Trex Company, Inc. - TREX STOCK NEWS

Trex Company, Inc. [NYSE:TREX], the world's largest manufacturer of wood-alternative decking and railing, has announced the timing of its third quarter 2024 earnings release and conference call. The company will issue its earnings release on Monday, October 28, 2024, after the close of the U.S. market. A conference call hosted by senior management will follow at 5:00 PM ET on the same day.

To participate in the call, dial 1-844-792-3734 (U.S.) or 1-412-317-5126 (international) approximately ten minutes before the call. A live webcast will be available in the Investor Relations section of the Trex Company website. An audio replay will be accessible on the website for 30 days following the call.

Trex Company, based in Winchester, Va., is the #1 brand of sustainably made, wood-alternative decking and deck railing. The company's products are sold through more than 6,700 retail outlets across six continents.

Trex Company [NYSE:TREX] has launched the NexTrex® Plastic Recycling Drop-Off Directory, a nationwide online searchable platform connecting eco-conscious Americans with local plastic film recycling partners. This initiative addresses the challenge of recycling plastic bags and film, which cannot be processed in regular curbside recycling bins.

The directory includes approximately 10,000 drop-off locations across all 50 states, making it easier for individuals to responsibly dispose of plastic film waste. Trex, a leading manufacturer of composite decking, uses recycled polyethylene plastic as a core ingredient in its products, which are made from up to 95% recycled and reclaimed materials.

As one of North America's largest recyclers of PE film, Trex reclaims over 300 million pounds of discarded plastic annually. The company has diverted more than 5 billion pounds of PE film from landfills and waterways over the past 30 years, demonstrating the viability of plastic recycling when done properly.

Trex Company [NYSE:TREX], the world's largest manufacturer of wood-alternative decking, is expanding its Trex Enhance® decking line with two new colors featuring heat-mitigating technology. The new additions include Tide Pool, a subtle misty grey, and Honey Grove, a light honey brown. These colors combine affordability with advanced performance, previously only available in higher-priced Trex offerings.

Trex Enhance decking, introduced in 2019, is engineered to compete with wood while offering the durability and low maintenance of Trex products. Made from 95% recycled material, it features a scalloped profile for lighter weight and easier installation. The new colors reflect UV rays, keeping boards cooler than most other composite decking products. All Trex Enhance boards come with a 25-year Residential and Fade & Stain Warranty.

Trex Company (NYSE:TREX), the world's largest manufacturer of composite decking and railing, has announced its participation in three upcoming investor conferences in September 2024. The company will attend the Goldman Sachs 31st Annual Global Retailing Conference on September 4th, the Jefferies Industrials Conference on September 5th, and the D.A. Davidson 23rd Annual Diversified Industrials & Services Conference on September 19th.

Key executives, including CEO Bryan H. Fairbanks and COO Adam D. Zambanini, will participate in fireside chats and one-on-one meetings with investors. Trex's investor presentation is available on their website. The company, celebrating over 30 years in the industry, is recognized as America's Most Trusted® Outdoor Decking brand and has been included in several sustainability and responsibility rankings.

Trex Company [NYSE:TREX] has achieved remarkable success with its NexTrex® Grassroots Movement, a plastic recycling initiative launched in August 2022. The program has seen a 227% increase in participation over two years, demonstrating its effectiveness in tackling plastic waste. NexTrex® works with various organizations to collect and recycle polyethylene (PE) plastic, which is then used to manufacture Trex® composite decking.

Key highlights:

• Over 70 drop-off locations established across the U.S.
• More than 3 million pounds of PE plastic waste recovered
• Trex upcycles 320 million pounds of recycled plastic annually
• 5 billion pounds of plastic diverted from landfills over three decades

The program's success is attributed to its ease of implementation and the company's commitment to sustainability, making it an attractive option for businesses, municipalities, and educational institutions seeking to responsibly manage plastic waste.

Trex Company (NYSE:TREX), the world's largest manufacturer of high-performance, low-maintenance composite decking and railing, has reported on recent repurchases of its common stock. In the third quarter of 2024, the company repurchased 822,400 shares at an average price of $60.83 per share, totaling $50 million. This action is part of the Stock Repurchase Program adopted by Trex's Board of Directors on May 4, 2023.

As of August 19, 2024, Trex has 9.7 million shares remaining on its existing repurchase authority under the program, which has no set expiration date. CEO Bryan Fairbanks stated that these repurchases reflect the company's confidence in its long-term growth prospects and commitment to returning capital to shareholders.

Trex Company (NYSE:TREX), the world's largest manufacturer of composite decking and railing, has appointed Chris Keffer as a new independent member of its Board of Directors, effective August 15, 2024. Keffer brings 30 years of leadership experience in the power tool industry, currently serving as President and CEO of STIHL Inc. His expertise in developing and marketing high-quality branded products for both professional and DIY markets aligns with Trex's strategy to capture a larger share of the $14 billion addressable market for decking, railing, and adjacent products.

Keffer will serve on the Compensation and the Nominating and Corporate Governance Committees. With his addition, the Trex Board now comprises ten directors, nine of whom are independent. This appointment strengthens Trex's leadership as it continues to innovate and expand in the outdoor living products sector.

Trex Company (NYSE:TREX), the world's largest manufacturer of composite decking and railing, announced its Q2 2024 financial results. Key highlights include:

Net sales of $376 million, a 6% increase YoY.
Gross margin of 44.7%, up 80 basis points.
Net income of $87 million, a 13% increase YoY, and diluted EPS of $0.80.
EBITDA of $130 million, with an EBITDA margin of 34.6%.

The growth was driven by premium products like Trex Transcend and Trex Signature decking. However, demand for lower-priced products was below expectations. Trex adjusted its full-year sales guidance due to economic uncertainty, now expecting revenue between $1.13 billion and $1.15 billion while maintaining an EBITDA margin of 30% to 30.5%. Sales for Q3 are projected between $220 million and $230 million.

Trex continues to benefit from higher production efficiencies and cost-out programs.

Trex Company [NYSE: TREX], the world's largest manufacturer of composite decking and railing, has introduced All-In-One Post Kits for its Trex Select® and Trex Enhance® railing. These budget-friendly kits include a composite post sleeve, post cap, and post skirt packaged together, simplifying the railing purchase and installation process. Priced to compete with vinyl railing, the kits come in Trex's Classic White finish and are designed to slide over 4-inch by 4-inch structural posts.

The Enhance Kit is available in 48" height, while the Select Kit offers 40", 48", or 54" options. Both require separate purchase of railing kits and brackets. The new products aim to provide a more attractive and durable alternative to vinyl and wood at a competitive price point. Like all Trex products, these kits are low-maintenance, made in the USA, and backed by a 25-year Residential Warranty.