AZZ (AZZ) 10-Q 9 Jan 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Nov. 30, 2023	Dec. 29, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 30, 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	Q3
Current Fiscal Year End Date	--02-28

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Statement [Abstract]
Sales	$ 381,605	$ 373,301	$ 1,171,020	$ 987,145
Costs and Expenses
Cost of sales	293,456	300,219	888,606	752,455
Gross margin	88,149	73,082	282,414	234,690
Selling, general and administrative	35,325	27,689	103,087	97,247
Operating income from continuing operations	52,824	45,393	179,327	137,443
Interest expense	25,855	26,123	82,331	61,739
Equity in (earnings) loss of unconsolidated subsidiaries	(8,742)	(1,006)	(11,136)	(1,006)
Other (income) expense, net	41	(610)	(9)	(582)
Income from continuing operations before income taxes	35,670	20,886	108,141	77,292
Income tax expense	8,780	2,447	24,397	18,380
Net income from continuing operations	26,890	18,439	83,744	58,912
Income from discontinued operations, net of tax	0	1,665	0	17,126
Loss on disposal of discontinued operations, net of tax	0	(40,646)	0	(130,073)
Net income (loss) from discontinued operations	0	(38,981)	0	(112,947)
Net income (loss)	26,890	(20,542)	83,744	(54,035)
Dividends on preferred stock	(3,600)	(3,600)	(10,800)	(4,640)
Net income (loss) available to common shareholders	$ 23,290	$ (24,142)	$ 72,944	$ (58,675)
Basic earnings (loss) per share
Earnings (loss) per common share from continuing operations (in dollars per share)	$ 0.93	$ 0.60	$ 2.91	$ 2.19
Earnings (loss) per common share from discontinued operations (in dollars per share)	0	(1.57)	0	(4.55)
Basic earnings per common share (usd per share)	0.93	(0.97)	2.91	(2.37)
Diluted Earnings (Loss) Per Share [Abstract]
Diluted earnings per common share (usd per share)	0.92	(0.97)	2.86	(2.35)
Earnings (loss) per common share from continuing operations (in dollars per share)	0.92	0.59	2.86	2.17
Earnings (loss) per common share from discontinued operations (in dollars per share)	$ 0	$ (1.56)	$ 0	$ (4.52)
Weighted average shares outstanding
Weighted average number common shares, basic (shares)	25,077,000	24,867,000	25,024,000	24,804,000
Weighted average number common shares, diluted (shares)	29,330,000	24,995,000	29,278,000	24,984,000
Cash dividends declared per common share (usd per share)	$ 0.17	$ 0.17	$ 0.51	$ 0.51

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss) available to common shareholders	$ 23,290	$ (24,142)	$ 72,944	$ (58,675)
Other Comprehensive Income (Loss):
Unrealized translation gain (loss)	3,029	(5,019)	1,293	(7,765)
Reclassification of foreign currency translation adjustment from accumulated other comprehensive loss to loss on sale of discontinued operations	0	27,750	0	27,750
Unrealized gain (loss) on interest rate swap, net of tax	(115)	(3,512)	1,867	(3,512)
Amounts reclassified from accumulated other comprehensive income to earnings, net of tax	(1,057)	0	(2,544)	0
Other comprehensive income	1,857	19,219	616	16,473
Comprehensive income (loss)	$ 25,147	$ (4,923)	$ 73,560	$ (42,202)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Nov. 30, 2023	Nov. 30, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on interest rate swap, tax	$ (42)	$ 678
Amounts reclassified from accumulated other comprehensive income to earnings, tax	(384)	(924)
Unrealized translation gain (loss)	3,029	1,293
Reclassification of foreign currency translation adjustment from accumulated other comprehensive loss to loss on sale of discontinued operations	$ 0	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2023	Feb. 28, 2023
Current assets:
Cash and cash equivalents	$ 7,509	$ 2,820
Accounts receivable, net of allowance for credit losses of $2,096 and $5,752 at February 28, 2023 and February 28, 2022, respectively	142,463	156,443
Other receivables	31,005	26,969
Inventories	126,737	143,920
Contract assets	75,719	79,273
Prepaid expenses and other	9,295	7,991
Total current assets	392,728	417,416
Property, plant and equipment, net	525,338	498,503
Right-of-use assets	22,830	26,392
Goodwill	705,487	702,512
Deferred tax assets	5,820	12,467
Intangibles and other assets, net	451,289	469,392
Investment in joint venture	97,200
Other assets	8,026	10,037
Total assets	2,208,756	2,221,479
Current liabilities:
Accounts payable	95,158	84,256
Income tax payable	45	272
Accrued salaries and wages	25,868	26,262
Other accrued liabilities	72,476	70,047
Lease liability, short-term	6,453	6,403
Total current liabilities	200,000	187,240
Long-term debt, net	980,004	1,058,120
Lease liability, long-term	17,112	20,704
Deferred tax liabilities	33,370	40,536
Other long-term liabilities	57,120	61,419
Total liabilities	1,287,606	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 November 30, 2023 and November 30, 2022, respectively	25,077	24,912
Capital in excess of par value	333,555	326,839
Retained earnings	566,235	506,042
Accumulated other comprehensive loss	(3,957)	(4,573)
Total shareholders’ equity	921,150	853,460
Total liabilities and shareholders' equity	2,208,756	2,221,479
AIS Joint Venture
Current assets:
Investment in joint venture	97,238	84,760
Series A Preferred Stock
Shareholders' Equity:
Series A Convertible Preferred Stock, $1 par, shares authorized 240; 240 shares issued and outstanding at November 30, 2023 and 240000 shares issued and outstanding at November 30, 2022	$ 240	$ 240

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2023	Feb. 28, 2023
Accounts receivable, allowance for doubtful accounts	$ 2,096	$ 5,752
Preferred stock, shares outstanding (in shares)	240,000	240,000
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

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Cash Flows From Operating Activities:
Net income (loss) available to common shareholders	$ 72,944	$ (58,675)
Net income (loss) from discontinued operations	0	112,947
Dividends on preferred stock	10,800	4,640
Net income from continuing operations	83,744	58,912
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Bad debt expense (recovery)	53	(38)
Depreciation and amortization	59,034	55,813
Deferred income taxes	(274)	(20,421)
Equity in earnings of unconsolidated entities	(11,136)	(1,006)
Impairment of long-lived assets	0	235
Net (gain) on sale of property, plant and equipment	(39)	(1,381)
Amortization of debt financing costs	9,105	5,916
Share-based compensation expense	6,207	7,138
Changes in current assets and current liabilities	38,819	(34,969)
Changes in other long-term assets and long-term liabilities	(4,585)	(1,577)
Net cash provided by operating activities of continuing operations	180,928	68,622
Cash flows from investing activities
Purchase of property, plant and equipment	(66,900)	(35,085)
Acquisition of subsidiaries, net of cash acquired	0	(1,283,448)
Proceeds from sale of subsidiaries, net	0	106,766
Other investing activities	47	4,114
Net cash used in investing activities of continuing operations	(66,853)	(1,207,653)
Cash flows from financing activities:
Proceeds from issuance of common stock	1,465	1,767
Payments for taxes related to net share settlement of equity awards	(791)	(2,592)
Proceeds from revolving loan	189,000	255,000
Payments on revolving loan	(274,000)	(322,000)
Proceeds from long term debt	0	1,540,000
Payments of debt financing costs	(1,299)	(87,555)
Payments on long term debt and finance leases	(268)	(366,500)
Payments of dividends	(23,551)	(12,664)
Net cash provided by (used in) financing activities of continuing operations	(109,444)	1,005,456
Effect of exchange rate changes on cash	58	(2,199)
Net cash provided by operating activities from discontinued operations	0	7,973
Net cash used in investing activities from discontinued operations	0	(3,991)
Net cash provided by financing activities from discontinued operations	0	120,000
Net cash provided by discontinued operations	0	123,982
Net increase (decrease) in cash and cash equivalents	4,689	(11,792)
Cash and cash equivalents at beginning of period	2,820	15,082
Cash and cash equivalents at end of period	$ 7,509	$ 3,290

