Azek Co Inc Stock Price, News & Analysis

The AZEK Company Inc. (NYSE: AZEK) will release its fiscal third quarter 2022 results before the market opens on August 4, 2022. A conference call will follow at 9:00 a.m. (CT) to discuss the results. Investors can join the call by dialing 888-999-6096 or accessing a live webcast at the Company's Investor Relations website. A replay will be available two hours post-call until August 18, 2022. AZEK is known for its environmentally sustainable outdoor products, made from up to 90% recycled material, and is committed to enhancing the use of recycled materials in manufacturing.

The AZEK Company (NYSE: AZEK) announced an Investor Day scheduled for June 15, 2022, in New York City, starting at 8:30 a.m. ET. The event will feature presentations from CEO Jesse Singh and CFO Peter Clifford, followed by a Q&A session. Interested investment professionals can attend in person but must register due to limited space. A live webcast will also be available, with an archived version accessible after the event. AZEK is recognized for its sustainable outdoor living products, utilizing up to 100% recycled materials.

The AZEK Company Inc. (NYSE: AZEK) announced its participation in upcoming investor conferences, including the UBS Global Industrials and Transportation Conference on June 7, 2022, and the William Blair Growth Stock Conference on June 8, 2022. Key executives, including CFO Peter Clifford and CEO Jesse Singh, will present at these events. The presentations will be broadcast live via the company's website, where replays will also be available. AZEK is known for its sustainable outdoor living products made from recycled materials and is committed to improving environmental sustainability.

The AZEK Company (NYSE: AZEK) has entered an accelerated share repurchase agreement with JPMorgan to buy back $50 million of its Class A common stock. This program will utilize existing cash resources and initially involve the delivery of approximately 2.4 million shares. The final settlement is expected by July 2022, with share repurchase amounts based on the average price during the repurchase period. AZEK is committed to sustainable manufacturing practices, producing products from up to 100% recycled materials, enhancing shareholder value through stock buybacks.

The AZEK Company reported a strong second quarter for fiscal 2022, with consolidated net sales rising 35.2% year-over-year to $396.3 million. The residential segment saw a 33.6% increase, while net income surged 58.2% to $35.8 million. Adjusted EBITDA improved by 27.1% to $90.9 million. The company is raising its net sales outlook for fiscal 2022 to between $1.39 billion and $1.43 billion. In addition, AZEK announced a $400 million share repurchase program to enhance shareholder value.

The AZEK Company Inc. has announced the promotions of Jon Skelly to President of its Residential business and Morgan Fox Walbridge to Senior VP and Chief Legal Officer. Skelly succeeds Joe Ochoa, retiring on July 1, 2022, while Walbridge takes over for Paul Kardish, retiring on June 1, 2022. Both outgoing leaders will remain as advisors. AZEK's CEO, Jesse Singh, praised the contributions of the retirees and expressed enthusiasm for the newly appointed leaders, highlighting their extensive experience and vital roles in driving the company's growth and sustainability initiatives.

The AZEK Company (NYSE: AZEK) has successfully entered into a new first lien term loan credit agreement, securing a $600 million credit facility due in April 2029. This refinancing replaces its existing loan due in May 2024, enhancing the company's financial position and liquidity. The credit facility will amortize quarterly starting December 31, 2022, and carries a variable interest rate based on Term SOFR plus 2.50%. S&P Global Ratings has upgraded AZEK's corporate credit rating to BB-, reflecting positive market recognition of its growth strategy.