Azek reports Q4 adjusted EPS 36c, consensus 29c

Reports Q4 revenue $388.8M, consensus $368.82M. “The AZEK team delivered strong results this quarter including 27.6% net sales growth year-over-year, a net profit margin of 11.0% and a record fourth quarter Adjusted EBITDA Margin of 27.4%. Our Residential business grew 37.6% in the fourth quarter and 4.6% year-over-year, delivering an eighth straight year of net sales growth,” said Jesse Singh, CEO of The AZEK Company. “I am very proud of how the AZEK team was able to navigate in an uncertain market and consistently deliver against our commitments. The team outperformed by executing our growth playbook to drive above-market growth and by delivering against productivity initiatives to deliver net profit margin and Adjusted EBITDA Margin expansion in the second half of the fiscal year. Our focus on cash delivered strong operating cash flow and free cash flow generation of $362.5 million and $274.0 million, respectively, and returned $115.5 million to shareholders through share repurchases,” continued Mr. Singh.