The AZEK Company (AZEK) reported $348.23 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 10.4%. EPS of $0.29 for the same period compares to $0.36 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $336.58 million, representing a surprise of +3.46%. The company delivered an EPS surprise of +11.54%, with the consensus EPS estimate being $0.26.While investors closely watch year-over-year changes in headline numbers -- revenue and earni ...

The AZEK Company (AZEK) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.54%. A quarter ago, it was expected that this company would post earnings of $0.36 per share when it actually produced earnings of $0.42, delivering a surprise of 16.67%.Over the last four quarters, the company ...

Financial Performance - Consolidated net sales for fiscal year 2024 increased by 5% year-over-year to $1.44 billion, with residential segment net sales growing 12% to $1.37 billion[3] - Net income for fiscal year 2024 rose 146% to $153 million, with a net profit margin expansion of 600 basis points to 10.6%[3] - Adjusted EBITDA for fiscal year 2024 increased by 34% to $379 million, with an adjusted EBITDA margin expansion of 560 basis points to 26.3%[3] - The company generated $224 million in cash from operating activities and $147 million in free cash flow for fiscal year 2024[3] - Net income for the three months ended September 30, 2024, was $28,363, down 27.8% from $39,231 in the same period of 2023[52] - Adjusted Net Income for the year ended September 30, 2024, was $176,929,000, compared to $106,139,000 in 2023, reflecting a 66.4% increase[66] - The company reported a net income of $153,379 thousand for the year ended September 30, 2024[76] Future Projections - For fiscal year 2025, consolidated net sales are expected to be between $1.51 billion and $1.54 billion, representing a growth of approximately 5% to 7% year-over-year[4] - The residential segment is projected to achieve net sales between $1.439 billion and $1.466 billion in fiscal year 2025, indicating a growth of approximately 5% to 7% year-over-year[30] - The company expects adjusted EBITDA for fiscal year 2025 to be in the range of $400 million to $415 million, representing a year-over-year increase of 5% to 9%[31] - For the first quarter of fiscal year 2025, consolidated net sales are anticipated to be between $260 million and $266 million, reflecting an 8% to 11% year-over-year growth[32] - The company anticipates driving above-market growth in fiscal year 2025 and achieving double-digit growth over the long term[33] Cash Flow and Assets - As of September 30, 2024, total assets decreased to $2,167.7 million from $2,343.9 million as of September 30, 2023, reflecting a decline of approximately 7.4%[49] - Current assets decreased to $471.4 million from $561.3 million, a reduction of about 16.0% year-over-year[49] - Total liabilities decreased to $810.8 million from $933.6 million, representing a decline of approximately 13.1%[49] - The company reported a net cash position of $164.0 million in cash and cash equivalents, down from $278.3 million[49] - Net cash provided by operating activities for the year ended September 30, 2024, was $224,479, a decrease from $362,542 in 2023[54] - Net cash used in financing activities for the year ended September 30, 2024, was $(387,907), compared to $(116,541) in the previous year[54] - Cash and cash equivalents at the end of the period were $164,025, a decrease from $278,314 at the beginning of the period[54] Segment Performance - Net sales for the three months ended September 30, 2024, were $348,227, a decrease of 10.5% from $388,812 in the same period of 2023[52] - Gross profit for the three months ended September 30, 2024, was $129,746, down from $145,293, representing a decline of 10.7%[52] - Operating income for the three months ended September 30, 2024, was $51,133, compared to $60,371 in the prior year, reflecting a decrease of 15.3%[52] - Segment Adjusted EBITDA for the Residential segment for the three months ended September 30, 2024, was $85,943, a decrease of 7.3% from $92,706 in the prior year[57] Adjusted Metrics - Adjusted EBITDA for the year ended September 30, 2024, reached $379,341,000, up 33.6% from $283,838,000 in 2023[62] - Adjusted Gross Profit for Q3 2024 was $133,702,000, down 10.7% from $149,736,000 in Q3 2023[64] - Adjusted SG&A expenses for Q3 2024 were $65,539,000, a decrease from $70,517,000 in Q3 2023[72] - Adjusted Diluted EPS for Q3 2024 was $0.29, down from $0.33 in Q3 2023[68] - Total adjustments for Q3 2024 amounted to $63,391,000, representing 18.2% of total revenue[62] Sustainability and Operations - The AZEK Company is committed to increasing the use of recycled materials in its products, which are made from up to 85% recycled content[38] - The company has been recognized as one of America's Climate Leaders by USA Today, highlighting its commitment to sustainability[38] - AZEK's manufacturing and recycling facilities are located across multiple states, including Ohio, Pennsylvania, and Texas, enhancing its operational capacity[38] Stock and Financing Activities - AZEK repurchased approximately 1.4 million shares of its Class A common stock for a total of $67.5 million during the quarter[26] - Net cash used in financing activities for the three months ended September 30, 2024, was $(220,846) thousand, compared to $(58,475) thousand in the same period of 2023[75] - Purchases of property, plant, and equipment for the year ended September 30, 2024, were $(77,147) thousand, down from $(88,545) thousand in 2023[75] Interest and Debt - Interest expense for Q3 2024 was $15,800,000, increasing from $8,812,000 in Q3 2023[62] - Net debt as of September 30, 2024, was $365,110 thousand, calculated from gross debt of $529,135 thousand minus cash and cash equivalents of $164,025 thousand[76]

The AZEK Company Inc. (AZEK) is scheduled to report fourth-quarter fiscal 2024 results on Nov. 19, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, the company’s adjusted earnings and net sales topped the Zacks Consensus Estimate by 16.7% and 9.3%, respectively.The company’s earnings surpassed expectations in three of the trailing four quarters and met on one occasion, with an average surprise of 34.2%.AZEK’s Trend in Estimate Revi ...

Analysts on Wall Street project that The AZEK Company (AZEK) will announce quarterly earnings of $0.26 per share in its forthcoming report, representing a decline of 27.8% year over year. Revenues are projected to reach $336.58 million, declining 13.4% from the same quarter last year.The current level reflects a downward revision of 17.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial proj ...

The market expects The AZEK Company (AZEK) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be re ...

skynesher/E+ via Getty Images Synopsis The AZEK Company Inc. (NYSE:AZEK) is a leading designer and manufacturer of outdoor living products. Over the years, the firm has consistently grown, albeit with a slight decline in its profitability margin due to underutilized manufacturing capacity, higher SG&A costs, and rising interest expenses. This quarter, AZEK has reported a strong performance with substantial growth and profitability. Being constantly active with its product innovations and expansions, AZEK wo ...

13 August 2024 | 8:51PM EDT AZEK Company Inc. (AZEK): Notes from the Road Earlier today, we hosted investor meetings in Boston with Azek's CEO Jesse Singh, Residential Segment CFO Ryan Lada, and Head of IR Eric Robinson. Discussions focused on company-specific efforts to drive above-market growth along with the path for margins as it realizes operating leverage and a more favorable cost structure. Overall, we come away with greater confidence in the ability to continue to outperform, even as broader R&R rem ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _____________________________________________________________________________________________ FORM 10-Q _____________________________________________________________________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

THEAZEK, COMPANY 3 rd Quarter FY 2024 Earnings Presentation August 7, 2024 AZEK NYSE DISCLAIMER 2 Important Notice Non-GAAP Measures This presentation contains "forward-looking statements" within the meaning of federal securities laws, including the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding future operations are forward-looking statements ...