Azek reports Q2 adjusted EPS 45c, consensus 44c

Reports Q2 revenue $452.2M, consensus $444.75M. “The AZEK (AZEK) team delivered another strong quarter, executing well in a dynamic market and once again outperforming the broader repair and remodel sector,” said Jesse Singh, CEO of The AZEK Company. “Our Residential business delivered 9% growth year-over-year, driven by positive mid-single-digit Residential sell-through growth along with continued expansion of our channel presence and new product launches. Our disciplined approach to cost savings initiatives enabled us to expand our net profit margin by 10 basis points year-over-year to 12.0% and Adjusted EBITDA margin by 40 basis points year-over-year to 27.5%, even as we invested in marketing, new production and recycling capabilities. Our focus on driving growth through material conversion, product innovation, improving the consumer journey, brand and channel expansion is enabling our success and market outperformance. Combined with our disciplined cost initiatives and operational excellence, this underpins our ability to deliver strong results and margin expansion, and further demonstrates the resiliency of our business model, product categories and the strength of our team,” continued Mr. Singh.