Azek Co Inc Stock Price, News & Analysis

The AZEK Company (NYSE: AZEK), a leader in low-maintenance outdoor products, announced participation in two upcoming investor conferences. CFO Peter Clifford and President Jonathan Skelly will present at the Barclays 2023 Industrial Select Conference on February 22, 2023, at 11:30 am ET in Miami, FL, and at Citi's Global Industrial Tech and Mobility Conference on February 23, 2023, at 9:40 am ET. Both presentations will be broadcast live via the Company's website. AZEK is noted for its sustainable products, made from up to 90% recycled materials, and aims to revolutionize the outdoor living industry.

The AZEK Company reported its fiscal first quarter 2023 results, revealing consolidated net sales of $216.3 million, down 16.7% year-over-year, primarily due to a 33% decline in volume linked to channel inventory reductions. The net loss was $25.8 million, equating to an EPS of ($0.17), while adjusted EBITDA fell to $15.1 million from $58.5 million in the prior year. Despite these challenges, the company has completed its Residential channel inventory normalization and is optimistic about upcoming product launches and market opportunities. For full-year fiscal 2023, AZEK anticipates a 10% volume decline but expects adjusted EBITDA between $250 to $265 million.

The AZEK Company (NYSE: AZEK) will release its fiscal Q1 2023 results on February 8, 2023, after market close. A conference call is scheduled for the same day at 4:00 p.m. CT to discuss the results. Interested parties can register for the call or listen to a live webcast via the company's Investor Relations website. A replay will be available two hours post-call until February 22, 2023. As an industry leader, AZEK is recognized for its sustainable outdoor living products, with a commitment to recycled materials, keeping millions of pounds from landfills annually.

The AZEK Company (NYSE: AZEK) and thredUP (NASDAQ: TDUP) have announced a partnership to recycle thredUP’s post-consumer plastic Clean Out Bags into new TimberTech composite decking. This initiative supports both companies' ESG goals and aims to recycle one billion pounds of material annually by 2026. The partnership highlights AZEK's commitment to sustainability, having recycled nearly 1.7 billion pounds of waste since 2019. The new decking products will be made from approximately 85% recycled material, promoting environmental responsibility in outdoor living products.

The AZEK Company reported a 15% increase in net sales for fiscal 2022, totaling $1.36 billion. However, the fourth quarter faced a net loss of $4.8 million, reflecting a decrease in sales of 12% year-over-year at $304.6 million. Adjusted EBITDA was $65.1 million, down from $81.5 million for the same quarter last year. The company anticipates a 10% volume decline in fiscal 2023, projecting Adjusted EBITDA between $250 million and $265 million. AZEK has returned $81 million to shareholders through share repurchases.

The AZEK Company Inc. (NYSE: AZEK) will present at three investor conferences in December 2022. CEO Jesse Singh and CFO Peter Clifford will represent the firm at the Credit Suisse 10th Annual Global Industrials Conference on December 1 in Palm Beach, FL, followed by the 4th Annual Truist Securities Industrials and Services Summit on December 6 in New York, and the BMO 2022 Growth & ESG Conference virtually on December 7. The Credit Suisse presentation will be live-streamed on the company's website.

The AZEK Company (NYSE: AZEK) has been recognized with multiple prestigious awards for its innovative products. The Captivate Prefinished Siding & Trim won the HBSDealer Golden Hammer Award, highlighting its moisture and rot-resistant features. Also, the TimberTech Landmark Collection in French White Oak was honored as the Popular Choice Winner in the Sustainable Design category at the Architizer A+Product Awards. Both awards emphasize AZEK’s commitment to environmentally sustainable outdoor products designed to enhance aesthetic appeal and contractor productivity.