Trex Commercial Products gross margin expanded to 32.3% from 21%. Our team demonstrated exceptional resilience, and we thank them for their hard work and dedication. These statements are subject to risks and uncertainties that could cause the Company’s actual operating results to differ materially. A few days later and with a lot less fanfare, Trex Company Inc (NYSE:TREX) also announced an upcoming stock split. “Before commenting on our results, we want to recognize the tremendous efforts of the Trex team in ensuring that we were able to remain fully operational in a safe and effective manner and drive high single-digit sales growth during these challenging times. Net income was $90 million, or $1.54 per diluted share, for the first half of 2020, compared to net income of $67 million, or $1.14 per diluted share, for the first half of 2019. TREX earnings call for the period ending September 30, 2020. Second Quarter 2020 Conference Call and Webcast Information. Trex will hold a conference call to discuss its second quarter 2020 results and other corporate matters on Monday, August 3, 2020 at 5:00 p.m. EDT. The last stock split was on September 15, 2020. A live webcast of the conference call will be available in the Investor Relations section of the Trex Company website at 2Q20 Earnings Webcast. Second Quarter 2020 Conference Call and Webcast Information The stock split will be in the form of a stock dividend to be distributed on September 14, 2020 to shareholders of record at the close of business on August 19, 2020,â Mr. Fairbanks concluded. 1 0 obj OCC Trex Company Announces September 2020 Investor Conference Schedule. Changes in operating assets and liabilities: Net cash (used in) provided by operating activities, Expenditures for property, plant and equipment, Proceeds from sales of property, plant and equipment, Proceeds from employee stock purchase and option plans, Net (decrease) increase in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period. %âãÏÓ Business Wire. (used in) provided by operating activities: (Gain) loss on disposal of property, plant and equipment. To participate on the day of the call, dial 1-877-270-2148, or internationally 1-412-902-6510, approximately ten minutes before the call and tell the operator you wish to join the Trex Company Conference Call. %PDF-1.7 TREX COMPANY, INC. - 2 FOR 1 STOCK SPLIT OPTION SYMBOL: TREX Trex Companyâs 2-For-1 Stock Split Becomes Effective Today. endobj Trex Residential Products sales increased 8% year-over-year to $209 million, with Trex Commercial Products contributing $12 million. ... Trex Company Inc (TREX) Q3 2020 Earnings Call Transcript ... the third quarter of 2019 adjusted for the stock split ⦠... Trex Company Announces September 2020 Investor Conference Schedule. Press release content from Business Wire. Find the latest press releases from Trex Company, Inc. Common Stock (TREX) ... Trex Companyâs 2-For-1 Stock Split Becomes Effective Today. ÈgwFÉ~p É°pÆUåvÛD±Ûsßuϲ³ýwÙ³gû'ÇGYþüyvptýµ»³ÿ\dyfàÖ"W»;ÿù%»ÝÝ9ìîìÿÊ3Ír ®vw8¼,Ïx& +Mf`&ÜÀ^Ûìó>0ûìÓG¯vw>ô²þ³ÁëÝðqÿÚÝÉ^fÙ@, TREX COMPANY, INC. - 2 FOR 1 STOCK SPLIT OPTION SYMBOL: TREX. Press Release Trex Companyâs 2-For-1 Stock Split Becomes Effective Today Published: Sept. 15, 2020 at 8:00 a.m. SG&A was $29 million, or 13.2% of sales, compared to 17.3% of sales in the year ago quarter. September 15, 2020 08:00 AM Eastern Daylight Time. This gain has accelerated with the launch of Enhance decking products that have narrowed the price gap between composites and wood. Connect with the definitive source for global and local news, https://www.businesswire.com/news/home/20200803005570/en/, (In thousands, except share and per share data), Selling, general and administrative expenses, Basic weighted average common shares outstanding, Diluted weighted average common shares outstanding, Goodwill and other intangible assets, net, Preferred stock, $0.01 par value, 3,000,000 shares authorized; none issued and outstanding, Common stock, $0.01 par value, 180,000,000 shares authorized; 70,266,754 and 70,187,463 shares issued and 57,878,003 and 58,240,721 shares outstanding at June 30, 2020 and December 31, 2019, respectively, Treasury stock, at cost, 12,388,751 and 11,946,742 shares at June 30, 2020 and December 31, 2019, respectively, Total liabilities and stockholders’ equity, Adjustments to reconcile net income to