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Why Azek Stock Soared Today

·2 min read
Why Azek Stock Soared Today
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Shares of recycled homebuilding products-maker The Azek Company (NYSE: AZEK), maker of composite "wood" products, such as TimberTech decking and Azek Trim, are on a tear Thursday, rising 10.7% through 2 p.m. EDT despite missing earnings estimates this morning. What's more, while Azek may have disappointed with its pro forma numbers, its GAAP earnings did not disappoint. In fact, when calculated according to generally accepted accounting principles (GAAP), earnings for the fiscal quarter were $0.14 per share -- much better than last year's Q3 loss of $0.44 per share.

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