Segments

9 Months Ended

Nov. 30, 2021

Segment Reporting [Abstract]

Segments

Operating Segments

Segment Information

The Company has two distinct operating segments: the Metal Coatings segment and the Infrastructure Solutions segment.

The Metal Coatings segment provides hot dip galvanizing, spin galvanizing, powder coating, anodizing and plating, and other metal coating applications to the steel fabrication and other industries through facilities located throughout the United States and Canada. Hot dip galvanizing is a metallurgical process in which molten zinc reacts to steel. The zinc alloying provides corrosion protection and extends the life-cycle of fabricated steel for several decades.

The Infrastructure Solutions segment provides specialized products and services designed to support primarily industrial and electrical applications. The product offerings include custom switchgear, electrical enclosures, medium and high voltage bus ducts, explosion proof and hazardous duty lighting and tubular products. The Infrastructure Solutions segment also focuses on life-cycle extension for the power generation, refining and industrial infrastructure, through providing automated weld overlay solutions for corrosion and erosion mitigation.

Sales and operating income by segment for each period were as follows (in thousands):

	Three Months Ended November 30,				Nine Months Ended November 30,
	2021		2020		2021		2020
Sales:
Metal Coatings	$	133,373	$	115,616	$	390,701	$	351,643
Infrastructure Solutions	98,364		111,007		287,309		291,644
Total sales	$	231,737	$	226,623	$	678,010	$	643,287
Operating income:
Metal Coatings	$	32,724	$	28,671	$	95,888	$	69,355
Infrastructure Solutions	9,189		8,722		25,838		3,364
Corporate	(11,821)		(9,522)		(34,394)		(29,879)
Total operating income	$	30,092	$	27,871	$	87,332	$	42,840

Asset balances by segment for each period were as follows (in thousands):

	November 30, 2021		February 28, 2021
Total assets:
Metal Coatings	$	493,700	$	480,778
Infrastructure Solutions	515,987		489,986
Corporate	27,889		25,678
Total	$	1,037,576	$	996,442

Financial Information About Geographical Areas

The following table presents sales by geographic region for each period (in thousands):

	Three Months Ended November 30,				Nine Months Ended November 30,
	2021		2020		2021		2020
Sales:
United States	$	202,998	$	180,429	$	586,584	$	540,162
International	28,739		46,194		91,426		103,125
Total	$	231,737	$	226,623	$	678,010	$	643,287

The following table presents fixed assets by geographic region for each period (in thousands):

	November 30, 2021		February 28, 2021
Property, plant and equipment, net:
United States	$	178,020	$	180,718
Canada	11,968		15,007
Other countries	9,898		10,184
Total	$	199,886	$	205,909