AZZ (AZZ) 10-Q9 Oct 242025 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Aug. 31, 2024	Oct. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2024
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		29,876,952
Entity Central Index Key	0000008947
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--02-28

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Income Statement [Abstract]
Sales	$ 409,007	$ 398,542	$ 822,215	$ 789,415
Costs and Expenses
Cost of sales	305,493	301,296	616,031	595,150
Gross margin	103,514	97,246	206,184	194,265
Selling, general and administrative	35,868	36,239	68,789	67,762
Operating income	67,646	61,007	137,395	126,503
Interest expense	(21,909)	(27,770)	(44,683)	(56,476)
Equity in earnings of unconsolidated subsidiaries	1,478	974	5,302	2,394
Other (income) expense, net	417	88	621	50
Income from continuing operations before income taxes	47,632	34,299	98,635	72,471
Income tax expense	12,213	5,967	23,614	15,617
Net income (loss)	35,419	28,332	75,021	56,854
Dividends on preferred stock	0	(3,600)	(1,200)	(7,200)
Redemption premium on Series A Preferred Stock	0	0	(75,198)	0
Net income (loss) available to common shareholders	$ 35,419	$ 24,732	$ (1,377)	$ 49,654
Basic earnings (loss) per share
Basic earnings per common share (usd per share)	$ 1.19	$ 0.99	$ (0.05)	$ 1.99
Diluted Earnings (Loss) Per Share [Abstract]
Diluted earnings per common share (usd per share)	$ 1.18	$ 0.97	$ (0.05)	$ 1.95
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average number common shares, basic (shares)	29,852,000	25,054,000	28,294,000	24,997,000
Weighted average number common shares, diluted (shares)	30,057,000	29,210,000	28,294,000	29,196,000
Cash dividends declared per common share (usd per share)	$ 0.17	$ 0.17	$ 0.34	$ 0.34

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss) available to common shareholders		$ 35,419	$ 24,732	$ (1,377)	$ 49,654
Other Comprehensive Income (Loss):
Unrealized translation gain		864	18	439	38
Unrealized translation gain for unconsolidated subsidiary, net of tax	[1]	(531)	(2,885)	(531)	(1,774)
Unrealized gain (loss) on interest rate swap, net of tax	[2]	(3,062)	5,254	(842)	1,869
Amounts reclassified from accumulated other comprehensive income to earnings, net of tax	[3]	(1,113)	(939)	(2,214)	(1,487)
Unrealized gain (loss) on interest rate swap, net of tax for unconsolidated subsidiary	[4]	6	278	147	113
Other comprehensive income (loss)		(3,836)	1,726	(3,001)	(1,241)
Comprehensive income (loss)		$ 31,583	$ 26,458	$ (4,378)	$ 48,413

[1] (1) Unrealized translation loss for unconsolidated subsidiary is related to our unconsolidated investment in the AVAIL JV and represents our 40% interest in this amount. Net of tax benefit of $(210) for both the three and six months ended August 31, 2024 and $0 for both the three and six months ended August 31, 2023. (2) Net of tax expense (benefit) of ($967) and $1,908 for the three months ended August 31,2024 and 2023, respectively. Net of tax expense (benefit) of ($342) and $679 for the six months ended August 31, 2024 and 2023, respectively. (3) Net of tax benefit of ($351) and ($341) for the three months ended August 31,2024 and 2023, respectively. Net of tax benefit of $(699) and $(540) for the six months ended August 31, 2024 and 2023, respectively. See Note 8. (4) Unrealized gain (loss) on interest rate swap, net of tax for unconsolidated subsidiary is related to our unconsolidated investment in the AVAIL JV and represents our 40% interest in this amount. Net of tax expense of $2 and $101 for the three months ended August 31,2024 and 2023, respectively. Net of tax expense of $46 and $41 for the six months ended August 31, 2024 and 2023, respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Unrealized gain (loss) on interest rate swap, tax	$ (967)	$ 1,908	$ (342)	$ 679
Amounts reclassified from accumulated other comprehensive income to earnings, tax	(351)	(341)	(699)	(540)
Interest rate swap, unconsolidated subsidiary, tax	$ 2	$ 101	$ 46	$ 41
AIS Joint Venture
Ownership percentage of investment	40%		40%
Foreign currency translation adjustments, tax	$ (210)		$ (210)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024
Current assets:
Cash and cash equivalents	$ 2,152	$ 4,349
Trade accounts receivable, net of allowance for credit losses of $(2,128) and $(2,347) at August 31, 2024 and February 29, 2024, respectively	153,108	142,246
Other receivables	22,804	15,599
Inventories	115,249	117,656
Contract assets	93,983	79,335
Prepaid expenses and other	13,860	7,814
Total current assets	401,156	366,999
Property, plant and equipment, net	569,732	541,652
Right-of-use assets	22,053	23,739
Goodwill	705,724	705,468
Deferred tax assets	5,616	5,606
Intangible assets, net	433,929	445,435
Other assets	4,352	8,437
Total assets	2,240,330	2,195,505
Current liabilities:
Accounts payable	108,699	88,001
Income tax payable	1,919	172
Accrued salaries and wages	24,947	30,823
Other accrued liabilities	74,991	68,651
Lease liability, short-term	6,574	6,659
Total current liabilities	217,130	194,306
Long-term debt, net	912,572	952,742
Lease liability, long-term	16,263	17,827
Deferred tax liabilities	42,261	38,567
Other long-term liabilities	52,348	57,572
Total liabilities	1,240,574	1,261,014
Commitments and contingencies (Note 22)
Mezzanine equity:
Series A Convertible Preferred Stock, $1,000 par, shares authorized 100,000; 240 shares issued and outstanding February 29, 2024; aggregate liquidation preference $312,520 at February 29, 2024	0	233,722
Shareholders' Equity:
Common stock, $1 par value; 100,000 shares authorized; 29,877 and 25,102 shares issued and outstanding at August 31, 2024 and August 31, 2023, respectively	29,877	25,102
Capital in excess of par value	411,263	103,330
Retained earnings	565,511	576,231
Accumulated other comprehensive loss	(6,895)	(3,894)
Total shareholders’ equity	999,756	700,769
Total liabilities, mezzanine equity and shareholders' equity	2,240,330	2,195,505
AIS Joint Venture
Current assets:
Investment in joint venture	$ 97,768	$ 98,169

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ (2,128)	$ (2,347)
Preferred stock, par value (in dollars per share)		$ 1,000
Preferred stock, shares authorized (in shares)		100,000,000
Preferred stock, shares issued (in shares)		240,000
Preferred stock, shares outstanding (in shares)		240,000
Liquidation preference		$ 312,520
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)	29,877,000	25,102,000
Common stock, shares, outstanding (shares)	29,877,000	25,102,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Cash Flows From Operating Activities:
Net income (loss) available to common shareholders	$ (1,377)	$ 49,654
Dividends on preferred stock	1,200	7,200
Plus: Redemption premium on Series A Preferred Stock	75,198	0
Net income from continuing operations	75,021	56,854
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	1	79
Depreciation and amortization	40,750	38,677
Deferred income taxes	4,881	(2,656)
Equity in earnings of unconsolidated entities	(5,302)	(2,394)
Distribution on investment in AVAIL joint venture	5,155	0
Net gain on sale of property, plant and equipment	(487)	(13)
Amortization of debt financing costs	6,219	6,062
Share-based compensation expense	7,448	4,019
Changes in current assets and current liabilities	(8,493)	21,385
Changes in other long-term assets and long-term liabilities	(5,763)	(3,672)
Net cash provided by operating activities	119,430	118,341
Cash flows from investing activities
Purchase of property, plant and equipment	(59,501)	(42,726)
Other investing activities	761	20
Net cash used in investing activities	(58,740)	(42,706)
Cash flows from financing activities:
Proceeds from issuance of common stock	310,237	1,464
Redemption of Series A Preferred Stock	(308,920)	0
Tax payments related to net share settlement of equity awards	(4,977)	(791)
Proceeds from Revolving Credit Facility	193,000	142,000
Payments on Revolving Credit Facility	(148,000)	(202,000)
Payments of debt financing costs	(715)	(1,203)
Payments on long term debt and finance lease liabilities	(90,432)	(162)
Payments of dividends	(12,943)	(15,688)
Net cash used in financing activities	(62,750)	(76,380)
Effect of exchange rate changes on cash	(137)	33
Net decrease in cash and cash equivalents	(2,197)	(712)
Cash and cash equivalents at beginning of period	4,349	2,820
Cash and cash equivalents at end of period	$ 2,152	$ 2,108

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance, beginning balance (shares) at Feb. 28, 2023		24,912
Balance, beginning balance at Feb. 28, 2023	$ 619,738	$ 24,912	$ 93,357	$ 506,042	$ (4,573)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	4,019		4,019
Common stock issued under stock-based plans and related income tax expense (shares)		123
Common stock issued under stock-based plans and related tax expense	(791)	$ 123	(914)
Common stock issued under employee stock purchase plan (shares)		42
Common stock issued under employee stock purchase plan	1,464	$ 42	1,422
Dividends on Series A Preferred Stock	(7,200)			(7,200)
Cash dividends paid on common shares	(8,488)			(8,488)
Redemption premium on Series A Preferred Stock	0
Net income (loss) available to common shareholders	56,854			56,854
Other comprehensive loss	(1,241)				(1,241)
Balance, ending balance (shares) at Aug. 31, 2023		25,077
Balance, ending balance at Aug. 31, 2023	664,355	$ 25,077	97,884	547,208	(5,814)
Balance, beginning balance (shares) at May. 31, 2023		25,013
Balance, beginning balance at May. 31, 2023	637,651	$ 25,013	93,449	526,729	(7,540)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	2,115		2,115
Common stock issued under stock-based plans and related income tax expense (shares)		22
Common stock issued under stock-based plans and related tax expense	920	$ 22	898
Common stock issued under employee stock purchase plan (shares)		42
Common stock issued under employee stock purchase plan	1,464	$ 42	1,422
Dividends on Series A Preferred Stock	(3,600)			(3,600)
Cash dividends paid on common shares	(4,253)			(4,253)
Redemption premium on Series A Preferred Stock	0
Net income (loss) available to common shareholders	28,332			28,332
Other comprehensive loss	1,726				1,726
Balance, ending balance (shares) at Aug. 31, 2023		25,077
Balance, ending balance at Aug. 31, 2023	664,355	$ 25,077	97,884	547,208	(5,814)
Balance, beginning balance (shares) at Feb. 29, 2024		25,102
Balance, beginning balance at Feb. 29, 2024	700,769	$ 25,102	103,330	576,231	(3,894)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	7,438		7,438
Common stock issued under stock-based plans and related income tax expense (shares)		132
Common stock issued under stock-based plans and related tax expense	(4,967)	$ 132	(5,099)
Common stock issued under employee stock purchase plan (shares)		43
Common stock issued under employee stock purchase plan	1,569	$ 43	1,526
Secondary public offering and issuance of additional common stock (in shares)		4,600
Secondary public offering and issuance of additional common stock	308,668	$ 4,600	304,068
Dividends on Series A Preferred Stock	(1,200)			(1,200)
Cash dividends paid on common shares	(9,343)			(9,343)
Redemption premium on Series A Preferred Stock	(75,198)			(75,198)
Net income (loss) available to common shareholders	75,021			75,021
Other comprehensive loss	(3,001)				(3,001)
Balance, ending balance (shares) at Aug. 31, 2024		29,877
Balance, ending balance at Aug. 31, 2024	999,756	$ 29,877	411,263	565,511	(6,895)
Balance, beginning balance (shares) at May. 31, 2024		29,814
Balance, beginning balance at May. 31, 2024	967,232	$ 29,814	405,309	535,168	(3,059)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	4,903		4,903
Common stock issued under stock-based plans and related income tax expense (shares)		20
Common stock issued under stock-based plans and related tax expense	(400)	$ 20	(420)
Common stock issued under employee stock purchase plan (shares)		43
Common stock issued under employee stock purchase plan	1,569	$ 43	1,526
Secondary public offering and issuance of additional common stock (in shares)		0
Secondary public offering and issuance of additional common stock	(55)	$ 0	(55)
Cash dividends paid on common shares	(5,076)			(5,076)
Redemption premium on Series A Preferred Stock	0
Net income (loss) available to common shareholders	35,419			35,419
Other comprehensive loss	(3,836)				(3,836)
Balance, ending balance (shares) at Aug. 31, 2024		29,877
Balance, ending balance at Aug. 31, 2024	$ 999,756	$ 29,877	$ 411,263	$ 565,511	$ (6,895)

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
The Company and Basis of Presentation	Aug. 31, 2024
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. Our 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 industry 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 represents our 40% non-controlling interest in AIS Investment Holdings LLC (the "AVAIL JV"). AIS Investment Holdings LLC is primarily 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. Presentation The accompanying condensed consolidated balance sheet as of February 29, 2024 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 29, 2024, included in our Annual Report on Form 10-K covering such period which was filed with the Securities and Exchange Commission ("SEC") on April 22, 2024. Certain previously reported amounts have been reclassified to conform to current period presentation. Our 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 28, 2025 is referred to as fiscal 2025. 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 August 31, 2024, the results of its operations and cash flows for the three and six months ended August 31, 2024 and 2023. The interim results reported herein are not necessarily indicative of results for a full year. Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), 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 expect to adopt ASU 2023-09 for the annual period ending February 28, 2025 and the adoption will not affect our financial position or our results of operations, but will result in additional disclosures. 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 do not expect the adoption of ASU 2023-07 to affect our financial position or our results of operations, but will result in additional disclosures for our annual reporting period ending February 28, 2025 and interim reporting periods in fiscal 2026.

