AZEK Company Inc ( (AZEK) ) has released its Q1 earnings. Here is a breakdown of the information AZEK Company Inc presented to its investors.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
The AZEK Company Inc., headquartered in Chicago, Illinois, is a leading manufacturer of sustainable outdoor living products, such as decking, railing, and trim, made from recycled materials, primarily replacing wood to offer eco-friendly solutions.
In its latest earnings release, AZEK reported record fiscal year residential net sales, net income, and adjusted EBITDA for 2024. The company saw a high-single-digit residential sell-through growth in the fourth quarter despite a challenging market environment.
The company’s fourth-quarter results included consolidated net sales of $348.2 million, with a significant contribution from its residential segment. The fiscal year saw a 5% increase in consolidated net sales to $1.44 billion, with residential segment sales up by 12%. This growth was driven by strategic initiatives and product innovations, and the company returned $243 million to shareholders through share repurchases.
Looking forward, AZEK anticipates continued growth in 2025, expecting consolidated net sales between $1.51 and $1.54 billion, representing a 5% to 7% year-over-year increase. The company remains optimistic about its ability to outperform the market through focused initiatives and new product innovations.
