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The AZEK Company Inc. (symbol: AZEK) is a renowned leader in the design, manufacture, and sale of premium building products for residential, commercial, and industrial markets across the United States. Headquartered in Chicago, Illinois, and established in 2013, the company has quickly carved out a significant niche in the industry.
The company's diverse product portfolio includes trims, decks, porches, moldings, railings, pavers, and bathroom and locker systems. Additionally, it offers extruded plastic sheet products and other non-fabricated items tailored for specific industrial applications. AZEK markets its offerings under various well-known brand names such as AZEK, TimberTech, Versatex, Ultralox, StruXure, and Intex, among others.
AZEK operates through two main segments: Residential and Commercial. The Residential segment is the company's primary revenue generator, focusing on products that enhance outdoor living spaces. This includes environmentally sustainable, low-maintenance decks, railings, and outdoor furniture, which meet the growing demand for outdoor living solutions.
Beyond its residential focus, AZEK also provides high-quality commercial products under brands like Scranton Products, Aria Partitions, Eclipse Partitions, Hiny Hiders, Tufftec Lockers, and DuraLife Lockers. The company prides itself on its commitment to sustainability, ensuring that many of its products are made from recycled materials.
In 2020, the company transitioned from CPG Newco LLC to The AZEK Company Inc., marking a new chapter in its growth and expansion. Recent achievements include the launch of innovative products that cater to both aesthetic appeal and functional durability. Additionally, AZEK has established strategic partnerships to enhance its market reach and operational efficiency.
Financially, the company has demonstrated robust performance, with a significant portion of its revenue driven by the fast-growing outdoor living market. This strong financial footing allows AZEK to continually invest in research and development, ensuring a steady pipeline of innovative products that meet evolving customer needs.
Through clear and direct communication, AZEK maintains transparency with its stakeholders, providing regular updates on its performance, projects, and market developments. This dedication to excellence and customer satisfaction underscores AZEK's position as a leader in the building products industry.
The AZEK Company (NYSE: AZEK) has appointed Vernon J. Nagel and Natasha Li to its board of directors. Nagel, former CEO of Acuity Brands, brings extensive experience in driving profitable growth and market expansion. Li, a Partner at Ares Management, has significant knowledge of AZEK's history and operations. CEO Jesse Singh expressed enthusiasm about the new board members, emphasizing their potential to enhance the company's strategic vision. With this appointment, AZEK's board composition features over 25% women and more than 35% ethnic diversity.
The AZEK Company reported robust financial results for its fiscal fourth quarter and full year ended September 30, 2021. Net sales surged by 31.1% to a record $346.1 million, with net income increasing to $38.6 million. Adjusted EBITDA rose to $81.5 million, reflecting a $15.4 million increase year-over-year. For fiscal 2022, AZEK anticipates mid-teen net sales growth and high-teen growth in adjusted EBITDA. A fourth phase of capacity expansion aims to increase decking capacity by over 100% by the end of 2022.
TimberTech, a brand under The AZEK Company, announces the launch of its new product lineup in January 2022. This includes two new composite deck-board colors, French White Oak and Dark Cocoa, along with an efficient hidden fastener system to streamline installation. The French White Oak board mimics reclaimed wood while emphasizing sustainability, as it contains approximately 50% recycled material. The EDGE Prime+ Collection also features Dark Cocoa, made from up to 80% recycled materials, promoting low-maintenance outdoor living spaces.
The AZEK Company (NYSE: AZEK) announced that CEO Jesse Singh and CFO Peter Clifford will present at Baird’s 2021 Global Industrial Conference on November 10, 2021, at 12:50 p.m. ET. The presentation will be streamed live on the Company’s investor relations website, where a replay will also be available post-event. Recognized for its sustainable outdoor living products, AZEK emphasizes low-maintenance and eco-friendly solutions, utilizing up to 100% recycled materials. The company, based in Chicago, operates manufacturing facilities in multiple states.
The AZEK Company (NYSE: AZEK) will release its fiscal fourth quarter and full year 2021 results on November 18, 2021, prior to market opening. A conference call is scheduled for 9:00 a.m. (CT) the same day to discuss the results. The call will be accessible via registration and through a webcast on their Investor Relations site. AZEK is recognized for its sustainable outdoor living products, made from up to 100% recycled material, and continues to innovate in the market. The company is headquartered in Chicago and operates several manufacturing facilities across the U.S.
TimberTech has partnered with Yardzen, an online landscape design platform, to provide homeowners with sustainable outdoor design solutions. This collaboration allows users to create custom outdoor spaces using TimberTech's eco-friendly decking products made from up to 80% recycled materials. Jesse Singh, CEO of The AZEK Company, emphasized the shared values of beautiful design and environmental sustainability. The partnership aims to enhance the outdoor living experience by making the design process more accessible and inspiring, integrating technology for optimal results.
AZEK Company and Weyerhaeuser are expanding their partnership to offer a broader range of low-maintenance and sustainable building products in Texas. This expansion includes TimberTech Outdoor Living and AZEK Exteriors products, available through Weyerhaeuser's Dallas and Houston distribution centers. Both companies emphasize quality, sustainability, and innovation in their offerings, which also come with industry-leading warranties. The partnership aims to enhance AZEK's market presence across the central United States.
The AZEK Company (NYSE: AZEK) has appointed Samara Toole as the new Chief Marketing Officer (CMO). With over 20 years of experience in marketing for home and lifestyle brands, Toole aims to enhance customer experience and brand visibility. CEO Jesse Singh emphasized her ability to understand customer needs and drive marketing strategies. AZEK is recognized for its environmentally sustainable outdoor living products made from 100% recycled materials. The company operates multiple manufacturing facilities and is committed to sustainability efforts.
The AZEK Company reported robust financial results for Q3 FY2021, with net sales climbing 46.4% to $327.5 million, driven by strong demand in both Residential and Commercial segments. Residential sales surged 51.2%, while Commercial rose 16.5%. Gross profit increased by 42.3% to $106.9 million, though gross profit margin slightly declined to 32.6%. Net income of $21.8 million marked a significant turnaround from a loss of $52.1 million last year. The company raised its full-year sales outlook to 28-30% growth, reaffirming confidence despite rising costs. Adjusted EBITDA is projected to grow 27-29%.
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