Inventories

Inventories	6 Months Ended
Inventories	Aug. 31, 2024
Inventory Disclosure [Abstract]
Inventories	2. Inventories The following table summarizes the components of inventory (in thousands): As of August 31, 2024 February 29, 2024 Raw material $ 111,728 $ 111,674 Work in process 552 898 Finished goods 2,969 5,084 Total inventories $ 115,249 $ 117,656 Our inventory reserves were $3.5 million and $4.5 million as of August 31, 2024 and February 29, 2024, respectively. Inventory cost is determined principally using the first-in-first-out (FIFO) method for the AZZ Metal Coatings segment and the specific identification method for the Precoat Metals segment.

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Aug. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	3. 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. On April 30, 2024, we completed a secondary public offering in which we issued 4.6 million common shares. The weighted average number of shares for the period outstanding for the six months ended August 31, 2024 are included in weighted average shares outstanding for basic earnings per share. See Note 14. As of August 31, 2024, there were 29.9 million common shares outstanding, which includes the shares from the secondary public offering. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Numerator: Net income $ 35,419 $ 28,332 $ 75,021 $ 56,854 Series A Preferred Stock Dividends — (3,600) (1,200) (7,200) Redemption premium on Series A Preferred Stock — — (75,198) — Numerator for basic earnings per share $ 35,419 $ 24,732 $ (1,377) $ 49,654 Series A Preferred Stock Dividends — 3,600 — 7,200 Numerator for diluted earnings per share $ 35,419 $ 28,332 $ (1,377) $ 56,854 Denominator: Weighted average shares outstanding for basic earnings per share 29,852 25,054 28,294 24,997 Effect of dilutive securities: Employee and director stock awards 205 39 — 82 Series A Preferred Stock — 4,117 — 4,117 Denominator for diluted earnings per share 30,057 29,210 28,294 29,196 Basic earnings (loss) per common share $ 1.19 $ 0.99 $ (0.05) $ 1.99 Diluted earnings (loss) per common share $ 1.18 $ 0.97 $ (0.05) $ 1.95

Disaggregated Sales

Disaggregated Sales	6 Months Ended
Disaggregated Sales	Aug. 31, 2024
Revenues [Abstract]
Disaggregated Sales	4. Disaggregated Sales The following table presents disaggregated sales by customer industry (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Sales: Construction $ 233,196 $ 216,807 $ 461,691 $ 422,337 Industrial 36,691 42,245 76,767 82,889 Transportation 36,550 35,869 74,913 72,626 Consumer 31,408 34,673 65,169 70,258 Utilities 30,731 25,905 59,346 51,312 Other (1) 40,431 43,043 84,329 89,993 Total Sales $ 409,007 $ 398,542 $ 822,215 $ 789,415 (1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling. See also Note 6 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, we can receive advances from our 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. The increases or decreases in contract assets and contract liabilities during the six months ended August 31, 2024 were primarily due to normal timing differences between AZZ's performance and customer payments. As of August 31, 2024 and February 29, 2024, the balance for contract assets was $94.0 million and $79.3 million, respectively, primarily related to the AZZ Precoat Metals segment. The increase was primarily due to the timing differences noted above, as well as the increase in the volume of coil coated for the six months ended August 31, 2024. Contract liabilities of $0.7 million and $1.0 million as of August 31, 2024 and February 29, 2024, respectively, are included in "Other accrued liabilities" in the consolidated balance sheets. As of August 31, 2023 and February 28, 2023, the balance for contract assets was $76.8 million and $79.3 million, respectively, primarily related to the AZZ Precoat Metals segment. Contract liabilities were $1.1 million and $1.3 million as of August 31, 2023 and February 28, 2023, respectively.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
Supplemental Cash Flow Information	Aug. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	5. Supplemental Cash Flow Information To arrive at net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in thousands): Six Months Ended August 31, 2024 2023 Decrease (increase) in current assets: Accounts receivable, net $ (10,813) $ (13,711) Other receivables (7,186) 13,101 Inventories 2,454 7,460 Contract assets (14,648) 57 Prepaid expenses and other (6,041) (2,544) Increase (decrease) in current liabilities: Accounts payable 23,269 15,037 Income taxes payable 1,747 (226) Accrued expenses 2,725 2,211 Changes in current assets and current liabilities $ (8,493) $ 21,385 Cash flows related to interest and income taxes were as follows (in thousands): Six Months Ended August 31, 2024 2023 Cash paid for interest $ 41,227 $ 51,539 Cash paid for income taxes 13,703 12,930 Supplemental disclosures of non-cash investing and financing activities were as follows (in thousands): Six Months Ended August 31, 2024 2023 Accrued dividends on Series A Preferred Stock $ — $ 2,400 Accruals for capital expenditures 5,379 5,579

Operating Segments

Operating Segments	6 Months Ended
Operating Segments	Aug. 31, 2024
Segment Reporting [Abstract]
Operating Segments	6. Operating Segments Segment Information Our 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. A summary of each of our 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 industry and other industries through facilities located throughout North America. Hot-dip galvanizing is a metallurgical manufacturing process in which molten zinc reacts with steel, which provides corrosion protection and extends the lifecycle of fabricated steel for several decades. AZZ Precoat Metals — provides coil coating application of protective and decorative coatings and related value-added downstream processing for steel and aluminum coils. Primarily serving the construction, appliance, heating, ventilation, and air conditioning (HVAC), container, transportation, and other end markets, the coil coating process emphasizes sustainability and enhanced product lifecycles. It involves cleaning, treating, painting, and curing metal coils as a flat material before they are cut, formed, and fabricated into finished products. This highly efficient method optimizes waste through tight film control and improves final product performance by painting and curing the substrates under conditions unmatched by other application processes. AZZ Infrastructure Solutions — consists of the equity in earnings of our 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 is a global provider of application-critical equipment, highly engineered technologies, and specialized services to the power generation, transmission, distribution, oil and gas, and industrial markets. The following tables contain operating segment data for the three and six months ended August 31, 2024 and 2023 by segment, for the Company's corporate operations and on a consolidated basis (in thousands): Three Months Ended August 31, 2024 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2) Total Sales $ 171,500 $ 237,507 $ — $ — $ 409,007 Cost of sales 118,193 187,300 — — 305,493 Gross margin 53,307 50,207 — — 103,514 Selling, general and administrative 5,619 7,677 9 22,563 35,868 Operating income (loss) 47,688 42,530 (9) (22,563) 67,646 Interest expense — — — (21,909) (21,909) Equity in earnings of unconsolidated subsidiaries — — 1,478 — 1,478 Other (expense) income (7) — — 424 417 Income (loss) before income tax $ 47,681 $ 42,530 $ 1,469 (44,048) 47,632 Income tax expense 12,213 12,213 Net income (loss) $ (56,261) $ 35,419 See notes below tables. Six Months Ended August 31, 2024 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2) Total Sales $ 348,152 $ 474,063 $ — $ — $ 822,215 Cost of sales 240,929 375,102 — — 616,031 Gross margin 107,223 98,961 — — 206,184 Selling, general and administrative 11,602 16,338 38 40,811 68,789 Operating income (loss) 95,621 82,623 (38) (40,811) 137,395 Interest expense — — — (44,683) (44,683) Equity in earnings of unconsolidated subsidiaries — — 5,302 — 5,302 Other income 49 — — 572 621 Income (loss) before income tax $ 95,670 $ 82,623 $ 5,264 (84,922) 98,635 Income tax expense 23,614 23,614 Net income (loss) $ (108,536) $ 75,021 See notes below tables. Three Months Ended August 31, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2) Total Sales $ 169,837 $ 228,705 $ — $ — $ 398,542 Cost of sales 119,471 181,825 — — 301,296 Gross margin 50,366 46,880 — — 97,246 Selling, general and administrative 5,285 7,874 5,932 17,148 36,239 Operating income (loss) 45,081 39,006 (5,932) (17,148) 61,007 Interest expense — — — (27,770) (27,770) Equity in earnings of unconsolidated subsidiaries — — 974 — 974 Other income 13 — — 75 88 Income (loss) before income tax $ 45,094 $ 39,006 $ (4,958) (44,843) 34,299 Income tax expense 5,967 5,967 Net income (loss) $ (50,810) $ 28,332 See notes below tables. Six Months Ended August 31, 2023 Metal Coatings Precoat Metals (4) Infrastructure Solutions (1) Corporate (2) Total Sales $ 338,631 $ 450,784 $ — $ — $ 789,415 Cost of sales 237,328 357,822 — — 595,150 Gross margin 101,303 92,962 — — 194,265 Selling, general and administrative 10,751 16,266 5,954 34,791 67,762 Operating income (loss) 90,552 76,696 (5,954) (34,791) 126,503 Interest expense — — — (56,476) (56,476) Equity in earnings of unconsolidated subsidiaries — — 2,394 — 2,394 Other income (expense) (11) — — 61 50 Income (loss) before income tax $ 90,541 $ 76,696 $ (3,560) (91,206) 72,471 Income tax expense 15,617 15,617 Net income (loss) $ (106,823) $ 56,854 (1) Infrastructure Solutions segment includes the equity in earnings from our investment in the AVAIL JV as well as other expenses related to receivables and liabilities that were retained 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. Asset balances by operating segment for each period were as follows (in thousands): As of August 31, 2024 February 29, 2024 Assets: Metal Coatings $ 550,394 $ 553,505 Precoat Metals 1,557,895 1,500,122 Infrastructure Solutions - Investment in Joint Venture 97,768 98,169 Corporate 34,273 43,709 Total assets $ 2,240,330 $ 2,195,505 Financial Information About Geographical Areas Financial information about geographical areas for the periods presented was as follows (in thousands). The geographic area is based on the location of the operating facility and no customer accounted for 10 percent or more of consolidated sales. Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Sales: United States $ 398,658 $ 388,538 $ 801,709 $ 769,860 Canada 10,349 10,004 20,506 19,555 Total $ 409,007 $ 398,542 $ 822,215 $ 789,415 As of August 31, 2024 February 29, 2024 Property, plant and equipment, net: United States $ 550,761 $ 522,693 Canada 18,971 18,959 Total $ 569,732 $ 541,652

Investments in Unconsolidated E

Investments in Unconsolidated Entity	6 Months Ended
Investments in Unconsolidated Entity	Aug. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entity	7. Investments in Unconsolidated Entity AVAIL JV We account for our 40% interest in the AVAIL JV under the equity method of accounting and include our equity in earnings as part of the AZZ Infrastructure Solutions segment. We record our equity in earnings in the AVAIL JV on a one-month lag, and we recorded $5.3 million in equity in earnings for the six months ended August 31, 2024. As of August 31, 2024, our investment in the AVAIL JV was $97.8 million, which includes an excess of $10.2 million over the underlying value of the net assets of the AVAIL JV. The excess is accounted for as equity method goodwill. Summarized Balance Sheet As of August 31, 2024 (1) Current assets $ 281,937 Long-term assets 177,926 Total assets $ 459,863 Current liabilities 139,333 Long-term liabilities 124,359 Total liabilities $ 263,692 Total partners' capital 196,171 Total liabilities and partners' capital $ 459,863 Summarized Operating Data Three Months Ended Six Months Ended August 31, 2024 (1) August 31, 2024 (1) Sales $ 119,584 $ 249,300 Gross profit 27,569 59,086 Net income 2,780 10,955 (1) We report our equity in earnings on a one-month lag basis; therefore, amounts in the summarized financials above are as of and for the three and six months ended July 31, 2024. Amounts in the table above exclude certain adjustments made by us to record equity in earnings of the AVAIL JV under U.S GAAP for public companies, primarily to reverse the amortization of goodwill.

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	8. Derivative Instruments Interest Rate Swap Derivative As a policy, we do not hold, issue or trade derivative instruments for speculative purposes. We periodically enter into forward sale contracts to purchase a specified volume of zinc and natural gas 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 Accounting Standards Codification ("ASC") 815, Derivatives and Hedging . We manage our exposure to fluctuations in interest rates on our floating-rate debt by entering into interest rate swap agreements to convert a portion of our variable-rate debt to a fixed rate. On September 27, 2022, we entered into a fixed-rate interest rate swap agreement, which was subsequently amended on October 7, 2022 (the "2022 Swap"), with banks that are parties to the 2022 Credit Agreement, to change the SOFR-based component of the interest rate. The 2022 Swap converts the SOFR portion to 4.277%. On March 20, 2024, we repriced our Term Loan B to SOFR plus 3.25%, resulting in a total fixed rate of 7.527% . See Note 17 for information related to the repricing of the Company's Term Loan B on September 24, 2024. Th e 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 $539.0 million as of August 31, 2024. 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 a portion 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 2022 Swap exactly offset changes in cash flows of the variable-rate debt. We designated the 2022 Swap as a cash flow hedge at inception. Cash payments or receipts to settle the 2022 Swap are recognized in interest expense. At August 31, 2024, 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 six months ended August 31, 2024, we reclassified $2.9 million before income tax, or $2.2 million net of tax, from other comprehensive income to earnings.