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	7,118			7,118
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)			136
Common stock issued under stock-based plans and related income tax expense	(2,592)		$ 136	(2,728)
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	(4,640)				(4,640)
Cash dividends paid on common shares	(12,664)				(12,664)
Net income (loss) available to common shareholders	(54,035)				(54,035)
Other comprehensive income	16,473					16,473
Balance, ending balance (shares) at Nov. 30, 2022		240	24,876
Balance, ending balance at Nov. 30, 2022	852,513	$ 240	$ 24,876	325,433	512,815	(10,851)
Balance, beginning balance (shares) at Aug. 31, 2022			24,862
Balance, beginning balance at Aug. 31, 2022	859,621		$ 24,862	323,386	541,203	(30,070)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	2,348			2,348
Common stock issued under stock-based plans and related income tax expense (shares)			14
Common stock issued under stock-based plans and related income tax expense	(287)		$ 14	(301)
Dividends on preferred stock	(3,600)				(3,600)
Cash dividends paid on common shares	(4,246)				(4,246)
Net income (loss) available to common shareholders	(20,542)				(20,542)
Other comprehensive income	19,219					19,219
Balance, ending balance (shares) at Nov. 30, 2022		240	24,876
Balance, ending balance at Nov. 30, 2022	852,513	$ 240	$ 24,876	325,433	512,815	(10,851)
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	6,207			6,207
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	1,465		$ 42	1,423
Dividends on preferred stock	(10,800)				(10,800)
Cash dividends paid on common shares	(12,751)				(12,751)
Net income (loss) available to common shareholders	83,744				83,744
Other comprehensive income	616					616
Balance, ending balance (shares) at Nov. 30, 2023		240	25,077
Balance, ending balance at Nov. 30, 2023	921,150	$ 240	$ 25,077	333,555	566,235	(3,957)
Balance, beginning balance (shares) at Aug. 31, 2023		240	25,077
Balance, beginning balance at Aug. 31, 2023	898,077	$ 240	$ 25,077	331,366	547,208	(5,814)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	2,189			2,189
Dividends on preferred stock	(3,600)				(3,600)
Cash dividends paid on common shares	(4,263)				(4,263)
Net income (loss) available to common shareholders	26,890				26,890
Other comprehensive income	1,857					1,857
Balance, ending balance (shares) at Nov. 30, 2023		240	25,077
Balance, ending balance at Nov. 30, 2023	$ 921,150	$ 240	$ 25,077	$ 333,555	$ 566,235	$ (3,957)

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
	Nov. 30, 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 nine months ended November 30, 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 nine months ended November 30, 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. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, which are necessary to present fairly the financial position of the Company as of November 30, 2023, the results of its operations for the three and nine months ended November 30, 2023 and 2022, and cash flows for the nine months ended November 30, 2023 and 2022. The interim results reported herein are not necessarily indicative of results for a full year. Significant Accounting Policies Other receivables Other receivables includes income taxes receivable, receivables for supplier rebates, and other miscellaneous receivables. Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We are currently assessing the impact of this update on our consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The update will be effective for annual periods beginning after December 15, 2024. We are currently assessing the impact of this update on our consolidated financial statement disclosures.

Acquisitions

Acquisitions	9 Months Ended
	Nov. 30, 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"). AZZ Precoat Metals 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 8 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. 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, net $ 77,422 Inventories 43,369 Contract assets 68,314 Prepaid expenses and other 2,247 Property, plant and equipment 305,503 Right-of-use assets 13,753 Goodwill 527,793 Deferred tax asset 8,660 Intangible assets, net 446,000 Other assets 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 pension obligation and certain environmental liabilities assumed as part of the Precoat Acquisition. See Notes 16 and 17 for more information about these long-term liabilities. Unaudited Pro Forma Information The following unaudited pro forma financial information for the three and nine months ended November 30, 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 November 30, Nine Months Ended November 30, 2022 2022 Revenue $ 373,301 $ 1,180,165 Net income from continuing operations (1) $ 18,439 $ 43,442 (1) Net income for the nine months ended November 30, 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	9 Months Ended
	Nov. 30, 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 nine months ended November 30, 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 a non-cash, pre-tax loss on disposal of $159.9 million, of which $45.0 million was recognized during the three months ended November 30, 2022, and $114.9 million was recognized during the second 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 nine months ended November 30, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands): Three Months Ended Nine Months Ended November 30, 2022 November 30, 2022 Sales $ 42,300 $ 256,224 Cost of sales 35,020 202,707 Gross margin 7,280 53,517 Selling, general and administrative 4,074 26,186 Loss on disposal of discontinued operations 45,010 159,910 Operating loss from discontinued operations (41,804) (132,579) Interest expense 2 8 Other (income) expense, net 2,002 6,270 Loss from discontinued operations before income tax (43,808) (138,857) Income tax benefit (4,827) (25,910) Net loss from discontinued operations $ (38,981) $ (112,947) Loss per common share from discontinued operations: Basic loss per share $ (1.57) $ (4.55) Diluted loss per share $ (1.56) $ (4.52) The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands): Nine Months Ended November 30, 2022 Depreciation and amortization $ 7,279 Purchase of property, plant and equipment 4,831 Non-cash loss on disposal of discontinued operations (159,910) Gain on sale of property, plant and equipment 486

Inventories (Notes)

Inventories (Notes)	9 Months Ended
	Nov. 30, 2023
Inventory Disclosure [Abstract]
Inventories	4. Inventories The following table summarizes the components of inventory (in thousands): As of November 30, 2023 February 28, 2023 Raw material $ 120,761 $ 138,227 Work in process 1,587 1,558 Finished goods 4,389 4,135 Total inventories $ 126,737 $ 143,920

Earnings Per Share

Earnings Per Share	9 Months Ended
	Nov. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	5. 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 26,890 $ 18,439 $ 83,744 $ 58,912 Dividends on preferred stock (3,600) (3,600) (10,800) (4,640) Numerator for basic earnings per share continuing operations $ 23,290 $ 14,839 $ 72,944 $ 54,272 Dividends on preferred stock 3,600 — 10,800 — Numerator for diluted earnings per share continuing operations $ 26,890 $ 14,839 $ 83,744 $ 54,272 Net loss from discontinued operations $ — $ (38,981) $ — $ (112,947) Net income (loss) available to common shareholders $ 23,290 $ (24,142) $ 72,944 $ (58,675) Dividends on preferred stock 3,600 — 10,800 — Numerator for diluted earnings per share—net income (loss) available to common shareholders $ 26,890 $ (24,142) $ 83,744 $ (58,675) Denominator: Weighted average shares outstanding for basic earnings per share 25,077 24,867 25,024 24,804 Effect of dilutive securities: Employee and director stock awards 136 128 137 180 Series A Convertible Preferred Stock 4,117 — 4,117 — Denominator for diluted earnings per share 29,330 24,995 29,278 24,984 Basic earnings (loss) per share Earnings per common share from continuing operations $ 0.93 $ 0.60 $ 2.91 $ 2.19 Loss per common share from discontinued operations $ — $ (1.57) $ — $ (4.55) Earnings (loss) per common share $ 0.93 $ (0.97) $ 2.91 $ (2.37) Diluted earnings (loss) per share Earnings per common share from continuing operations $ 0.92 $ 0.59 $ 2.86 $ 2.17 Loss per common share from discontinued operations $ — $ (1.56) $ — $ (4.52) Earnings (loss) per common share $ 0.92 $ (0.97) $ 2.86 $ (2.35) For the three months ended November 30, 2023 and 2022, approximately 120,819 and 103,403 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 nine months ended November 30, 2023 and 2022, 126,356 and 78,862 shares, respectively, were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive. In addition, all shares related to the Series A Convertible Preferred Stock (4.1 million weighted average shares) were excluded from the computation of diluted earnings per share for the three and nine months ended November 30, 2022, as their effect would have been anti-dilutive. These shares could be dilutive in future periods.

Sales

Sales	9 Months Ended
	Nov. 30, 2023
Revenues [Abstract]
Sales	6. Sales Disaggregated Sales The following table presents disaggregated sales, for continuing operations, by customer industry (in thousands): Three Months Ended November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Sales: Construction $ 214,081 $ 205,316 $ 637,035 $ 493,573 Industrial 35,489 37,330 118,273 118,457 Consumer 29,384 29,864 99,537 78,972 Transportation 35,871 33,597 107,734 98,715 Electrical/Utility 24,804 26,131 76,116 69,100 Other (1) 41,976 41,063 132,325 128,328 Total Sales $ 381,605 $ 373,301 $ 1,171,020 $ 987,145 (1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling. See also Note 8 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 AZZ 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	9 Months Ended
	Nov. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	7. 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): Nine Months Ended November 30, 2023 2022 Decrease (increase) in current assets: Accounts receivable, net $ 13,922 $ (6,927) Other receivables (4,033) (9,503) Inventories 17,191 (14,646) Contract assets 1,136 (3,950) Prepaid expenses and other (1,304) (6,195) Increase (decrease) in current liabilities: Accounts payable 8,654 (15,122) Income taxes payable (227) (3,784) Accrued expenses 3,480 25,158 Changes in current assets and current liabilities $ 38,819 $ (34,969) Cash flows related to interest and income taxes were as follows (in thousands): Nine Months Ended November 30, 2023 2022 Cash paid for interest $ 74,993 $ 52,488 Cash paid for income taxes 17,683 15,627 Supplemental disclosures of non-cash investing and financing activities were as follows (in thousands): Nine Months Ended November 30, 2023 2022 Issuance of preferred stock in exchange for convertible notes $ — $ 233,722 Accrued dividends on preferred stock 2,400 4,640 Accruals for capital expenditures 4,768 960

