AZEK Sees 4Q Rebound

The AZEK Company Inc. reported a ‘record’ fiscal 2021 fourth quarter, with net sales increasing 31.1% over the same period in 2020.
AZEK 4Q 2021 fiscal earnings

Chicago-based AZEK Company Inc., a manufacturer of low-maintenance and environmentally sustainable outdoor living products, announced fiscal 2021 fourth-quarter net sales of $346.1 million, a 31.1% increase over the same period in 2020.

“The AZEK Company delivered another impressive quarter and year – our first full year as a public company – with record growth in net sales, net income and Adjusted EBITDA,” AZEK CEO Jesse Singh said. “Our team continues to execute against our strategy of delivering long-term, sustainable growth and value creation for our customers, partners, employees, and shareholders. We delivered these results while strengthening our team, increasing capacity and broadening our differentiated product portfolio to increase market share and wood conversion.”

Net sales for the fiscal fourth quarter increased for the company’s residential segment by 31.1% and increased for its commercial segment by 31.3%.

Net income for fiscal 2021 4Q increased by $103 million to $38.6 million, or $0.25 per share, for the three months ending at Sept. 30. This was compared to a net loss of $64.4 million, or ($0.43) per share, for the same quarter in 2020.

“This was primarily due to higher sales growth in both our Residential and Commercial segments, higher gross profit and a decrease in interest expense resulting from the reduced principal amount outstanding under our Term Loan Agreement,” AZEK said.

Net sales for the twelve months ended Sept. 30 increased by $279.7 million, or 31.1%, compared to $899.3 million at the end of the year in 2020. The increase was primarily attributable to higher sales growth in the residential segment, which grew 35.4%, and 5.3% growth in the commercial segment.

Net income increased by $215.4 million to $93.2 million, or $0.59 per share, compared to a net loss of $122.2 million, or $1.01 per share for the end of the previous fiscal year.

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.