Debt

Debt	6 Months Ended
Debt	Aug. 31, 2024
Debt Disclosure [Abstract]
Debt	9. Debt Our long-term debt instruments and balances outstanding for each of the periods presented (in thousands): As of August 31, 2024 February 29, 2024 Revolving Credit Facility $ 75,000 $ 30,000 Term Loan B 890,250 980,250 Total debt, gross 965,250 1,010,250 Unamortized debt issuance costs (52,678) (57,508) Long-term debt, net $ 912,572 $ 952,742 2022 Credit Agreement and Term Loan B We have a credit agreement with a syndicate of financial institutions that was entered into on May 13, 2022, and was subsequently amended on August 17, 2023, December 20, 2023 and March 20, 2024 (collectively referred to herein as the "2022 Credit Agreement"). See Note 17 for information related to the repricing of the Company's Term Loan B on September 24, 2024. 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; as of August 31, 2024, the outstanding balance of the Term Loan B was $890.3 million; ii. provides for a maximum senior secured Revolving Credit Facility in the aggregate principal amount of $400.0 million (the "Revolving Credit Facility"), which matures on 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 a tiered interest rate of Secured Overnight Financing Rate ("SOFR") plus 3.25% (following the repricing on March 20, 2024 as described below) and the Revolving Credit Facility bears a leverage-based rate with various tiers between 2.75% and 3.50%; as of August 31, 2024, the interest rate was SOFR plus 2.75%; 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. On March 20, 2024, we entered the term loan market and repriced our existing Term Loan B. The repricing reduced the Term Loan B spread from a rate of SOFR plus 3.75% to SOFR plus 3.25%. On September 24, 2024, we completed our third repricing of the Term Loan B, for which $890.3 million was outstanding as of August 31, 2024. The repricing reduced the margin from SOFR plus 3.25% to SOFR plus 2.50%, for a total reduction of 75 basis points. We primarily utilize proceeds from the Revolving Credit Facility to finance working capital needs, capital improvements, quarterly cash dividends, acquisitions and other general corporate purposes. As defined in the 2022 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 prepayments made against the Term Loan B since August 31, 2022, the quarterly mandatory principal payment requirement has been met, and the quarterly payments of $3.25 million are no longer required. The weighted average interest rate for our outstanding debt, including the Revolving Credit Facility and the Term Loan B, was 8.03% and 8.56% for the six months ended August 31, 2024 and 2023, respectively. Debt Compliance, Outstanding Borrowings and Letters of Credit Our 2022 Credit Agreement requires us to maintain a maximum Total Net Leverage Ratio (as defined in the loan agreement) no greater than 4.5. As of August 31, 2024, we were in compliance with all covenants and other requirements set forth in the 2022 Credit Agreement. As of August 31, 2024, we had $965.3 million of debt outstanding on the Revolving Credit Facility and the Term Loan B, with varying maturities through fiscal 2029. We had approximately $310.7 million of additional credit available as of August 31, 2024. As of August 31, 2024, we had total outstanding letters of credit in the amount of $14.3 million. These letters of credit are most commonly issued in lieu of customer retention withholding payments covering warranty, performance periods and insurance collateral. Other Disclosures Interest expense is comprised as follows (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Gross Interest expense $ 23,621 $ 28,298 $ 47,827 $ 57,260 Less: Capitalized interest (1,712) (528) (3,144) (784) Interest expense, net $ 21,909 $ 27,770 $ 44,683 $ 56,476 Capitalized interest for the three and six months ended August 31, 2024 and 2023 relates to interest cost on the construction of the greenfield aluminum coil coating facility in Washington, Missouri. The increase for the six months ended August 31, 2024 compared to the prior year period was due to the higher average construction work in process.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Aug. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. 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 Measurement ("ASC 820"), certain of our 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 our financial instruments (cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities) approximates the fair value of these instruments based upon either their short-term nature or their variable market rate of interest. We have not made an option to elect fair value accounting for any of our financial instruments. Interest Rate Swap Agreement Our derivative instrument consists of the 2022 Swap, which is considered a Level 2 of the fair value hierarchy and included in "Other long-term liabilities" in the condensed consolidated balance sheets as of August 31, 2024 and in "Other assets" as of February 29, 2024. The valuation of the 2022 Swap is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including swap rates, spread and/or index levels and interest rate curves. See Note 8 for more information about the 2022 Swap. Our financial instruments that are measured at fair value on a recurring basis as of August 31, 2024 and February 29, 2024 are as follows (dollars in thousands): Fair Value Measurements Using Fair Value Measurements Using Carrying Assets measured Carrying Assets measured August 31, 2024 Level 1 Level 2 at Net Asset Value February 29, 2024 Level 1 Level 2 at Net Asset Value Assets: Interest Rate Swap Agreement (1) $ — $ — $ — $ — $ 3,410 $ — $ 3,410 $ — Total Assets $ — $ 3,410 Liabilities: Interest Rate Swap Agreement (1) 687 — 687 — — — — — Net Pension Obligation 26,007 — — 26,007 31,148 — — 31,148 Total Liabilities $ 26,694 $ 31,148 (1) The fair value of the Company's interest rate swap agreement was an asset at February 29, 2024 and a liability at August 31, 2024. (2) The Plan was underfunded with a pension obligation of $26.0 million as of August 31, 2024, which is included in 'Other long-term liabilities' on the consolidated balance sheets. Non-recurring Fair Value Measurements Investment in Joint Venture The fair value of our investment in the unconsolidated AVAIL JV was determined using the income approach at the date on which we entered into the joint venture. 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 non-recurring fair value measurements. We assess our investment in the unconsolidated AVAIL JV for recoverability when events and circumstances are present that suggest there has been a decline in value, and if it is determined that a loss in value of the investment is other than temporary, the investment is written down to its fair value. Long-Term Debt The fair values of our long-term debt instruments are estimated based on market values for debt issued with similar characteristics or rates currently available for debt with similar terms. These valuations are Level 2 non-recurring fair value measurements. The principal amount of our outstanding debt was $965.3 million and $1,010.3 million at August 31, 2024 and February 29, 2024, respectively. The estimated fair value of our outstanding debt was $972.5 million and $1,010.3 million at August 31, 2024 and February 29, 2024, excluding unamortized debt issuance costs. The estimated fair values of our outstanding debt were determined based on the present value of future cash flows using model-derived valuations that use observable inputs such as interest rates and credit spreads.

Leases

Leases	6 Months Ended
Leases	Aug. 31, 2024
Leases [Abstract]
Leases	11. Leases We are a lessee under various leases for facilities and equipment. As of August 31, 2024, we were the lessee for 148 operating leases and 55 finance leases with terms of 12 months or more. These leases are reflected on our balance sheet in "Right-of-use assets," "Lease liability - short-term" and "Lease liability - long-term." Our leases are primarily for (i) operating facilities, (ii) vehicles and equipment used in operations, (iii) facilities used for back-office functions, (iv) equipment used for back-office functions, and (v) temporary storage. The majority of our vehicle and equipment leases 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 we recognize lease expense for these leases on a straight-line basis over the lease term. We have a significant number of short-term leases, including month-to-month agreements. Our short-term lease agreements include expenses incurred hourly, daily, monthly and for other durations of time of one year or less. Our future lease commitments as of August 31, 2024 do not reflect all of our short-term lease commitments. The following table outlines the classification of right-of-use ("ROU") asset and lease liabilities in the consolidated balance sheets as of August 31, 2024 and February 29, 2024 (in thousands): Balance Sheet Classification As of August 31, 2024 February 29, 2024 Assets Operating right-of-use assets Right-of-use assets $ 17,194 $ 19,808 Finance right-of-use assets Right-of-use assets 4,859 3,931 Liabilities Operating lease liabilities ― short-term Lease liability - short-term $ 5,579 $ 5,893 Operating lease liabilities ― long-term Lease liability - long-term 12,284 14,606 Finance lease liabilities ― short-term Lease liability - short-term 995 766 Finance lease liabilities ― long-term Lease liability - long-term 3,979 3,221 Supplemental information related to AZZ's leases was as follows (in thousands, except years and percentages): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Operating cash flows from operating leases included in lease liabilities $ 1,794 $ 1,834 $ 3,561 $ 3,654 Lease liabilities obtained from new ROU assets - operating 410 373 628 1,895 Decrease in ROU assets related to lease terminations — (1,294) — (1,302) Financing cash flows from finance leases included in lease liabilities 236 92 432 162 Operating cash flows from finance leases included in lease liabilities 83 21 151 37 Lease liabilities obtained from new ROU assets - finance leases 1,009 599 1,419 599 As of August 31, 2024 February 29, 2024 Weighted-average remaining lease term - operating leases 3.8 years 4.12 years Weighted-average discount rate - operating leases 4.62 % 4.49 % Weighted-average remaining lease term - finance leases 4.84 years 5.21 years Weighted-average discount rate - finance leases 7.08 % 6.70 % The following table outlines the classification of lease expense related to operating and finance leases in the statements of operations (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Operating lease expense: Cost of sales $ 3,026 $ 3,035 $ 6,029 $ 6,060 Selling, general and administrative 488 506 977 1,005 Total operating lease expense 3,514 3,541 $ 7,006 $ 7,065 Financing lease expense: Cost of sales 269 101 492 177 Interest expense 83 21 151 37 Total financing lease expense 352 122 643 214 Total lease expense $ 3,866 $ 3,663 $ 7,649 $ 7,279 As of August 31, 2024, maturities of our lease liabilities were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2025 $ 3,259 $ 665 $ 3,924 2026 5,912 1,263 7,175 2027 4,598 1,224 5,822 2028 2,542 1,137 3,679 2029 1,918 920 2,838 2030 462 499 961 Thereafter 796 170 966 Total lease payments $ 19,487 $ 5,878 $ 25,365 Less imputed interest (1,624) (904) (2,528) Total $ 17,863 $ 4,974 $ 22,837 We sublease 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 as a reduction to "Cost of sales." Sublease income for the three and six months ended August 31, 2024 and 2023 was as follows (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Sublease income $ 254 $ 248 $ 509 $ 488

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Aug. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The provision for income taxes reflects an effective tax rate of 25.6% for the three months ended August 31, 2024, compared to 17.4% for the three months ended August 31, 2023. The increase in the effective tax rate is primarily attributable to favorable adjustments in the prior year related to uncertain tax positions . The provision for income taxes reflects an effective tax rate of 23.9% for the six months ended August 31, 2024, compared to 21.5% for the prior year comparable period. The increase in the effective tax rate is primarily attributable to favorable adjustments in the prior year related to uncertain tax positions, partially offset by higher discrete items driven by tax deductions for stock compensation in fiscal year 2025.

