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AZEK
🇺🇸 NYSE:AZEK
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•
Dec 31, 2024

AZEK Q1 2025 Earnings Report

AZEK reported strong first quarter results, driven by double-digit residential sell-through growth and raised full-year fiscal 2025 net sales and adjusted EBITDA outlook.

Key Takeaways

AZEK announced its fiscal first quarter 2025 results, with consolidated net sales increasing by 19% year-over-year to $285.4 million. The company's Residential segment saw a 22% increase in net sales. Net income decreased by 28% year-over-year to $18.1 million, while Adjusted EBITDA increased by 20% year-over-year to $65.9 million.

Consolidated Net Sales increased 19% year-over-year to $285.4 million.

Residential Segment Net Sales increased 22% year-over-year to $272.0 million.

Adjusted EBITDA increased 20% year-over-year to $65.9 million.

The company raised its full-year fiscal 2025 net sales and Adjusted EBITDA outlook.

Total Revenue
$285M
Previous year: $240M
+18.7%
EPS
$0.17
Previous year: $0.1
+70.0%
Adjusted EBITDA
$65.9M
Previous year: $55.7M
+18.3%
Adjusted EBITDA Margin
23.1%
Previous year: 23.2%
-0.4%
Gross Profit
$104M
Previous year: $91.4M
+13.3%
Cash and Equivalents
$148M
Previous year: $275M
-46.1%
Free Cash Flow
-$8.03M
Previous year: -$34M
-76.4%
Total Assets
$2.17B
Previous year: $2.29B
-5.0%

AZEK

AZEK

AZEK Revenue by Segment

Forward Guidance

AZEK raised its full-year fiscal 2025 outlook, expecting consolidated net sales between $1.52 to $1.55 billion and Adjusted EBITDA in the range of $403 to $418 million.

Positive Outlook

  • Expecting consolidated net sales between $1.52 to $1.55 billion, representing approximately 5% to 8% year-over-year growth.
  • Adjusted EBITDA is expected to be in the range of $403 to $418 million, representing an increase of 6% to 10% year-over-year
  • Residential segment net sales in the range of $1.452 to $1.479 billion, representing approximately 6% to 8% year-over-year growth.
  • Segment Adjusted EBITDA in the range of $392 to $405 million, representing approximately 7% to 11% year-over-year growth.
  • Capital expenditures for fiscal year 2025 are expected to be in the range of $85 to $95 million.

Challenges Ahead

  • Planning assumptions continue to assume a relatively flat repair & remodel market.
  • Mid-single digit Residential sell-through growth for the remainder of the year.
  • Commercial segment’s Scranton Products business to deliver net sales in the range of $68 to $71 million, representing a 2% to 6% year-over-year decline.
  • Segment Adjusted EBITDA in the range of $11 to $13 million, representing an approximately 8% to 22% year-over-year decline.
  • The Scranton Products business has experienced some material input cost pressure that is expected to be offset in the second half of fiscal year 2025.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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