Investors in Trex Company, Inc. (TREX) need to pay close attention to the stock based on moves in the options market lately. That is because the Jul 19, 2024 $45.00 Call had some of the highest implied volatility of all equity options today. What do the Analysts Think? Given the way analysts feel about Trex right now, this huge implied volatility could mean there's a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many ...

Trex Company, Inc. (TREX) has entered into a strategic partnership with Paragon Stairs, with the latter being the exclusive supplier for its Trex Spiral Stairs collection. Under the partnership, Paragon will supply two modular systems, Vista Spiral Stair and Summit Spiral Stair, for the Trex Spiral Stairs collection. These two models are specifically designed to pair perfectly with Trex decking and railing, highlighting a modern and sophisticated look along with emphasizing functionality and longevity. Para ...

WINCHESTER, Va., June 03, 2024 (GLOBE NEWSWIRE) -- Trex Company [NYSE: TREX] is stepping into outdoor living season with a strategic new addition to its roster of licensed partners. In a move that brings together two industry leaders dedicated to enhancing outdoor living spaces with innovative, stylish solutions, the world's largest manufacturer of high-performance, low-maintenance composite decking and railing has tapped Paragon Stairs, the largest producer of spiral stairs in the U.S., to be the exclusive ...

WINCHESTER, Va., June 03, 2024 (GLOBE NEWSWIRE) -- Trex Company [NYSE: TREX] is stepping into outdoor living season with a strategic new addition to its roster of licensed partners. In a move that brings together two industry leaders dedicated to enhancing outdoor living spaces with innovative, stylish solutions, the world's largest manufacturer of high-performance, low-maintenance composite decking and railing has tapped Paragon Stairs, the largest producer of spiral stairs in the U.S., to be the exclusive ...

Trex Company, Inc. (NYSE:TREX) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Casey Kotary – Head of Investor Relations Bryan Fairbanks – President and Chief Executive Officer Brenda Lovcik – Senior Vice President and Chief Financial Officer Amy Fernandez – Senior Vice President, Chief Legal Officer and Secretary Conference Call Participants Stanley Elliott – Stifel Tim Wjos – Baird Ryan Merkel – William Blair Rafe Jadrosich – Bank of America Susan Maklari – Goldman Sachs Phil ...