Mezzanine Equity

Mezzanine Equity	6 Months Ended
Mezzanine Equity	Aug. 31, 2024
Equity [Abstract]
Mezzanine Equity	13. Mezzanine Equity Series A Convertible Preferred Stock On May 9, 2024, we fully redeemed our 240,000 shares of 6.0% Series A Convertible Preferred Stock ("Series A Preferred Stock") for $308.9 million. The payment was calculated as the face value of the Series A Preferred Stock of $240.0 million, multiplied by the Return Factor (as defined below) of 1.4, less dividends paid to date of $27.1 million. The redemption premium of $75.2 million, which was calculated as the difference between the redemption amount and the book value of $233.7 million, was recorded as a deemed dividend, and reduces net income available to common shareholders. The Series A Preferred Stock was redeemed using proceeds from the April 2024 Secondary Public Offering. See Note 14. On August 5, 2022, we exchanged our $240.0 million 6.00% convertible subordinated notes which were due June 30, 2030, for 240,000 shares of 6.0% Series A Preferred Stock, following the receipt of shareholder approval for the issuance of Series A Preferred Stock. The Series A Preferred Stock had a $1.00 par value per share, and ranked senior to the common stock of the Company, including with respect to both income and capital, but junior to our indebtedness. The Series A Preferred Stock is classified as "Mezzanine equity" in the consolidated balance sheets and, as noted above, was fully redeemed on May 9, 2024. Liquidation Preference If we undergo a change of control, bankruptcy, insolvency, liquidation or de-listing of AZZ’s common stock (a “Fundamental Change Event”), holders of Series A Preferred Stock may have elected to (i) receive the as-converted value of AZZ’s common stock at the then-current Conversion Price, (ii) require us to redeem the Series A Preferred Stock in cash for the Redemption Amount (as defined below) or (iii) retain their shares of Series A Preferred Stock if the Fundamental Change Event is a non-cash change of control. The Series A Preferred Stock had a liquidation preference, as defined by U.S. GAAP, equal to the Redemption Amount. Under U.S. GAAP, the liquidation preference is defined as the amount that would be required to be paid to the shareholders upon liquidation or dissolution of the Company. As of February 29, 2024, the holders of the shares of Series A Preferred Stock were entitled to a liquidation preference of approximately $312.5 million in the event of any liquidation, dissolution or winding up of the Company as of such year end. The Certificate of Designation for the Series A Preferred Stock defines "liquidation preference" as $1,000 per share plus any unpaid dividends, which we refer to herein as the "Series A Base Amount." Dividends The Series A Preferred Stock accumulated a 6.0% dividend per annum, or $15.00 per share per quarter. Dividends were payable in cash or in kind, by accreting and increasing the Series A Base Amount (“PIK Dividends”). Dividends were payable on the sum of (i) the aggregate liquidation preference amount of $240.0 million plus (ii) any PIK Dividends. Dividends were accrued daily and paid quarterly in arrears, on March 31, June 30, September 30 and December 31 of each year. Following the calendar quarter ending June 30, 2027, we may not elect PIK Dividends and dividends on the Series A Preferred Stock must be paid in cash. All dividends have been paid in cash through August 31, 2024. The dividend will increase annually by one percentage point, beginning with the dividend payable for the calendar quarter ending September 30, 2028. Dividends declared and paid for the six months ended August 31, 2024 and August 31, 2023 were $3.6 million and $7.2 million, respectively. Conversion Features Subject to a minimum conversion threshold of 1,000 shares of Series A Preferred Stock per conversion and customary anti-dilution and dividend adjustments, the Series A Preferred Stock was convertible by the holder at any time into shares of AZZ's common stock for $58.30 per common share (the “Conversion Price”). In addition, after May 13, 2024, we were entitled to provide holders of Series A Preferred Stock with notice of a mandatory conversion of a portion of the Series A Preferred Stock (which may not have exceeded 25% of the amount of Series A Preferred Stock issued in any single quarter) at the Conversion Price if the closing price of our common stock exceeded 185% of the Conversion Price for 20 consecutive trading days prior to the date of such notice and so long as the shelf registration statement filed November 4, 2022 to cover resales of the converted common stock remained effective and available for use. Participation Rights Holders of Series A Preferred Stock participated equally and ratably with the holders of AZZ's common stock in any dividends paid on AZZ’s common stock in excess of our current $0.17 quarterly dividend when, as and if declared by the Board as if such shares of Series A Preferred Stock had been converted to shares of common stock immediately prior to the record date for the payment of such dividend. Redemption Features AZZ had the right to redeem the Series A Preferred Stock at a price equal to the greater of (i) the Series A Base Amount plus accrued but unpaid dividends; (ii) the initial Series A Base Amount (excluding any prior PIK dividends) multiplied by the Return Factor less all dividends paid through the redemption date; or (iii) the amount the holder of such share of convertible preferred stock would have received had such holder, immediately prior to such redemption date, converted such shares of convertible preferred stock into common shares (such greater amount, the “Redemption Amount”). The redemption price under option (ii) contains a "Return Factor," which was equal to 1.4 until May 13, 2024 and, (a) in each of the three years thereafter, would have increased by 0.15, (b) would have increased by an additional 0.15 after May 13, 2024 (the second anniversary of the issuance date of the Series A Preferred Stock) if (i) our ratio of net debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”) (as defined in the 2022 Credit Agreement) on the second anniversary of the issuance date of the Series A Preferred Stock was greater than 3.5-to-1 and (ii) prior to May 13, 2024,we had not consummated dispositions of assets that, in the aggregate, resulted in proceeds in excess of $200.0 million and (c) would have increased by an additional 0.20 on May 13, 2028, (the sixth anniversary of the issuance date of the Series A Preferred Stock) and each anniversary thereafter. The redemption price under option (iii) was subject to provisions of the Certificate of Designation that limited our right to redeem to the period following the two year anniversary of the initial issuance, limited the quarterly conversion to up to 25% of the number of shares of convertible preferred stock outstanding, and required our market price per share of common stock to exceed 185% of the conversion price. As of February 29, 2024, the Redemption Amount for the Series A Preferred stock was $312.5 million. Voting Rights Holders of Series A Preferred Stock were entitled to a number of votes on all matters presented to holders of voting capital stock of AZZ equal to the number of shares of the AZZ’s common stock then issuable upon conversion of such holders’ Series A Preferred Stock. The vote or consent of the holders of at least a majority of the outstanding shares of Series A Preferred Stock would have been required for certain actions, including: a. issuances by AZZ of equity securities that are senior to, or equal in priority with, the Series A Preferred Stock, including any additional shares of Series A Preferred Stock; b. incurrence of any additional indebtedness (including refinancings of existing indebtedness) by the Company unless our ratio of net debt to EBITDA (as defined in the 2022 Credit Agreement) does not exceed 5.5x; c. refinancings of the 2022 Credit Agreement, subject to certain exceptions; d. dividends or distributions upon, or redemptions of, shares of AZZ’s common stock unless our ratio of net debt to EBITDA (as defined in the 2022 Credit Agreement) does not exceed 5.5x; e. any acquisition, investment, sale, disposition or similar transaction (whether of an entity, business, equity interests or assets) that has total consideration (including assumption of liabilities) of at least $250.0 million (or, when our market capitalization is $2.0 billion or greater, has total consideration (including assumption of liabilities) of at least $500.0 million); f. amendments to our organizational documents that would have an adverse effect on the holders of Series A Preferred Stock; g. any affiliate transaction except those on arms’-length terms; and h. any voluntary dissolution, liquidation, bankruptcy, winding up or deregistration or delisting of AZZ’s common stock. The holders of Series A Preferred Stock also had customary information and preemptive rights, and the Series A Preferred Stock was subject to customary anti-dilution provisions. The Series A Preferred Stock, and all shares of common stock issuable upon conversion of the Series A Preferred Stock, had customary demand and piggyback registration rights pursuant to the registration rights agreement, which was entered into on May 13, 2022 with BTO Pegasus Holdings DE L.P., a Delaware limited partnership (together with its assignees, “Blackstone”). Holders of Series A Preferred Stock were prohibited from transferring shares of Series A Preferred Stock to any competitor of AZZ or activist investors, subject to certain exceptions. 14. Equity April 2024 Secondary Public Offering On April 30, 2024, we completed a secondary public offering in which we sold 4.6 million shares of our common stock at $70.00 per share (the "April 2024 Secondary Public Offering"). We received gross proceeds of $322.0 million, and paid offering expenses of $13.3 million, for net proceeds of $308.7 million. The proceeds from the April 2024 Offering were used to redeem the Series A Preferred Stock. See Note 13. Accumulated Other Comprehensive Income The components of accumulated other comprehensive income (loss) ("AOCI"), after tax, for the three and six months ended August 31, 2024 and 2023 consisted of the following (in thousands): Three Months Ended August 31, 2024 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (8,053) $ 1,418 $ (184) $ 3,652 $ 108 $ (3,059) Other comprehensive income before reclassification 864 (531) — (3,062) 6 (2,723) Amounts reclassified from AOCI — — — (1,113) — (1,113) Net change in AOCI 864 (531) — (4,175) 6 (3,836) Balance as of end of period $ (7,189) $ 887 $ (184) $ (523) $ 114 $ (6,895) Six Months Ended August 31, 2024 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,628) $ 1,418 $ (184) $ 2,533 $ (33) $ (3,894) Other comprehensive income before reclassification 439 (531) — (842) 147 (787) Amounts reclassified from AOCI — — — (2,214) — (2,214) Net change in AOCI 439 (531) — (3,056) 147 (3,001) Balance as of end of period $ (7,189) $ 887 $ (184) $ (523) $ 114 $ (6,895) Three Months Ended August 31, 2023 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,552) $ 1,112 $ 119 $ (1,054) $ (165) $ (7,540) Other comprehensive income before reclassification 18 (2,885) — 5,254 278 2,665 Amounts reclassified from AOCI — — — (939) — (939) Net change in AOCI 18 (2,885) — 4,315 278 1,726 Balance as of end of period $ (7,534) $ (1,773) $ 119 $ 3,261 $ 113 $ (5,814) Six Months Ended August 31, 2023 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,571) $ — $ 119 $ 2,879 $ — $ (4,573) Other comprehensive income before reclassification 37 (1,773) — 1,870 113 247 Amounts reclassified from AOCI — — — (1,488) — (1,488) Net change in AOCI 37 (1,773) — 382 113 (1,241) Balance as of end of period $ (7,534) $ (1,773) $ 119 $ 3,261 $ 113 $ (5,814)

Equity

Equity	6 Months Ended
Equity	Aug. 31, 2024
Equity [Abstract]
Equity	13. Mezzanine Equity Series A Convertible Preferred Stock On May 9, 2024, we fully redeemed our 240,000 shares of 6.0% Series A Convertible Preferred Stock ("Series A Preferred Stock") for $308.9 million. The payment was calculated as the face value of the Series A Preferred Stock of $240.0 million, multiplied by the Return Factor (as defined below) of 1.4, less dividends paid to date of $27.1 million. The redemption premium of $75.2 million, which was calculated as the difference between the redemption amount and the book value of $233.7 million, was recorded as a deemed dividend, and reduces net income available to common shareholders. The Series A Preferred Stock was redeemed using proceeds from the April 2024 Secondary Public Offering. See Note 14. On August 5, 2022, we exchanged our $240.0 million 6.00% convertible subordinated notes which were due June 30, 2030, for 240,000 shares of 6.0% Series A Preferred Stock, following the receipt of shareholder approval for the issuance of Series A Preferred Stock. The Series A Preferred Stock had a $1.00 par value per share, and ranked senior to the common stock of the Company, including with respect to both income and capital, but junior to our indebtedness. The Series A Preferred Stock is classified as "Mezzanine equity" in the consolidated balance sheets and, as noted above, was fully redeemed on May 9, 2024. Liquidation Preference If we undergo a change of control, bankruptcy, insolvency, liquidation or de-listing of AZZ’s common stock (a “Fundamental Change Event”), holders of Series A Preferred Stock may have elected to (i) receive the as-converted value of AZZ’s common stock at the then-current Conversion Price, (ii) require us to redeem the Series A Preferred Stock in cash for the Redemption Amount (as defined below) or (iii) retain their shares of Series A Preferred Stock if the Fundamental Change Event is a non-cash change of control. The Series A Preferred Stock had a liquidation preference, as defined by U.S. GAAP, equal to the Redemption Amount. Under U.S. GAAP, the liquidation preference is defined as the amount that would be required to be paid to the shareholders upon liquidation or dissolution of the Company. As of February 29, 2024, the holders of the shares of Series A Preferred Stock were entitled to a liquidation preference of approximately $312.5 million in the event of any liquidation, dissolution or winding up of the Company as of such year end. The Certificate of Designation for the Series A Preferred Stock defines "liquidation preference" as $1,000 per share plus any unpaid dividends, which we refer to herein as the "Series A Base Amount." Dividends The Series A Preferred Stock accumulated a 6.0% dividend per annum, or $15.00 per share per quarter. Dividends were payable in cash or in kind, by accreting and increasing the Series A Base Amount (“PIK Dividends”). Dividends were payable on the sum of (i) the aggregate liquidation preference amount of $240.0 million plus (ii) any PIK Dividends. Dividends were accrued daily and paid quarterly in arrears, on March 31, June 30, September 30 and December 31 of each year. Following the calendar quarter ending June 30, 2027, we may not elect PIK Dividends and dividends on the Series A Preferred Stock must be paid in cash. All dividends have been paid in cash through August 31, 2024. The dividend will increase annually by one percentage point, beginning with the dividend payable for the calendar quarter ending September 30, 2028. Dividends declared and paid for the six months ended August 31, 2024 and August 31, 2023 were $3.6 million and $7.2 million, respectively. Conversion Features Subject to a minimum conversion threshold of 1,000 shares of Series A Preferred Stock per conversion and customary anti-dilution and dividend adjustments, the Series A Preferred Stock was convertible by the holder at any time into shares of AZZ's common stock for $58.30 per common share (the “Conversion Price”). In addition, after May 13, 2024, we were entitled to provide holders of Series A Preferred Stock with notice of a mandatory conversion of a portion of the Series A Preferred Stock (which may not have exceeded 25% of the amount of Series A Preferred Stock issued in any single quarter) at the Conversion Price if the closing price of our common stock exceeded 185% of the Conversion Price for 20 consecutive trading days prior to the date of such notice and so long as the shelf registration statement filed November 4, 2022 to cover resales of the converted common stock remained effective and available for use. Participation Rights Holders of Series A Preferred Stock participated equally and ratably with the holders of AZZ's common stock in any dividends paid on AZZ’s common stock in excess of our current $0.17 quarterly dividend when, as and if declared by the Board as if such shares of Series A Preferred Stock had been converted to shares of common stock immediately prior to the record date for the payment of such dividend. Redemption Features AZZ had the right to redeem the Series A Preferred Stock at a price equal to the greater of (i) the Series A Base Amount plus accrued but unpaid dividends; (ii) the initial Series A Base Amount (excluding any prior PIK dividends) multiplied by the Return Factor less all dividends paid through the redemption date; or (iii) the amount the holder of such share of convertible preferred stock would have received had such holder, immediately prior to such redemption date, converted such shares of convertible preferred stock into common shares (such greater amount, the “Redemption Amount”). The redemption price under option (ii) contains a "Return Factor," which was equal to 1.4 until May 13, 2024 and, (a) in each of the three years thereafter, would have increased by 0.15, (b) would have increased by an additional 0.15 after May 13, 2024 (the second anniversary of the issuance date of the Series A Preferred Stock) if (i) our ratio of net debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”) (as defined in the 2022 Credit Agreement) on the second anniversary of the issuance date of the Series A Preferred Stock was greater than 3.5-to-1 and (ii) prior to May 13, 2024,we had not consummated dispositions of assets that, in the aggregate, resulted in proceeds in excess of $200.0 million and (c) would have increased by an additional 0.20 on May 13, 2028, (the sixth anniversary of the issuance date of the Series A Preferred Stock) and each anniversary thereafter. The redemption price under option (iii) was subject to provisions of the Certificate of Designation that limited our right to redeem to the period following the two year anniversary of the initial issuance, limited the quarterly conversion to up to 25% of the number of shares of convertible preferred stock outstanding, and required our market price per share of common stock to exceed 185% of the conversion price. As of February 29, 2024, the Redemption Amount for the Series A Preferred stock was $312.5 million. Voting Rights Holders of Series A Preferred Stock were entitled to a number of votes on all matters presented to holders of voting capital stock of AZZ equal to the number of shares of the AZZ’s common stock then issuable upon conversion of such holders’ Series A Preferred Stock. The vote or consent of the holders of at least a majority of the outstanding shares of Series A Preferred Stock would have been required for certain actions, including: a. issuances by AZZ of equity securities that are senior to, or equal in priority with, the Series A Preferred Stock, including any additional shares of Series A Preferred Stock; b. incurrence of any additional indebtedness (including refinancings of existing indebtedness) by the Company unless our ratio of net debt to EBITDA (as defined in the 2022 Credit Agreement) does not exceed 5.5x; c. refinancings of the 2022 Credit Agreement, subject to certain exceptions; d. dividends or distributions upon, or redemptions of, shares of AZZ’s common stock unless our ratio of net debt to EBITDA (as defined in the 2022 Credit Agreement) does not exceed 5.5x; e. any acquisition, investment, sale, disposition or similar transaction (whether of an entity, business, equity interests or assets) that has total consideration (including assumption of liabilities) of at least $250.0 million (or, when our market capitalization is $2.0 billion or greater, has total consideration (including assumption of liabilities) of at least $500.0 million); f. amendments to our organizational documents that would have an adverse effect on the holders of Series A Preferred Stock; g. any affiliate transaction except those on arms’-length terms; and h. any voluntary dissolution, liquidation, bankruptcy, winding up or deregistration or delisting of AZZ’s common stock. The holders of Series A Preferred Stock also had customary information and preemptive rights, and the Series A Preferred Stock was subject to customary anti-dilution provisions. The Series A Preferred Stock, and all shares of common stock issuable upon conversion of the Series A Preferred Stock, had customary demand and piggyback registration rights pursuant to the registration rights agreement, which was entered into on May 13, 2022 with BTO Pegasus Holdings DE L.P., a Delaware limited partnership (together with its assignees, “Blackstone”). Holders of Series A Preferred Stock were prohibited from transferring shares of Series A Preferred Stock to any competitor of AZZ or activist investors, subject to certain exceptions. 14. Equity April 2024 Secondary Public Offering On April 30, 2024, we completed a secondary public offering in which we sold 4.6 million shares of our common stock at $70.00 per share (the "April 2024 Secondary Public Offering"). We received gross proceeds of $322.0 million, and paid offering expenses of $13.3 million, for net proceeds of $308.7 million. The proceeds from the April 2024 Offering were used to redeem the Series A Preferred Stock. See Note 13. Accumulated Other Comprehensive Income The components of accumulated other comprehensive income (loss) ("AOCI"), after tax, for the three and six months ended August 31, 2024 and 2023 consisted of the following (in thousands): Three Months Ended August 31, 2024 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (8,053) $ 1,418 $ (184) $ 3,652 $ 108 $ (3,059) Other comprehensive income before reclassification 864 (531) — (3,062) 6 (2,723) Amounts reclassified from AOCI — — — (1,113) — (1,113) Net change in AOCI 864 (531) — (4,175) 6 (3,836) Balance as of end of period $ (7,189) $ 887 $ (184) $ (523) $ 114 $ (6,895) Six Months Ended August 31, 2024 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,628) $ 1,418 $ (184) $ 2,533 $ (33) $ (3,894) Other comprehensive income before reclassification 439 (531) — (842) 147 (787) Amounts reclassified from AOCI — — — (2,214) — (2,214) Net change in AOCI 439 (531) — (3,056) 147 (3,001) Balance as of end of period $ (7,189) $ 887 $ (184) $ (523) $ 114 $ (6,895) Three Months Ended August 31, 2023 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,552) $ 1,112 $ 119 $ (1,054) $ (165) $ (7,540) Other comprehensive income before reclassification 18 (2,885) — 5,254 278 2,665 Amounts reclassified from AOCI — — — (939) — (939) Net change in AOCI 18 (2,885) — 4,315 278 1,726 Balance as of end of period $ (7,534) $ (1,773) $ 119 $ 3,261 $ 113 $ (5,814) Six Months Ended August 31, 2023 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,571) $ — $ 119 $ 2,879 $ — $ (4,573) Other comprehensive income before reclassification 37 (1,773) — 1,870 113 247 Amounts reclassified from AOCI — — — (1,488) — (1,488) Net change in AOCI 37 (1,773) — 382 113 (1,241) Balance as of end of period $ (7,534) $ (1,773) $ 119 $ 3,261 $ 113 $ (5,814)

