Trex Company, Inc. - TREX STOCK NEWS

Trex Company (NYSE: TREX) is set to enhance its production capabilities by establishing a new manufacturing site in Little Rock, Arkansas. This strategic investment of approximately $400 million aims to meet the growing demand for its composite decking products driven by increasing consumer interest in outdoor living. Expected to create over 500 new jobs, the facility will optimize access to raw materials and key transportation hubs. Construction is slated to begin in early 2022, with production anticipated to start in 2024.

Trex Company is launching the 15th Annual Plastic Film Recycling Challenge for K-12 students, starting on November 15, 2021, coinciding with America Recycles Day. The initiative encourages schools to collect and recycle polyethylene plastic film over six months, culminating on Earth Day in 2022. With 95% of Trex products made from recycled materials, the program aims to raise awareness about recycling and rewards participating schools with Trex products. Last year, 271 schools recycled nearly 130,000 pounds of plastic waste.

Trex Company, Inc. (NYSE:TREX) will release its 3Q21 earnings on November 8, 2021, after U.S. market close. A conference call for investors will follow at 5:00 PM ET, featuring remarks and a Q&A session. Trex is recognized as a leading provider of environmentally friendly composite decking and railing, with a presence in over 6,700 retail locations globally. The company has been named in Fortune's 2020 list of the world's 100 Fastest-Growing Companies and Forbes' 2021 Best Mid-Size Companies.

Glenroy, Inc. has partnered with Trex Company to enhance sustainable packaging solutions. Their TruRenu stand-up pouch has been certified for recyclability through Trex's NexTrex Recycling Program, which reclaims over 850 million pounds of plastic annually. This partnership aims to inform consumers on recycling through the NexTrex label, enhancing packaging value. The pouch successfully passed initial testing, confirming it is made of polyethylene plastic, crucial for recyclability. This collaboration is showcased at Pack Expo 2021.

Trex Company has partnered with NW Works to enhance employment opportunities for individuals with disabilities. Since August 2020, Trex has employed 14 NW Works clients at its Virginia facility, where they contribute to crucial production functions. This collaboration has proven beneficial, with NW Works clients feeling valued and included in the workplace. As Trex expands its production capacity, it plans to double the number of NW Works employees in the next year, further reinforcing its commitment to diversity and corporate responsibility.

Trex Company has received the prestigious 2021 Golden Hammer Award from HBS Dealer magazine for its Universal Fastener Installation Tool. This innovative tool, aimed at both professionals and DIYers, significantly improves decking installation by reducing time by up to 50%. It features a unique nose cone for accurate fastener engagement, making it a valuable addition to builders' toolkits at a retail price of approximately $23. The award recognizes Trex's commitment to product excellence and innovation in the home improvement industry.

Trex Company (NYSE:TREX), a leader in composite decking and eco-friendly outdoor products, will present at the Barclays Select Series: Building & Building Products Conference on August 11 at 10:00 am EDT. Senior VP and CFO Dennis Schemm will lead the presentation, which will be held virtually. Investors can access the company’s presentation through its Investor Relations section. Trex is recognized as the #1 brand in outdoor living and boasts nearly 30 years of experience in the industry.

Trex Company reported robust second quarter 2021 results, achieving consolidated net sales of $312 million, up 41% year-over-year. Trex Residential sales surged 43% to $299 million, driven by increased demand and a completed $200 million capacity expansion. Gross margin declined to 38% due to rising raw material and logistic costs, impacting EBITDA growth of 36% to $92 million. Year-to-date, net income reached $110 million, up 22% from last year. For Q3 2021, Trex forecasts net sales between $320 million and $330 million.

Trex Company, Inc. (NYSE:TREX) will release its second quarter 2021 earnings on August 2, 2021, after the U.S. market close. A conference call with senior management will follow at 5:00 PM EDT, featuring prepared remarks and a Q&A session. Interested participants can join by calling 1-844-792-3734 (or 1-412-317-5126 internationally) ten minutes prior. A live webcast will be available on Trex's Investor Relations page, with an audio replay for 30 days post-event. Trex continues to lead in eco-friendly decking and railing solutions.