Trex Company Inc Stock Price, News & Analysis

Trex Company (NYSE:TREX) reported a strong third quarter for 2020, with consolidated net sales of $232 million, marking a 19% increase year-over-year. Net income rose to $43 million or $0.37 per diluted share, up 2% from the previous year. Despite a warranty charge of $6.5 million, adjusted gross margin was 39.5%. For the nine months, net sales totaled $653 million, up 12%. The company anticipates continued growth, projecting Q4 sales of $210-$220 million and strong double-digit growth for 2021.

Trex Company (NYSE:TREX) announced its participation in several upcoming investor conferences, showcasing its leadership in composite decking and outdoor products. The conferences include the Baird’s 2020 Global Industrial Conference on November 10, the Berenberg CEO Conference on November 12, the Stephens Annual Investment Conference on November 18, and the 2020 Truist Securities Industrials and Services Summit on December 8. Management will engage in one-on-one virtual meetings, with investor materials accessible via Trex's website.

Trex Company, Inc. (NYSE:TREX) has announced it will release its third-quarter 2020 earnings on November 2, 2020, after the market closes. A conference call will follow at 5:00 PM ET, hosted by senior management, where they will present prepared remarks and engage in a Q&A session. Interested parties can participate by calling 1-844-792-3734 or accessing a live webcast on the Trex website. Trex is recognized as the leading manufacturer of high-performance composite decking and railing products, with over 6,700 retail locations worldwide.

Trex Company, the largest manufacturer of wood-alternative decking, announces the 2020-2021 Trex Plastic Film Recycling Challenge. This educational program for K-12 students promotes recycling by encouraging competition to collect polyethylene plastic film. Last year, over 700 schools recycled 360,000 pounds, contributing to Trex's annual recycling of 400 million pounds. The challenge starts on November 15, 2020, with winners announced on April 22, 2021. Trex's decking is made of 95% recycled materials, showcasing their commitment to eco-friendly practices.

Trex, the leading brand in high-performance, low-maintenance outdoor products, has received notable industry recognition this year, including a Golden Hammer Award from HBS Dealer for its innovative Trex Signature railing collection. Additionally, the company secured two spots on Pro Remodeler’s “Top 100 Products” list with its Trex Enhance decking and Trex Transcend railing kits. These accolades affirm Trex's status as a go-to choice for trade professionals, reflecting the brand's innovation and commitment to quality.

Trex Company, Inc. (NYSE: TREX) has appointed Laura Rygielski Preston as president of Trex Commercial Products, effective immediately. Rygielski Preston brings over 25 years of experience, previously serving as Vice President at Trane, Inc., where she drove significant sales growth. Her role includes managing Trex Commercial Products and Staging Concepts, aiming to leverage their engineering capabilities for market share expansion. This leadership change is expected to enhance operational efficiencies and financial performance.

Trex® RainEscape® has launched the new Soffit Light, a directional LED downlight for enhancing outdoor spaces beneath elevated decks. This energy-efficient fixture features CREE long-life LEDs that use 75% less energy than standard options, promoting sustainability. Available in bronze, black, and white, the lights are durable, weatherproof, and easy to install without electrician help. Each unit integrates seamlessly with the Trex LightHub™ system for added versatility and control. Backed by a 5-year LED warranty and a 10-year coating warranty, the Soffit Light enhances safety and ambiance for outdoor living.