Operating Segments

Operating Segments	9 Months Ended
	Nov. 30, 2023
Segment Reporting [Abstract]
Operating Segments	8. 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 and liabilities 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 nine months ended November 30, 2023 and 2022 was as follows (in thousands): Three Months Ended November 30, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 163,186 $ 218,419 $ — $ — $ 381,605 Cost of sales 115,952 177,504 — — 293,456 Gross margin 47,234 40,915 — — 88,149 Selling, general and administrative 9,392 8,163 290 17,480 35,325 Operating income (loss) from continuing operations 37,842 32,752 (290) (17,480) 52,824 Interest expense — — — 25,855 25,855 Equity in earnings of unconsolidated subsidiaries — — (8,742) — (8,742) Other expense 29 — — 12 41 Income (loss) from continuing operations before income tax $ 37,813 $ 32,752 $ 8,452 (43,347) 35,670 Income tax expense 8,780 8,780 Net income (loss) from continuing operations $ (52,127) $ 26,890 Nine Months Ended November 30, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 501,816 $ 669,204 $ — $ — $ 1,171,020 Cost of sales 353,280 535,326 — — 888,606 Gross margin 148,536 133,878 — — 282,414 Selling, general and administrative 20,143 24,429 6,244 52,271 103,087 Operating income (loss) from continuing operations 128,393 109,449 (6,244) (52,271) 179,327 Interest expense — — — 82,331 82,331 Equity in earnings of unconsolidated subsidiaries — — (11,136) — (11,136) Other (income) expense 40 — — (49) (9) Income (loss) from continuing operations before income tax $ 128,353 $ 109,449 $ 4,892 (134,553) 108,141 Income tax expense 24,397 24,397 Net income (loss) from continuing operations $ (158,950) $ 83,744 (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. (2) Interest 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. Three Months Ended November 30, 2022 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 158,274 $ 215,027 $ — $ — $ 373,301 Cost of sales 120,134 180,085 — — 300,219 Gross margin 38,140 34,942 — — 73,082 Selling, general and administrative 4,594 13,889 — 9,206 27,689 Operating income (loss) from continuing operations 33,546 21,053 — (9,206) 45,393 Interest expense — — — 26,123 26,123 Equity in earnings of unconsolidated subsidiaries — — (1,006) — (1,006) Other income (124) — — (486) (610) Income (loss) from continuing operations before income tax $ 33,670 $ 21,053 $ 1,006 (34,843) 20,886 Income tax expense 2,447 2,447 Net income (loss) from continuing operations $ (37,290) $ 18,439 Nine Months Ended November 30, 2022 Metal Coatings Precoat Metals (4) Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 487,567 $ 499,578 $ — $ — $ 987,145 Cost of sales 350,152 402,303 — — 752,455 Gross margin 137,415 97,275 — — 234,690 Selling, general and administrative 13,603 33,361 — 50,283 97,247 Operating income (loss) from continuing operations 123,812 63,914 — (50,283) 137,443 Interest expense — — — 61,739 61,739 Equity in earnings of unconsolidated subsidiaries — — (1,006) — (1,006) Other (income) expense 6 (41) — (547) (582) Income (loss) from continuing operations before income tax $ 123,806 $ 63,955 $ 1,006 (111,475) 77,292 Income tax expense 18,380 18,380 Net income (loss) from continuing operations $ (129,855) $ 58,912 (1) Infrastructure Solutions segment includes the Company’s equity in (earnings) loss from its investment in the AVAIL JV. (2) Interest expense and Income tax expense are included in the Corporate segment as these items are not allocated to the segments. (3) For fiscal year 2023, amortization expense for acquired intangible assets is included in Metal Coatings expenses in "Cost of sales" and in Precoat Metals in "Selling, general and administrative" expense. (4) For the nine months ended November 30, 2022, Precoat Metals segment includes results from May 13, 2022 - November 30, 2022. Asset balances by operating segment for each period were as follows (in thousands): As of November 30, 2023 February 28, 2023 Assets: Metal Coatings $ 559,149 $ 588,337 Precoat Metals 1,504,828 1,488,810 Infrastructure Solutions - Investment in Joint Venture 97,238 84,760 Corporate 47,541 59,572 Total assets $ 2,208,756 $ 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Sales: United States $ 370,485 $ 363,660 $ 1,140,344 $ 951,855 Canada 11,120 9,641 30,676 35,290 Total $ 381,605 $ 373,301 $ 1,171,020 $ 987,145 As of November 30, 2023 February 28, 2023 Property, plant and equipment, net: United States $ 506,070 $ 478,722 Canada 19,268 19,781 Total $ 525,338 $ 498,503

Investments in Unconsolidated E

Investments in Unconsolidated Entity	9 Months Ended
	Nov. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entity	9. Investments in Unconsolidated Entity AVAIL JV

Derivative Instruments

Derivative Instruments	9 Months Ended
	Nov. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	10. 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 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 an 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 $543.1 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 November 30, 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 the ineffective portion, is immediately recognized in earnings. During the nine months ended November 30, 2023, we reclassified $3.5 million before income tax, or $2.5 million net of tax, from other comprehensive income to earnings.

Debt

Debt	9 Months Ended
	Nov. 30, 2023
Debt Disclosure [Abstract]
Debt	11. Debt The Company’s long-term debt instruments and balances outstanding for each of the periods presented (in thousands): As of November 30, 2023 February 28, 2023 Revolving Credit Facility $ 10,000 $ 95,000 Term Loan B 1,030,250 1,030,250 Total debt, gross $ 1,040,250 $ 1,125,250 Unamortized debt issuance costs (60,246) (67,130) Total debt, net 980,004 1,058,120 Less current portion of long-term debt — — Long-term debt, net $ 980,004 $ 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 November 30, 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% (as of November 30, 2023—see Note 18 for information related to the repricing of the Company’s Revolving Credit Facility on December 20, 2023); 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 not required at this time. The weighted average interest rate for the Company's outstanding debt, including the Revolving Credit Facility and the Term Loan B, was 8.54% at November 30, 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 decreases by 25 basis points through May 31, 2024, when the maximum Total Net Leverage Ratio reaches 4.5. As of November 30, 2023, the Company was required to maintain a Total Net Leverage Ratio no greater than 5.0. As of November 30, 2023, we were in compliance with all covenants or other requirements set forth in the debt agreements. As of November 30, 2023, we had $1.04 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 November 30, 2023, we are in compliance with each of the covenants related to these outstanding borrowings. Additionally, as of November 30, 2023, we had approximately $375.5 million of additional credit available for future draws or letters of credit. Letters of Credit As of November 30, 2023, we had total outstanding letters of credit in the amount of $14.5 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	9 Months Ended
	Nov. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. 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 "Other assets" in the condensed consolidated balance sheet as of November 30, 2023. See Note 10 for more information. The Company’s financial instrument that is measured at fair value on a recurring basis as of November 30, 2023 and February 28, 2023 is as follows (dollars in thousands): Carrying Value Carrying Value November 30, 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 $ 2,975 $ — $ 2,975 $ — $ 3,925 $ — $ 3,925 $ — Total Assets $ 2,975 $ 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. As of November 30, 2023, the estimated fair value of the investment in the AVAIL JV approximates the carrying value of $97.2 million. 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 for debt issues with similar characteristics or rates currently available for debt with similar terms and is included in the Level 2 fair value hierarchy. The principal amount of our outstanding debt was $1.04 billion and $1.13 billion at November 30, 2023 and February 28, 2023, respectively. The estimated fair value of our outstanding debt was $1.04 billion and $1.13 billion at November 30, 2023 and February 28, 2023, respectively.

Leases

Leases	9 Months Ended
	Nov. 30, 2023
Leases [Abstract]
Leases	13. Leases The Company is a lessee under various leases for facilities and equipment. As of November 30, 2023, the Company was the lessee for 159 operating leases and 25 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 November 30, 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 November 30, 2023 and February 28, 2023 (in thousands): Balance Sheet Classification As of November 30, 2023 February 28, 2023 Assets Right-of-use assets Right-of-use assets $ 22,830 $ 26,392 Liabilities Operating lease liabilities ― short-term Lease liability - short-term $ 5,999 $ 6,119 Operating lease liabilities ― long-term Lease liability - long-term 15,732 19,659 Finance lease liabilities ― short-term Lease liability - short-term 454 284 Finance lease liabilities ― long-term Lease liability - long-term 1,380 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Operating cash flows from operating leases included in lease liabilities $ 1,811 $ 2,862 $ 5,471 $ 8,069 Lease liabilities obtained from new ROU assets - operating 60 2,396 1,942 4,938 Decrease in ROU assets related to lease terminations — — (1,294) — Operating and financing cash flows from financing leases included in lease liabilities 130 70 330 182 Lease liabilities obtained from new ROU assets - financing 173 — 773 398 As of November 30, 2023 February 28, 2023 Weighted-average remaining lease term - operating leases 4.29 years 5.04 years Weighted-average discount rate - operating leases 4.44 % 4.31 % Weighted-average remaining lease term - financing leases 4.25 years 4.61 years Weighted-average discount rate - financing leases 5.66 % 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Cost of sales $ 2,997 $ 3,306 $ 9,234 $ 8,590 Selling, general and administrative 495 494 1,500 1,435 Total lease cost $ 3,492 $ 3,800 $ 10,734 $ 10,025 As of November 30, 2023, maturities of the Company's lease liabilities were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2024 $ 1,787 $ 136 $ 1,923 2025 6,532 536 7,068 2026 5,583 459 6,042 2027 4,410 423 4,833 2028 2,441 349 2,790 2029 1,871 138 2,009 Thereafter 1,252 24 1,276 Total lease payments $ 23,876 $ 2,065 $ 25,941 Less imputed interest (2,145) (231) (2,376) Total $ 21,731 $ 1,834 $ 23,565 The Company subleases multiple buildings in Columbia, South Carolina to multiple subtenants. The Columbia sublease agreements are by and between AZZ 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 $0.3 million and $0.8 million of income from subleases during the three and nine months ended November 30, 2023, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Nov. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	14. Income Taxes Continuing Operations The provision for income taxes from continuing operations reflects an effective tax rate of 24.6% for the three months ended November 30, 2023, compared to 11.7% for the three months ended November 30, 2022. The increase in the effective tax rate is attributable to a favorable adjustment in the prior year period due to the recognition of an outside basis difference related to the AVAIL JV. The provision for income taxes from continuing operations reflects an effective tax rate of 22.6% for the nine months ended November 30, 2023, compared to 23.8% for the prior year comparable period. The decrease in the effective tax rate is attributable to 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 nine months ended November 30, 2022 (in thousands): Three Months Ended Nine Months Ended November 30, 2022 November 30, 2022 Income from discontinued operations before income taxes $ 1,202 $ 21,053 Income tax (expense) benefit 463 (3,927) Income from discontinued operations, net of tax $ 1,665 $ 17,126 Loss on disposal of discontinued operations $ (45,010) $ (159,910) Income tax benefit 4,364 29,837 Loss on disposal of discontinued operations, net of tax $ (40,646) $ (130,073) The provision for income taxes from discontinued operations reflects an effective tax rate of 11.0% and 18.7% for the three and nine months ended November 30, 2022.

