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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, a leading manufacturer of outdoor living products, announced its participation in the Baird 2024 Global Industrial Conference. Jonathan Skelly, President of Residential and Commercial, will present on Tuesday, November 12, 2024, at 7:55am CT in Chicago. The presentation will be broadcast live through the company's website, with replay available afterward.
Interested parties can access the presentation through investors.azekco.com, and should register at least 15 minutes before the broadcast to download necessary audio software. AZEK is known for products including TimberTech® Decking and Railing, Versatex® and AZEK Trim®, and StruXure® pergolas.
The AZEK Company Inc. (NYSE: AZEK) has appointed Rakesh Mohan as its new Chief Digital & Technology Officer (CDTO). As a member of AZEK's leadership team, Mohan will lead the advancement of the Company's technology capabilities, driving value and innovation through the development and execution of a forward-thinking digital and IT strategy.
Mohan brings over 25 years of experience in digital transformation, leading strategic technology initiatives to optimize manufacturing processes and enhance the consumer journey. His most recent role was Chief Information Officer and Vice President, IT of Home Comfort Solutions at Lennox International, where he transformed supply chain systems, implemented an IT operating model, and led omni-channel digital initiatives to improve the customer journey.
TimberTech Advanced PVC Decking's Vintage Collection® has been awarded Good Housekeeping's 2025 Home Reno Award in the Sustainability Innovators category. Manufactured by The AZEK Company Inc. (NYSE: AZEK), this decking solution combines style, performance, and sustainability. Key features include:
- Resistance to fading, staining, and scratching
- Made with approximately 60% recycled content
- Class A Flame Spread Rating and WUI Compliance
- Ignition Resistant designation for fire safety
- Made in the USA
The collection offers a more eco-friendly alternative to traditional wood while maintaining a natural wood-like appearance. AZEK's Chief Marketing Officer, Sam Toole, emphasized the product's durability, low maintenance, and aesthetic appeal, stating it allows outdoor spaces to remain beautiful for decades.
The AZEK Company Inc. (NYSE: AZEK) has announced a significant refinancing move, entering into a new credit agreement with Wells Fargo Bank and other financial institutions. The agreement provides AZEK with an $815 million credit facility, comprising a $440 million first lien term loan and a $375 million first lien revolving credit facility.
This refinancing initiative has resulted in several key benefits for AZEK:
- Reduction of approximately $150 million in funded debt from the balance sheet
- Lower interest rates
- Improved financial flexibility
Peter Clifford, AZEK's Chief Operations Officer and CFO, emphasized that the favorable terms of this transaction reflect market confidence in the company's progress and growth strategy. AZEK plans to leverage its strengthened financial position and strong free cash flow to invest in growth opportunities and expand market share.
The AZEK Company has released its 2023 FULL-CIRCLE Report, highlighting its sustainability performance and progress. The report focuses on AZEK's commitment to creating a more sustainable future through innovative product solutions, recycling initiatives, and social responsibility.
Key achievements include:
- Repurposed 420 million pounds of waste and scrap into product manufacturing
- Achieved a 44% reduction in total carbon intensity since 2019
- Expanded the FULL-CIRCLE PVC Recycling program to 1,200+ bins across the US
- Increased employee engagement score to 79 out of 100
- Launched three new Employee Resource Groups
- Achieved zero waste to landfill certification for the TimberTech Championship
AZEK aims to integrate one billion pounds of recycled waste annually into its manufacturing processes, create positive impact for stakeholders, and reduce its carbon footprint across its value chain.
The AZEK Company Inc. (NYSE: AZEK), a leading manufacturer of outdoor living products, has announced its participation in two upcoming investor conferences. Management will attend the Jefferies Industrials Conference on September 4, 2024, in New York, with a presentation scheduled for 3:40pm ET. Peter Clifford, SVP, Chief Operations Officer & Chief Financial Officer, and Jonathan Skelly, President of Residential and Commercial, will represent the company.
Additionally, Jesse Singh, President and CEO, will participate in the Zelman Housing Summit on September 12, 2024, also in New York. The Jefferies conference presentation will be broadcast live on AZEK's website, with a replay available afterward. Investors can access more information and the latest investor presentation at investors.azekco.com.
The AZEK Company (NYSE: AZEK) has announced a $50 million accelerated share repurchase (ASR) program. The company, known for manufacturing sustainable outdoor living products, will fund the repurchase with cash on hand. Under the agreement with JPMorgan Chase Bank:
- AZEK will initially receive about 1 million shares of Class A common stock
- Final settlement is scheduled for November 2024
- The final number of shares repurchased will be based on AZEK's average daily volume-weighted share price during the repurchase period
- The agreement includes provisions for potential additional share deliveries or cash/share payments at settlement
This move demonstrates AZEK's confidence in its financial position and commitment to enhancing shareholder value.
The AZEK Company announced its third-quarter and year-to-date fiscal 2024 results, highlighting substantial growth and profitability. Consolidated net sales increased by 12% to $434.4 million, with the Residential segment seeing an 18% rise to $416.0 million. The company's net income surged 45% to $50.1 million, while adjusted net income grew 38% to $62.0 million. The gross profit margin expanded by 380 basis points to 37.8%, and the adjusted EBITDA margin improved by 260 basis points to 27.5%. The company generated $195 million in cash from operating activities and announced a new $600 million share repurchase program. AZEK reaffirmed its second-half fiscal 2024 outlook and raised the lower end of its full-year guidance, expecting net sales between $1.422 and $1.438 billion and adjusted EBITDA between $370 and $380 million.
The AZEK Company Inc. (NYSE: AZEK) has announced a long-term distribution partnership with Doman Building Materials Group (TSX: DBM) to expand the availability of TimberTech decking products across Canada. This strategic collaboration, effective January 1, 2025, aligns with AZEK's goal to increase its market presence and offer environmentally sustainable decking solutions to Canadian customers.
TimberTech decking is known for its premium aesthetics, innovative technology, and top-rated fire resistance. Made from up to 85% recycled waste and scrap material, it exemplifies AZEK's commitment to sustainability. Doman's extensive distribution network and industry expertise make them an ideal partner for AZEK, building on their existing relationship in both the U.S. and Canada.
The AZEK Company Inc. (NYSE: AZEK), a leading manufacturer of sustainable outdoor living products, has announced its fiscal third quarter 2024 earnings release and investor conference call scheduled for August 7, 2024. The company will release results after market close and hold a conference call at 4:00 p.m. (CT). Investors can register for the call in advance or listen to a live webcast on AZEK's Investor Relations website. A replay will be available until August 20, 2024.
AZEK specializes in TimberTech® decking, Versatex® trim, and StruXure® pergolas, using up to 85% recycled materials. The company has been recognized for innovation, quality, and sustainability, recently named one of America's Climate Leaders by USA Today and a Top Workplace by the Chicago Tribune and U.S. News and World Report.
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