Stock Story -
Outdoor living products manufacturer AZEK Company (NYSE:AZEK) will be reporting results tomorrow after the bell. Here's what investors should know.
AZEK beat analysts' revenue expectations by 1.5% last quarter, reporting revenues of $418.4 million, up 10.8% year on year. It was a good quarter for the company, with a decent beat of analysts' organic revenue estimates.
Is AZEK a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting AZEK's revenue to grow 2.3% year on year to $396.7 million, a reversal from the 1.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.36 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AZEK has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.9% on average.
Looking at AZEK's peers in the building materials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. UFP's revenues decreased 6.9% year on year, beating analysts' expectations by 1.6%, and Carlisle reported revenues up 11%, in line with consensus estimates. UFP traded up 3.8% following the results while Carlisle's stock price was unchanged.
Read the full analysis of UFP's and Carlisle's results on StockStory.
Investors in the building materials segment have had steady hands going into earnings, with share prices flat over the last month. AZEK's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $51.2 (compared to the current share price of $41.02).
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