Equity

Equity	9 Months Ended
	Nov. 30, 2023
Equity [Abstract]
Equity	15. 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 November 30, 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 nine months ended November 30, 2023 and 2022 consisted of the following (in thousands): Three Months Ended November 30, 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 $ (9,307) $ 119 $ 3,374 $ (5,814) $ (30,070) $ — $ — $ (30,070) Other comprehensive income before reclassification 3,029 — (115) 2,914 (5,019) — (3,512) (8,531) Amounts reclassified from AOCI — — (1,057) (1,057) 27,750 — — 27,750 Net change in AOCI 3,029 — (1,172) 1,857 22,731 — (3,512) 19,219 Balance as of end of period $ (6,278) $ 119 $ 2,202 $ (3,957) $ (7,339) $ — $ (3,512) $ (10,851) Nine Months Ended November 30, 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 1,293 — 1,867 3,160 (7,765) — (3,512) (11,277) Amounts reclassified from AOCI — — (2,544) (2,544) 27,750 — — 27,750 Net change in AOCI 1,293 — (677) 616 19,985 — (3,512) 16,473 Balance as of end of period $ (6,278) $ 119 $ 2,202 $ (3,957) $ (7,339) $ — $ (3,512) $ (10,851)

Defined Benefit Pension Plan

Defined Benefit Pension Plan	9 Months Ended
	Nov. 30, 2023
Retirement Benefits [Abstract]
Defined Benefit Pension Plan	16. 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 November 30, 2023, the Plan was underfunded, and the Company has a pension liability of $31.6 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	9 Months Ended
	Nov. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. 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 30, 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. During the third quarter of fiscal 2024, all of the parties entered into a confidential settlement agreement, with no parties admitting any guilt or negligence and the Company agreed to pay the owners/licensee $5.75 million on or around January 15, 2024 to resolve all outstanding matters related to the dispute. 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 second quarter of fiscal year 2024, and is included in "Selling, general and administrative" expense in the consolidated statement of operations for the nine months ended November 30, 2023 and in "Other accrued liabilities" in the consolidated balance sheet as of November 30, 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. In 2017, Southeast Texas Industries, Inc. (“STI”) filed a breach of contract lawsuit against the Company in the 1st District Court of Jasper County, Texas (the “Court”). In 2020, the Company filed a counter suit against STI for amounts due to the Company for work performed. The parties unsuccessfully mediated the case in November 2021. On October 16, 2023, the case went to trial, and on October 27, 2023, the jury rendered a verdict in favor of STI and against AZZ Beaumont in the amount of $4.5 million in damages for breach of contract and breach of express warranty. After a final judgment amount is entered with the Court, the Company expects to pursue all available appellate options as the Company believes it has strong grounds for appeal, which may take up to 2 years. As of November 30, 2023, the Company has recorded a legal accrual of $4.5 million, which is included in "Other accrued liabilities" on our consolidated balance sheets, reflecting the Company's best estimate of the probable loss. It is reasonably possible that our estimate of the probable loss may change after: (i) the hearing on attorney fees, which is currently scheduled for January 26, 2024; (ii) after the Judge renders a final judgement; or (iii) throughout the appellate process. The Company expects to purchase a supersedeas bond to cover the final judgment amount throughout the duration of the appellate process. 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 November 30, 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, which the Company believes is collectible. However, neither the likelihood of an unfavorable outcome nor the ultimate collectability of this receivable, if any, 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 November 30, 2023, t he reserve balance for environmental liabilities was $22.0 million, of which $3.2 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. Capital Commitments—Greenfield Aluminum Coil Coating Facility We are expanding our coatings capabilities by constructing a new 25-acre aluminum coil coating facility in Washington, Missouri that is expected to be operational in 2025. The new facility will be included in the AZZ Precoat Metals segment and is supported by a take-or-pay contract for approximately 75% of the output from the new plant. We expect to spend approximately $125.8 million in progress payments over the estimated two-year construction timeline and we currently have capital commitments of approximately $48.4 million. We expect to pay approximately $71.2 million in fiscal 2024, of which $33.6 million was paid during the current nine-month period. The remaining payments in fiscal 2024 are expected to be funded through cash flows from operations and borrowings under the Revolving Credit Facility. The project is not expected to result in a material adverse effect on our business, results of operations, cash flow or financial condition.

Subsequent Events

Subsequent Events	9 Months Ended
	Nov. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 26,890	$ (20,542)	$ 83,744	$ (54,035)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Nov. 30, 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)	9 Months Ended
	Nov. 30, 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 nine months ended November 30, 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 nine months ended November 30, 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.
Other receivables	Other receivables Other receivables includes income taxes receivable, receivables for supplier rebates, and other miscellaneous receivables.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We are currently assessing the impact of this update on our consolidated financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The update will be effective for annual periods beginning after December 15, 2024. We are currently assessing the impact of this update on our consolidated financial statement disclosures.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Nov. 30, 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, net $ 77,422 Inventories 43,369 Contract assets 68,314 Prepaid expenses and other 2,247 Property, plant and equipment 305,503 Right-of-use assets 13,753 Goodwill 527,793 Deferred tax asset 8,660 Intangible assets, net 446,000 Other assets 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 November 30, Nine Months Ended November 30, 2022 2022 Revenue $ 373,301 $ 1,180,165 Net income from continuing operations (1) $ 18,439 $ 43,442 (1) Net income for the nine months ended November 30, 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)	9 Months Ended
	Nov. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The results of operations from discontinued operations for the three and nine months ended November 30, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands): Three Months Ended Nine Months Ended November 30, 2022 November 30, 2022 Sales $ 42,300 $ 256,224 Cost of sales 35,020 202,707 Gross margin 7,280 53,517 Selling, general and administrative 4,074 26,186 Loss on disposal of discontinued operations 45,010 159,910 Operating loss from discontinued operations (41,804) (132,579) Interest expense 2 8 Other (income) expense, net 2,002 6,270 Loss from discontinued operations before income tax (43,808) (138,857) Income tax benefit (4,827) (25,910) Net loss from discontinued operations $ (38,981) $ (112,947) Loss per common share from discontinued operations: Basic loss per share $ (1.57) $ (4.55) Diluted loss per share $ (1.56) $ (4.52) The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands): Nine Months Ended November 30, 2022 Depreciation and amortization $ 7,279 Purchase of property, plant and equipment 4,831 Non-cash loss on disposal of discontinued operations (159,910) Gain on sale of property, plant and equipment 486 The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three and nine months ended November 30, 2022 (in thousands): Three Months Ended Nine Months Ended November 30, 2022 November 30, 2022 Income from discontinued operations before income taxes $ 1,202 $ 21,053 Income tax (expense) benefit 463 (3,927) Income from discontinued operations, net of tax $ 1,665 $ 17,126 Loss on disposal of discontinued operations $ (45,010) $ (159,910) Income tax benefit 4,364 29,837 Loss on disposal of discontinued operations, net of tax $ (40,646) $ (130,073)

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Nov. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table summarizes the components of inventory (in thousands): As of November 30, 2023 February 28, 2023 Raw material $ 120,761 $ 138,227 Work in process 1,587 1,558 Finished goods 4,389 4,135 Total inventories $ 126,737 $ 143,920

