The following is a summary of the The AZEK Company Inc. (AZEK) Q2 2024 Earnings Call Transcript:

Financial Performance:

• AZEK reported Q2 consolidated net sales increase of 11% year-over-year to $418 million.

• For the year's first half, sales increased 11% year-over-year to $658.9 million.

• The company's 2024 year-end adjusted EBITDA is now expected to range between 25.8% and 26.4%, indicating progress towards its 27.5% objective.

• AZEK finished the quarter with cash and cash equivalents of $227 million.

• Given its strong performance, the company is raising its fiscal year 2024 net sales and adjusted EBITDA outlook.

Business Progress:

• AZEK's TimberTech brand is strengthening across all channels, with growth seen in sample orders and website visits.

• Product innovations such as the TimberTech Composite Terrain Plus are driving contractor productivity.

• Geographic recycling footprint expansion with a new Texas-based operation is underway.

• Investments are planned for 2024 to fuel both organic and inorganic business growth, and to maintain a focus on sales and marketing initiatives.

• The company obtained an ignition resistance designation from California, strengthening its position in the premium market.

• Expansion in capacity and sourcing capabilities was achieved, with new operations in Texas contributing to sourcing premium pure white PVC.

• The company is on track with siding capacity expansion and is planning further expansions via tuck-in acquisitions to expand their capabilities in recycling.

More details: The AZEK IR

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