Azek reports Q3 adjusted EPS 30c, consensus 25c

Reports Q3 revenue $387.6M, consensus $372.55M. “The AZEK team delivered financial results ahead of expectations driven by continued execution of our growth and productivity initiatives, operational performance and double-digit Residential sell-through growth. During the quarter, we continued our focus on growth through new products, material conversion and customer expansion, and drove significant margin expansion through operational excellence, sourcing savings and recycling initiatives. Year-over-year, we delivered double-digit net income and Adjusted EBITDA growth, and expanded net profit margin and Adjusted EBITDA Margin by 200 basis points and 310 basis points, respectively. We also continued to see benefits from our increased focus on cash conversion and generated significant operating cash flow of $166.9 million and Free Cash Flow of $160.1 million, each growing $33.7 million and $52.4 million year-over-year, respectively. I would once again like to thank the entire AZEK team and our partners that support The AZEK Company,” said Jesse Singh, AZEK’s CEO. “AZEK’s results this quarter demonstrate the strength and resiliency of our business model and our team’s focus on operational execution to drive above-market growth and margin expansion across any market conditions,” continued Mr. Singh.