Welcome to our dedicated page for Trex Company news (Ticker: TREX), a resource for investors and traders seeking the latest updates and insights on Trex Company stock.
Trex Company, Inc. (NYSE: TREX) is the world's largest manufacturer of high-performance wood-alternative decking and railing. Headquartered in Winchester, Virginia, Trex specializes in creating sustainable, low-maintenance outdoor living products that combine superior durability and aesthetics. For over 30 years, Trex has been defining and reinventing the composite decking category.
Trex's product portfolio includes a wide variety of decking and railing options, along with LED deck and landscape lighting, stylish pergolas, outdoor furniture and storage solutions, innovative steel deck framing, and advanced drainage systems. These products are designed to help homeowners create their dream outdoor living spaces.
The company operates primarily under the Trex Residential segment, focusing on the manufacturing of wooden alternative decking products. Trex distributes its products through wholesale distributors and retail lumber dealers, who then sell to homeowners and professional contractors, remodelers, and homebuilders. This strategy has enabled Trex to build the industry's strongest distribution network, with products available in over 6,700 retail outlets across six continents.
Recent achievements highlight Trex's commitment to innovation and sustainability. The company was named America’s Most Trusted® Outdoor Decking brand for four consecutive years (2021-2024) and was listed among America's Most Responsible Companies 2024 by Newsweek. Investor’s Business Daily also recognized Trex as one of the 100 Best ESG Companies for 2023.
Trex continues to expand its market through strategic licensing agreements. Notable recent developments include the introduction of Trex Seal Sub-Ledger Tape, an innovative moisture barrier designed to protect deck ledger boards from water damage, and the addition of Paragon Stairs as the exclusive supplier for the Trex® Spiral Stairs collection. These collaborations aim to enhance the durability and longevity of outdoor decking solutions while providing stylish and functional design options.
With a strong focus on sustainability, Trex products are made from 95% recycled materials, including reclaimed wood and plastic film. This environmentally responsible approach helps the company reduce waste and conserve natural resources.
For more information, visit Trex.com or follow Trex on social media platforms like Facebook, Instagram, Twitter, LinkedIn, TikTok, Pinterest, and Houzz. You can also view product and demonstration videos on Trex's YouTube channel.
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.
Trex Company (NYSE: TREX) has expanded its Trex Signature® Railing line with the introduction of X-Series™ Cable Rail and X-Series™ Frameless Glass Rail. These new offerings blend modern profiles with simplified installation, addressing the growing demand for cable and glass railings among homeowners. The innovative X-Series™ Post anchors the system, accommodating both cable and frameless glass infills, as well as future additions to the X-Series line.
Key features include:
- Spring-loaded cables with improved tension management
- Push-to-connect fittings eliminating swaging or crimping
- Ball ends allowing cables to swivel for horizontal and stair angles
- Easy-to-order kits for spans up to 18'
- Powder-coated aluminum for durability and style
- Premium-grade stainless steel hardware for corrosion resistance
Trex Company (NYSE:TREX), the world's largest manufacturer of composite decking and railing, has announced its second quarter 2024 earnings release and conference call schedule. The earnings release will be issued on Tuesday, August 6, 2024, after the U.S. market closes. A conference call hosted by senior management will follow at 5:00 PM ET on the same day.
To participate, investors can 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 on the Trex website, with an audio replay accessible for 30 days after the call.
Trex, celebrating over 30 years in the industry, is recognized as America's Most Trusted® Outdoor Decking for four consecutive years (2021-2024). The company has also been included in several prestigious lists, including Barron's 100 Most Sustainable U.S. Companies 2024 and Newsweek's America's Most Responsible Companies 2024.
Trex Company, the leading manufacturer of composite decking and outdoor living products, has published its 2023 Sustainability Report titled “Seeing More Value in Sustainability.” The report highlights key achievements, including sourcing over 320 million pounds of waste polyethylene (PE) film and recycling more than 5 billion pounds of PE film to date. Trex also introduced new products emphasizing longevity and durability, reduced its lost-time incident rate by 29%, and enhanced its employee value proposition. Additionally, Trex engaged over 2,500 schools and civic organizations in its NexTrex® recycling programs. The company received multiple recognitions in 2023, including the Lowe’s Sustainability Vendor Partner of the Year award and listings in Newsweek’s America’s Most Responsible Companies and Investor’s Business Daily’s 100 Best ESG Companies.
Trex Company (NYSE: TREX) has announced a partnership with Paragon Stairs, the largest spiral stairs producer in the U.S., making Paragon the exclusive supplier for its Trex® Spiral Stairs collection. The collaboration aims to enhance outdoor living spaces with innovative and stylish solutions. Paragon's Vista and Summit Spiral Stair models are designed to integrate seamlessly with Trex decking and railing, offering modern aesthetics and functionality. Key features include modular systems, premium finishes, and customizable options. The initiative is expected to boost customer satisfaction and expand Trex's market reach.
Trex Company, Inc. reported strong financial results for the first quarter of 2024, with net sales of $374 million, gross margin of 45.4%, net income of $89 million, and diluted earnings per share of $0.82. The company's EBITDA was $133 million with an EBITDA margin of 35.6%. Trex reaffirmed its full-year 2024 guidance and highlighted the success of its Early Buy program and continued demand for premium products. Recent recognitions include awards for sustainability and innovation, positioning Trex as a leader in the outdoor living industry.
Trex Company, Inc. (NYSE:TREX) announces its participation in several investor conferences in May and June 2024. The company is a leading brand in eco-friendly composite decking, railing, and outdoor living products. Trex will be presenting at prestigious events like the J.P. Morgan Homebuilding & Building Products Conference and the William Blair Growth Stock Conference. The company's strong distribution network spans six continents, and it has been recognized for its sustainability and responsible business practices.
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