The AZEK Company Inc. (NYSE:AZEK) Q3 2024 Earnings Conference Call August 7, 2024 5:00 PM ET

Company Participants

Eric Robinson - Investor Relations
Jesse Singh - Chief Executive Officer
Peter Clifford - Chief Operations Officer and Chief Financial Officer

Conference Call Participants

Philip Ng - Jefferies
Michael Rehaut - JPMorgan
Tim Wojs - Baird
Matthew Bouley - Barclays
Mike Dahl - RBC Capital Markets
Susan Maklari - Goldman Sachs
Ryan Merkel - William Blair
Keith Hughes - Truist
John Lovallo - UBS
Rafe Jadrosich - Bank of America
Trey Grooms - Stephens
Adam Baumgarten - Zelman & Associates

Operator

Ladies and gentlemen, welcome to the AZEK Company's Third Quarter Fiscal 2024 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. Please be advised that today's conference is being recorded.

And I would now like to hand the conference over to Eric Robinson. Please go ahead, Eric.

Eric Robinson

Thank you, and good afternoon. We issued our earnings press release and a supplemental earnings presentation this afternoon to the Investor Relations portion of our website at investors.azekco.com. The earnings press release was also furnished via 8-K on the SEC's website. I'm joined today by Jesse Singh, our Chief Executive Officer; and Peter Clifford, our Chief Operations Officer and 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 and a supplemental earnings presentation, which are 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 once again delivered strong results in our fiscal third quarter of 2024, including a 12% net sales increase year-over-year. Excluding the recently divested Vycom business, net sales increased 18% year-over-year, driven by excellent performance in our residential segment, which also grew 18% year-over-year, driven by strength in deck, rails and accessories.