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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) 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.
The AZEK Company (NYSE: AZEK) will release its fiscal Q1 2023 results on February 8, 2023, after market close. A conference call is scheduled for the same day at 4:00 p.m. CT to discuss the results. Interested parties can register for the call or listen to a live webcast via the company's Investor Relations website. A replay will be available two hours post-call until February 22, 2023. As an industry leader, AZEK is recognized for its sustainable outdoor living products, with a commitment to recycled materials, keeping millions of pounds from landfills annually.
The AZEK Company (NYSE: AZEK) and thredUP (NASDAQ: TDUP) have announced a partnership to recycle thredUP’s post-consumer plastic Clean Out Bags into new TimberTech composite decking. This initiative supports both companies' ESG goals and aims to recycle one billion pounds of material annually by 2026. The partnership highlights AZEK's commitment to sustainability, having recycled nearly 1.7 billion pounds of waste since 2019. The new decking products will be made from approximately 85% recycled material, promoting environmental responsibility in outdoor living products.
The AZEK Company reported a 15% increase in net sales for fiscal 2022, totaling $1.36 billion. However, the fourth quarter faced a net loss of $4.8 million, reflecting a decrease in sales of 12% year-over-year at $304.6 million. Adjusted EBITDA was $65.1 million, down from $81.5 million for the same quarter last year. The company anticipates a 10% volume decline in fiscal 2023, projecting Adjusted EBITDA between $250 million and $265 million. AZEK has returned $81 million to shareholders through share repurchases.
The AZEK Company Inc. (NYSE: AZEK) will present at three investor conferences in December 2022. CEO Jesse Singh and CFO Peter Clifford will represent the firm at the Credit Suisse 10th Annual Global Industrials Conference on December 1 in Palm Beach, FL, followed by the 4th Annual Truist Securities Industrials and Services Summit on December 6 in New York, and the BMO 2022 Growth & ESG Conference virtually on December 7. The Credit Suisse presentation will be live-streamed on the company's website.
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