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EX - 99.1 2 d118485dex991.htm EX - 99.1 February 11 , 2021 THE AZEK COMPANY EXHIBIT 99.1 The AZEK Company Announces First Quarter Fiscal Year 2021 Financial Results Strong Sales Growth and Margin Expansion Continue ; Capacity Expansion On - Track ; Announcing Goal to Reach 1 Billion Pounds of Recycle Annually ; Raising Full - Year Fiscal 2021 Outlook FIRST QUARTER FISCAL 2021 HIGHLIGHTS • • Consolidated net sales increased 27.8 % year - over - year to $ 212.3 million Residential segment net sales increased 36.8 % year - over - year to $ 185.6 million Net income of $ 10.2 million , driven by sales growth , margin expansion and lower interest expense ; Net Margin of 4.8 % Adjusted EBITDA increased 43.3 % year - over - year to $ 48.5 million ; Adjusted EBITDA Margin expanded 240 basis points to 22.8 % OUTLOOK HIGHLIGHTS Raising Fiscal 2021 Outlook – Expecting consolidated net sales growth of 14 % to 18 % year - over - year and Adjusted EBITDA growth of 19 % to 23 % year - over - year , an increase compared to our previous expectation of 10 % to 14 % net sales growth and mid - teens Adjusted EBITDA growth Second Quarter Fiscal 2021 Outlook – Expecting consolidated net sales growth of 13 % to 15 % year - over - year and Adjusted EBITDA growth of 18 % to 22 % year - over - year Chicago , Ill . ( BUSINESS WIRE ) - -The AZEK Company Inc. ( the " Company " or " AZEK ” ) ( NYSE : AZEK ) , an industry - leading manufacturer of beautiful , low - maintenance and sustainable residential and commercial building products , today announced financial results for the first quarter ended December 31 , 2020 of its fiscal year 2021 . CEO COMMENTS " Demand trends have continued their momentum , enabling us to deliver strong first quarter sales growth as well as increased confidence in our outlook for the remainder of the year , " commented Jesse Singh , AZEK's Chief Executive Officer . “ Our team continues to do an excellent job of executing against our key strategic initiatives , including new product launches as well as our capacity expansion and recycling programs , which is evident in our robust growth profile and significant margin improvement during the quarter . Our capacity expansion program remains on track as we execute against the second phase of implementation and finalize site selection for our new western U.S. facility . "