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Nov. 30, 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 26,890 $ 18,439 $ 83,744 $ 58,912 Dividends on preferred stock (3,600) (3,600) (10,800) (4,640) Numerator for basic earnings per share continuing operations $ 23,290 $ 14,839 $ 72,944 $ 54,272 Dividends on preferred stock 3,600 — 10,800 — Numerator for diluted earnings per share continuing operations $ 26,890 $ 14,839 $ 83,744 $ 54,272 Net loss from discontinued operations $ — $ (38,981) $ — $ (112,947) Net income (loss) available to common shareholders $ 23,290 $ (24,142) $ 72,944 $ (58,675) Dividends on preferred stock 3,600 — 10,800 — Numerator for diluted earnings per share—net income (loss) available to common shareholders $ 26,890 $ (24,142) $ 83,744 $ (58,675) Denominator: Weighted average shares outstanding for basic earnings per share 25,077 24,867 25,024 24,804 Effect of dilutive securities: Employee and director stock awards 136 128 137 180 Series A Convertible Preferred Stock 4,117 — 4,117 — Denominator for diluted earnings per share 29,330 24,995 29,278 24,984 Basic earnings (loss) per share Earnings per common share from continuing operations $ 0.93 $ 0.60 $ 2.91 $ 2.19 Loss per common share from discontinued operations $ — $ (1.57) $ — $ (4.55) Earnings (loss) per common share $ 0.93 $ (0.97) $ 2.91 $ (2.37) Diluted earnings (loss) per share Earnings per common share from continuing operations $ 0.92 $ 0.59 $ 2.86 $ 2.17 Loss per common share from discontinued operations $ — $ (1.56) $ — $ (4.52) Earnings (loss) per common share $ 0.92 $ (0.97) $ 2.86 $ (2.35)

Sales (Tables)

Sales (Tables)	9 Months Ended
	Nov. 30, 2023
Revenues [Abstract]
Disaggregation of Revenue	The following table presents disaggregated sales, for continuing operations, by customer industry (in thousands): Three Months Ended November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Sales: Construction $ 214,081 $ 205,316 $ 637,035 $ 493,573 Industrial 35,489 37,330 118,273 118,457 Consumer 29,384 29,864 99,537 78,972 Transportation 35,871 33,597 107,734 98,715 Electrical/Utility 24,804 26,131 76,116 69,100 Other (1) 41,976 41,063 132,325 128,328 Total Sales $ 381,605 $ 373,301 $ 1,171,020 $ 987,145 (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)	9 Months Ended
	Nov. 30, 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): Nine Months Ended November 30, 2023 2022 Decrease (increase) in current assets: Accounts receivable, net $ 13,922 $ (6,927) Other receivables (4,033) (9,503) Inventories 17,191 (14,646) Contract assets 1,136 (3,950) Prepaid expenses and other (1,304) (6,195) Increase (decrease) in current liabilities: Accounts payable 8,654 (15,122) Income taxes payable (227) (3,784) Accrued expenses 3,480 25,158 Changes in current assets and current liabilities $ 38,819 $ (34,969) Cash flows related to interest and income taxes were as follows (in thousands): Nine Months Ended November 30, 2023 2022 Cash paid for interest $ 74,993 $ 52,488 Cash paid for income taxes 17,683 15,627 Supplemental disclosures of non-cash investing and financing activities were as follows (in thousands): Nine Months Ended November 30, 2023 2022 Issuance of preferred stock in exchange for convertible notes $ — $ 233,722 Accrued dividends on preferred stock 2,400 4,640 Accruals for capital expenditures 4,768 960

Operating segments (Tables)

Operating segments (Tables)	9 Months Ended
	Nov. 30, 2023
Segment Reporting [Abstract]
Operations and assets by segment	Net income from continuing operations by segment for the three and nine months ended November 30, 2023 and 2022 was as follows (in thousands): Three Months Ended November 30, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 163,186 $ 218,419 $ — $ — $ 381,605 Cost of sales 115,952 177,504 — — 293,456 Gross margin 47,234 40,915 — — 88,149 Selling, general and administrative 9,392 8,163 290 17,480 35,325 Operating income (loss) from continuing operations 37,842 32,752 (290) (17,480) 52,824 Interest expense — — — 25,855 25,855 Equity in earnings of unconsolidated subsidiaries — — (8,742) — (8,742) Other expense 29 — — 12 41 Income (loss) from continuing operations before income tax $ 37,813 $ 32,752 $ 8,452 (43,347) 35,670 Income tax expense 8,780 8,780 Net income (loss) from continuing operations $ (52,127) $ 26,890 Nine Months Ended November 30, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 501,816 $ 669,204 $ — $ — $ 1,171,020 Cost of sales 353,280 535,326 — — 888,606 Gross margin 148,536 133,878 — — 282,414 Selling, general and administrative 20,143 24,429 6,244 52,271 103,087 Operating income (loss) from continuing operations 128,393 109,449 (6,244) (52,271) 179,327 Interest expense — — — 82,331 82,331 Equity in earnings of unconsolidated subsidiaries — — (11,136) — (11,136) Other (income) expense 40 — — (49) (9) Income (loss) from continuing operations before income tax $ 128,353 $ 109,449 $ 4,892 (134,553) 108,141 Income tax expense 24,397 24,397 Net income (loss) from continuing operations $ (158,950) $ 83,744 (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. (2) Interest 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. Three Months Ended November 30, 2022 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 158,274 $ 215,027 $ — $ — $ 373,301 Cost of sales 120,134 180,085 — — 300,219 Gross margin 38,140 34,942 — — 73,082 Selling, general and administrative 4,594 13,889 — 9,206 27,689 Operating income (loss) from continuing operations 33,546 21,053 — (9,206) 45,393 Interest expense — — — 26,123 26,123 Equity in earnings of unconsolidated subsidiaries — — (1,006) — (1,006) Other income (124) — — (486) (610) Income (loss) from continuing operations before income tax $ 33,670 $ 21,053 $ 1,006 (34,843) 20,886 Income tax expense 2,447 2,447 Net income (loss) from continuing operations $ (37,290) $ 18,439 Nine Months Ended November 30, 2022 Metal Coatings Precoat Metals (4) Infrastructure Solutions (1) Corporate (2)(3) Total Sales $ 487,567 $ 499,578 $ — $ — $ 987,145 Cost of sales 350,152 402,303 — — 752,455 Gross margin 137,415 97,275 — — 234,690 Selling, general and administrative 13,603 33,361 — 50,283 97,247 Operating income (loss) from continuing operations 123,812 63,914 — (50,283) 137,443 Interest expense — — — 61,739 61,739 Equity in earnings of unconsolidated subsidiaries — — (1,006) — (1,006) Other (income) expense 6 (41) — (547) (582) Income (loss) from continuing operations before income tax $ 123,806 $ 63,955 $ 1,006 (111,475) 77,292 Income tax expense 18,380 18,380 Net income (loss) from continuing operations $ (129,855) $ 58,912 (1) Infrastructure Solutions segment includes the Company’s equity in (earnings) loss from its investment in the AVAIL JV. (2) Interest expense and Income tax expense are included in the Corporate segment as these items are not allocated to the segments. (3) For fiscal year 2023, amortization expense for acquired intangible assets is included in Metal Coatings expenses in "Cost of sales" and in Precoat Metals in "Selling, general and administrative" expense. (4) For the nine months ended November 30, 2022, Precoat Metals segment includes results from May 13, 2022 - November 30, 2022.
Reconciliation of Assets from Segment to Consolidated	Asset balances by operating segment for each period were as follows (in thousands): As of November 30, 2023 February 28, 2023 Assets: Metal Coatings $ 559,149 $ 588,337 Precoat Metals 1,504,828 1,488,810 Infrastructure Solutions - Investment in Joint Venture 97,238 84,760 Corporate 47,541 59,572 Total assets $ 2,208,756 $ 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Sales: United States $ 370,485 $ 363,660 $ 1,140,344 $ 951,855 Canada 11,120 9,641 30,676 35,290 Total $ 381,605 $ 373,301 $ 1,171,020 $ 987,145
Long-lived Assets by Geographic Areas	As of November 30, 2023 February 28, 2023 Property, plant and equipment, net: United States $ 506,070 $ 478,722 Canada 19,268 19,781 Total $ 525,338 $ 498,503

Investments in Unconsolidated_2

Investments in Unconsolidated Entity (Tables)	9 Months Ended
	Nov. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Summarized Balance Sheet As of November 30, 2023 (1) Current assets $ 273,535 Long-term assets 173,312 Total assets $ 446,847 Current liabilities 102,225 Long-term liabilities 132,175 Total liabilities $ 234,400 Total partners' capital 212,447 Total liabilities and partners' capital $ 446,847 Summarized Operating Data Three Months Ended November 30, 2023 (1) Nine Months Ended November 30, 2023 (1) Sales $ 127,156 $ 346,493 Gross profit 36,150 87,013 Net income 13,139 21,969 (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 nine months ended October 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)	9 Months Ended
	Nov. 30, 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 November 30, 2023 February 28, 2023 Revolving Credit Facility $ 10,000 $ 95,000 Term Loan B 1,030,250 1,030,250 Total debt, gross $ 1,040,250 $ 1,125,250 Unamortized debt issuance costs (60,246) (67,130) Total debt, net 980,004 1,058,120 Less current portion of long-term debt — — Long-term debt, net $ 980,004 $ 1,058,120