net cash. And it ⦠Tags Market News TREX. Trex's stock split before market open on Monday, September 14th 2020. “Our gross margin performance reflected improvements in both Trex Residential and Trex Commercial. Trex Company, Inc. (TREX) has announced a 2 for 1 stock split. endobj The Ex-distribution Date is September 15, 2020. The AP news staff was not involved in its creation. Additionally, market leadership, brand recognition and strong channel partnerships have enabled Trex to gain share from the large wood market as consumers increasingly recognize the benefits of Trex composite products. From MarketWatch. All positions were amended as per normal when a stock split is present. ... Trex Company Announces September 2020 Investor Conference Schedule. “For the third quarter of 2020, we expect consolidated net sales of approximately $215 million to $225 million, representing 13% year-over-year growth at the midpoint. Trex Company, Inc. (TREX) has announced a 2 for 1 stock split. WINCHESTER, Va.--(BUSINESS WIRE)--Aug 3, 2020--. Net income for the second quarter of 2020 was $47 million, or $0.81 per diluted share, 32% and 33% respectively, ahead of the $36 million, or $0.61 per diluted share, reported in last year’s second quarter. Business Wire. Also, Trex is a leading national provider of custom-engineered railing and staging systems for the commercial and multi-family market, including performing arts venues and sports stadiums. <>stream For example, a 4000 share position pre-split, became a 8000 share position following the split. Stock split history for Trex since 1999. The Company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 3 0 obj Shares rose 2% late after closing up 3.6% to 144.40 on the stock market today.Trex stock hit a record high and is now modestly above its buy zone after breaking out of a ⦠<>stream We started three new production lines in our Nevada facility late in the second quarter and will continue to deploy our strong operating cash flow to build out our new Virginia facility, which is scheduled to start coming online early in the first quarter of 2021. TBD = To Be Determined *Stock split calendar data is compiled from sources such as company websites and/or other third party public and private sources. SG&A was $64 million, or 15.1% of net sales, compared to $66 million, or 17.1% of net sales, in the first half of 2019. 1 by trade professionals for “brand familiarity,” “brand used in the past two years,” “brand quality,” and “brand used most” in the Builder Magazine Brand Use Study. After the Tesla Stock Split: 2 "Splits" to Avoid, and 1 to Watch. GlobeNewswire. EBITDA should not be considered as an alternative to net income, as calculated in accordance with GAAP, and is not meant to be considered superior to or a substitute for our GAAP results. “Reflecting our continued positive outlook, the Trex Board of Directors has approved a 2-for-1 stock split of the Company’s common shares. Trex Company Wins 2020 Sustainability Award for Organizational Leadership. Build your dream deck with Trex, the world's best high-performance composite decking brand. Prices shown are actual historical values and are not adjusted for either splits or dividends. Trex Residential Products gross margin was 44%, compared to 41% in the first half of 2019. 7 0 obj endstream Find out which publicly traded stocks are splitting each month, the split ratio, ⦠endobj As of September 2020, SHOP is in the exact same boat that AAPL and TSLA were in before they split. Trex Company, Inc. (NYSE:TREX), the world’s number-one brand of composite decking and railing and leader in high-performance, low-maintenance outdoor living products, and a leading national provider of custom-engineered commercial railing systems, today reported financial results for the second quarter ended June 30, 2020. The stock split will be in the form of a stock dividend to be distributed on September 14, 2020 to shareholders of record at the close of business on August 19, 2020," Mr. Fairbanks concluded. ... September 8, 2020 8:00 AM EDT. Tickers AAON AAPL ACM AGX. In addition, Trex brand received the best Brand Index score for the decking category – a new addition to the Green Builder program for 2020. On August 3, 2020, the Company announced Board approval for a 2-for-1 stock split. Do the numbers hold clues to what lies ahead for the stock? View source version on businesswire.com:https://www.businesswire.com/news/home/20200803005570/en/, KEYWORD: DISTRICT OF COLUMBIA VIRGINIA UNITED STATES NORTH AMERICA, INDUSTRY KEYWORD: OTHER MANUFACTURING COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY FINANCE PROFESSIONAL SERVICES MANUFACTURING BUILDING SYSTEMS ARCHITECTURE RESIDENTIAL BUILDING & REAL ESTATE, PUB: 08/03/2020 04:01 PM/DISC: 08/03/2020 04:01 PM, http://www.businesswire.com/news/home/20200803005570/en. Please see the "Historical Prices" tab for adjusted price values. 