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EX - 99.1 2 d144707dex991.htm EX - 99.1 May 13 , 2021 THE AZEK COMPANY Exhibit 99.1 The AZEK Company Announces Second Quarter Fiscal Year 2021 Financial Results Continued Strong Sales Growth and Margin Execution ; Expanding Capacity Investment ; Launched Inaugural ESG Report ; Raising Full - Year Fiscal 2021 Outlook SECOND QUARTER FISCAL 2021 HIGHLIGHTS • • Consolidated net sales increased 19.4 % year - over - year to $ 293.1 million Residential segment net sales increased 24.7 % year - over - year to $ 262.2 million Net income increased $ 18.6 million year - over - year to $ 22.7 million ; Net Margin expanded 600 basis points to 7.7 % Adjusted EBITDA increased $ 15.7 million year - over - year to $ 71.5 million ; Adjusted EBITDA Margin expanded 170 basis points to 24.4 % 1 OUTLOOK HIGHLIGHTS - Raising Fiscal 2021 Outlook – Expecting consolidated net sales growth of 23 % to 26 % year - over - year and Adjusted EBITDA growth of 25 % to 29 % year - over - year , compared to our previous expectation of 14 % to 18 % net sales growth and 19 % to 23 % Adjusted EBITDA growth - Increasing Fiscal 2021 Capital Expenditure Outlook – Expecting capital expenditure of $ 175 to $ 185 million , or an additional $ 50 to $ 60 million compared to our previous guidance • Third Quarter Fiscal 2021 Outlook – Expecting consolidated net sales growth of 29 % to 32 % year - over - year and Adjusted EBITDA growth of 15 % to 18 % year - over - year _ Chicago , Ill . ( BUSINESS WIRE ) - The AZEK Company Inc. ( the “ Company ” or “ AZEK ” ) ( NYSE : AZEK ) , the industry - leading manufacturer of beautiful , low - maintenance and environmentally sustainable outdoor living products , including TimberTech® decking and Versatex® and AZEK TrimⓇ , today announced financial results for the second quarter ended March 31 , 2021 of its fiscal year 2021 . CEO COMMENTS " Underlying demand across our key outdoor living and exteriors markets continues to strengthen , and as a result , we are increasing our guidance as well as investments in capacity and key strategic initiatives for the balance of the year , ” commented Jesse Singh , AZEK's Chief Executive 1 For a reconciliation of the Adjusted EBITDA and Adjusted EBITDA Margin metrics , please refer to the reconciliation tables in the appendix . 1