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Nov. 30, 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 November 30, 2023 and February 28, 2023 is as follows (dollars in thousands): Carrying Value Carrying Value November 30, 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 $ 2,975 $ — $ 2,975 $ — $ 3,925 $ — $ 3,925 $ — Total Assets $ 2,975 $ 3,925

Leases (Tables)

Leases (Tables)	9 Months Ended
	Nov. 30, 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 November 30, 2023 and February 28, 2023 (in thousands): Balance Sheet Classification As of November 30, 2023 February 28, 2023 Assets Right-of-use assets Right-of-use assets $ 22,830 $ 26,392 Liabilities Operating lease liabilities ― short-term Lease liability - short-term $ 5,999 $ 6,119 Operating lease liabilities ― long-term Lease liability - long-term 15,732 19,659 Finance lease liabilities ― short-term Lease liability - short-term 454 284 Finance lease liabilities ― long-term Lease liability - long-term 1,380 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Operating cash flows from operating leases included in lease liabilities $ 1,811 $ 2,862 $ 5,471 $ 8,069 Lease liabilities obtained from new ROU assets - operating 60 2,396 1,942 4,938 Decrease in ROU assets related to lease terminations — — (1,294) — Operating and financing cash flows from financing leases included in lease liabilities 130 70 330 182 Lease liabilities obtained from new ROU assets - financing 173 — 773 398 As of November 30, 2023 February 28, 2023 Weighted-average remaining lease term - operating leases 4.29 years 5.04 years Weighted-average discount rate - operating leases 4.44 % 4.31 % Weighted-average remaining lease term - financing leases 4.25 years 4.61 years Weighted-average discount rate - financing leases 5.66 % 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 November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Cost of sales $ 2,997 $ 3,306 $ 9,234 $ 8,590 Selling, general and administrative 495 494 1,500 1,435 Total lease cost $ 3,492 $ 3,800 $ 10,734 $ 10,025
Lessee, Operating Lease, Liability, Maturity	As of November 30, 2023, maturities of the Company's lease liabilities were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2024 $ 1,787 $ 136 $ 1,923 2025 6,532 536 7,068 2026 5,583 459 6,042 2027 4,410 423 4,833 2028 2,441 349 2,790 2029 1,871 138 2,009 Thereafter 1,252 24 1,276 Total lease payments $ 23,876 $ 2,065 $ 25,941 Less imputed interest (2,145) (231) (2,376) Total $ 21,731 $ 1,834 $ 23,565
Finance Lease, Liability, Maturity	As of November 30, 2023, maturities of the Company's lease liabilities were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2024 $ 1,787 $ 136 $ 1,923 2025 6,532 536 7,068 2026 5,583 459 6,042 2027 4,410 423 4,833 2028 2,441 349 2,790 2029 1,871 138 2,009 Thereafter 1,252 24 1,276 Total lease payments $ 23,876 $ 2,065 $ 25,941 Less imputed interest (2,145) (231) (2,376) Total $ 21,731 $ 1,834 $ 23,565

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Nov. 30, 2023
Income Tax Disclosure [Abstract]
Disposal Groups, Including Discontinued Operations	The results of operations from discontinued operations for the three and nine months ended November 30, 2022, have been reflected as discontinued operations in the consolidated statements of operations and consist of the following (in thousands): Three Months Ended Nine Months Ended November 30, 2022 November 30, 2022 Sales $ 42,300 $ 256,224 Cost of sales 35,020 202,707 Gross margin 7,280 53,517 Selling, general and administrative 4,074 26,186 Loss on disposal of discontinued operations 45,010 159,910 Operating loss from discontinued operations (41,804) (132,579) Interest expense 2 8 Other (income) expense, net 2,002 6,270 Loss from discontinued operations before income tax (43,808) (138,857) Income tax benefit (4,827) (25,910) Net loss from discontinued operations $ (38,981) $ (112,947) Loss per common share from discontinued operations: Basic loss per share $ (1.57) $ (4.55) Diluted loss per share $ (1.56) $ (4.52) The depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the discontinued operations consist of the following (in thousands): Nine Months Ended November 30, 2022 Depreciation and amortization $ 7,279 Purchase of property, plant and equipment 4,831 Non-cash loss on disposal of discontinued operations (159,910) Gain on sale of property, plant and equipment 486 The following table outlines income or loss and the related tax expense (benefit) from discontinued operations for the three and nine months ended November 30, 2022 (in thousands): Three Months Ended Nine Months Ended November 30, 2022 November 30, 2022 Income from discontinued operations before income taxes $ 1,202 $ 21,053 Income tax (expense) benefit 463 (3,927) Income from discontinued operations, net of tax $ 1,665 $ 17,126 Loss on disposal of discontinued operations $ (45,010) $ (159,910) Income tax benefit 4,364 29,837 Loss on disposal of discontinued operations, net of tax $ (40,646) $ (130,073)

Equity (Tables)

Equity (Tables) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)			The components of accumulated other comprehensive income (loss) ("AOCI"), after tax, for the three and nine months ended November 30, 2023 and 2022 consisted of the following (in thousands): Three Months Ended November 30, 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 $ (9,307) $ 119 $ 3,374 $ (5,814) $ (30,070) $ — $ — $ (30,070) Other comprehensive income before reclassification 3,029 — (115) 2,914 (5,019) — (3,512) (8,531) Amounts reclassified from AOCI — — (1,057) (1,057) 27,750 — — 27,750 Net change in AOCI 3,029 — (1,172) 1,857 22,731 — (3,512) 19,219 Balance as of end of period $ (6,278) $ 119 $ 2,202 $ (3,957) $ (7,339) $ — $ (3,512) $ (10,851) Nine Months Ended November 30, 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 1,293 — 1,867 3,160 (7,765) — (3,512) (11,277) Amounts reclassified from AOCI — — (2,544) (2,544) 27,750 — — 27,750 Net change in AOCI 1,293 — (677) 616 19,985 — (3,512) 16,473 Balance as of end of period $ (6,278) $ 119 $ 2,202 $ (3,957) $ (7,339) $ — $ (3,512) $ (10,851)
Amounts reclassified from AOCI	$ (1,057)	$ 27,750	$ (2,544)	$ 27,750

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details) - operating_segments	9 Months Ended
	Nov. 30, 2023	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	Nov. 30, 2023	Feb. 28, 2023
Business Acquisition [Line Items]
Goodwill		$ 705,487	$ 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	Nov. 30, 2023	Feb. 28, 2023	May 13, 2022
Assets
Goodwill	$ 705,487	$ 702,512
Other assets			$ 546
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			446,000
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	9 Months Ended
	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Business Acquisition [Line Items]
Revenue	$ 373,301		$ 1,180,165
Net income from continuing operations	$ 18,439		$ 43,442
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 - Narra

Discontinued Operations - Narrative (Q) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2022	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal	$ 45,010		$ 159,910
Discontinued Operations, Disposed of by Sale | AZZ Infrastructure Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal	$ 45,010	$ 114,900	$ 159,910
AIS Joint Venture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage of investment				40%
AIS Joint Venture | 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			9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal		$ 45,010			$ 159,910
Net income (loss) from discontinued operations	$ 0	$ (38,981)		$ 0	$ (112,947)
Loss per common share from discontinued operations:
Earnings (loss) per common share from discontinued operations (in dollars per share)	$ 0	$ (1.57)		$ 0	$ (4.55)
Earnings (loss) per common share from discontinued operations (in dollars per share)	$ 0	$ (1.56)		$ 0	$ (4.52)
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		$ 42,300			$ 256,224
Cost of sales		35,020			202,707
Gross margin		7,280			53,517
Selling, general and administrative		4,074			26,186
Loss on disposal		45,010	$ 114,900		159,910
Operating income (loss) from discontinued operations		(41,804)			(132,579)
Interest expense		2			8
Other (income) expense, net		2,002			6,270
Income (loss) from discontinued operations before income tax		(43,808)			(138,857)
Income tax (benefit) expense		(4,827)			(25,910)
Net income (loss) from discontinued operations		$ (38,981)			$ (112,947)
Loss per common share from discontinued operations:
Earnings (loss) per common share from discontinued operations (in dollars per share)		$ (1.57)			$ (4.55)
Earnings (loss) per common share from discontinued operations (in dollars per share)		$ (1.56)			$ (4.52)

Discontinued Operations - Depre

Discontinued Operations - Depreciation, Amortization, Capital Expenditures, and Significant Operating and Investing Noncash Items of the Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of discontinued operations, net of tax	$ (45,010)			$ (159,910)
Gain on sale of property, plant and equipment			$ 39	1,381
Discontinued Operations, Disposed of by Sale | AZZ Infrastructure Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amortization and depreciation				7,279
Purchase of property, plant and equipment				4,831
Loss on disposal of discontinued operations, net of tax	$ (45,010)	$ (114,900)		(159,910)
Gain on sale of property, plant and equipment				$ 486

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Feb. 28, 2023
Inventory Disclosure [Abstract]
Raw material	$ 120,761	$ 138,227
Work-in-process	1,587	1,558
Finished goods	4,389	4,135
Total Inventory	$ 126,737	$ 143,920