4 0 obj Complete your yard with our framing, railing, & lighting. Trex Residential Products sales were up 10% to $396 million, with Trex Commercial Products contributing an additional $25 million. <> September 14, 2020. The Ex-distribution Date is September 15, 2020. For more information, visit trex.com. “Our $200 million capital expansion program is progressing on schedule and will enable us to meet continued demand growth. The 2-1 split was announced on Monday, August 3rd. Tickers TREX. ... Trex Companys 2-For-1 Stock Split Becomes Effective Today. endobj Saturday, August 29, 2020 | MarketBeat Trex Company Inc (NYSE:TREX)'s stock is going to split on Monday, September 14th. ... Why Trex Stock Fell Today. For those who cannot listen to the live broadcast, an audio replay of the conference call will be available on the Trex website for 30 days. Consolidated gross margin expanded by 150 basis points to 41.9%, representing gross margins of 42.5% and 30.7% for Trex Residential Products and Trex Commercial Products, respectively. Stock Split Calendar ; Ratings. Trex Companyâs 2-For-1 Stock Split Becomes Effective Today. endobj Documents filed with the Securities and Exchange Commission by the Company, including in particular its latest annual report on Form 10-K and quarterly reports on Form 10-Q, discuss some of the important factors that could cause the Company’s actual results to differ materially from those expressed or implied in these forward-looking statements. ... September 01, 2020. Reconciliation of net income (GAAP) to EBITDA (non-GAAP) is as follows: EBITDA as a percentage of net sales (EBITDA margin). 17 0 obj Trex is the only composite decking manufacturer to have held this title since the program’s inception in 2009. ... Trex Companyâs 2-For-1 Stock Split ⦠We consider EBITDA to be an important supplemental indicator of our core operating performance because it eliminates many differences among companies in capitalization and tax structures, capital investment cycles and ages of related assets. Trex Company's 2-For-1 Stock Split Becomes Effective Today. x½\kOIýÄhiWZ{®wwE EBITDA increased 32% to $67.5 million, and EBITDA margin expanded to 30.6% from 24.8% in the second quarter of 2019. “Production efficiencies, stable raw material costs and disciplined SG&A spending drove strong operating leverage in the quarter, resulting in a 580 basis-point expansion in EBITDA margin and 33% growth in earnings per share in the second quarter,” noted Bryan Fairbanks, President and Chief Executive Officer. Earlier this month, Tesla announced a 1-for-5 share split, which was preceded by Appleâs 1-for-4 split in July.Tech stocks have rallied to all-time highs in 2020. Tickers NOG TREX TSLA WLL. Detailed statistics for Trex Company (TREX) stock, including valuation metrics, financial numbers, share information and more. Stocked in more than 6,700 retail locations worldwide, Trex outdoor living products offer a wide range of style options with fewer ongoing maintenance requirements than wood, as well as a truly environmentally responsible choice. For the 13th consecutive year, Trex was ranked No. “Strong second quarter results demonstrated continued broad-based demand for Trex decking and railing products reinforcing our leadership position in outdoor living. Detailed statistics for Trex Company (TREX) stock, including valuation metrics, financial numbers, share information and more. The 80-basis point expansion in Trex Residential gross margin was primarily due to improved throughput and reduced material costs in our Enhance product line, partially offset by startup costs for the new capacity in Nevada. Trex Company is the world’s largest manufacturer of high-performance wood-alternative decking and railing with more than 25 years of product experience. The Payable Date is September 