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. (formerly NYSE: AZEK) generates frequent news as a designer and manufacturer of outdoor living and exterior building products that primarily replace wood on the outside of homes. Company news has focused on its TimberTech decking and railing, AZEK and Versatex trim, StruXure pergolas, and on its evolution as a plastics-based building products manufacturer within the Manufacturing sector.
Investors and observers following AZEK-related news will see coverage of corporate transactions, including the definitive agreement and completed merger under which James Hardie Industries plc acquired AZEK, resulting in AZEK becoming a wholly owned subsidiary and its common stock being delisted from the New York Stock Exchange. News also details portfolio changes such as the sale of the Commercial segment’s Scranton Products business to Sky Island Capital and earlier divestitures like Vycom.
Another major theme in AZEK news is sustainability and recycling. Releases highlight that AZEK’s products are made from up to 85% recycled material, its status as a large vertically integrated recycler of PVC in the United States, and acquisitions such as Northwest Polymers to expand recycling capabilities. News items describe the company’s FULL-CIRCLE PVC Recycling program and the Science Based Targets initiative’s validation of AZEK’s near-term greenhouse gas reduction targets.
Product and technology updates also feature prominently. AZEK has issued news about TimberTech Advanced PVC decking’s fire performance, including a controlled-environment comparison video demonstrating a Class A Flame Spread Rating for the Vintage Collection and superior resistance to ignition and flame spread compared to other decking materials. The company has launched digital resources for architects and designers focused on fire resistance, climate-adaptive design and wildfire resilience.
Historical AZEK news includes quarterly earnings releases, outlook updates and investor conference participation, which provide context on its Residential and Commercial segments, material conversion strategy and brand expansion. Although AZEK’s ticker AZEK is now delisted following the merger with James Hardie, this news archive remains a resource for understanding the company’s history, strategic priorities and product development over time.
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The AZEK Company (NYSE: AZEK) will release its fiscal second quarter 2021 results on May 13, 2021, prior to the market opening. A conference call is scheduled for the same day at 9:00 a.m. (CT) to discuss these results. Investors can register for the call via the provided link or listen to a webcast on the company's Investor Relations site. A replay of the call will be available two hours post-event. Recognized for its sustainable outdoor living products, AZEK operates in Illinois with additional facilities in Ohio, Pennsylvania, Minnesota, and a new site in Boise, Idaho.
The AZEK Company (NYSE: AZEK) has appointed Sandra Lamartine as its new Senior Vice President and Chief Human Resources Officer. Lamartine, with over 20 years of experience in organizational design and talent management, aims to enhance AZEK's workplace culture by focusing on values like sustainability and inclusion. She succeeds Dennis Kitchen, who is retiring but will remain as an HR Advisor during the transition. CEO Jesse Singh expressed confidence in Lamartine's leadership abilities to foster an engaged workforce at AZEK, known for products like TimberTech® decking.
The AZEK Company reported strong financial results for Q1 fiscal 2021, with net sales up 27.8% to $212.3 million, driven by a 36.8% increase in the Residential segment. Gross profit rose 42.3% to $73.0 million, reflecting improved margins. Net income turned positive at $10.2 million, compared to a net loss in the previous year, with adjusted EBITDA increasing 43.3% to $48.5 million. The company announced a target of using 1 billion pounds of recycled materials by 2026 and expects continued growth, raising its full-year sales guidance to 14%-18% year-over-year.
The AZEK Company (NYSE: AZEK) announces the launch of new products under its TimberTech brand, including the innovative TimberTech® AZEK® Landmark Collection™. This collection features capped polymer decking designed to resemble natural wood while providing superior durability and low maintenance. The TimberTech Landmark Collection introduces new colors, Castle Gate™ and American Walnut™, created with proprietary color-cascading technology. Additionally, new railing options will enhance existing lines. All products are crafted from synthetic materials with a commitment to sustainability, utilizing approximately 50% recycled materials.
The AZEK Company (NYSE: AZEK) has been awarded the 2021 Green Innovation of the Year by Green Builder Media for its FULL-CIRCLE PVC Recycling Program. This initiative targets the collection and recycling of scrap PVC directly from dealers, contractors, and mill shops, addressing long-standing challenges in PVC waste disposal.
FULL-CIRCLE leverages a network of partners to recycle materials efficiently, aligning with AZEK's commitment to sustainability. AZEK's products incorporate recycled materials, with some being recyclable post-use, reinforcing its dedication to environmental stewardship.
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The AZEK Company Inc. (NYSE: AZEK) has successfully completed a public offering of 23 million shares of its Class A common stock, with an exercise of an option for 3 million additional shares at a public price of $40.00 each. Notably, the company did not receive any proceeds from this offering, as the shares were sold by existing stockholders. Major financial institutions, including Barclays and BofA Securities, acted as underwriters for the offering.
The AZEK Company Inc. (NYSE: AZEK) has announced a public offering of 20,000,000 shares of its Class A common stock at $40.00 per share, offered by certain selling stockholders. The underwriters have a 30-day option to purchase an additional 3,000,000 shares. AZEK will not receive any proceeds from this sale. The offering is expected to close on January 26, 2021, pending customary conditions. Major financial institutions involved include Barclays, BofA Securities, Goldman Sachs, and Jefferies. A registration statement for the offering was declared effective on January 21, 2021.
AZEK has announced preliminary financial results for Q1 fiscal 2021, indicating significant revenue growth. Estimated revenue is projected between $200 million and $210 million, a notable increase from $158 million in Q1 2020. The Company remains cautious, emphasizing these estimates are subject to change and not audited. Management noted that ongoing financial procedures may alter these figures, aligning with historical growth trends and market expectations.