Trex(TREX)
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Trex Company (TREX) Investor Presentation - Slideshow
2021-12-03 16:35
INVESTOR PRESENTATION N Y S E : T R E X November 2021 SAFE HARBOR / NON-GAAP MEASURES This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company's actual operating results to differ materially from those contemplated by the forward-looking statements. For further information on risk factors affecting the Comp ...
Trex(TREX) - 2021 Q3 - Earnings Call Transcript
2021-11-09 03:23
Financial Data and Key Metrics Changes - Trex reported a record sales growth of 45% year-over-year, reaching $336 million in Q3 2021, with a net income increase of 73% to $74 million or $0.64 per diluted share [9][29] - EBITDA increased by 76% to $108 million, with an EBITDA margin of 32.2%, compared to 26.6% in Q3 2020 [29] - Year-to-date consolidated net sales rose by 37% to $893 million, driven by a 39% growth in Trex Residential sales [30] Business Line Data and Key Metrics Changes - Trex Residential sales increased by 46% to $319 million, primarily due to strong volume growth and limited channel inventory [25] - Trex Commercial Products contributed $17 million to net sales, up 28% from the previous year [25] - Gross margin for Q3 2021 was 38.2%, an increase from 36.7% in the same quarter last year, despite inflationary pressures [26] Market Data and Key Metrics Changes - The composite decking market is estimated to account for approximately 24% to 25% of the overall decking market volume in North America, with market share gains from wood increasing to about 2 percentage points per year [12][13] - Trex's website traffic remains robust, accounting for nearly 70% of category website traffic, indicating strong consumer interest [15] Company Strategy and Development Direction - Trex aims to gain market share from wood within the expanding decking market, focusing on environmentally friendly, low-maintenance products [11][12] - The company plans to invest approximately $400 million over five years to develop a new manufacturing facility in Little Rock, Arkansas, enhancing geographical coverage and production capacity [20][21] - Trex is committed to minimizing environmental impact and is one of the largest recyclers of polyethylene in the U.S., diverting 850 million pounds of plastic and reclaimed wood from landfills annually [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong demand and expects double-digit revenue growth for the full year 2021 and into 2022 [35] - The company is focused on cost reduction projects and continuous improvement opportunities to enhance margins, including increased automation and modernization [35] - Management acknowledged challenges from labor shortages but noted improvements in staffing and operational efficiency [46] Other Important Information - Year-to-date capital expenditures were $124 million, primarily supporting the capacity expansion program completed in May [31] - Trex repurchased 576,714 shares of common stock at an average price of $90.68 per share, with 8.2 million shares remaining under the current repurchase program [32] Q&A Session Summary Question: Market conversion opportunity from wood to composite - Management sees potential for market conversion to reach 45% to 50% over the long term, driven by increased consumer awareness and product offerings [39] Question: Impact of labor shortages - Labor shortages impacted capacity but improvements are being made, with changes to compensation and incentives to attract staff [46] Question: Gross margin expectations - Gross margins are expected to improve in Q4 due to price increases and better production efficiencies, with a target of exceeding 40% in 2022 [106] Question: Capacity expansion in Little Rock - The new facility will allow for significant capacity growth, with modular development planned to meet long-term demand [61][72] Question: Demand trends across product categories - Demand growth is broad-based across all product categories, not limited to entry-level products [123]
Trex(TREX) - 2021 Q3 - Quarterly Report
2021-11-08 22:13
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-14649 Trex Company, Inc. (Exact name of registrant as specified in its charter) Delaware 54-1910453 (State or other ...
Trex(TREX) - 2021 Q2 - Earnings Call Transcript
2021-08-02 22:18
Trex Company, Inc. (NYSE:TREX) Q2 2021 Earnings Conference Call August 2, 2021 5:00 PM ET Company Participants Viktoriia Nakhla - Investor Relations Bill Gupp - Senior Vice President, General Counsel & Secretary Bryan Fairbanks - President & Chief Executive Officer Dennis Schemm - Senior Vice President & Chief Financial Officer Conference Call Participants Jeff Stevenson - Loop Capital Keith Hughes - Truist Ryan Merkel - William Blair Michael Rehaut - JPMorgan Matthew Bouley - Barclays Ketan Mamtora - BMO C ...
Trex(TREX) - 2021 Q2 - Quarterly Report
2021-08-02 21:12
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-14649 Trex Company, Inc. (Exact name of registrant as specified in its charter) Delaware 54-1910453 (State or other juris ...
Trex (TREX) Investor Presentation - Slideshow
2021-05-21 17:16
INVESTOR PRESENTATION N Y S E : T R E X May 2021 SAFE HARBOR / NON-GAAP MEASURES This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company's actual operating results to differ materially from those contemplated by the forward-looking statements. For further information on risk factors affecting the Company's ...
Trex(TREX) - 2021 Q1 - Earnings Call Transcript
2021-05-11 02:10
Trex Company, Inc. (NYSE:TREX) Q1 2021 Earnings Conference Call May 10, 2021 5:00 PM ET Company Participants Viktoriia Nakhla – Investor Relations Bill Gupp – Senior Vice President, General Counsel and Secretary Bryan Fairbanks – President and Chief Executive Officer Dennis Schemm – Senior Vice President and Chief Financial Officer Conference Call Participants Ryan Merkel – William Blair Tim Wojs – Baird Ketan Mamtora – BMO Capital Markets Keith Hughes – Truist Stanley Elliott – Stifel Matthew Bouley – Barc ...
Trex(TREX) - 2021 Q1 - Quarterly Report
2021-05-10 21:06
Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR For the transition period from to Registrant's telephone number, including area code: (540) 542-6300 Not Applicable (Former name, former address and former fiscal y ...
Trex Company (TREX) Investor Presentation - Slideshow
2021-02-23 13:12
NYSE:TREX Investor Presentation February 2021 Safe Harbor / Non-GAAP Measures This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company's actual operating results to differ materially from those contemplated by the forward-looking statements. For further information on risk factors affecting the Company's bu ...
Trex(TREX) - 2020 Q4 - Earnings Call Transcript
2021-02-23 03:17
Trex Company, Inc. (NYSE:TREX) Q4 2020 Earnings Conference Call February 22, 2021 5:00 PM ET Company Participants Viktoriia Nakhla - IR William Gupp - SVP, General Counsel & Secretary Bryan Fairbanks - President & CEO Dennis Schemm - VP & CFO Conference Call Participants Stanley Elliott - Stifel, Nicolaus & Company Ryan Merkel - William Blair & Company Nishchal Sood - UBS Investment Bank Matthew Bouley - Barclays Bank Keith Hughes - Truist Securities Ketan Mamtora - BMO Capital Markets Alexander Maroccia - ...