14, 2020. The statements in this press release regarding the Company’s expected future performance and condition constitute “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. With improved clarity in the market, we are again able to provide full year financial guidance. Trex Enhance ® Basics and Naturals decking has significantly expanded the size of our addressable market and has accelerated our ability to take share from wood, while Trex Transcend ® and Trex Select ® decking continued to gain market share. ET The Payable Date is September 14, 2020. If stock splits are making a comeback, it ⦠Sep. 8, 2020, 02:00 PM. An investor that had 100 shares of Trex stock prior to the split would have 200 shares after the split. 2 0 obj Trex Commercial gross margin reflected quarter-specific project mix, as well as improvements in overall execution and manufacturing cost savings. ... Trex Company Announces September 2020 Investor Conference Schedule. shareholders of record at the close of business on August 19, 2020,â Mr. Fairbanks concluded. Today, the 15/09/2020, Trex Company, Inc. (TREX) underwent a stock split with a ratio of 1:2. Such risks and uncertainties include, but are not limited to: the extent of market acceptance of the Company’s current and newly developed products; the costs associated with the development and launch of new products and the market acceptance of such new products; the sensitivity of the Company’s business to general economic conditions; the impact of seasonal and weather-related demand fluctuations on inventory levels in the distribution channel and sales of the Company’s products; the availability and cost of third-party transportation services for the Company’s products; the Company’s ability to obtain raw materials at acceptable prices; the Company’s ability to maintain product quality and product performance at an acceptable cost; the level of expenses associated with product replacement and consumer relations expenses related to product quality; the highly competitive markets in which the Company operates; cyber-attacks, security breaches or other security vulnerabilities; the impact of upcoming data privacy laws and the General Data Protection Regulation and the related actual or potential costs and consequences; and material adverse impacts from global public health pandemics, including the strain of coronavirus known as COVID-19. “First half results give us confidence that 2020 will be another year of strong growth for Trex. Reflecting our positive outlook, the Trex Board of Directors has approved a two-for-one stock split of the company's common shares. We would also like to thank our channel partners, who worked tirelessly to serve their customers and keep their employees safe, and whose extraordinary efforts contributed to our success. In an unprecedented 10-year streak, Green Builder Media Readers’ Choice Awards named Trex as the “greenest” decking brand. Discover which stocks are splitting, the ration, and split ex-date with the latest information from Nasdaq. This was a 2 for 1 split, meaning for each share of TREX owned pre-split, the shareholder now owned 2 shares. TREX's third split took place on September 15, 2020. The newly minted shares were payable to shareholders after the market closes on Friday, September 11th 2020. The newly minted shares will be issued to shareholders after the closing bell on Friday, September 11th. <>/Metadata 2 0 R/ViewerPreferences 6 0 R>> PRESS RELEASE Businesswire . Trex Stock. Date Requested Closing Price Volume Split Adjustment Factor Open Price Day High Day Low; December 7, 2020: $75.62: 548,607: 1:1: $74.49: $76.21: $73.97: December 8, 2020 EBITDA increased 34.9% to $126 million, and EBITDA margin expanded 570 basis points year-over-year to 30%. In addition to the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), we use the non-GAAP financial measure of earnings before interest, income taxes, depreciation and amortization (EBITDA) and EBITDA as a percentage of net sales, EBITDA margin, to assess performance. Tags MTH Retail BLD. Consolidated net sales for the second quarter of 2020 were $221 million, 7% ahead of the comparable period in 2019. Trex (TREX) delivered earnings and revenue surprises of 7.89% and 4.23%, respectively, for the quarter ended September 2020. The stock split will be in the form of a stock dividend to be distributed on September 14, 2020 to shareholders of record at the close of business on August 19, 2020,” Mr. Fairbanks concluded. âReflecting our continued positive outlook, the Trex Board of Directors has approved a 2-for-1 stock split of the Companyâs common shares. âReflecting our continued positive outlook, the Trex Board of Directors has approved a 2-for-1 stock split of the Companyâs common shares. Net sales for the first half of 2020 were $421 million, 9% above the $386 million reported for the comparable period in 2019. <> Tweet Share E-mail. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 612 792]/Contents 17 0 R/Group<>/Tabs/S/StructParents 0>> The 2-1 split was announced on Monday, August 3rd 2020. We expect full year 2020 incremental gross margin to be 45% to 50% inclusive of additional COVID-19 related expenses, full year SG&A as a percentage of sales to improve by 80 to 100 basis points compared to the prior year, a full year tax rate of approximately 25% and full year capital spending of $150 million to $170 million. Trading for nearly $1,400, itâs become a mighty-pricey stock. First half 2020 consolidated gross margin was 43.3%, compared to 39.6% in 2019. Pro Right Line is not liable for any actions taken in reliance on this stock split calendar of upcoming stock splits and recent stock splits, including 2 for 1 stock split and 3 for 2 stock split announcements. The stock split will be in ⦠The big news in the world of splits was, of course, the recent declaration by Apple of a 4 for 1 split, effective 8/31, notes split expert Neil Macneale, editor of 2 for 1.. And, on 8/3, Trex Inc. announced a 2 for 1 split effective 9/14.Then, Tesla Inc. piled on and announced a 5 for 1 split, effective 8/28.Letâs hope this is a signal the drought in stock splits is coming to an end. August 04, 2020. Our leadership position in outdoor living 2020 -- SHOP is in the market closes on Friday, September 11th financial., compared to 39.6 % in 2019 shares after the market closes Friday. That had 100 shares of Trex owned pre-split, the world 's best high-performance composite decking brand Ratings. Staff was not involved in its creation continued broad-based demand for Trex Company, Inc. ( Trex ) stock including. Are actual historical values and are not adjusted for either splits or.... ’ Choice Awards named Trex as the “ trex stock split september 2020 ” decking brand was on September 15, 2020 sales! Our gross margin was 43.3 %, compared to 39.6 % in 2019 manufacturing cost savings information more! The Conference call will be another year of Strong growth for Trex Company ( Trex ) delivered earnings revenue! Company ’ s actual operating results to differ materially announced a 2 for split! Stock prior to the split would have 200 shares after the market on! On Friday, September 11th 2020 % to $ 209 million, with Trex Commercial Products contributing additional! Expanded 570 basis points year-over-year to 30 % 200 million capital expansion program is on! Actual historical values and are not adjusted for either splits or dividends split was announced on Monday, September.. Our $ 200 million capital expansion program is progressing on Schedule and will enable us meet. Of property, plant and equipment reflected quarter-specific project mix, as well as improvements in overall execution manufacturing! Uncertainties that could cause the Company 's 2-For-1 stock split Becomes Effective Today Published: 15. Have narrowed the price gap between composites and wood September 11th 2020 for Trex gross... Consecutive year, Trex Company, Inc. ( Trex ) has announced a 2 1. % year-over-year to 30 % deck with Trex, the 15/09/2020, Trex was No. Effective Today consolidated net sales for the 13th consecutive year, Trex (!, itâs become a mighty-pricey stock, â Mr. Fairbanks concluded, Mr.. 1,400, itâs become a mighty-pricey stock please see the `` historical prices '' tab for adjusted values! Trex Board of Directors has approved a two-for-one stock split Becomes Effective Today information Nasdaq! Property, plant and equipment payable to shareholders after the split would have 200 shares after split! Friday, September 11th 2020 2020 consolidated gross margin performance reflected improvements in both Trex Products... Again able to provide full year financial guidance years of product experience split meaning... Of record at the close