1,970
Thereafter	1,257
Total lease payments	27,600
Less imputed interest	(2,594)
Total	$ 25,006

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Income (loss) from discontinued operations before income tax		$ 8,676
Income tax (benefit) expense		(1,939)
Income from discontinued operations, net of tax	$ 0	$ 6,737	$ 0	$ 15,449

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate, continuing operations (percent)	17.40%	30.10%	21.50%	28.20%
Effective income tax rate, discontinuing operations (percent)	22.20%	22.20%	22.20%	22.20%

Equity - Series A Convertible P

Equity - Series A Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 05, 2022	Aug. 31, 2023	Feb. 28, 2023
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)		240,000	240,000
Dividend rate (as a percent)	6%
Conversion price (in dollars per share)	$ 58.30
Minimum conversion threshold (in shares)	1,000
Dividends payable		$ 2.4
Preferred stock, shares issued (in shares)		4,100,000
Convertible Debt
Class of Stock [Line Items]
Aggregate debt amount	$ 240
Converted instrument rate (as a percent)	6%

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	$ 871,373	$ 687,559	$ 853,460	$ 667,365
Other comprehensive income (loss) before reclassification	2,664	(3,370)	246	(2,746)
Amounts reclassified from AOCI	(938)		(1,487)
Net change in AOCI	1,726	(3,370)	(1,241)	(2,746)
Balance, ending balance	898,077	859,621	898,077	859,621
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(6,440)	(26,700)	(7,571)	(27,324)
Other comprehensive income (loss) before reclassification	(2,867)	(3,370)	(1,736)	(2,746)
Amounts reclassified from AOCI	0		0
Net change in AOCI	(2,867)	(3,370)	(1,736)	(2,746)
Balance, ending balance	(9,307)	(30,070)	(9,307)	(30,070)
Accummulated Net Actuarial Gain (Loss), Net Of Tax Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	119	0	119	0
Other comprehensive income (loss) before reclassification	0	0	0	0
Amounts reclassified from AOCI	0		0
Net change in AOCI	0	0	0	0
Balance, ending balance	119	0	119	0
Accumulated Interest Rate Swap, Net of Tax Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(1,219)	0	2,879	0
Other comprehensive income (loss) before reclassification	5,531	0	1,982	0
Amounts reclassified from AOCI	(938)		(1,487)
Net change in AOCI	4,593	0	495	0
Balance, ending balance	3,374	0	3,374	0
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(7,540)	(26,700)	(4,573)	(27,324)
Balance, ending balance	$ (5,814)	$ (30,070)	$ (5,814)	$ (30,070)

Defined Benefit Pension Plan (D

Defined Benefit Pension Plan (Details) $ in Millions	Aug. 31, 2023 USD ($)
Precoat Metals Business Division
Business Acquisition [Line Items]
Accumulated benefit obligation in excess of plan assets	$ 31.7

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Aug. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Environmental liability, current	$ 3.5
Environment liability	$ 22.4