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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 reported strong third-quarter results for fiscal 2022, with consolidated net sales increasing 20.6% year-over-year to $395.0 million. Net income rose 26.2% to $27.5 million, and adjusted EBITDA grew 19.0% to $86.5 million. Notably, the company announced the acquisition of INTEX Millwork Solutions, enhancing its product portfolio. AZEK plans to return $58 million to shareholders via share repurchases. For fiscal 2022, AZEK expects net sales between $1.327 billion and $1.353 billion, and adjusted EBITDA between $295 million and $307 million, reflecting ongoing growth initiatives.
The AZEK Company, a leader in sustainable outdoor living products, announced its participation in the Jefferies Industrials Conference on August 9, 2022, and Barclays Select Series on August 10, 2022, both held in New York, NY. CEO Jesse Singh and CFO Peter Clifford will present at these events. The Jefferies conference will be broadcast live on the company’s investor website. AZEK emphasizes its commitment to environmentally sustainable practices, with products made from up to 90% recycled materials, aiming to reduce landfill waste while offering innovative outdoor solutions.
The AZEK Company Inc. (NYSE: AZEK) will release its fiscal third quarter 2022 results before the market opens on August 4, 2022. A conference call will follow at 9:00 a.m. (CT) to discuss the results. Investors can join the call by dialing 888-999-6096 or accessing a live webcast at the Company's Investor Relations website. A replay will be available two hours post-call until August 18, 2022. AZEK is known for its environmentally sustainable outdoor products, made from up to 90% recycled material, and is committed to enhancing the use of recycled materials in manufacturing.
The AZEK Company (NYSE: AZEK) announced an Investor Day scheduled for June 15, 2022, in New York City, starting at 8:30 a.m. ET. The event will feature presentations from CEO Jesse Singh and CFO Peter Clifford, followed by a Q&A session. Interested investment professionals can attend in person but must register due to limited space. A live webcast will also be available, with an archived version accessible after the event. AZEK is recognized for its sustainable outdoor living products, utilizing up to 100% recycled materials.
The AZEK Company Inc. (NYSE: AZEK) announced its participation in upcoming investor conferences, including the UBS Global Industrials and Transportation Conference on June 7, 2022, and the William Blair Growth Stock Conference on June 8, 2022. Key executives, including CFO Peter Clifford and CEO Jesse Singh, will present at these events. The presentations will be broadcast live via the company's website, where replays will also be available. AZEK is known for its sustainable outdoor living products made from recycled materials and is committed to improving environmental sustainability.
The AZEK Company (NYSE: AZEK) has entered an accelerated share repurchase agreement with JPMorgan to buy back $50 million of its Class A common stock. This program will utilize existing cash resources and initially involve the delivery of approximately 2.4 million shares. The final settlement is expected by July 2022, with share repurchase amounts based on the average price during the repurchase period. AZEK is committed to sustainable manufacturing practices, producing products from up to 100% recycled materials, enhancing shareholder value through stock buybacks.
The AZEK Company reported a strong second quarter for fiscal 2022, with consolidated net sales rising 35.2% year-over-year to $396.3 million. The residential segment saw a 33.6% increase, while net income surged 58.2% to $35.8 million. Adjusted EBITDA improved by 27.1% to $90.9 million. The company is raising its net sales outlook for fiscal 2022 to between $1.39 billion and $1.43 billion. In addition, AZEK announced a $400 million share repurchase program to enhance shareholder value.
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