Defined Benefit Pension Plan

Defined Benefit Pension Plan	6 Months Ended
Defined Benefit Pension Plan	Aug. 31, 2024
Postemployment Benefits [Abstract]
Defined Benefit Pension Plan	15. Defined Benefit Pension Plan Pension and Employee Benefit Obligations In our Precoat Metals segment, certain current or past employees participate in a defined benefit pension plan (the "Plan"). Prior to the Precoat Acquisition, benefit accruals were frozen for all participants. After the freeze, participants no longer accrued benefits under the Plan, and new hires of AZZ Precoat Metals are not eligible to participate in the Plan. As of August 31, 2024, the Plan was underfunded, and we have a pension obligation of $26.0 million, which is included in "Other long-term liabilities" in the consolidated balance sheets and represents the underfunded portion of the Plan. The components of net benefit cost other than the employer service cost are included in "Selling, general and administrative" expense. The following table outlines the net benefit cost and its components (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Expected return on plan assets $ 1,711 $ 1,759 $ 3,414 $ 3,517 Interest cost (1,491) (1,488) (2,975) (2,975) Net benefit cost $ 220 $ 271 $ 439 $ 542 We paid employer contributions of $5.6 million into the Plan during the six months ended August 31, 2024. We expect to pay $2.2 million of contributions into the Plan during the remainder of fiscal 2025.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Aug. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies Legal The Company and its subsidiaries are named defendants and plaintiffs in various routine lawsuits incidental to our business. These proceedings include labor and employment claims, various commercial disputes, worker’s compensation and environmental matters, all arising in the normal course of business. As discovery progresses on all outstanding legal matters, the Company continues to evaluate opportunities to either mediate the case or settle the disputes for nuisance value or the cost of defense 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 any 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 its legal 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. 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, we filed a counter suit against STI for amounts due to AZZ 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 $5.5 million in damages for breach of contract and breach of express warranty. A final judgment amount was entered by the Court on February 14, 2024, and we are still waiting on the trial transcript from the court reporter which is not expected to be made available to the parties until December 31, 2024. We believe we have strong grounds for an appeal, and will pursue all available appellate options. The appeal process is expected to take two years. As of August 31, 2024, we have recorded a legal accrual of $5.5 million, which is included in "Other accrued liabilities" on our consolidated balance sheets, reflecting our best estimate of the probable loss. Our estimate of the probable loss may change throughout the appellate process. We have purchased a supersedeas bond to cover the final judgment amount throughout the duration of the appellate process. A litigation matter between AZZ, as Plaintiff, 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 in fiscal 2026. As of August 31, 2024, we have a receivable due from the Defendant, net of allowance, of $5.2 million, which is included in "Trade accounts receivable, net of allowance for credit losses" in the consolidated balance sheets. This receivable balance represents our best estimate of the amount we expect to collect, which may change following completion of the trial. Prior to AZZ's acquisition of Precoat Metals on May 13, 2022, Precoat Metals sold its Armorel Arkansas facility to Nucor Coatings Corporation ("Nucor") via a purchase agreement dated October 27, 2020 ("2020 Agreement"). Nucor subsequently filed a lawsuit against Precoat Metals for indemnification for breach of environmental representations and warranties made in the 2020 Agreement. In the lawsuit, Nucor asserted that it has sustained certain damages resulting from Precoat Metal’s breach of its indemnification obligations that were set forth in the 2020 Agreement. The parties attended a mediation on March 18, 2024, and although the Company believed Nucor’s case was deficient and it had very strong defenses to the allegations asserted by Nucor, management determined that it was still in the best interest of the Company to settle all matters for the estimated cost of defense in an effort to retain and fortify its current commercial relationships with Nucor, who is both a customer and supplier to the Company. The parties mutually agreed to resolve all disputed matters for $5.25 million. The $5.25 million settlement amount was included in "Other accrued liabilities" in the consolidated balance sheet as of August 31, 2024 and February 29, 2024. The settlement amount was paid by the Company to Nucor on September 9, 2024. On July 29, 2024, Gainesville Associates, LLC (“Gainesville Associates”) filed a complaint (the “Complaint”) in the Circuit Court of Prince William County, Virginia against AZZ, Atlantic Research, LLC (“ARC”), Precoat Metals Corporation, and Chromalloy Corporation (collectively “Defendants”), asserting claims for breach of contract against ARC and unjust enrichment against all Defendants. The Complaint arises out of a lease, dated January 1, 1976, between Gainesville Associates as landlord and ARC as tenant (as subsequently amended in 1982, 2012, 2013 and 2017, the “Lease”) for property in Gainesville, Virginia (the “Property”). ARC ceased using the property in 2005 after which point ARC remained in the Lease to complete its obligations on the property pursuant to a consent decree entered into between the U.S. Environmental Protection Agency (“EPA”) and ARC in 1992. ARC satisfied its obligations under the consent decree in 2018 (other than ongoing well water monitoring and testing) and terminated the Lease in 2019. In its Complaint, Gainesville Associates alleges that ARC breached certain provisions of the Lease. On September 3, 2024, Defendants removed the action to the United States District Court of the Eastern District of Virginia. On September 24, 2024, Defendants filed a motion to dismiss the Complaint in its entirety, arguing that the complaint failed to adequately allege any claim against any Defendant. Plaintiff has not yet filed its response to the Defendant’s motion to dismiss. Management disputes the merits of the allegations and will continue to pursue dismissal of the action. As of August 31, 2024, we ha ve not recognized a legal accrual on our consolidated balance sheets, as we do not currently have enough information available to generate a reliable estimate of a probable loss on this matter. As more information becomes available, we will continue to evaluate whether it is possible to disclose a range of potential losses in the future. Environmental As of August 31, 2024, t he reserve balance for our environmental liabilities was $20.4 million, of which $2.8 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 calendar year 2025 (the Company's fiscal year 2026). The new greenfield 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 $124.0 million in capital payments over the life of the project, of which $60.8 million was paid prior to fiscal 2025 and $35.6 million was paid during the six months ended August 31, 2024 . The remaining balance of $27.6 million is to occur prior to the end of fiscal 2025, of which we have capital commitments of $17.4 million. Commodity pricing As of August 31, 2024 , we had non-cancelable forward contracts to purchase approximately $37.9 million of zinc at various volumes and prices between March 2024 and December 2024. We also had non-cancelable forward contracts to purchase approximately $9.3 million of natural gas at various volumes and prices between June 2024 and August 2025. All such contracts expire by the first quarter of fiscal 2026. We had no other contracted commitments for any other commodities including steel, aluminum, copper, zinc, nickel-based alloys, natural gas, except for those entered into under the normal course of business.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Aug. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events Debt repricing On September 24, 2024, we completed our third repricing of the Term Loan B, for which $890.3 million was outstanding as of August 31, 2024 . The repricing reduced the margin from SOFR plus 3.25% to SOFR plus 2.50%, for a total reduction of 75 basis points.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 35,419	$ 28,332	$ 75,021	$ 56,854

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	6 Months Ended
The Company and Basis of Presentation (Policies)	Aug. 31, 2024
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. Our 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 industry 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 represents our 40% non-controlling interest in AIS Investment Holdings LLC (the "AVAIL JV"). AIS Investment Holdings LLC is primarily 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. Presentation The accompanying condensed consolidated balance sheet as of February 29, 2024 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 29, 2024, included in our Annual Report on Form 10-K covering such period which was filed with the Securities and Exchange Commission ("SEC") on April 22, 2024. Certain previously reported amounts have been reclassified to conform to current period presentation. Our 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 28, 2025 is referred to as fiscal 2025.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), 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 expect to adopt ASU 2023-09 for the annual period ending February 28, 2025 and the adoption will not affect our financial position or our results of operations, but will result in additional disclosures. 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 do not expect the adoption of ASU 2023-07 to affect our financial position or our results of operations, but will result in additional disclosures for our annual reporting period ending February 28, 2025 and interim reporting periods in fiscal 2026.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Aug. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table summarizes the components of inventory (in thousands): As of August 31, 2024 February 29, 2024 Raw material $ 111,728 $ 111,674 Work in process 552 898 Finished goods 2,969 5,084 Total inventories $ 115,249 $ 117,656 Our inventory reserves were $3.5 million and $4.5 million as of August 31, 2024 and February 29, 2024, respectively. Inventory cost is determined principally using the first-in-first-out (FIFO) method for the AZZ Metal Coatings segment and the specific identification method for the Precoat Metals segment.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Aug. 31, 2024
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Numerator: Net income $ 35,419 $ 28,332 $ 75,021 $ 56,854 Series A Preferred Stock Dividends — (3,600) (1,200) (7,200) Redemption premium on Series A Preferred Stock — — (75,198) — Numerator for basic earnings per share $ 35,419 $ 24,732 $ (1,377) $ 49,654 Series A Preferred Stock Dividends — 3,600 — 7,200 Numerator for diluted earnings per share $ 35,419 $ 28,332 $ (1,377) $ 56,854 Denominator: Weighted average shares outstanding for basic earnings per share 29,852 25,054 28,294 24,997 Effect of dilutive securities: Employee and director stock awards 205 39 — 82 Series A Preferred Stock — 4,117 — 4,117 Denominator for diluted earnings per share 30,057 29,210 28,294 29,196 Basic earnings (loss) per common share $ 1.19 $ 0.99 $ (0.05) $ 1.99 Diluted earnings (loss) per common share $ 1.18 $ 0.97 $ (0.05) $ 1.95

