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.
This page archives news coverage for The AZEK Company Inc. (AZEK), a former building products manufacturer specializing in cellular PVC decking, trim, and exterior materials. AZEK was acquired following stockholder approval and no longer operates as an independent publicly traded company. This archive provides context on the company's history and the events surrounding its acquisition.
Historical news coverage for AZEK tracked quarterly earnings announcements, product line expansions, manufacturing facility developments, and distribution partnership announcements. The company's news flow typically included updates on market conditions in the residential construction and home improvement sectors, which directly impacted demand for AZEK's low-maintenance building products.
During its time as a public company, AZEK generated news around acquisitions that expanded its product portfolio, strategic initiatives in sustainability and recycled materials usage, and competitive positioning against both traditional wood materials and synthetic alternatives in the premium decking market. Coverage also included executive appointments, analyst commentary on the building products industry, and the company's participation in investor conferences.
The final news items in this archive document the transaction approval process and regulatory filings that led to AZEK's delisting from the New York Stock Exchange and deregistration from SEC reporting requirements. This historical archive allows investors to understand the company's business evolution and the circumstances of its transition from public to private ownership.
The AZEK Company Inc. (NYSE: AZEK), a leading manufacturer of sustainable outdoor living products, has announced its fiscal third quarter 2024 earnings release and investor conference call scheduled for August 7, 2024. The company will release results after market close and hold a conference call at 4:00 p.m. (CT). Investors can register for the call in advance or listen to a live webcast on AZEK's Investor Relations website. A replay will be available until August 20, 2024.
AZEK specializes in TimberTech® decking, Versatex® trim, and StruXure® pergolas, using up to 85% recycled materials. The company has been recognized for innovation, quality, and sustainability, recently named one of America's Climate Leaders by USA Today and a Top Workplace by the Chicago Tribune and U.S. News and World Report.
The AZEK Company (NYSE: AZEK) has announced a $50 million accelerated share repurchase (ASR) program in collaboration with Goldman Sachs. This initiative aims to buy back Class A common stock using company cash reserves. Initially, AZEK will receive around 0.9 million shares, with the final settlement due by August 2024. The final share count will depend on the average daily volume-weighted price during the repurchase period. Post-ASR, AZEK will have $625 million remaining in its repurchase program. The agreement includes standard terms for adjustments, acceleration, extension, or termination.
The AZEK Company (NYSE: AZEK), a leader in low-maintenance and environmentally sustainable outdoor living products, announced a new $600 million share repurchase program. This authorization is in addition to the approximately $75 million remaining from the prior repurchase authorization. The company may buy back shares through various methods, including open market transactions and privately negotiated deals, depending on market conditions. The timing and continuation of repurchases are flexible and subject to change based on market and business conditions.
The AZEK Company (NYSE: AZEK) announced it received a non-compliance notice from the NYSE on May 16, 2024, for not timely filing its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024. The company expects to file the Form 10-Q within 30 days. According to the NYSE Notice, AZEK has six months from May 15, 2024, to regain compliance by filing the Form 10-Q. The NYSE may grant up to an additional six-month extension if necessary. The company's failure to file on time is due to the need to complete restated consolidated financial statements for fiscal years 2021-2023 and the interim periods within those years. AZEK's stock listing on the NYSE remains unaffected for now, but delisting proceedings may commence if the company fails to meet compliance requirements.
The AZEK Company Inc. (NYSE: AZEK) announced strong second-quarter performance driven by residential segment execution, increasing brand momentum, and margin expansion initiatives. Preliminary financial results show consolidated net sales of $418.4 million, representing 11% YoY growth, and raising fiscal 2024 outlook to $1.407-$1.438 billion in net sales and $364-$380 million in Adjusted EBITDA. CEO Jesse Singh highlighted double-digit net sales growth, strong margin expansion, and new product innovations.
The AZEK Company Inc. (NYSE: AZEK) announced its participation in upcoming investor conferences such as J.P. Morgan 2024 Homebuilding and Building Products Conference, BofA Securities Housing Symposium 2024, Baird 2024 Global Consumer, Technology & Services Conference, and William Blair 44th Annual Growth Stock Conference. Management executives will present at these events to discuss the company's strategies and future prospects.
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