Welcome to our dedicated page for Azek Co news (Ticker: AZEK), a resource for investors and traders seeking the latest updates and insights on Azek Co stock.
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) announced that it will release its fiscal Q2 2023 results after market closure on May 4, 2023. A conference call is scheduled at 4:00 p.m. (CT) on the same day to discuss these results. Investors can register for the call online, and a replay will be available within two hours of the call, lasting until 10:59 p.m. (CT) on May 18, 2023.
AZEK is recognized for manufacturing low-maintenance, environmentally sustainable outdoor products, including TimberTech decking and AZEK Trim, with a commitment to using up to 90% recycled materials. The company has been lauded for its innovations in sustainability and quality, recently being named a Gamechanger in ESG.
The AZEK Company (NYSE: AZEK) has announced that two of its products, TimberTech Advanced PVC Decking and AZEK Exteriors Captivate Pre-finished Siding & Trim, have been named to Green Builder's 2023 Sustainable Products of the Year list. This recognition highlights AZEK's commitment to sustainability and innovation in outdoor living products.
TimberTech Advanced PVC Decking features approximately 60% recycled content, offering enhanced durability and environmental benefits. Similarly, the Captivate line integrates advanced technology for a low-maintenance exterior solution while being made from around 30% recycled PVC material. Both products are designed to minimize environmental impact and are recyclable at end-of-life through AZEK’s FULL-CIRCLE Recycling program.
The AZEK Company (NYSE: AZEK), a leader in low-maintenance outdoor products, announced participation in two upcoming investor conferences. CFO Peter Clifford and President Jonathan Skelly will present at the Barclays 2023 Industrial Select Conference on February 22, 2023, at 11:30 am ET in Miami, FL, and at Citi's Global Industrial Tech and Mobility Conference on February 23, 2023, at 9:40 am ET. Both presentations will be broadcast live via the Company's website. AZEK is noted for its sustainable products, made from up to 90% recycled materials, and aims to revolutionize the outdoor living industry.
The AZEK Company reported its fiscal first quarter 2023 results, revealing consolidated net sales of $216.3 million, down 16.7% year-over-year, primarily due to a 33% decline in volume linked to channel inventory reductions. The net loss was $25.8 million, equating to an EPS of ($0.17), while adjusted EBITDA fell to $15.1 million from $58.5 million in the prior year. Despite these challenges, the company has completed its Residential channel inventory normalization and is optimistic about upcoming product launches and market opportunities. For full-year fiscal 2023, AZEK anticipates a 10% volume decline but expects adjusted EBITDA between $250 to $265 million.