Disaggregated Sales (Tables)

Disaggregated Sales (Tables)	6 Months Ended
Disaggregated Sales (Tables)	Aug. 31, 2024
Revenues [Abstract]
Disaggregation of Revenue	The following table presents disaggregated sales by customer industry (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Sales: Construction $ 233,196 $ 216,807 $ 461,691 $ 422,337 Industrial 36,691 42,245 76,767 82,889 Transportation 36,550 35,869 74,913 72,626 Consumer 31,408 34,673 65,169 70,258 Utilities 30,731 25,905 59,346 51,312 Other (1) 40,431 43,043 84,329 89,993 Total Sales $ 409,007 $ 398,542 $ 822,215 $ 789,415 (1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
Supplemental Cash Flow Information (Tables)	Aug. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	To arrive at net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in thousands): Six Months Ended August 31, 2024 2023 Decrease (increase) in current assets: Accounts receivable, net $ (10,813) $ (13,711) Other receivables (7,186) 13,101 Inventories 2,454 7,460 Contract assets (14,648) 57 Prepaid expenses and other (6,041) (2,544) Increase (decrease) in current liabilities: Accounts payable 23,269 15,037 Income taxes payable 1,747 (226) Accrued expenses 2,725 2,211 Changes in current assets and current liabilities $ (8,493) $ 21,385 Cash flows related to interest and income taxes were as follows (in thousands): Six Months Ended August 31, 2024 2023 Cash paid for interest $ 41,227 $ 51,539 Cash paid for income taxes 13,703 12,930 Supplemental disclosures of non-cash investing and financing activities were as follows (in thousands): Six Months Ended August 31, 2024 2023 Accrued dividends on Series A Preferred Stock $ — $ 2,400 Accruals for capital expenditures 5,379 5,579

Operating segments (Tables)

Operating segments (Tables)	6 Months Ended
Operating segments (Tables)	Aug. 31, 2024
Segment Reporting [Abstract]
Operations and assets by segment	three and six months ended August 31, 2024 and 2023 by segment, for the Company's corporate operations and on a consolidated basis (in thousands): Three Months Ended August 31, 2024 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2) Total Sales $ 171,500 $ 237,507 $ — $ — $ 409,007 Cost of sales 118,193 187,300 — — 305,493 Gross margin 53,307 50,207 — — 103,514 Selling, general and administrative 5,619 7,677 9 22,563 35,868 Operating income (loss) 47,688 42,530 (9) (22,563) 67,646 Interest expense — — — (21,909) (21,909) Equity in earnings of unconsolidated subsidiaries — — 1,478 — 1,478 Other (expense) income (7) — — 424 417 Income (loss) before income tax $ 47,681 $ 42,530 $ 1,469 (44,048) 47,632 Income tax expense 12,213 12,213 Net income (loss) $ (56,261) $ 35,419 See notes below tables. Six Months Ended August 31, 2024 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2) Total Sales $ 348,152 $ 474,063 $ — $ — $ 822,215 Cost of sales 240,929 375,102 — — 616,031 Gross margin 107,223 98,961 — — 206,184 Selling, general and administrative 11,602 16,338 38 40,811 68,789 Operating income (loss) 95,621 82,623 (38) (40,811) 137,395 Interest expense — — — (44,683) (44,683) Equity in earnings of unconsolidated subsidiaries — — 5,302 — 5,302 Other income 49 — — 572 621 Income (loss) before income tax $ 95,670 $ 82,623 $ 5,264 (84,922) 98,635 Income tax expense 23,614 23,614 Net income (loss) $ (108,536) $ 75,021 See notes below tables. Three Months Ended August 31, 2023 Metal Coatings Precoat Metals Infrastructure Solutions (1) Corporate (2) Total Sales $ 169,837 $ 228,705 $ — $ — $ 398,542 Cost of sales 119,471 181,825 — — 301,296 Gross margin 50,366 46,880 — — 97,246 Selling, general and administrative 5,285 7,874 5,932 17,148 36,239 Operating income (loss) 45,081 39,006 (5,932) (17,148) 61,007 Interest expense — — — (27,770) (27,770) Equity in earnings of unconsolidated subsidiaries — — 974 — 974 Other income 13 — — 75 88 Income (loss) before income tax $ 45,094 $ 39,006 $ (4,958) (44,843) 34,299 Income tax expense 5,967 5,967 Net income (loss) $ (50,810) $ 28,332 See notes below tables. Six Months Ended August 31, 2023 Metal Coatings Precoat Metals (4) Infrastructure Solutions (1) Corporate (2) Total Sales $ 338,631 $ 450,784 $ — $ — $ 789,415 Cost of sales 237,328 357,822 — — 595,150 Gross margin 101,303 92,962 — — 194,265 Selling, general and administrative 10,751 16,266 5,954 34,791 67,762 Operating income (loss) 90,552 76,696 (5,954) (34,791) 126,503 Interest expense — — — (56,476) (56,476) Equity in earnings of unconsolidated subsidiaries — — 2,394 — 2,394 Other income (expense) (11) — — 61 50 Income (loss) before income tax $ 90,541 $ 76,696 $ (3,560) (91,206) 72,471 Income tax expense 15,617 15,617 Net income (loss) $ (106,823) $ 56,854 (1) Infrastructure Solutions segment includes the equity in earnings from our investment in the AVAIL JV as well as other expenses related to receivables and liabilities that were retained 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.
Reconciliation of Assets from Segment to Consolidated	Asset balances by operating segment for each period were as follows (in thousands): As of August 31, 2024 February 29, 2024 Assets: Metal Coatings $ 550,394 $ 553,505 Precoat Metals 1,557,895 1,500,122 Infrastructure Solutions - Investment in Joint Venture 97,768 98,169 Corporate 34,273 43,709 Total assets $ 2,240,330 $ 2,195,505
Revenue from External Customers by Geographic Areas	Financial information about geographical areas for the periods presented was as follows (in thousands). The geographic area is based on the location of the operating facility and no customer accounted for 10 percent or more of consolidated sales. Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Sales: United States $ 398,658 $ 388,538 $ 801,709 $ 769,860 Canada 10,349 10,004 20,506 19,555 Total $ 409,007 $ 398,542 $ 822,215 $ 789,415
Long-lived Assets by Geographic Areas	As of August 31, 2024 February 29, 2024 Property, plant and equipment, net: United States $ 550,761 $ 522,693 Canada 18,971 18,959 Total $ 569,732 $ 541,652

Investments in Unconsolidated_2

Investments in Unconsolidated Entity (Tables)	6 Months Ended
Investments in Unconsolidated Entity (Tables)	Aug. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Summarized Balance Sheet As of August 31, 2024 (1) Current assets $ 281,937 Long-term assets 177,926 Total assets $ 459,863 Current liabilities 139,333 Long-term liabilities 124,359 Total liabilities $ 263,692 Total partners' capital 196,171 Total liabilities and partners' capital $ 459,863 Summarized Operating Data Three Months Ended Six Months Ended August 31, 2024 (1) August 31, 2024 (1) Sales $ 119,584 $ 249,300 Gross profit 27,569 59,086 Net income 2,780 10,955 (1) We report our equity in earnings on a one-month lag basis; therefore, amounts in the summarized financials above are as of and for the three and six months ended July 31, 2024. Amounts in the table above exclude certain adjustments made by us to record equity in earnings of the AVAIL JV under U.S GAAP for public companies, primarily to reverse the amortization of goodwill.

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Aug. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Our long-term debt instruments and balances outstanding for each of the periods presented (in thousands): As of August 31, 2024 February 29, 2024 Revolving Credit Facility $ 75,000 $ 30,000 Term Loan B 890,250 980,250 Total debt, gross 965,250 1,010,250 Unamortized debt issuance costs (52,678) (57,508) Long-term debt, net $ 912,572 $ 952,742
Interest Income and Interest Expense Disclosure	Interest expense is comprised as follows (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Gross Interest expense $ 23,621 $ 28,298 $ 47,827 $ 57,260 Less: Capitalized interest (1,712) (528) (3,144) (784) Interest expense, net $ 21,909 $ 27,770 $ 44,683 $ 56,476

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Aug. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Our financial instruments that are measured at fair value on a recurring basis as of August 31, 2024 and February 29, 2024 are as follows (dollars in thousands): Fair Value Measurements Using Fair Value Measurements Using Carrying Assets measured Carrying Assets measured August 31, 2024 Level 1 Level 2 at Net Asset Value February 29, 2024 Level 1 Level 2 at Net Asset Value Assets: Interest Rate Swap Agreement (1) $ — $ — $ — $ — $ 3,410 $ — $ 3,410 $ — Total Assets $ — $ 3,410 Liabilities: Interest Rate Swap Agreement (1) 687 — 687 — — — — — Net Pension Obligation 26,007 — — 26,007 31,148 — — 31,148 Total Liabilities $ 26,694 $ 31,148 (1) The fair value of the Company's interest rate swap agreement was an asset at February 29, 2024 and a liability at August 31, 2024. (2) The Plan was underfunded with a pension obligation of $26.0 million as of August 31, 2024, which is included in 'Other long-term liabilities' on the consolidated balance sheets.

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Aug. 31, 2024
Leases [Abstract]
Lease, Cost	The following table outlines the classification of right-of-use ("ROU") asset and lease liabilities in the consolidated balance sheets as of August 31, 2024 and February 29, 2024 (in thousands): Balance Sheet Classification As of August 31, 2024 February 29, 2024 Assets Operating right-of-use assets Right-of-use assets $ 17,194 $ 19,808 Finance right-of-use assets Right-of-use assets 4,859 3,931 Liabilities Operating lease liabilities ― short-term Lease liability - short-term $ 5,579 $ 5,893 Operating lease liabilities ― long-term Lease liability - long-term 12,284 14,606 Finance lease liabilities ― short-term Lease liability - short-term 995 766 Finance lease liabilities ― long-term Lease liability - long-term 3,979 3,221 Supplemental information related to AZZ's leases was as follows (in thousands, except years and percentages): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Operating cash flows from operating leases included in lease liabilities $ 1,794 $ 1,834 $ 3,561 $ 3,654 Lease liabilities obtained from new ROU assets - operating 410 373 628 1,895 Decrease in ROU assets related to lease terminations — (1,294) — (1,302) Financing cash flows from finance leases included in lease liabilities 236 92 432 162 Operating cash flows from finance leases included in lease liabilities 83 21 151 37 Lease liabilities obtained from new ROU assets - finance leases 1,009 599 1,419 599 As of August 31, 2024 February 29, 2024 Weighted-average remaining lease term - operating leases 3.8 years 4.12 years Weighted-average discount rate - operating leases 4.62 % 4.49 % Weighted-average remaining lease term - finance leases 4.84 years 5.21 years Weighted-average discount rate - finance leases 7.08 % 6.70 % The following table outlines the classification of lease expense related to operating and finance leases in the statements of operations (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Operating lease expense: Cost of sales $ 3,026 $ 3,035 $ 6,029 $ 6,060 Selling, general and administrative 488 506 977 1,005 Total operating lease expense 3,514 3,541 $ 7,006 $ 7,065 Financing lease expense: Cost of sales 269 101 492 177 Interest expense 83 21 151 37 Total financing lease expense 352 122 643 214 Total lease expense $ 3,866 $ 3,663 $ 7,649 $ 7,279 Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Sublease income $ 254 $ 248 $ 509 $ 488
Lessee, Operating Lease, Liability, Maturity	As of August 31, 2024, maturities of our lease liabilities were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2025 $ 3,259 $ 665 $ 3,924 2026 5,912 1,263 7,175 2027 4,598 1,224 5,822 2028 2,542 1,137 3,679 2029 1,918 920 2,838 2030 462 499 961 Thereafter 796 170 966 Total lease payments $ 19,487 $ 5,878 $ 25,365 Less imputed interest (1,624) (904) (2,528) Total $ 17,863 $ 4,974 $ 22,837
Finance Lease, Liability, Maturity	As of August 31, 2024, maturities of our lease liabilities were as follows (in thousands): Fiscal year: Operating Leases Finance Leases Total 2025 $ 3,259 $ 665 $ 3,924 2026 5,912 1,263 7,175 2027 4,598 1,224 5,822 2028 2,542 1,137 3,679 2029 1,918 920 2,838 2030 462 499 961 Thereafter 796 170 966 Total lease payments $ 19,487 $ 5,878 $ 25,365 Less imputed interest (1,624) (904) (2,528) Total $ 17,863 $ 4,974 $ 22,837

