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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 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.
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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.
The AZEK Company (NYSE: AZEK) has announced a new range of products from its TimberTech and StruXure brands, including outdoor furniture, decking colors, and a new cabana model, set to debut in 2023. These products emphasize sustainability and low maintenance. They will be showcased at the TimberTech Championship in Boca Raton, Florida. The company continues its commitment to zero waste by recycling plastic bags into new decking materials. AZEK’s offerings utilize up to 90% recycled materials, supporting a more eco-friendly outdoor living solution.
The AZEK Company (NYSE: AZEK) will release its fiscal fourth quarter and full-year 2022 results on November 28, 2022, after market close. A conference call will follow at 4:00 p.m. CT to discuss these results. Investors can register for the call in advance and listen through the company's Investor Relations website. A replay will also be available two hours after the call. AZEK is a leader in manufacturing sustainable outdoor living products, with a commitment to using recycled materials in its offerings, which include TimberTech® decking and StruXure™ pergolas.
The AZEK Company (NYSE: AZEK), a leader in sustainable outdoor living products, announced that CEO Jesse Singh and CFO Peter Clifford will present at the Baird 2022 Global Industrial Conference on November 9, 2022, at 9:05 AM CT in Chicago. The presentation will be live-streamed and available for replay on the company’s investor relations webpage. AZEK specializes in innovative products made from up to 90% recycled material, focusing on eco-friendly solutions for outdoor spaces.
The AZEK Company (NYSE:AZEK) has inaugurated a 350,000 sq ft manufacturing facility in Boise, Idaho. This marks AZEK's first plant in the Western U.S. and supports their strategy to enhance production of environmentally sustainable products. The investment of approximately $140 million will create around 150 jobs in the area over two years. The facility emphasizes sustainability through advanced technologies and is expected to achieve LEED certification. This expansion aims to meet growing market demand for AZEK's low-maintenance outdoor products.
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The AZEK Company reported strong third-quarter results for fiscal 2022, with consolidated net sales increasing 20.6% year-over-year to $395.0 million. Net income rose 26.2% to $27.5 million, and adjusted EBITDA grew 19.0% to $86.5 million. Notably, the company announced the acquisition of INTEX Millwork Solutions, enhancing its product portfolio. AZEK plans to return $58 million to shareholders via share repurchases. For fiscal 2022, AZEK expects net sales between $1.327 billion and $1.353 billion, and adjusted EBITDA between $295 million and $307 million, reflecting ongoing growth initiatives.