News & Events zu Azek Company Inc (AZEK)AZEKAzek Company Inc

Azek stockholders approve James Hardie transaction

The Azek Company (AZEK) announced that its stockholders have voted to approve all proposals related to the Company's proposed transaction with James Hardie Industries (JHX) at its Special Meeting of Stockholders. As previously announced, under the terms of the merger agreement and subject to the completion of the transaction, AZEK stockholders will receive $26.45 in cash and 1.0340 ordinary shares of James Hardie to be listed on the New York Stock Exchange for each share of AZEK common stock owned. "We thank our stockholders for their overwhelming support of this transaction," said Jesse Singh, CEO of The AZEK Company. "This is a transformative moment for our company and our people. By combining with James Hardie, we are bringing together two purpose-driven teams with complementary capabilities, united by a commitment to innovation, sustainability, and long-term value creation. Most importantly, this combination enhances our ability to deliver more value to our customers-through expanded offerings, greater innovation, and the continued best-in-class service they expect from our brands-while unlocking new avenues for growth." The transaction is expected to close on or about July 1, 2025, subject to the satisfaction or waiver of the closing conditions set forth in the merger agreement.

Azek says HSR waiting period expired for James Hardie merger

Azek (AZEK) disclosed that effective today, the applicable waiting period for its deal with James Hardie (JHX) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired. Shares of Azek are up 2% to $51.54 in afternoon trading.

Azek reports Q2 adjusted EPS 45c, consensus 44c

Reports Q2 revenue $452.2M, consensus $444.75M. "The AZEK team delivered another strong quarter, executing well in a dynamic market and once again outperforming the broader repair and remodel sector," said Jesse Singh, CEO of The AZEK Company. "Our Residential business delivered 9% growth year-over-year, driven by positive mid-single-digit Residential sell-through growth along with continued expansion of our channel presence and new product launches. Our disciplined approach to cost savings initiatives enabled us to expand our net profit margin by 10 basis points year-over-year to 12.0% and Adjusted EBITDA margin by 40 basis points year-over-year to 27.5%, even as we invested in marketing, new production and recycling capabilities. Our focus on driving growth through material conversion, product innovation, improving the consumer journey, brand and channel expansion is enabling our success and market outperformance. Combined with our disciplined cost initiatives and operational excellence, this underpins our ability to deliver strong results and margin expansion, and further demonstrates the resiliency of our business model, product categories and the strength of our team," continued Mr. Singh.