The AZEK Company(US:AZEK)2023-11-29 03:07Financial Highlights - The company's Q4 2023 net sales increased to $388.8 million, compared to $304.6 million in Q4 2022[13] - Adjusted EBITDA for Q4 2023 was $106.4 million, a 63.4% increase year-over-year from $65.1 million in Q4 2022[13] - Adjusted diluted EPS for Q4 2023 was $0.36, a 118.7% increase year-over-year from $0.16 in Q4 2022[15] - The company generated $92 million in free cash flow in Q4 2023, an $83 million increase year-over-year[11] - For fiscal year 2023, the company generated $274 million of free cash flow, increasing $339 million year-over-year[9] Segment Performance - Residential segment net sales for Q4 2023 were $349.6 million, a 37.6% increase compared to $254.2 million in Q4 2022[16] - Residential segment adjusted EBITDA for Q4 2023 was $118.0 million, an 82.9% increase compared to $64.5 million in Q4 2022[16] - Commercial segment net sales for Q4 2023 were $39.2 million, a 22.4% decrease compared to $50.4 million in Q4 2022[18] - Commercial segment adjusted EBITDA for Q4 2023 was $9.2 million, a 36.5% decrease compared to $14.6 million in Q4 2022[18] Fiscal Year 2024 Outlook - The company expects net sales to be in the range of $1.335 billion to $1.395 billion for fiscal year 2024[22] - The company expects adjusted EBITDA to be in the range of $320 million to $335 million for fiscal year 2024[22]