Equity (Tables)

Equity (Tables)	6 Months Ended
Equity (Tables)	Aug. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) ("AOCI"), after tax, for the three and six months ended August 31, 2024 and 2023 consisted of the following (in thousands): Three Months Ended August 31, 2024 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (8,053) $ 1,418 $ (184) $ 3,652 $ 108 $ (3,059) Other comprehensive income before reclassification 864 (531) — (3,062) 6 (2,723) Amounts reclassified from AOCI — — — (1,113) — (1,113) Net change in AOCI 864 (531) — (4,175) 6 (3,836) Balance as of end of period $ (7,189) $ 887 $ (184) $ (523) $ 114 $ (6,895) Six Months Ended August 31, 2024 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,628) $ 1,418 $ (184) $ 2,533 $ (33) $ (3,894) Other comprehensive income before reclassification 439 (531) — (842) 147 (787) Amounts reclassified from AOCI — — — (2,214) — (2,214) Net change in AOCI 439 (531) — (3,056) 147 (3,001) Balance as of end of period $ (7,189) $ 887 $ (184) $ (523) $ 114 $ (6,895) Three Months Ended August 31, 2023 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,552) $ 1,112 $ 119 $ (1,054) $ (165) $ (7,540) Other comprehensive income before reclassification 18 (2,885) — 5,254 278 2,665 Amounts reclassified from AOCI — — — (939) — (939) Net change in AOCI 18 (2,885) — 4,315 278 1,726 Balance as of end of period $ (7,534) $ (1,773) $ 119 $ 3,261 $ 113 $ (5,814) Six Months Ended August 31, 2023 Foreign Currency Translation Gain (Loss) Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net Actuarial Gain (Loss), Net of Tax Interest Rate Swap, Net of Tax Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary Total Balance as of beginning of period $ (7,571) $ — $ 119 $ 2,879 $ — $ (4,573) Other comprehensive income before reclassification 37 (1,773) — 1,870 113 247 Amounts reclassified from AOCI — — — (1,488) — (1,488) Net change in AOCI 37 (1,773) — 382 113 (1,241) Balance as of end of period $ (7,534) $ (1,773) $ 119 $ 3,261 $ 113 $ (5,814)

Defined Benefit Pension Plan (T

Defined Benefit Pension Plan (Tables)	6 Months Ended
Defined Benefit Pension Plan (Tables)	Aug. 31, 2024
Postemployment Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net benefit cost other than the employer service cost are included in "Selling, general and administrative" expense. The following table outlines the net benefit cost and its components (in thousands): Three Months Ended August 31, Six Months Ended August 31, 2024 2023 2024 2023 Expected return on plan assets $ 1,711 $ 1,759 $ 3,414 $ 3,517 Interest cost (1,491) (1,488) (2,975) (2,975) Net benefit cost $ 220 $ 271 $ 439 $ 542

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details) - operating_segments	6 Months Ended
	Aug. 31, 2024	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%	40%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024
Inventory Disclosure [Abstract]
Raw material	$ 111,728	$ 111,674
Work in process	552	898
Finished goods	2,969	5,084
Total Inventory	115,249	117,656
Inventory reserves	$ 3,500	$ 4,500

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Numerator:
Net income from continuing operations	$ 35,419	$ 28,332	$ 75,021	$ 56,854
Dividends on preferred stock	0	(3,600)	(1,200)	(7,200)
Plus: Redemption premium on Series A Preferred Stock	0	0	(75,198)	0
Net income from continuing operations available to common shareholders	35,419	24,732	(1,377)	49,654
Dividends on Series A Preferred Stock	0	3,600	0	7,200
Numerator for diluted earnings per share	$ 35,419	$ 28,332	$ (1,377)	$ 56,854
Denominator:
Denominator for basic earnings per common share-weighted average shares (shares)	29,852,000	25,054,000	28,294,000	24,997,000
Effect of dilutive securities:
Employee and director stock awards	205,000	39,000	0	82,000
Series A convertible preferred stock (shares)	0	4,117,000	0	4,117,000
Denominator for diluted earnings per common share (shares)	30,057,000	29,210,000	28,294,000	29,196,000
Computation of basic and diluted earnings per share
Basic earnings per common share (usd per share)	$ 1.19	$ 0.99	$ (0.05)	$ 1.99
Diluted earnings per common share (usd per share)	$ 1.18	$ 0.97	$ (0.05)	$ 1.95

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
Earnings Per Share - Narrative (Details) - shares	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023	Feb. 29, 2024
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Common stock, shares, outstanding (shares)	29,877,000		29,877,000		25,102,000
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	76,068	126,882	70,455	125,793
Convertible Preferred Stock \| Series A 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			1,600,000

Disaggregated Sales (Details)

Disaggregated Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Disaggregated Sales (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Disaggregation of Revenue [Line Items]
Sales	$ 409,007	$ 398,542	$ 822,215	$ 789,415
Industrial
Disaggregation of Revenue [Line Items]
Sales	36,691	42,245	76,767	82,889
Consumer
Disaggregation of Revenue [Line Items]
Sales	31,408	34,673	65,169	70,258
Transportation
Disaggregation of Revenue [Line Items]
Sales	36,550	35,869	74,913	72,626
Electrical/Utility
Disaggregation of Revenue [Line Items]
Sales	30,731	25,905	59,346	51,312
Other
Disaggregation of Revenue [Line Items]
Sales	40,431	43,043	84,329	89,993
Construction
Disaggregation of Revenue [Line Items]
Sales	$ 233,196	$ 216,807	$ 461,691	$ 422,337

Disaggregated Sales - Narrative

Disaggregated Sales - Narrative (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024	Aug. 31, 2023	Feb. 28, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 93,983	$ 79,335	$ 76,800	$ 79,300
Contract liabilities	$ 700	$ 1,000	$ 1,100	$ 1,300

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - New Cash Provided by Operating Activities (Details) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Decrease (increase) in current assets:
Accounts receivable, net	$ (10,813)	$ (13,711)
Other receivables	(7,186)	13,101
Inventories	2,454	7,460
Contract assets	(14,648)	57
Prepaid expenses and other	(6,041)	(2,544)
Increase (decrease) in current liabilities:
Accounts payable	23,269	15,037
Income taxes payable	1,747	(226)
Accrued expenses	2,725	2,211
Changes in current assets and current liabilities	$ (8,493)	$ 21,385

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Cash Related to Interest and Income Taxes and Supplemental Disclosures of Non-Cash Activities (Details) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 41,227	$ 51,539
Cash paid for income taxes	13,703	12,930
Accrued dividends on Series A Preferred Stock	0	2,400
Accruals for capital expenditures	$ 5,379	$ 5,579

Operating segments (Details)

Operating segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Operating segments (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023	Feb. 29, 2024	Sep. 30, 2022
Operations and assets by segment
Sales	$ 409,007	$ 398,542	$ 822,215	$ 789,415
Cost of sales	305,493	301,296	616,031	595,150
Gross margin	103,514	97,246	206,184	194,265
Selling, general and administrative	35,868	36,239	68,789	67,762
Operating income (loss)	67,646	61,007	137,395	126,503
Interest expense, net	(21,909)	(27,770)	(44,683)	(56,476)
Equity in earnings of unconsolidated subsidiaries	1,478	974	5,302	2,394
Other (expense) income	417	88	621	50
Income (loss) before income tax	47,632	34,299	98,635	72,471
Income taxes	12,213	5,967	23,614	15,617
Net income from continuing operations	35,419	28,332	75,021	56,854
Assets:	2,240,330		2,240,330		$ 2,195,505
Property, plant and equipment, net	$ 569,732		$ 569,732		541,652
AIS Joint Venture
Operations and assets by segment
Ownership percentage of investment	40%		40%			40%
United States
Operations and assets by segment
Sales	$ 398,658	388,538	$ 801,709	769,860
Property, plant and equipment, net	550,761		550,761		522,693
Canada
Operations and assets by segment
Sales	10,349	10,004	20,506	19,555
Property, plant and equipment, net	18,971		18,971		18,959
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	22,563	17,148	40,811	34,791
Operating income (loss)	(22,563)	(17,148)	(40,811)	(34,791)
Interest expense, net	(21,909)	(27,770)	(44,683)	(56,476)
Equity in earnings of unconsolidated subsidiaries	0	0	0	0
Other (expense) income	424	75	572	61
Income (loss) before income tax	(44,048)	(44,843)	(84,922)	(91,206)
Income taxes	12,213	5,967	23,614	15,617
Net income from continuing operations	(56,261)	(50,810)	(108,536)	(106,823)
Assets:	34,273		34,273		43,709
Metal Coatings \| Operating Segments
Operations and assets by segment
Sales	171,500	169,837	348,152	338,631
Cost of sales	118,193	119,471	240,929	237,328
Gross margin	53,307	50,366	107,223	101,303
Selling, general and administrative	5,619	5,285	11,602	10,751
Operating income (loss)	47,688	45,081	95,621	90,552
Interest expense, net	0	0	0	0
Equity in earnings of unconsolidated subsidiaries	0	0	0	0
Other (expense) income	(7)	13	49	(11)
Income (loss) before income tax	47,681	45,094	95,670	90,541
Assets:	550,394		550,394		553,505
Precoat Metals \| Operating Segments
Operations and assets by segment
Sales	237,507	228,705	474,063	450,784
Cost of sales	187,300	181,825	375,102	357,822
Gross margin	50,207	46,880	98,961	92,962
Selling, general and administrative	7,677	7,874	16,338	16,266
Operating income (loss)	42,530	39,006	82,623	76,696
Interest expense, net	0	0	0	0
Equity in earnings of unconsolidated subsidiaries	0	0	0	0
Other (expense) income	0	0	0	0
Income (loss) before income tax	42,530	39,006	82,623	76,696
Assets:	1,557,895		1,557,895		1,500,122
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	9	5,932	38	5,954
Operating income (loss)	(9)	(5,932)	(38)	(5,954)
Interest expense, net	0	0	0	0
Equity in earnings of unconsolidated subsidiaries	1,478	974	5,302	2,394
Other (expense) income	0	0	0	0
Income (loss) before income tax	1,469	$ (4,958)	5,264	$ (3,560)
Assets:	$ 97,768		$ 97,768		$ 98,169

Investments in Unconsolidated_3

Investments in Unconsolidated Entity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023	Feb. 29, 2024	Sep. 30, 2022
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated subsidiaries	$ (1,478)	$ (974)	$ (5,302)	$ (2,394)
AIS Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage of investment	40%		40%			40%
Investment in joint venture	$ 97,768		$ 97,768		$ 98,169
Excess of equity method investment from carrying amount	$ 10,200		10,200
AIS Joint Venture \| AZZ Infrastructure Solutions
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated subsidiaries			$ 5,300
AIS Joint Venture \| AZZ Infrastructure Solutions \| Discontinued Operations, Disposed of by Sale
Schedule of Equity Method Investments [Line Items]
Investment in joint venture						$ 97,800

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Schedule of Condensed Balance Sheet For AIS Joint Venture (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024
Assets [Abstract]
Current Assets	$ 401,156	$ 366,999
Total assets	2,240,330	2,195,505
Liabilities [Abstract]
Current liabilities	217,130	194,306
Liabilities	1,240,574	1,261,014
Total liabilities, mezzanine equity and shareholders' equity	2,240,330	$ 2,195,505
AIS Joint Venture
Assets [Abstract]
Current Assets	281,937
Non-current assets	177,926
Total assets	459,863
Liabilities [Abstract]
Current liabilities	139,333
Non-current liabilities	124,359
Liabilities	263,692
Partners' Capital	196,171
Total liabilities, mezzanine equity and shareholders' equity	$ 459,863

Investments in Unconsolidated_5

Investments in Unconsolidated Entities - Schedule of Condensed Statement of Operations for AIS Joint Venture (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Income Statement [Abstract]
Gross margin	$ 103,514	$ 97,246	$ 206,184	$ 194,265
AIS Joint Venture
Income Statement [Abstract]
Sales			119,584	249,300
Gross margin			27,569	59,086
Net income			$ 2,780	$ 10,955

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023	Sep. 27, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification of AOCI, before tax				$ (2,900)
Amounts reclassified from accumulated other comprehensive income to earnings, net of tax	[1]	$ (1,113)	$ (939)	(2,214)	$ (1,487)
Interest Rate Swap, Portion Of Variable Rate Debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate on swap agreement						7.527%
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount on swap agreement		$ 539,000		$ 539,000		$ 550,000

[1] (3) Net of tax benefit of ($351) and ($341) for the three months ended August 31,2024 and 2023, respectively. Net of tax benefit of $(699) and $(540) for the six months ended August 31, 2024 and 2023, respectively. See Note 8.