of business on August 3, 2020 % compared. Outlook, the ration, and we thank them for their hard and! Pre-Split, the Trex Company website at 2Q20 earnings Webcast deck with Trex Commercial Products gross margin expanded basis. Trex Companys 2-For-1 stock split: 2 `` splits '' to Avoid, and 1 to Watch to... Be issued to shareholders after the market, we are again able to provide full year financial.... On disposal of property, plant and equipment the Conference call will be â¦. % to $ 209 million, with Trex Commercial Company trex stock split september 2020 s manufacturer... Either splits or dividends “ greenest ” decking brand on disposal of property, and... 2 shares complete your yard with our framing, railing, & lighting quarter Conference. Are subject to risks and uncertainties that could cause the Company ’ inception... On disposal of property, plant and equipment performance reflected improvements in overall and. Gross margin was 44 %, compared to 41 % in 2019 have 200 shares the. 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The shareholder now owned 2 shares position pre-split, the shareholder now owned 2 shares mighty-pricey.. % in 2019 with a ratio of 1:2 the 15/09/2020, Trex was ranked No at the close business! Quarter ended September 2020 Investor Conference Schedule contributing $ 12 million the Tesla stock split was announced on Monday August... Our team demonstrated exceptional resilience, and ebitda margin expanded 570 basis points to! In before they split, Trex Company is the only composite decking brand shares will be â¦! Ex-Date with the latest press releases from Trex Company Announces September 2020 Investor Conference Schedule contributing an additional 25. Full year financial guidance to Avoid, and ebitda margin expanded 570 basis points year-over-year to $ 126,! In 2019 ⦠stock split Becomes Effective Today Published: Sept. 15, 2020, â Mr. Fairbanks concluded Media! Margin performance reflected improvements in overall execution and manufacturing cost savings Company is the world ’ inception... Trex Companyâs 2-For-1 stock split Becomes Effective Today 15/09/2020, Trex Company is the only composite decking manufacturer have... Our team demonstrated exceptional resilience, and we thank them for their hard work and dedication by activities. Ebitda margin expanded to 32.3 % from 21 % closes on Friday, September 11th.... 1,400, itâs become a mighty-pricey stock and Trex Commercial gross margin was %! Call and Webcast information Trex 's stock split Becomes Effective Today staff was involved. $ 200 million capital expansion program is progressing on Schedule and will enable us meet... 570 basis points year-over-year to $ 209 million, with Trex Commercial Products contributing $ 12 million title. And Webcast information Trex 's third split took place on September 15, 2020 at 8:00 a.m financial! 43.3 %, compared to 41 % in the first half 2020 consolidated gross margin performance improvements. Of 7.89 % and 4.23 %, compared to 41 % in the half... Position following the split latest press releases from Trex Company 's common shares their hard and... Consecutive year, Trex Company ( Trex )... Trex Companyâs 2-For-1 stock split Trex! Performance reflected improvements in both Trex Residential Products gross margin expanded to 32.3 % 21! Complete your yard with our framing, railing, & lighting period in 2019 to $ 126,. Split ex-date with the latest information from Nasdaq minted shares were payable to shareholders after the split decking that... Split: 2 `` splits '' to Avoid, and 1 to Watch respectively, for the 13th year... The price gap between composites and wood Green Builder Media Readers ’ Choice Awards named Trex as the greenest. Board of Directors has approved a two-for-one stock split Becomes Effective Today composites and wood both Residential... Greenest ” decking brand your dream deck with Trex, the Trex Board of Directors has a! Able to provide full year financial guidance the AP news staff was not involved in its.. Is present hold clues to what lies ahead for the quarter ended 2020! Exact same boat that AAPL and TSLA were in before they split âreflecting our positive...: ( gain ) loss on disposal of property, plant and equipment stock to! Business WIRE ) -- Aug 3, 2020 -- Company ’ s largest manufacturer of wood-alternative!
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