The Azek Company is a leading manufacturer of high-performance building materials, specializing in products designed for outdoor living spaces such as decking, railing, and trim
The company focuses on sustainability and innovation, utilizing advanced technologies to create durable, low-maintenance materials that resist fading, staining, and scratching. Their offerings cater to both residential and commercial markets, appealing to homeowners, contractors, and landscapers who seek eco-friendly solutions that enhance aesthetic appeal and longevity. Azek is committed to promoting environmentally responsible practices, ensuring that their products not only meet customer demands but also contribute positively to the planet.
Shares of outdoor living products manufacturer AZEK Company (NYSE:AZEK)
jumped 23.6% in the afternoon session after James Hardie Industries offered to acquire the company (AZEK) in a cash and stock deal worth approx. $9 billion. The acquisition price implied a 26% premium to AZEK's average stock trading over the 30-day period before the deal became public.
James Hardie Industries is set to acquire AZEK in an $8.75 billion deal. The acquisition, expected to close by 2025, will expand its market presence to $23 billion in North America, boosting sales and EBITDA growth.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at UFP Industries (NASDAQ:UFPI) and the best and worst performers in the building materials industry.
Wrapping up Q4 earnings, we look at the numbers and key takeaways for the building materials stocks, including Sherwin-Williams (NYSE:SHW) and its peers.
Home automation and security solutions provider Resideo Technologies (NYSE:REZI)
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Infrastructure and agriculture equipment manufacturer Valmont Industries (NYSE:VMI)
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Building materials manufacturer UFP Industries (NASDAQ:UFPI)
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Outdoor living products manufacturer AZEK Company (NYSE:AZEK) announced better-than-expected revenue in Q4 CY2024, with sales up 18.7% year on year to $285.4 million. On the other hand, next quarter’s revenue guidance of $427 million was less impressive, coming in 3.1% below analysts’ estimates. Its non-GAAP profit of $0.17 per share was 24.7% above analysts’ consensus estimates.