Financial Performance - Net sales for the three months ended March 31, 2024, reached $373.6 million, a 56.5% increase from $238.7 million in the same period of 2023[82] - Gross profit for the same period was $169.6 million, reflecting a 79.6% increase compared to $94.4 million in Q1 2023[82] - Net income surged to $89.1 million, up 116.6% from $41.1 million year-over-year[82] - EBITDA for Q1 2024 was $133.2 million, a 93.4% increase from $68.9 million in Q1 2023[82] - Diluted earnings per share increased to $0.82, representing a 115.8% rise from $0.38 in the prior year[82] - Net sales increased by $134.9 million, or 56.5%, in Q1 2024 compared to Q1 2023, primarily due to increased volume and changes to the early-buy program[89] - Gross profit rose to $169.6 million, a 79.6% increase from $94.4 million in Q1 2023, with a gross margin of 45.4% compared to 39.6% in the prior year[91] - Net income for Q1 2024 was $89.1 million, up from $41.1 million in Q1 2023, with EBITDA increasing 93.4% to $133.2 million[94] Capital Expenditures and Financial Guidance - Capital expenditures in Q1 2024 totaled $37.7 million, primarily for the Arkansas manufacturing facility and capacity expansion[83] - Capital expenditures in Q1 2024 totaled $37.7 million, mainly for the Arkansas manufacturing facility and cost reduction initiatives[98] - The capital expenditure guidance for 2024 is set between $210 million and $230 million, including expenditures for the new Arkansas facility[112] - The company plans to prioritize capital allocation for internal growth, manufacturing cost reductions, and strategic acquisitions in 2024[113] Claims and Warranty - The warranty period for residential use of products sold on or after January 1, 2023, is 50 years for Transcend® decking and 35 years for Select® decking[116] - The warranty period for commercial use of products sold on or after January 1, 2023, is 10 years, with some exceptions having a 25-year warranty[116] - The number of incoming claims for the three months ended March 31, 2024, was 69, a decrease from 81 claims received in the same period in 2023[123] - The average cost per claim for the three months ended March 31, 2024, was $3,460, down from $4,114 in the same period in 2023[125] - The total number of open claims at the end of March 31, 2024, was 1,699, slightly up from 1,729 at the end of March 31, 2023[125] - The company estimates that a 10% change in the expected number of remaining claims or the expected cost to settle claims may result in approximately a $1.0 million change in the surface flaking warranty reserve[124] - The company maintains a warranty reserve for product warranty claims, adjusting estimates based on historical claims experience and future expectations[118] - The company continues to receive and settle claims for products manufactured prior to 2007 that exhibit surface flaking, maintaining a warranty reserve for these claims[119] Operational Insights - Selling, general and administrative expenses increased by $13.1 million to $50.6 million, representing 13.5% of total net sales, driven by higher personnel and marketing expenses[92] - Cash used in operating activities was $174 million in Q1 2024, compared to $115.5 million in Q1 2023, primarily due to increases in accounts receivable and inventories[97] - The company had $223 million in outstanding borrowings under the revolving credit facility, with a borrowing capacity of $327 million as of March 31, 2024[109] - Significant increases in inventory levels in the distribution channel without corresponding end-use demand could adversely affect future sales[114] - Seasonal demand for products may be affected by adverse weather conditions, but incentive programs for distributors help mitigate this impact[126] - The company has not experienced any material changes in market risk exposure during the three months ended March 31, 2024[127] Product Development and Recognition - Trex launched the Trex Signature® X-SeriesTM, expanding its railing portfolio with new cable and frameless glass rail options[82] - Trex was recognized as the most sustainable decking brand for the 14th consecutive year by Green Builder Media[82] - The company celebrated six awards for product excellence and innovation in decking and railing products from various industry organizations[82] - Trex's comprehensive fastener collection, including the Hideaway® Fastener Collection, was launched to meet diverse fastening needs[82]

TREX COMPANY REPORTS FIRST QUARTER 2024 RESULTS Robust First Quarter Sales Reflect Double-Digit Sell-Through for Premium Products and Early Buy Program Exhibit 99.1 NEWS RELEASE Gross Margin Expansion Driven by Higher Utilization and Cost Efficiencies Guiding to Second Quarter Revenues of $380 million to $390 million Reaffirms Full Year 2024 Guidance WINCHESTER, Va. —May 9, 2024— Trex Company, Inc. (NYSE:TREX) (Trex or Company), the world's #1 brand of high-performance, low-maintenance and eco-friendly comp ...

Trex Company, Inc. (NYSE:TREX) Q4 2023 Earnings Conference Call February 26, 2024 5:00 AM ET Company Participants Casey Kotary - IR Amy Fernandez - Vice President, General Counsel Bryan Fairbanks - President & CEO Brenda Lovcik - Senior Vice President and Chief Financial Officer Conference Call Participants Rafe Jadrosich - Bank of America Keith Hughes - SunTrust Robinson Humphrey Susan Maklari - Goldman Sachs Ryan Merkel - William Blair Joseph Ahlersmeyer - Deutsche Bank Trey Grooms - Stephens Tim Wojs - B ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ 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 j ...

Exhibit 99.1 NEWS RELEASE TREX COMPANY REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS —Strong Fourth Quarter Sales Cap a Year of Resilient Consumer Demand for Trex Decking & Railing— —Full Year Gross Margin Expanded By 480 Basis Points— —2024 Guidance Anticipates Double-Digit Sales Growth and Further Margin Expansion— WINCHESTER, Va.—February 26, 2024— Trex Company, Inc. (NYSE:TREX) (Trex or Company), the world's #1 brand of high-performance, low-maintenance and eco-friendly decking and railing and a lea ...