Azek Company, Inc. (NYSE:AZEK) Q1 2023 Earnings Conference Call February 8, 2023 5:00 PM ET

Company Participants

Eric Robinson - IR

Jesse Singh - CEO, President & Director

Peter Clifford - SVP, CFO & Interim Principal Accounting Officer

Conference Call Participants

Keith Hughes - Truist Securities

Matthew Bouley - Barclays Bank

Timothy Wojs - Robert W. Baird & Co.

Philip Ng - Jefferies

Adam Baumgarten - Zelman & Associates

Michael Rehaut - JPMorgan Chase & Co.

Michael Dahl - RBC Capital Markets

Trey Grooms - Stephens Inc.

John Lovallo - UBS

Ketan Mamtora - BMO Capital Markets

Susan Maklari - Goldman Sachs Group

Operator

Welcome to the AZEK Company's First Quarter 2023 Earnings Call. [Operator Instructions]. Please be advised that today's conference is being recorded.

I'd now like to hand over the conference to Eric Robinson. Please go ahead, Eric.

Eric Robinson

Thank you, and good afternoon, everyone. We issued our earnings press release and the supplemental earnings presentation this afternoon to the Investor Relations portion of our website at investors.azekco.com. The earnings press release was also furnished by an 8-K on the SEC's website. I'm joined today by Jesse Singh, our Chief Executive Officer; and Peter Clifford, our Chief Financial Officer.

I would like to remind everyone that during this call, we may make certain statements that constitute forward-looking statements within the meaning of the federal securities laws, including remarks about future expectations, beliefs, estimates, forecasts, plans and prospects. Such statements are subject to a variety of risks and uncertainties as described in our periodic reports filed with the Securities and Exchange Commission that could cause actual results to differ materially.

We do not undertake any duty to update such forward-looking statements. Additionally, during today's call, we will discuss non-GAAP financial measures, which we believe can be useful in evaluating our performance. These non-GAAP measures should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations of such non-GAAP measures can be found in our earnings press release, which is posted on our website.

Now let me turn the call over to AZEK's CEO, Jesse Singh.

Jesse Singh

Good afternoon, and thank you for joining us. The AZEK team delivered financial results modestly ahead of our guidance for the fiscal first quarter of 2023, driven by favorable sales combined with strong operational execution. As previously discussed, our results were impacted by the residential segment's channel inventory correction primarily within our Deck, Rail & Accessories business.