Trex Company Reports on Recent Share Repurchases
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), il più grande produttore mondiale di terrazze e ringhiere in composito ad alte prestazioni e a bassa manutenzione, ha riportato recenti riacquisti delle sue azioni ordinarie. Nel terzo trimestre del 2024, l'azienda ha riacquistato 822.400 azioni a un prezzo medio di 60,83 dollari per azione, per un totale di 50 milioni di dollari. Questa azione fa parte del Programma di Riacquisto di Azioni adottato dal Consiglio di Amministrazione di Trex il 4 maggio 2023.
Fino al 19 agosto 2024, Trex ha 9,7 milioni di azioni rimanenti sotto l'autorizzazione di riacquisto esistente nel programma, che non ha una scadenza fissata. Il CEO Bryan Fairbanks ha dichiarato che questi riacquisti riflettono la fiducia dell'azienda nelle sue prospettive di crescita a lungo termine e il suo impegno a restituire capitale agli azionisti.
Trex Company (NYSE:TREX), el mayor fabricante mundial de terrazas y barandillas de compuestos de alto rendimiento y bajo mantenimiento, ha informado sobre las recientes recompra de sus acciones ordinarias. En el tercer trimestre de 2024, la compañía recompró 822,400 acciones a un precio promedio de $60.83 por acción, totalizando $50 millones. Esta acción es parte del Programa de Recompra de Acciones adoptado por la Junta Directiva de Trex el 4 de mayo de 2023.
Hasta el 19 de agosto de 2024, Trex tiene 9.7 millones de acciones restantes bajo su autoridad de recompra existente en el programa, que no tiene fecha de caducidad establecida. El CEO Bryan Fairbanks declaró que estas recompras reflejan la confianza de la empresa en sus perspectivas de crecimiento a largo plazo y su compromiso de devolver capital a los accionistas.
Trex Company (NYSE:TREX)는 고성능 저유지관리 복합재 데크와 난간의 세계 최대 제조업체로, 최근 자사 보통주 매입에 대한 보고를 했습니다. 2024년 3분기 동안 회사는 822,400주를 평균 주당 60.83달러에 매입하였으며, 총 5천만 달러를 지출했습니다. 이 조치는 Trex의 이사회가 2023년 5월 4일에 채택한 자사주 매입 프로그램의 일환입니다.
2024년 8월 19일 기준으로 Trex는 프로그램에 따라 남은 970만 주를 보유하고 있으며, 이 프로그램에는 설정된 만료 날짜가 없습니다. CEO 브라이언 페어뱅크스는 이러한 매입이 회사의 장기 성장 가능성에 대한 자신감을 반영하며, 주주에게 자본을 환원하겠다는 약속을 보여준다고 밝혔습니다.
Trex Company (NYSE:TREX), le plus grand fabricant mondial de terrasses et rampes en composite à hautes performances et à faible entretien, a rapporté sur les récentes rachats de ses actions ordinaires. Au troisième trimestre 2024, la société a racheté 822 400 actions à un prix moyen de 60,83 $ par action, totalisant 50 millions de $. Cette action fait partie du Programme de Rachat d'Actions adopté par le Conseil d'Administration de Trex le 4 mai 2023.
Au 19 août 2024, Trex dispose de 9,7 millions d'actions restantes sous son autorité de rachat existante dans le programme, qui n'a pas de date d'expiration fixe. Le CEO Bryan Fairbanks a déclaré que ces rachats reflètent la confiance de l'entreprise dans ses perspectives de croissance à long terme et son engagement à restituer du capital aux actionnaires.
Trex Company (NYSE:TREX), der weltweit größte Hersteller von hochleistungsfähigen, wartungsarmen Verbunddeckungen und -geländern, hat über die kürzlichen Rückkäufe ihrer Stammaktien berichtet. Im 3. Quartal 2024 hat das Unternehmen 822.400 Aktien zu einem durchschnittlichen Preis von 60,83 $ pro Aktie zurückgekauft, was insgesamt 50 Millionen $ ausmacht. Diese Maßnahme ist Teil des vom Vorstand von Trex am 4. Mai 2023 verabschiedeten Aktienrückkaufprogramms.
Bis zum 19. August 2024 hat Trex 9,7 Millionen verbleibende Aktien im Rahmen der bestehenden Rückkaufautorisierung des Programms, das kein festgelegtes Ablaufdatum hat. CEO Bryan Fairbanks erklärte, dass diese Rückkäufe das Vertrauen des Unternehmens in seine langfristigen Wachstumsaussichten widerspiegeln und dass es sich verpflichtet hat, Kapital an die Aktionäre zurückzugeben.
- Repurchased 822,400 shares for $50 million, demonstrating financial strength
- Average repurchase price of $60.83 per share, potentially indicating management's view of stock undervaluation
- 9.7 million shares remaining for future repurchases, providing flexibility for continued shareholder value creation
- None.
Insights
Trex's $50 million share repurchase in Q3 2024 signals strong confidence in the company's future. With an average repurchase price of
Trex's share repurchase reflects broader trends in the home improvement sector. As the largest manufacturer of composite decking, Trex's confidence suggests potential strength in the outdoor living market. The timing of this buyback, coming after a period of high inflation and rising interest rates, might indicate that Trex sees resilience in consumer spending on home upgrades. However, investors should consider how economic factors like housing market fluctuations and consumer discretionary spending patterns could impact Trex's future performance. The
In the third quarter 2024, the Company has repurchased 822,400 shares at an average price of
"These share repurchases reflect our confidence in the Company’s long-term growth prospects and highlight our commitment to returning capital to shareholders,” said Bryan Fairbanks, President and CEO.
About Trex Company
For more than 30 years, Trex Company [NYSE: TREX] has invented, reinvented and defined the composite decking category. Today, the Company is the world’s #1 brand of sustainably made, wood-alternative decking and deck railing, and a leader in high performance, low-maintenance outdoor living products. The undisputed global leader, Trex boasts the industry’s strongest distribution network with products sold through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the Company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, LED lighting, outdoor kitchen components, pergolas, spiral stairs, fencing, lattice, cornhole and outdoor furniture – all marketed under the Trex® brand. Based in
*Trex received the highest numerical score in the proprietary Lifestory Research 2021-2024 America’s Most Trusted® Outdoor Decking studies. Study results are based on experiences and perceptions of people surveyed. Your experiences may vary. Visit www.lifestoryresearch.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240819471898/en/
Brenda K. Lovcik
Senior Vice President and CFO
540-542-6300
Lynn Morgen
Casey Kotary
ADVISIRY Partners
212-750-5800
lynn.morgen@advisiry.com
casey.kotary@advisiry.com
Source: Trex Company, Inc.
FAQ
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