Azek CO INC

Market Movers (8-K)

James Hardie Industries plc has successfully completed its previously announced acquisition of The AZEK Company, integrating AZEK's leading exterior home and outdoor living brands into its portfolio.
Capital raise
The AZEK Company Inc. stockholders have overwhelmingly approved all proposals related to the proposed merger with James Hardie Industries plc, with the transaction expected to close around July 1, 2025.
Capital raise
The AZEK Company Inc. announced the successful completion of the sale of its Commercial Segment's Scranton Products business to Sky Island Capital, a private equity firm, on June 20, 2025.
The AZEK Company Inc. has filed supplemental disclosures to its definitive proxy statement for the upcoming merger with James Hardie Industries plc, addressing shareholder lawsuits alleging deficiencies in the original merger disclosures.
Delay expected
The AZEK Company Inc. has amended its Executive Severance Plan to provide enhanced benefits for executives in the event of a qualifying termination following its merger with James Hardie Industries plc.
The AZEK Company Inc. announced the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period, a crucial step towards its merger with James Hardie Industries plc.
Capital raise

Quarterly Earnings (10-Q)

AZEK Company reports an 8.1% increase in net sales for the quarter ended March 31, 2025, while navigating a proposed merger with James Hardie Industries.
The AZEK Company's Q1 2025 net sales increased by 18.7% year-over-year, driven by strong residential demand, while net income decreased due to the prior year's gain on the sale of the Vycom business.
Worse than expected
The AZEK Company saw a significant increase in net sales and profitability in the third quarter of 2024, primarily driven by growth in its Residential segment.
Better than expected
Delay expected
The AZEK Company reported a significant increase in net income for the second quarter of 2024, driven by strong residential sales and cost management, despite a prior period restatement and the divestiture of its Vycom business.
Better than expected
Delay expected
The AZEK Company Inc. has filed an amended quarterly report to restate its financials for the quarter ended December 31, 2023, due to an inventory overstatement caused by a former employee, and has identified material weaknesses in internal controls.
Worse than expected
AZEK Company Inc. saw a significant increase in net income for the first quarter of fiscal year 2024, driven by strong performance in its Residential segment and the divestiture of its Vycom business.
Better than expected

Annual Reports (10-K)

The AZEK Company Inc. reports a 5.2% increase in net sales for fiscal year 2024, driven primarily by growth in its Residential segment, despite a decrease in the Commercial segment due to a divestiture.
Better than expected
AZEK Company Inc. files an amended 10-K/A to restate its consolidated financial statements for fiscal years 2021, 2022 and 2023 due to inventory misstatements and material weaknesses in internal controls.
Worse than expected

Insider Trading (Form 4)

AZEK Co Inc. CEO and President Jesse G. Singh has reported the disposition of all his direct and indirect holdings of AZEK Class A Common Stock and derivative securities as a result of the company's merger with James Hardie Industries plc.
AZEK Co Inc.'s Chief Financial Officer, Ryan Lada, disposed of common stock, restricted stock units, and stock options on July 1, 2025, as part of the company's merger with James Hardie Industries plc.
AZEK Company Inc. Director Gary E. Hendrickson reported the disposition of all his AZEK common stock and conversion of stock options due to the closing of the merger with James Hardie Industries plc.
AZEK Co Inc. Director Howard C. Heckes has fully divested his holdings in AZEK Class A Common Stock, converting them into cash and James Hardie Industries plc shares, following the closing of the previously announced merger.
Jonathan Skelly, President of Residential & Commercial at AZEK Co Inc., disposed of all his AZEK equity and derivative holdings as a result of the company's merger with James Hardie Industries plc, receiving cash and JHX shares.
AZEK Company Director Fiona Tan has disposed of her shares as The AZEK Company Inc. completes its merger with James Hardie Industries plc, with shareholders receiving a mix of cash and James Hardie ordinary shares.

Proxy Statements (Def-14A)

The AZEK Company Inc. is seeking stockholder approval for its acquisition by James Hardie Industries plc in a cash and stock transaction valued at approximately $7.78 billion, aiming to create a leading exterior and outdoor living building products platform.
Capital raise
AZEK is asking shareholders to vote in favor of removing provisions in its certificate of incorporation that provide preferential treatment to its former private equity sponsors, as they are no longer stockholders.
AZEK Company Inc. is holding its annual shareholder meeting on February 28, 2025, and has released its proxy materials for review and voting.
The AZEK Company has announced its 2025 annual meeting of stockholders, scheduled for February 28, 2025, and is seeking approval for several amendments to its corporate charter.
Better than expected

Schedule 13G - Passive Investments

FMR LLC and Abigail P. Johnson have disclosed a 6.1% passive ownership stake in AZEK Co. Inc., totaling 8,755,640.39 Class A Common Shares as of June 30, 2025.
The Vanguard Group has filed an amended Schedule 13G, reporting a passive beneficial ownership of 0.22% of AZEK Co Inc/The's Common Stock as of June 30, 2025.
BlackRock, Inc. has filed an amended Schedule 13G, reporting a 5.0% beneficial ownership stake in AZEK Co Inc.'s Class A Stock as of March 31, 2025.
FMR LLC and its Chairman and CEO, Abigail P. Johnson, have jointly reported a beneficial ownership of 9.1% of Azek Co Inc.'s Class A Common Stock as of December 31, 2024.
Wellington Management Group LLP and its affiliates have reported a beneficial ownership of 9.3% in The AZEK Company Inc. as of December 31, 2024, holding 13,313,032 shares of common stock.
BlackRock, Inc. has filed an amended Schedule 13G, disclosing a passive beneficial ownership of 5.1% in AZEK Co Inc.'s Class A Common Stock as of January 31, 2025.