![]() “With our strong free cash flow generation and confidence in the Company’s long term growth prospects, we continued our share buyback program. In September and October, we strengthened our best-in-class distribution network by adding two additional distribution locations to service and expand the availability of Trex outdoor living products in the fast-growing Texas market. Launched nationally in the second quarter, Trex Transcend® Lineage™ decking garnered positive feedback from channel partners and consumers, underscoring our reputation for innovation that meets the evolving needs of the marketplace. “At the same time, we continued to support our long-term growth trajectory by expanding our distribution network, investing in our brand and commercializing new products that broaden our market opportunity. While reducing our employee base, we have retained our most experienced manufacturing talent, preserving our ability to quickly and efficiently ramp up production as demand rebounds,” said Bryan Fairbanks, President and CEO of Trex. Responding quickly to this dynamic, Trex immediately took measures to reduce production levels, right size our employee base, and implement cost efficiency programs. “Third quarter sales and EBITDA were in line with our expectations which we signaled last quarter, as our channel partners were able to meet demand requirements through drawdowns of existing inventory. Net income of $15 million diluted earnings per share of $0.14, excluding severance chargesĮBITDA was $32 million EBITDA margin of 17.0%, excluding severance charges (NYSE:TREX), the world’s #1 brand of high-performance, low-maintenance and eco-friendly composite decking, railing and outdoor living products and a leading national provider of custom-engineered commercial railing systems, today reported third quarter 2022 results and year-to-date performance. WINCHESTER, Va.–(BUSINESS WIRE)–Trex Company, Inc. Reaffirms Fourth Quarter Revenue and EBITDA Margin Guidance Revenue and EBITDA Results Consistent with Expectations
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |