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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 announced Jon Skelly's appointment as Senior Vice President of Customer Experience, a newly created role aimed at enhancing customer relations. Previously, Skelly served as Senior Vice President of Strategy and Execution and has been with AZEK since January 2018. CEO Jesse Singh praised Skelly’s contributions to the company, including involvement in the IPO and recent acquisitions. Additionally, Peter Clifford is named Chief Financial Officer, overseeing corporate development, supported by Jim Harrington, who takes on expanded strategy responsibilities.
The AZEK Company Inc. (NYSE: AZEK) will disclose its fiscal Q3 2021 results on August 12, 2021, before market opening. A conference call hosted by the company is scheduled for 9:00 a.m. (CT) on the same day to discuss these results. Investors can participate by registering in advance through a provided link. The AZEK Company, renowned for sustainable outdoor living products, aims to enhance the use of recycled materials in manufacturing, helping to divert waste from landfills. The company operates across multiple manufacturing sites in the U.S. including a new facility in Boise, Idaho.
The AZEK Company (NYSE: AZEK) appointed Peter Clifford as Senior Vice President and Chief Financial Officer, effective August 16, 2021. This transition follows Ralph Nicoletti's planned retirement, who will assist until September 30, 2021. Clifford, previously COO of Cantel Medical Corp., brings over 25 years of experience in manufacturing and finance. CEO Jesse Singh emphasized Clifford’s expertise in operations and executive management as vital for driving growth and margin expansion. AZEK is committed to sustainability, with products made from up to 100% recycled materials.
The AZEK Company (NYSE: AZEK) has achieved the +Vantage Vinyl certification, an initiative validating sustainability practices across the vinyl industry. This mark confirms AZEK's commitment to resource recovery, emissions reduction, and health & safety, verified by GreenCircle Certified. AZEK aims to integrate one billion pounds of recycled material annually by 2026 and has implemented board-level oversight for sustainability. The certification highlights AZEK's leadership in promoting sustainable practices within the industry, aligning with United Nations Sustainable Development Goals.
The AZEK Company announced the successful closing of an underwritten public offering of 17,250,000 shares of its Class A common stock at $43.50 per share. This total includes the full exercise of an option by underwriters for an additional 2,250,000 shares, sold by certain stockholders. Notably, AZEK did not receive any proceeds from this offering. The offering was managed by leading investment firms including Barclays and Goldman Sachs. This follows the effective registration statement by the SEC on May 26, 2021.
The AZEK Company (NYSE: AZEK), a leader in sustainable outdoor living products, announced its participation at the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 12:40 PM CT. CEO Jesse Singh and CFO Ralph Nicoletti will present at this event, which will be available for live streaming. A replay of the presentation will be accessible on the investor relations section of the AZEK website for 30 days. Known for products made from up to 100% recycled materials, AZEK is committed to innovation and sustainability in the industry.
The AZEK Company announced a public offering of 15,000,000 shares of Class A common stock at $43.50 per share, marketed by certain selling stockholders. The underwriters have a 30-day option to purchase an additional 2,250,000 shares. AZEK will not receive any proceeds from this offering, which is expected to close on June 1, 2021. Barclays, BofA Securities, Goldman Sachs, and Jefferies are acting as joint lead managers. The registration statement was declared effective by the SEC on May 26, 2021, and the offering is made via a prospectus.
The AZEK Company announced a public offering of 15,000,000 shares of Class A common stock, primarily by selling stockholders, with an option for underwriters to purchase an additional 2,250,000 shares. AZEK will not receive any proceeds from this sale, which is subject to market conditions. The offering is being managed by Barclays, BofA Securities, Goldman Sachs & Co. LLC, and Jefferies. A registration statement has been filed with the SEC but is not yet effective, meaning no sales can occur until it is approved.
The AZEK Company reported strong financial results for Q2 fiscal 2021, with net sales increasing by 19.4% to $293.1 million, driven by a 24.7% growth in the Residential segment. Gross profit rose 23.3% to $97.9 million, while net income surged to $22.7 million, up from $4.1 million a year earlier. The company raised its full-year guidance, anticipating consolidated net sales growth of 23% to 26% and Adjusted EBITDA growth of 25% to 29%, despite challenges from inflation and supply chain disruptions.
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