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The AZEK Company Inc. Class A (AZEK-3.61%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports net sales of $285.4 million for the quarter, an increase from $240.4 million in the same period the previous year, driven by higher sales in the Residential segment.
Cost of sales increased to $181.9 million from $149.8 million, resulting in a gross profit of $103.6 million, up from $90.7 million.
Selling, general, and administrative expenses decreased to $74.9 million from $77.2 million, attributed to lower marketing and stock-based compensation expenses.
Net income for the quarter was $18.1 million, down from $25.1 million in the previous year, with the decline partially due to the absence of a gain on the sale of the Vycom business recorded in the prior year.
Cash provided by operating activities was $13.6 million, compared to cash used of $16.3 million in the previous year, reflecting improved inventory management and profitability.
The company completed a $50 million accelerated share repurchase agreement in November 2024, repurchasing 159,447 shares during the quarter.
As of December 31, 2024, AZEK had $148.1 million in cash and cash equivalents and $438.9 million in total debt.
The filing outlines the company's liquidity position, noting $372.7 million available under its revolving credit facility.
The company continues to focus on its core business segments following the divestiture of the Vycom business in November 2023.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the The AZEK Company Inc. Class A quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.