SRSEC Reporting Desk

AZZ INC (AZZ) – Company response

2026-01-23 · Re: · Accession 0000008947-26-000023 · Agreed to revise

Responds to staff letter of 2026-01-16.

Segment Reporting (ASC 280)MD&A: Results & Known TrendsFair Value & InvestmentsStatement of Cash Flows (ASC 230)KPIs, Metrics & Earnings Calls

2026-01-16 · Form 10-K for the Fiscal Year Ended February 28, 2025 Form 10-Q for the Fiscal Quarter Ended November 30, 2025 · Comment 1 · Condensed Consolidated Statements of Cash Flows, page 6 Agreed to revise
Staff comment: We note the $273.2 million distribution on investment in AVAIL joint venture classified within operating activities. We further note from your disclosures in Note 8 that at the time of this distribution, the amount of the distribution exceeded your investment in the AVAIL JV of $107.4 million, resulting in the reduction of your investment in the AVAIL JV to zero and recognition of the excess amount of distribution as a gain. With a view to clarifying how you determined that none of this distribution amount was a return of your investment in the AVAIL JV that would be classified as an investing activity as contemplated by ASC 230-10-45-12(b), please revise your upcoming February 28, 2026… letter →
Company response: Refer to ASC 230-10-45-21D. Response: The Company respectfully acknowledges the Staff’s comment. The Company has elected and will disclose in its upcoming Form 10-K for the year ending February 28, 2026 and future filings, to follow the cumulative earnings approach when determining the classification of distributions received from equity method investees, in accordance with ASC 230-10-45-21D. In future filings, beginning with the Company’s Form 10-K for the year ending February 28, 2026, we will update our accounting policy to include information substantially similar to the following: Investment in Unconsolidated Joint Venture We account for the investment in our joint venture under the… response letter →
Fair Value & InvestmentsStatement of Cash Flows (ASC 230)
2026-01-16 · Form 10-K for the Fiscal Year Ended February 28, 2025 Form 10-Q for the Fiscal Quarter Ended November 30, 2025 · Comment 2 · Results of Operations, page 31 Agreed to revise
Staff comment: We note that when analyzing the change in revenue for each of your segments, you indicate the change resulted from a change in volume, partially offset by a change in selling price. While you have provided management's perspective on the underlying factors contributing to the change in selling price, you have not provided similar insight from management into the underlying factors contributing to the change in volume. We further note that management appears to have insight into these underlying factors based on the disaggregation of revenue by end market provided in Note 5 and the discussion in your third quarter earnings call of strong demand from infrastructure projects. Please revise… letter →
Company response: The Company respectfully acknowledges the Staff’s comment. In future filings, beginning with the Company’s Form 10-K for the year ending February 28, 2026, we will expand our disclosures in Management’s Discussion and Analysis of Financial Condition and Results of Operations to include information substantially similar to the following (example based on amounts from the 10-Q for the fiscal quarter ended November 30, 2025): Sales for the AZZ Metal Coatings segment increased $26.4 million, or 15.7%, for the current quarter, compared to the prior year quarter. The increase was primarily due to $30.0 million resulting from a higher volume of steel processed, primarily due to increases in the… response letter →
Segment Reporting (ASC 280)MD&A: Results & Known TrendsKPIs, Metrics & Earnings Calls

Full letter on EDGAR → · Filing index · All AZZ INC (AZZ) correspondence

Segment Reporting (ASC 280) – what to check: Check ASU 2023-07 significant segment expense disclosure, CODM identification, and that MD&A segment discussion matches the ASC 280 note.

MD&A: Results & Known Trends – what to check: Quantify drivers of changes (price vs. volume), discuss known trends and uncertainties, and avoid repeating the financial statements.

Fair Value & Investments – what to check: Disclose Level 3 valuation techniques and significant unobservable inputs, and support equity-method vs. fair value elections.

Statement of Cash Flows (ASC 230) – what to check:

KPIs, Metrics & Earnings Calls – what to check:

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