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024	Aug. 31, 2023
Debt Instrument [Line Items]
Total debt, gross	$ 965,250	$ 1,010,250	$ 1,010,300
Unamortized debt issuance costs	(52,678)	(57,508)
Long-term debt, net	912,572	952,742
Term Loan B
Debt Instrument [Line Items]
Total debt, gross	890,250	980,250
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Total debt, gross	$ 75,000	$ 30,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands						6 Months Ended	120 Months Ended
Debt - Narrative (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Mar. 20, 2024	Sep. 27, 2022	Aug. 31, 2022	May 13, 2022	Aug. 31, 2024	Mar. 19, 2024	Aug. 31, 2023
Debt Instrument [Line Items]
Weighted average interest rate	8.03%					8.03%		8.56%
Letters of credit outstanding	$ 14,300					$ 14,300
Term Loan B
Debt Instrument [Line Items]
Periodic payments				$ 3,250
2022 Credit Agreement And Term Loan B
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	965,300					$ 965,300
Senior Notes \| Line of Credit
Debt Instrument [Line Items]
Remaining borrowing capacity on line of credit	$ 310,700					310,700
Loans Payable \| Term Loan B
Debt Instrument [Line Items]
Debt instrument, face amount					$ 1,300,000
Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread	2.75%				3.25%
Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Basis spread		2.75%
Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Basis spread		3.50%
Revolving Credit Facility \| Term Loan B
Debt Instrument [Line Items]
Basis spread		3.25%					3.75%
Revolving Credit Facility \| 2022 Credit Agreement And Term Loan B
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 890,300				$ 400,000	$ 890,300
Basis spread		3.25%	4.277%
Standby And Commercial Letters Of Credit \| 2022 Credit Agreement And Term Loan B
Debt Instrument [Line Items]
Accordion feature					$ 100,000

Debt - Interest Expense Disclos

Debt - Interest Expense Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Debt Disclosure [Abstract]
Gross Interest expense	$ 23,621	$ 28,298	$ 47,827	$ 57,260
Less: Capitalized interest	1,712	528	3,144	784
Interest expense, net	$ 21,909	$ 27,770	$ 44,683	$ 56,476

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0	$ 3,410
Pension obligation	26,007	31,148
Total Liabilities	26,694	31,148
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Pension obligation	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Pension obligation	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Pension obligation	26,007	31,148
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	(3,410)
Derivative liabilities	687	0
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
Derivative liabilities	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	0	(3,410)
Derivative liabilities	687	0
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
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024	Aug. 31, 2023
Fair Value Disclosures [Abstract]
Total debt, gross	$ 965,250	$ 1,010,250	$ 1,010,300
Fair value of outstanding debt	$ 972,500		$ 1,010,300

Leases - Narrative (Details)

Leases - Narrative (Details)	Aug. 31, 2024 lease
Leases [Abstract]
Number of operating leases	148
Number of finance leases	55

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Feb. 29, 2024
Lessee, Lease, Description [Line Items]
Operating right-of-use assets	$ 17,194	$ 19,808
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Right-of-use assets	Right-of-use assets
Finance right-of-use assets	$ 4,859	$ 3,931
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Right-of-use assets	Right-of-use assets
Operating lease liabilities ― short-term	$ 5,579	$ 5,893
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Lease liability, short-term	Lease liability, short-term
Operating lease liabilities ― long-term	$ 12,284	$ 14,606
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liability, long-term	Lease liability, long-term
Finance lease liabilities ― short-term	$ 995	$ 766
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Lease liability, short-term	Lease liability, short-term
Finance lease liabilities ― long-term	$ 3,979	$ 3,221
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Lease liability, long-term	Lease liability, long-term

Leases - Lease Details (Details

Leases - Lease Details (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Details (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023	Feb. 29, 2024
Lease, Cost [Abstract]
Operating cash flows from operating leases included in lease liabilities	$ 1,794	$ 1,834	$ 3,561	$ 3,654
Lease liabilities obtained from new ROU assets - operating	410	373	628	1,895
Decrease in ROU assets related to lease terminations	0	(1,294)	0	(1,302)
Financing cash flows from finance leases included in lease liabilities	236	92	432	162
Operating cash flows from finance leases included in lease liabilities	83	21	151	37
Lease liabilities obtained from new ROU assets - finance leases	$ 1,009	$ 599	$ 1,419	$ 599
Weighted-average remaining lease term - operating leases	3 years 9 months 18 days		3 years 9 months 18 days		4 years 1 month 13 days
Weighted-average discount rate - operating leases	4.62%		4.62%		4.49%
Weighted-average remaining lease term - finance leases	4 years 10 months 2 days		4 years 10 months 2 days		5 years 2 months 15 days
Weighted-average discount rate - finance leases	7.08%		7.08%		6.70%

Leases - Classification of Leas

Leases - Classification of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Lessee, Lease, Description [Line Items]
Operating lease, cost	$ 3,514	$ 3,541	$ 7,006	$ 7,065
Finance lease expense, cost of sales	269	101	492	177
Finance lease expense, interest expense	83	21	151	37
Total financing lease expense	352	122	643	214
Total lease expense	3,866	3,663	7,649	7,279
Cost of sales
Lessee, Lease, Description [Line Items]
Operating lease, cost	3,026	3,035
Total lease expense			6,029	6,060
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Operating lease, cost	$ 488	$ 506
Total lease expense			$ 977	$ 1,005

Leases - Lease Maturity (Detail

Leases - Lease Maturity (Details) $ in Thousands	Aug. 31, 2024 USD ($)
Operating Leases
2025	$ 3,259
2026	5,912
2027	4,598
2028	2,542
2029	1,918
2030	462
Thereafter	796
Total lease payments	19,487
Less imputed interest	(1,624)
Total	17,863
Finance Leases
2025	665
2026	1,263
2027	1,224
2028	1,137
2029	920
2030	499
Thereafter	170
Total lease payments	5,878
Less imputed interest	(904)
Total	4,974
2025	3,924
2026	7,175
2027	5,822
2028	3,679
2029	2,838
2030	961
Thereafter	966
Total lease payments	25,365
Less imputed interest	(2,528)
Total	$ 22,837

Leases - Sublease Income (Detai

Leases - Sublease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Sublease Income (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Leases [Abstract]
Sublease income	$ 254	$ 248	$ 509	$ 488

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended	6 Months Ended
Income Taxes - Narrative (Details)	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate, continuing operations (percent)	25.60%	23.90%	21.50%

Mezzanine Equity (Details)

Mezzanine Equity (Details) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	May 09, 2024 USD ($)	Aug. 05, 2022 USD ($) $ / shares shares	Aug. 31, 2024 USD ($) $ / shares shares	Aug. 31, 2023 USD ($)	Aug. 31, 2024 USD ($) $ / shares shares	Aug. 31, 2023 USD ($)	May 13, 2024	Feb. 29, 2024 USD ($)
Class of Stock [Line Items]
Plus: Redemption premium on Series A Preferred Stock			$ 0	$ 0	$ 75,198	$ 0
Series A Convertible Preferred Stock, $1,000 par, shares authorized 100,000; 240 shares issued and outstanding February 29, 2024; aggregate liquidation preference $312,520 at February 29, 2024			$ 0		0			$ 233,722
Dividends					$ 3,600	$ 7,200
Preferred stock, maximum conversion rate (as a percent)							25%
Percentage of common stock price, excess of conversion price (as a percent)							185%
Number of trading days							20 days
Net EBITDA ratio			550%		550%
Acquisition, total consideration, minimum threshold			$ 250,000		$ 250,000
Market capitalization			2,000,000		2,000,000
Acquisition, total consideration, minimum threshold when market capitalization exceeds $2.0 billion			$ 500,000		$ 500,000
Liquidation preference, preferred stock								312,500
Series A Preferred Stock
Class of Stock [Line Items]
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$ (27,100)
Payments for Repurchase of Redeemable Preferred Stock	308,900
Plus: Redemption premium on Series A Preferred Stock	75,200
Series A Convertible Preferred Stock, $1,000 par, shares authorized 100,000; 240 shares issued and outstanding February 29, 2024; aggregate liquidation preference $312,520 at February 29, 2024	$ 233,700
Aggregate debt amount		$ 240,000
Preferred stock, par value (in dollars per share) \| $ / shares		$ 1	$ 15		$ 15
Preferred stock, shares outstanding (in shares) \| shares			240,000		240,000
Dividend rate (as a percent)		6%
Minimum conversion threshold (in shares) \| shares		1,000
Conversion price (in dollars per share) \| $ / shares		$ 58.30
Return factor			1.4		1.4
Increase to return factor, period one			0.15		0.15
Increase to return factor, period two			0.15		0.15
Redemption feature, net debt ratio, threshold			3.5		3.5
Redemption feature, proceeds from disposition of assets, threshold					$ 200,000
Increase to return factor, period three			0.20		0.20
Preferred stock, redemption								$ 312,500

Equity (Details)

Equity (Details) - April 2024 Secondary Offering $ / shares in Units, shares in Millions, $ in Millions	Apr. 30, 2024 USD ($) $ / shares shares
Equity, Class of Treasury Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction \| shares	4.6
Share Price \| $ / shares	$ 70
Sale of Stock, Consideration Received On Transaction, Gross	$ 322
Payments of Stock Issuance Costs	13.3
Sale of Stock, Consideration Received on Transaction	$ 308.7

Equity - AOCI (Details)

Equity - AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Equity - AOCI (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	$ 967,232	$ 637,651	$ 700,769	$ 619,738
Other comprehensive loss before reclassification	(2,723)	2,665	(787)	247
Amounts reclassified from AOCI	(1,113)	(939)	(2,214)	(1,488)
Net change in AOCI	(3,836)	1,726	(3,001)	(1,241)
Balance, ending balance	999,756	664,355	999,756	664,355
Foreign Currency Translation Gain (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(8,053)	(7,552)	(7,628)	(7,571)
Other comprehensive loss before reclassification	864	18	439	37
Amounts reclassified from AOCI	0	0	0	0
Net change in AOCI	864	18	439	37
Balance, ending balance	(7,189)	(7,534)	(7,189)	(7,534)
Foreign Currency Translation Gain (Loss) for Unconsolidated Subsidiary, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	1,418	1,112	1,418	0
Other comprehensive loss before reclassification	(531)	(2,885)	(531)	(1,773)
Amounts reclassified from AOCI	0	0	0	0
Net change in AOCI	(531)	(2,885)	(531)	(1,773)
Balance, ending balance	887	(1,773)	887	(1,773)
Net Actuarial Gain (Loss), Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(184)	119	(184)	119
Other comprehensive 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	(184)	119	(184)	119
Interest Rate Swap, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	3,652	(1,054)	2,533	2,879
Other comprehensive loss before reclassification	(3,062)	5,254	(842)	1,870
Amounts reclassified from AOCI	(1,113)	(939)	(2,214)	(1,488)
Net change in AOCI	(4,175)	4,315	(3,056)	382
Balance, ending balance	(523)	3,261	(523)	3,261
Interest Rate Swap, Net of Tax for Unconsolidated Subsidiary
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	108	(165)	(33)	0
Other comprehensive loss before reclassification	6	278	147	113
Amounts reclassified from AOCI	0	0	0	0
Net change in AOCI	6	278	147	113
Balance, ending balance	114	113	114	113
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning balance	(3,059)	(7,540)	(3,894)	(4,573)
Balance, ending balance	$ (6,895)	$ (5,814)	$ (6,895)	$ (5,814)

Defined Benefit Pension Plan (D

Defined Benefit Pension Plan (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Expected return	$ 1,711	$ 1,759	$ 3,414	$ 3,517
Interest costs	(1,491)	(1,488)	(2,975)	(2,975)
Net periodic benefit costs	220	$ 271	439	$ 542
Employer contributions			5,600
Net benefit cost	(2,200)		(2,200)
Precoat Metals Business Division
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Accumulated benefit obligation in excess of plan assets	$ 26,000		$ 26,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands			6 Months Ended	12 Months Ended
Commitments and Contingencies (Details) $ in Thousands	May 31, 2024 USD ($)	Oct. 27, 2023 USD ($)	Aug. 31, 2024 USD ($) a	Feb. 29, 2024 USD ($)
Loss Contingencies [Line Items]
Amount awarded to other party		$ 5,500
Loss contingency, receivable, current			$ 5,200
Loss contingency accrual			5,250
Environment liability			20,400
Environmental liability, current			$ 2,800
Area of facility (in acres) \| a			25
Percent of output under take-or-pay contract			0.75
Unrecorded purchase obligation			$ 124,000
Purchase obligations			35,600	$ 60,800
Capital commitments			27,600
Capital Commitments
Loss Contingencies [Line Items]
Long-term purchase commitment, amount			$ 17,400
Zinc Contract
Loss Contingencies [Line Items]
Long-term purchase commitment, amount	$ 37,900
Natural Gas Contract
Loss Contingencies [Line Items]
Long-term purchase commitment, amount	$ 9,300

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions						120 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	Sep. 24, 2024	Aug. 31, 2024	Mar. 20, 2024	Sep. 27, 2022	May 13, 2022	Mar. 19, 2024
Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread		2.75%			3.25%
Revolving Credit Facility \| 2022 Credit Agreement And Term Loan B
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 890.3			$ 400
Basis spread			3.25%	4.277%
Revolving Credit Facility \| Term Loan B
Subsequent Event [Line Items]
Basis spread			3.25%			3.75%
Subsequent Event \| Term Loan B
Subsequent Event [Line Items]
Decrease to interest rate margin	0.75%
Subsequent Event \| Revolving Credit Facility \| 2022 Credit Agreement And Term Loan B
Subsequent Event [Line Items]
Basis spread	2.50%