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Numerator:
Net income from continuing operations	$ 26,890	$ 18,439	$ 83,744	$ 58,912
Dividends on preferred stock	3,600	3,600	10,800	4,640
Numerator for diluted earnings per share—net income (loss) available to common shareholders	26,890	(24,142)	83,744	(58,675)
Net income from continuing operations available to common shareholders	23,290	14,839	72,944	54,272
Dividends on preferred stock	3,600	0	10,800	0
Numerator for diluted earnings per share continuing operations	26,890	14,839	83,744	54,272
Net income (loss) from discontinued operations	0	(38,981)	0	(112,947)
Net income (loss) available to common shareholders	$ 23,290	$ (24,142)	$ 72,944	$ (58,675)
Denominator:
Denominator for basic earnings per common share-weighted average shares (shares)	25,077,000	24,867,000	25,024,000	24,804,000
Effect of dilutive securities:
Employee and director stock awards	136,000	128,000	137,000	180,000
Series A convertible preferred stock (shares)	4,117,000	0	4,117,000	0
Denominator for diluted earnings per common share (shares)	29,330,000	24,995,000	29,278,000	24,984,000
Earnings per common share from continuing operations
Earnings (loss) per common share from continuing operations (in dollars per share)	$ 0.93	$ 0.60	$ 2.91	$ 2.19
Earnings (loss) per common share from continuing operations (in dollars per share)	0.92	0.59	2.86	2.17
Earnings per common share from discontinued operations:
Earnings (loss) per common share from discontinued operations (in dollars per share)	0	(1.57)	0	(4.55)
Earnings (loss) per common share from discontinued operations (in dollars per share)	0	(1.56)	0	(4.52)
Computation of basic and diluted earnings per share
Basic earnings per common share (usd per share)	0.93	(0.97)	2.91	(2.37)
Diluted earnings per common share (usd per share)	$ 0.92	$ (0.97)	$ 2.86	$ (2.35)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 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	120,819	103,403	126,356	78,862
Convertible Preferred Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	4,100,000		4,100,000

Sales Disaggregated Revenues (D

Sales Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Disaggregation of Revenue [Line Items]
Sales	$ 381,605	$ 373,301	$ 1,171,020	$ 987,145
Industrial
Disaggregation of Revenue [Line Items]
Sales	35,489	37,330	118,273	118,457
Consumer
Disaggregation of Revenue [Line Items]
Sales	29,384	29,864	99,537	78,972
Transportation
Disaggregation of Revenue [Line Items]
Sales	35,871	33,597	107,734	98,715
Electrical/Utility
Disaggregation of Revenue [Line Items]
Sales	24,804	26,131	76,116	69,100
Other
Disaggregation of Revenue [Line Items]
Sales	41,976	41,063	132,325	128,328
Construction
Disaggregation of Revenue [Line Items]
Sales	$ 214,081	$ 205,316	$ 637,035	$ 493,573

Sales - Narrative (Details)

Sales - Narrative (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Feb. 28, 2023
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 1,000	$ 1,300
Contract assets	$ 75,719	$ 79,273

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - New Cash Provided by Operating Activities (Details) - USD ($) $ in Thousands	9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Decrease (increase) in current assets:
Accounts receivable, net	$ 13,922	$ (6,927)
Other receivables	(4,033)	(9,503)
Inventories	17,191	(14,646)
Contract assets	1,136	(3,950)
Prepaid expenses and other	(1,304)	(6,195)
Increase (decrease) in current liabilities:
Accounts payable	8,654	(15,122)
Income taxes payable	(227)	(3,784)
Accrued expenses	3,480	25,158
Changes in current assets and current liabilities	$ 38,819	$ (34,969)

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	9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 74,993	$ 52,488
Cash paid for income taxes	17,683	15,627
Issuance of preferred stock in exchange for convertible notes	0	233,722
Accrued dividends on Series A Preferred Stock	2,400	4,640
Accruals for capital expenditures	$ 4,768	$ 960

Operating segments (Details)

Operating segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	Feb. 28, 2023	Sep. 30, 2022
Operations and assets by segment
Sales	$ 381,605	$ 373,301	$ 1,171,020	$ 987,145
Cost of sales	293,456	300,219	888,606	752,455
Gross margin	88,149	73,082	282,414	234,690
Selling, general and administrative	35,325	27,689	103,087	97,247
Operating income (loss)	52,824	45,393	179,327	137,443
Interest expense	25,855	26,123	82,331	61,739
Equity in (earnings) loss of unconsolidated subsidiaries	(8,742)	(1,006)	(11,136)	(1,006)
Other expense	41	(610)	(9)	(582)
Income taxes	8,780	2,447	24,397	18,380
Net income from continuing operations	26,890	18,439	83,744	58,912
Income (loss) from continuing operations before income tax	35,670	20,886	108,141	77,292
Assets:	2,208,756		2,208,756		$ 2,221,479
Property, plant and equipment, net	525,338		525,338		498,503
AIS Joint Venture
Operations and assets by segment
Ownership percentage of investment						40%
United States
Operations and assets by segment
Sales	370,485	363,660	1,140,344	951,855
Property, plant and equipment, net	506,070		506,070		478,722
Canada
Operations and assets by segment
Sales	11,120	9,641	30,676	35,290
Property, plant and equipment, net	19,268		19,268		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	17,480	9,206	52,271	50,283
Operating income (loss)	(17,480)	(9,206)	(52,271)	(50,283)
Interest expense	25,855	26,123	82,331	61,739
Equity in (earnings) loss of unconsolidated subsidiaries	0	0	0	0
Other expense	12	(486)	(49)	(547)
Income taxes	8,780	2,447	24,397	18,380
Net income from continuing operations	(52,127)	(37,290)	(158,950)	(129,855)
Income (loss) from continuing operations before income tax	(43,347)	(34,843)	(134,553)	(111,475)
Assets:	47,541		47,541		59,572
Metal Coatings | Operating Segments
Operations and assets by segment
Sales	163,186	158,274	501,816	487,567
Cost of sales	115,952	120,134	353,280	350,152
Gross margin	47,234	38,140	148,536	137,415
Selling, general and administrative	9,392	4,594	20,143	13,603
Operating income (loss)	37,842	33,546	128,393	123,812
Interest expense	0	0	0	0
Equity in (earnings) loss of unconsolidated subsidiaries	0	0	0	0
Other expense	29	(124)	40	6
Income (loss) from continuing operations before income tax	37,813	33,670	128,353	123,806
Assets:	559,149		559,149		588,337
Precoat Metals | Operating Segments
Operations and assets by segment
Sales	218,419	215,027	669,204	499,578
Cost of sales	177,504	180,085	535,326	402,303
Gross margin	40,915	34,942	133,878	97,275
Selling, general and administrative	8,163	13,889	24,429	33,361
Operating income (loss)	32,752	21,053	109,449	63,914
Interest expense	0	0	0	0
Equity in (earnings) loss of unconsolidated subsidiaries	0	0	0	0
Other expense	0	0	0	(41)
Income (loss) from continuing operations before income tax	32,752	21,053	109,449	63,955
Assets:	1,504,828		1,504,828		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	290	0	6,244	0
Operating income (loss)	(290)	0	(6,244)	0
Interest expense	0	0	0	0
Equity in (earnings) loss of unconsolidated subsidiaries	(8,742)	(1,006)	(11,136)	(1,006)
Other expense	0	0	0	0
Income (loss) from continuing operations before income tax	8,452	$ 1,006	4,892	$ 1,006
Assets:	$ 97,238		$ 97,238		$ 84,760

Investments in Unconsolidated_3

Investments in Unconsolidated Entity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	Feb. 28, 2023	Sep. 30, 2022
Schedule of Equity Method Investments [Line Items]
Investment in joint venture	$ 97,200		$ 97,200
Equity in (earnings) loss of unconsolidated subsidiaries	(8,742)	$ (1,006)	(11,136)	$ (1,006)
Accounts payable, current	95,158		95,158		$ 84,256
Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Accounts payable, current	4,600		4,600		6,300
AIS Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage of investment						40%
Investment in joint venture	$ 97,238		97,238		$ 84,760
AIS Joint Venture | AZZ Infrastructure Solutions
Schedule of Equity Method Investments [Line Items]
Equity in (earnings) loss of unconsolidated subsidiaries			$ (11,100)
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						$ 97,200

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Schedule of Condensed Balance Sheet For AIS Joint Venture (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Feb. 28, 2023
Assets [Abstract]
Current Assets	$ 392,728	$ 417,416
Total assets	2,208,756	2,221,479
Liabilities [Abstract]
Current liabilities	200,000	187,240
Liabilities	1,287,606	1,368,019
Total liabilities and shareholders' equity	2,208,756	$ 2,221,479
AIS Joint Venture
Assets [Abstract]
Current Assets	273,535
Non-current assets	173,312
Total assets	446,847
Liabilities [Abstract]
Current liabilities	102,225
Non-current liabilities	132,175
Liabilities	234,400
Partners' Capital	212,447
Total liabilities and shareholders' equity	$ 446,847

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		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Statement [Abstract]
Gross margin	$ 88,149	$ 73,082	$ 282,414	$ 234,690
AIS Joint Venture
Income Statement [Abstract]
Sales			127,156	346,493
Gross margin			36,150	87,013
Net income			$ 13,139	$ 21,969

