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EX - 99.1 2 azek - ex991_14.htm EX - 99.1 August 12 , 2021 THE EAZEK COMPANY Exhibit 99.1 The AZEK Company Announces Strong Third Quarter Fiscal Year 2021 Financial Results Continued Strong Sales Growth and Demand Environment ; Phase 2 of Capacity Expansion Program Completed ; Raising Full - Year Fiscal 2021 Consolidated Net Sales and Adjusted EBITDA Outlook THIRD QUARTER FISCAL 2021 HIGHLIGHTS • • • Consolidated net sales increased 46.4 % year - over - year to $ 327.5 million Residential segment net sales increased 51.2 % year - over - year to $ 291.2 million Net income increased by $ 73.9 million year - over - year to $ 21.8 million ; Net Margin expanded to 6.6 % from ( 23.3 % ) GAAP earnings per share increased by $ 0.58 year - over - year to $ 0.14 per share ; Adjusted Diluted EPS increased by $ 0.21 year - over - year to $ 0.26 per share Adjusted EBITDA increased $ 14.9 million year - over - year to $ 72.7 million OUTLOOK HIGHLIGHTS • • • - Raising Fiscal 2021 Net Sales Outlook – Expecting consolidated net sales growth of 28 % to 30 % year- over - year , compared to our previous expectation of 23 % to 26 % - Raising Fiscal 2021 Adjusted EBITDA Midpoint Outlook – Expecting Adjusted EBITDA growth of 27 % to 29 % year - over - year , compared to our previous expectation of 25 % to 29 % - Fourth Quarter Fiscal 2021 Outlook – Expecting consolidated net sales growth of 22 % to 27 % year - over- year , and Adjusted EBITDA growth of 19 % to 25 % year - over - year Chicago , III . ( 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 third quarter ended June 30 , 2021 of its fiscal year 2021 . CEO COMMENTS " The AZEK Company once again delivered strong revenue and growth within the quarter , driven primarily by solid execution and underlying demand for products across channels in our Residential businesses , and improving sales trends in our Commercial segment , ” commented Jesse Singh , AZEK's Chief Executive Officer . “ During the quarter , we completed the second phase of our approximately $ 230 million multi - phase expansion plan and delivered over 50 % growth in our Residential segment . While we saw increasing inflation and availability challenges in materials ,