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The AZEK Company Inc. reported on outdoor living products, recycled-material supply, and corporate transactions tied to its former public-company status. Its product news centered on TimberTech Decking and Railing, AZEK and Versatex Trim, StruXure pergolas, fire-resistance performance, and design resources for building-material applications.
Recurring developments also covered sustainability targets, the FULL-CIRCLE PVC Recycling program, the acquisition of Northwest Polymers, and the completed sale of the Scranton Products business from the Commercial segment. Corporate news included operating results, capital-structure disclosures, shareholder voting matters, material agreements, and the completed merger that made AZEK a wholly owned subsidiary of James Hardie Industries plc.
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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