The AZEK Company Inc. has recently released its 10-K report, providing a detailed look at its financial condition and operations. The company designs, manufactures, and sells building products for residential, commercial, and industrial markets in the United States and Canada. It operates through two segments: Residential and Commercial. The Residential segment offers engineered outdoor living products, while the Commercial segment provides bathroom partitions, lockers, and storage solutions.
In the 10-K report, the company's management discusses the financial condition and results of operations, emphasizing its focus on driving material conversion to low-maintenance, engineered products in both residential and commercial markets. The report also highlights the company's efforts to introduce innovative products and expand its business, with a focus on sustainability across its operations.
The report mentions the acquisition of StruXure Outdoor, LLC in December 2021 and INTEX Millwork Solutions, LLC in August 2022, with their assets and liabilities included in the consolidated financial statements. Additionally, it details a secondary offering of Class A common stock, completed during the three months ended June 30, 2023.
Key factors affecting the company's results of operations include the volume of products sold, economic conditions, material conversion, product innovation, and marketing and distribution efforts. The report also discusses the company's pricing strategy and the cost of materials, particularly the impact of raw material costs on its operations.
Today the company's shares have moved 3.9% to a price of $48.27. If you want to know more, read the company's complete 10-K report here.
