FORT WORTH, Texas, Jan. 30, 2026 /PRNewswire/ -- AZZ Inc., ("AZZ" or the "Company") (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced its Board of Directors approved a new stock repurchase program (the "2026 Share Repurchase Program"), effective immediately, under which up to $100 million of the Company's outstanding common stock may be acquired. The 2026 Share Repurchase Program is a complementary component of the Company's capital allocation framework and will primarily serve to offset the dilutive effect of equity grants to employees over time.
The 2026 Share Repurchase Program will run in tandem and will be in addition to the prior $100 million common stock repurchase authorization approved by the Board on November 10, 2020 (the "Prior Repurchase Program") and is substantially similar in all material respects to the Prior Repurchase Program. As of the end of AZZ's third quarter of fiscal year 2026, which ended November 30, 2025, there were approximately 30.0 million shares of AZZ common stock issued and outstanding, and approximately $33.2 million remained available for repurchases under the Prior Repurchase Program.
Repurchases will be made through open market purchases, private transactions, or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934 (the "Exchange Act") and could include repurchases pursuant to Rule 10b5-1 trading plans, which allows stock repurchases when the Company might otherwise be precluded from doing so.
Tom Ferguson, President and Chief Executive Officer of AZZ, commented, "We are pleased with the strong financial performance of our business this fiscal year. As a result of current market conditions, we believe that share repurchases at the current valuation are a good use of capital. The continuation of our stock repurchase program emphasizes the confidence that management has in the Company's solid operations and the strength of our balance sheet. We remain highly focused on executing our strategic growth initiatives while enhancing shareholder value."
AZZ cannot predict when, if, or the amount of shares of common stock it will repurchase pursuant to the 2026 Share Repurchase Program, as it will depend on a number of future factors, including constraints specified in any Rule 10b5-1 trading plans, the future market price of the Company's common stock, general business and market conditions, and alternative investment opportunities. Information regarding the share repurchases will continue to be available in AZZ's periodic reports on Form 10-Q and Form 10-K filed with the Securities and Exchange Commission as required by the applicable rules of the Exchange Act.
About AZZ Inc.
AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life.
Safe Harbor Statement
Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as "may," "could," "should," "expects," "plans," "will," "might," "would," "projects," "currently," "intends," "outlook," "forecasts," "targets," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial, and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our manufactured solutions, including demand by the construction markets, the industrial markets, and the metal coatings markets. We could also experience additional increases in production costs, due to inflation in labor costs, components and raw materials, including zinc and natural gas, which are used in our hot-dip galvanizing process and the paint used in our coil coating process; customer requested delays of our manufactured solutions; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ's growth strategy; a downturn in market conditions in any industry relating to the manufactured solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as more inflation or changes in the political stability in the United States and other foreign markets in which we operate; tariffs, acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business, including in Part I, Item 1A. Risk Factors, in AZZ's Annual Report on Form 10-K for the fiscal year ended February 28, 2025, and other filings with the SEC, available for viewing on AZZ's website at www.azz.com and on the SEC's website at www.sec.gov.You are urged to consider these factors carefully when evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Company Contact:
David Nark, Chief Marketing, Communications, and Investor Relations
AZZ Inc.
(817) 810-0095
www.azz.com
Investor Contact:
Sandy Martin, Phillip Kupper
Three Part Advisors
(214) 616-2207
www.threepa.com
SOURCE AZZ, Inc.
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