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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 an alliance with DTG Recycle to expand its FULL-CIRCLE PVC Recycling Program. This partnership aims to enhance sustainability by collecting PVC-based construction and demolition debris for recycling. AZEK's goal is to recycle one billion pounds of waste annually by 2026. The alliance will address the challenge of recycling PVC waste, creating an open-loop recycling solution and supporting environmental goals in the Pacific Northwest. This initiative is expected to significantly improve recycling capabilities and provide new sustainable markets for PVC materials.
The AZEK Company has appointed Chris Latkovic as Senior Vice President of Operations, succeeding Bobby Gentile, who will retire this summer. Latkovic will lead AZEK's capital investment plan aimed at expanding manufacturing capacities and recycling capabilities, including a new facility in Boise, Idaho. He aims to incorporate 1 billion pounds of waste into products by 2026. AZEK has consistently achieved double-digit growth and is well-positioned for continued success. Latkovic brings over 30 years of experience in operations management.
The AZEK Company (NYSE: AZEK) announced its participation in two investor conferences: Citi 2022 Global Industrial Tech and Mobility Conference on February 22, 2022, and Barclays Industrial Select Conference on February 23, 2022. CEO Jesse Singh and CFO Peter Clifford will represent the company at the events. Both presentations will be broadcast live on the Company’s website, with replays available afterward. AZEK is known for producing sustainable outdoor living products, focusing on innovation and recycling. For more details, visit investors.azekco.com.
AZEK reported a strong start to fiscal 2022 with net sales up 22.3% to $259.7 million. The Residential segment grew 19.1% to $221.1 million, while net income rose by $6.6 million to $16.7 million. Adjusted EBITDA increased by $10.1 million to $58.5 million, showing robust operational performance. AZEK's outlook for fiscal 2022 anticipates net sales growth of 17% to 21% and adjusted EBITDA growth of 18% to 22%. The successful acquisition of StruXure enhances product offerings and supports growth targets.
The AZEK Company (NYSE: AZEK) announced it will release its fiscal Q1 2022 results on February 3, 2022, before market open. The company will host a conference call at 9:00 a.m. (CT) that day. Investors can register for the call in advance through a provided link or listen via the company's Investor Relations webpage. A replay of the call will be available two hours after conclusion until February 17, 2022. AZEK is known for its environmentally sustainable outdoor products, utilizing up to 100% recycled materials and operating manufacturing facilities in multiple states, including a new site in Boise, Idaho.
The AZEK Company has announced its acquisition of StruXure Outdoor, Inc. to enhance its leadership in the outdoor living market. This strategic move targets the nearly $1 billion market for pergolas and cabanas, complementing AZEK's existing product lines such as TimberTech. StruXure generated approximately $50 million in net sales in 2021. The acquisition aims to drive synergies, expand customer segments, and leverage AZEK's material expertise to accelerate growth. StruXure is expected to contribute around $40 million in revenue for the remainder of fiscal 2022.
The AZEK Company (NYSE: AZEK) has appointed Vernon J. Nagel and Natasha Li to its board of directors. Nagel, former CEO of Acuity Brands, brings extensive experience in driving profitable growth and market expansion. Li, a Partner at Ares Management, has significant knowledge of AZEK's history and operations. CEO Jesse Singh expressed enthusiasm about the new board members, emphasizing their potential to enhance the company's strategic vision. With this appointment, AZEK's board composition features over 25% women and more than 35% ethnic diversity.
The AZEK Company reported robust financial results for its fiscal fourth quarter and full year ended September 30, 2021. Net sales surged by 31.1% to a record $346.1 million, with net income increasing to $38.6 million. Adjusted EBITDA rose to $81.5 million, reflecting a $15.4 million increase year-over-year. For fiscal 2022, AZEK anticipates mid-teen net sales growth and high-teen growth in adjusted EBITDA. A fourth phase of capacity expansion aims to increase decking capacity by over 100% by the end of 2022.
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