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AZEK Co Inc. (AZEK)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsSep-30-22Sep-30-21Sep-30-20Sep-30-19Sep-30-18Sep-30-17
   10-K10-K10-K10-K10-KS-1/A
Revenues:  
    Residential  1,168.81,044.1771.2655.4541.9 
    Commercial  186.8134.8128.1138.8139.9 
Total revenues  1,355.61,179.0899.3794.2681.8632.6
            Revenue growth   [+]15.0%31.1%13.2%16.5%7.8% 
Cost of goods sold  946.3789.0603.2541.0479.8463.6
Gross profit  409.3390.0296.1253.2202.0169.0
            Gross margin  30.2%33.1%32.9%31.9%29.6%26.7%
Selling, general and administrative  279.9244.2308.3183.6144.7147.0
Other operating expenses  -0.90.37.78.22.727.0
Adjusted EBITDA  225.8219.5196.9159.9135.9 
            Adjusted EBITDA margin  16.7%18.6%21.9%20.1%19.9% 
Stock-based compensation  27.522.3117.14.63.5 
EBITDA   [+]198.3197.379.8155.4132.3 
            EBITDA margin  14.6%16.7%8.9%19.6%19.4%-0.8%
Depreciation  17.52.044.633.726.3 
EBITA  180.9195.335.2121.7106.0-5.1
            EBITA margin  13.3%16.6%3.9%15.3%15.6%-0.8%
Amortization of intangibles  50.549.855.160.251.4 
EBIT   [+]130.3145.5-19.961.454.7-5.1
            EBIT margin  9.6%12.3%-2.2%7.7%8.0%-0.8%
Non-recurring items   [+]1.43.31.82.42.320.8
Interest expense  25.020.371.283.268.761.6
Other income (expense), net   [+]  -37.6   
Pre-tax income  104.0121.8-130.5-24.2-16.4-87.5
Income taxes  28.828.7-8.3-4.0-23.1-20.0
            Tax rate  27.7%23.5%6.3%16.4%141.2%22.9%
Net income  75.293.2-122.2-20.26.7-67.4
            Net margin  5.5%7.9%-13.6%-2.5%1.0%-10.7%
   
Basic EPS   [+]$0.49$0.61($1.01)($0.19)$0.06($4,288.00)
Diluted EPS   [+]$0.49$0.59($1.01)($0.19)$0.06($4,288.00)
   
Shares outstanding (basic)   [+]153.5153.8120.8108.2108.20.0
Shares outstanding (diluted)   [+]154.5156.7120.8108.2108.20.0
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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