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	Aug. 17, 2023	Sep. 27, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification of AOCI, before tax			$ (3,500)
Amounts reclassified from accumulated other comprehensive income to earnings, net of tax	$ (1,057)	$ 0	(2,544)	$ 0
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate on swap agreement					8.027%	8.627%
Notional amount on swap agreement	$ 543,100		$ 543,100			$ 550,000
Interest Rate Swap, Portion Of Variable Rate Debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate on swap agreement					3.75%	4.277%

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Nov. 30, 2023	Aug. 31, 2023	Feb. 28, 2023	Nov. 30, 2022
Debt Instrument [Line Items]
Total debt, gross	$ 1,040,250		$ 1,125,250	$ 1,130,000
Unamortized debt issuance costs	(60,246)		(67,130)
Fair value of outstanding debt	980,004		1,058,120
Less current portion of long-term debt	0		0
Long-term debt, net	980,004		1,058,120
Term Loan B
Debt Instrument [Line Items]
Total debt, gross	1,030,250	$ 1,000,000	1,030,250
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt, gross	$ 10,000		$ 95,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands					1 Months Ended	9 Months Ended
	May 31, 2024	Dec. 19, 2023	Aug. 17, 2023	Aug. 31, 2022	May 31, 2022	Nov. 30, 2023	Nov. 30, 2022	Dec. 20, 2023	Feb. 28, 2023	May 13, 2022
Debt Instrument [Line Items]
Weighted average interest rate						8.54%
Letters of credit outstanding						$ 14,500
Fair value of outstanding debt						$ 980,004			$ 1,058,120
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						500%	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						$ 1,040,000
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						$ 375,500
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 | Subsequent Event
Debt Instrument [Line Items]
Initial interest rate margin								0.10%
Revolving Credit Facility | 2022 Credit Agreement And Term Loan B
Debt Instrument [Line Items]
Maximum borrowing capacity										400,000
Revolving Credit Facility | 2022 Credit Agreement And Term Loan B | Subsequent Event
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%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subsequent Event
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	Nov. 30, 2023	Feb. 28, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 2,975	$ 3,925
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	(2,975)	(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	(2,975)	(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	Nov. 30, 2023	Feb. 28, 2023	Nov. 30, 2022
Fair Value Disclosures [Abstract]
Investment in joint venture	$ 97,200
Total debt, gross	1,040,250	$ 1,125,250	$ 1,130,000
Fair value of outstanding debt	$ 1,040,000		$ 1,130,000

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Nov. 30, 2023 USD ($) lease	Nov. 30, 2023 USD ($) lease
Leases [Abstract]
Number of operating leases	159	159
Number of finance leases	25	25
Sublease income | $	$ 0.3	$ 0.8

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	Feb. 28, 2023
Lessee, Lease, Description [Line Items]
Right-of-use assets	$ 22,830		$ 22,830		$ 26,392
Operating lease liabilities ― short-term	$ 5,999		$ 5,999		$ 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	$ 15,732		$ 15,732		$ 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	$ 454		$ 454		$ 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	$ 1,380		$ 1,380		$ 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	$ 3,492	$ 3,800	$ 10,734	$ 10,025
Cost of sales
Lessee, Lease, Description [Line Items]
Total lease cost	2,997	3,306	9,234	8,590
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Total lease cost	$ 495	$ 494	$ 1,500	$ 1,435

Leases - Lease Details (Details

Leases - Lease Details (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	Feb. 28, 2023
Lease, Cost [Abstract]
Operating cash flows from operating leases included in lease liabilities	$ 1,811	$ 2,862	$ 5,471	$ 8,069
Lease liabilities obtained from new ROU assets - operating	60	2,396	1,942	4,938
Decrease in ROU assets related to lease terminations	0	0	(1,294)	0
Operating and financing cash flows from financing leases included in lease liabilities	130	70	330	182
Lease liabilities obtained from new ROU assets - financing	$ 173	$ 0	$ 773	$ 398
Weighted-average remaining lease term - operating leases	4 years 3 months 14 days		4 years 3 months 14 days		5 years 14 days
Weighted-average discount rate - operating leases	4.44%		4.44%		4.31%
Weighted-average remaining lease term - financing leases	4 years 3 months		4 years 3 months		4 years 7 months 9 days
Weighted-average discount rate - financing leases	5.66%		5.66%		5.15%

Leases - Lease Maturity (Detail

Leases - Lease Maturity (Details) $ in Thousands	Nov. 30, 2023 USD ($)
Operating Leases
2024	$ 1,787
2025	6,532
2026	5,583
2027	4,410
2028	2,441
2029	1,871
Thereafter	1,252
Total lease payments	23,876
Less imputed interest	(2,145)
Total	21,731
Finance Leases
2024	136
2025	536
2026	459
2027	423
2028	349
2029	138
Thereafter	24
Total lease payments	2,065
Less imputed interest	(231)
Total	1,834
2024	1,923
2025	7,068
2026	6,042
2027	4,833
2028	2,790
2029	2,009
Thereafter	1,276
Total lease payments	25,941
Less imputed interest	(2,376)
Total	$ 23,565

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Tax Disclosure [Abstract]
Income (loss) from discontinued operations before income tax		$ 1,202		$ 21,053
Income tax (benefit) expense		463		(3,927)
Income from discontinued operations, net of tax	$ 0	1,665	$ 0	17,126
Loss on disposal of discontinued operations, net of tax		(45,010)		(159,910)
Income tax benefit		4,364		29,837
Loss on disposal of discontinued operations, net of tax	$ 0	$ (40,646)	$ 0	$ (130,073)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate, continuing operations (percent)	24.60%	11.70%	22.60%	23.80%
Effective income tax rate, discontinuing operations (percent)		11%		18.70%

Equity - Series A Convertible P

Equity - Series A Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 05, 2022	Nov. 30, 2023	Feb. 28, 2023
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)		240,000	240,000
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)		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		9 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	$ 898,077	$ 859,621	$ 853,460	$ 667,365
Other comprehensive income (loss) before reclassification	2,914	(8,531)	3,160	(11,277)
Amounts reclassified from AOCI	(1,057)	27,750	(2,544)	27,750
Net change in AOCI	1,857	19,219	616	16,473
Balance, ending balance	921,150	852,513	921,150	852,513
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(9,307)	(30,070)	(7,571)	(27,324)
Other comprehensive income (loss) before reclassification	3,029	(5,019)	1,293	(7,765)
Amounts reclassified from AOCI	0	27,750	0	27,750
Net change in AOCI	3,029	22,731	1,293	19,985
Balance, ending balance	(6,278)	(7,339)	(6,278)	(7,339)
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	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	3,374	0	2,879	0
Other comprehensive income (loss) before reclassification	(115)	(3,512)	1,867	(3,512)
Amounts reclassified from AOCI	(1,057)	0	(2,544)	0
Net change in AOCI	(1,172)	(3,512)	(677)	(3,512)
Balance, ending balance	2,202	(3,512)	2,202	(3,512)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(5,814)	(30,070)	(4,573)	(27,324)
Balance, ending balance	$ (3,957)	$ (10,851)	$ (3,957)	$ (10,851)

Defined Benefit Pension Plan (D

Defined Benefit Pension Plan (Details) $ in Millions	Nov. 30, 2023 USD ($)
Precoat Metals Business Division
Business Acquisition [Line Items]
Accumulated benefit obligation in excess of plan assets	$ 31.6

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands			9 Months Ended
	Nov. 30, 2023 USD ($)	Oct. 27, 2023 USD ($)	Nov. 30, 2023 USD ($) a
Commitments and Contingencies Disclosure [Abstract]
Loss contingency accrual	$ 5,750		$ 5,750
Amount awarded to other party	4,500	$ 4,500	5,750
Decrease in accounts receivable due to forgiveness			3,700
Loss contingency, receivable, current	5,200		5,200
Appeal process duration (in years)		2 years
Environment liability	22,000		22,000
Environmental liability, current	$ 3,200		$ 3,200
Area of facility (in acres) | a			25
Percent of output under take-or-pay contract	0.75		0.75
Unrecorded purchase obligation	$ 125,800		$ 125,800
Construction timeline term			2 years
Long-term purchase commitment, amount			$ 48,400
Purchase obligation to be paid in year one	$ 71,200		71,200
Purchase obligations			$ 33,600

Subsequent Events (Details)

Subsequent Events (Details) - Revolving Credit Facility - USD ($) $ in Millions			1 Months Ended
	Dec. 20, 2023	Dec. 19, 2023	May 31, 2022	May 13, 2022
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Subsequent Event [Line Items]
Basis spread			4.25%
2022 Credit Agreement And Term Loan B
Subsequent Event [Line Items]
Maximum borrowing capacity				$ 400
Subsequent Event
Subsequent Event [Line Items]
Initial interest rate margin	0.10%
Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Subsequent Event [Line Items]
Basis spread		4.25%
Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Subsequent Event [Line Items]
Basis spread	2.75%
Subsequent Event | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Subsequent Event [Line Items]
Basis spread	3.50%
Subsequent Event | 2022 Credit Agreement And Term Loan B
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 400