Trex Company, Inc. - TREX STOCK NEWS

Trex Company (NYSE:TREX) reported a strong first quarter of 2022, achieving a 38% increase in consolidated net sales, reaching $339 million. The net income rose by 47% to $71 million, with diluted earnings per share up 48% to $0.62. Residential sales surged 40%, driven by rising volume and effective pricing strategies. The gross margin expanded to 39.8%, reflecting operational efficiencies amidst cost pressures. Trex forecasts 22% year-on-year sales growth for Q2 2022, with a robust outlook for the rest of the year.

Trex Commercial has launched the Ocula glass windscreen system, enhancing outdoor design flexibility and wind protection for commercial applications. This innovative system supports wind loads up to 86 psf at guardrail height (43 inches), significantly exceeding industry standards. Ocula’s post-free, clamp-supported design allows for customization in height and finish, appealing for use in various settings like pool areas and balconies. The launch aligns with Trex's ongoing commitment to improving architectural aesthetics while ensuring safety and comfort in outdoor environments.

Trex Company, a leader in composite decking, announced the conclusion of its 15th annual Plastic Film Recycling Challenge. Students from K-12 participated nationwide, collecting over 323,586 pounds of polyethylene plastic film, significantly contributing to Trex's annual diversion of nearly 400 million pounds from landfills. This year, corporate sponsor Charter Next Generation introduced cash prizes for schools, enhancing engagement. Moscow Charter School emerged as the top recycler, earning $5,000, alongside other winners. The next challenge will kick off on November 15, 2022.

Trex Company, Inc. (NYSE:TREX) will release its first quarter 2022 earnings on May 9, 2022, after U.S. market close. A conference call with senior management is scheduled for the same day at 5:00 p.m. ET to discuss the results, followed by a Q&A session. Interested participants can join by dialing the provided numbers or via a live webcast on Trex's Investor Relations website. Trex is recognized as the leading provider of eco-friendly composite decking and railing, boasting over 30 years of experience in the industry.

Trex Company has launched Trex Academy, an online hub for DIY enthusiasts focused on deck building. This platform includes resources such as step-by-step guides, planning tools, and a comprehensive library of videos. It aims to assist users of all skill levels from conceptualization to project completion. The initiative underscores Trex's commitment to providing superior outdoor living products while enhancing customer engagement and support.

Trex Company, a leader in composite decking, has been awarded multiple honors by Green Builder Media for its commitment to sustainability. For the 12th consecutive year, Trex has been recognized as the “greenest” decking in the industry and received the highest score in the Green Builder Media Brand Index. Additionally, its new AR Decking Visualizer was named one of the 2022 Sustainable Products of the Year.

Trex Company reported record net sales of $1.2 billion for 2021, a 36% year-over-year increase, driven by robust demand for outdoor living products. Fourth-quarter sales increased by 33% to $304 million, with net income of $25 million and adjusted EBITDA up 44% to $92 million. The company is expanding its capacity, planning a new facility in Little Rock, Arkansas, set to open in 2024. Despite challenges like raw material costs, Trex anticipates first-quarter 2022 revenues of $320 million to $330 million, reflecting a 32% increase from the previous year.

Trex, a leader in high-performance wood-alternative decking, has launched a dedicated website to enhance its presence among architects, engineers, and contractors. This resource, available at Trex.com/Professionals, features a comprehensive portfolio, technical information, and product resources tailored for building professionals. The site aims to support decision-makers in creating sustainable outdoor spaces with easy access to Trex's extensive product offerings made from 95% recycled materials, backed by a 25-year warranty.

Trex has announced the launch of three new products designed for outdoor living, responding to increased homeowner demand for privacy and comfort in their backyards post-pandemic. The new offerings include Trex Privacy, a range of aluminum privacy wall panels; Trex Shade, architectural shade panels for pergolas; and the Trex Pergola Retreat, a versatile aluminum structure. These products aim to provide enhanced outdoor experiences, blending functionality with aesthetic appeal. Trex continues to solidify its market presence with innovative solutions tailored for modern outdoor spaces.