EBITDA increased 34.9% to $126 million, and EBITDA margin expanded 570 basis points year-over-year to 30%. September 14, 2020. Build your dream deck with Trex, the world's best high-performance composite decking brand. From MarketWatch. Trex Company's 2-For-1 Stock Split Becomes Effective Today. 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. 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. EBITDA increased 32% to $67.5 million, and EBITDA margin expanded to 30.6% from 24.8% in the second quarter of 2019. Tickers AAON AAPL ACM AGX. endobj 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. Trex Company Wins 2020 Sustainability Award for Organizational Leadership. <> 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 2-1 split was announced on Monday, August 3rd 2020. Tweet Share E-mail. endobj endobj Business Wire. ... Trex Companys 2-For-1 Stock Split Becomes Effective Today. Find the latest press releases from Trex Company, Inc. Common Stock (TREX) ... Trex Company’s 2-For-1 Stock Split Becomes Effective Today. Trex Stock. “Reflecting our continued positive outlook, the Trex Board of Directors has approved a 2-for-1 stock split of the Company’s common shares. PRESS RELEASE Businesswire . <>stream ... Trex Company Inc (TREX) Q3 2020 Earnings Call Transcript ... the third quarter of 2019 adjusted for the stock split … In an unprecedented 10-year streak, Green Builder Media Readers’ Choice Awards named Trex as the “greenest” decking brand. TREX COMPANY, INC. - 2 FOR 1 STOCK SPLIT OPTION SYMBOL: TREX August 04, 2020. 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. 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. 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. A few days later and with a lot less fanfare, Trex Company Inc (NYSE:TREX) also announced an upcoming stock split. Tickers TREX. Detailed statistics for Trex Company (TREX) stock, including valuation metrics, financial numbers, share information and more. 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. For more information, visit trex.com. 4 0 obj 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. The 2-1 split was announced on Monday, August 3rd. Reflecting our positive outlook, the Trex Board of Directors has approved a two-for-one stock split of the company's common shares. %PDF-1.7 “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. Today, the 15/09/2020, Trex Company, Inc. (TREX) underwent a stock split with a ratio of 1:2. 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. Detailed statistics for Trex Company (TREX) stock, including valuation metrics, financial numbers, share information and more. <>stream 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. 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. ... Trex Company’s 2-For-1 Stock Split … ... September 01, 2020. 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. Tags MTH Retail BLD. Net sales for the first half of 2020 were $421 million, 9% above the $386 million reported for the comparable period in 2019. “Reflecting our continued positive outlook, the Trex Board of Directors has approved a 2-for-1 stock split of the Company’s common shares. 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. 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. Trading for nearly $1,400, it’s become a mighty-pricey stock. ... Trex Company Announces September 2020 Investor Conference Schedule. ... Trex Company Announces September 2020 Investor Conference Schedule. For example, a 4000 share position pre-split, became a 8000 share position following the split. For the 13th consecutive year, Trex was ranked No. Trex Commercial gross margin reflected quarter-specific project mix, as well as improvements in overall execution and manufacturing cost savings. Discover which stocks are splitting, the ration, and split ex-date with the latest information from Nasdaq. ... Trex Company Announces September 2020 Investor Conference Schedule. 17 0 obj Trex Residential Products sales were up 10% to $396 million, with Trex Commercial Products contributing an additional $25 million. Trex is the only composite decking manufacturer to have held this title since the program’s inception in 2009. 1 0 obj 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. xœ½\kOIýŽÄhiWZ{Š®wwE ET Trex Company’s 2-For-1 Stock Split Becomes Effective Today. Tickers NOG TREX TSLA WLL. 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. 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. 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. 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 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. GlobeNewswire. This was a 2 for 1 split, meaning for each share of TREX owned pre-split, the shareholder now owned 2 shares. Saturday, August 29, 2020 | MarketBeat Trex Company Inc (NYSE:TREX)'s stock is going to split on Monday, September 14th. 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. 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. endobj “Reflecting our continued positive outlook, the Trex Board of Directors has approved a 2-for-1 stock split of the Company’s common shares. 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.Let’s hope this is a signal the drought in stock splits is coming to an end. 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. endstream In addition, Trex brand received the best Brand Index score for the decking category – a new addition to the Green Builder program for 2020. If stock splits are making a comeback, it … Sep. 8, 2020, 02:00 PM. “Strong second quarter results demonstrated continued broad-based demand for Trex decking and railing products reinforcing our leadership position in outdoor living. Trex Company’s 2-For-1 Stock Split Becomes Effective Today. 7 0 obj Please see the "Historical Prices" tab for adjusted price values. After the Tesla Stock Split: 2 "Splits" to Avoid, and 1 to Watch. Our team demonstrated exceptional resilience, and we thank them for their hard work and dedication. The newly minted shares will be issued to shareholders after the closing bell on Friday, September 11th. On August 3, 2020, the Company announced Board approval for a 2-for-1 stock split. The Payable Date is September 14, 2020. September 15, 2020 08:00 AM Eastern Daylight Time. All positions were amended as per normal when a stock split is present. Find out which publicly traded stocks are splitting each month, the split ratio, … Business Wire. %âãÏÓ Reconciliation of net income (GAAP) to EBITDA (non-GAAP) is as follows: EBITDA as a percentage of net sales (EBITDA margin). <> The Ex-distribution Date is September 15, 2020. Stock split history for Trex since 1999. Consolidated net sales for the second quarter of 2020 were $221 million, 7% ahead of the comparable period in 2019. Press Release Trex Company’s 2-For-1 Stock Split Becomes Effective Today Published: Sept. 15, 2020 at 8:00 a.m. “Our $200 million capital expansion program is progressing on schedule and will enable us to meet continued demand growth. TREX's third split took place on September 15, 2020. With improved clarity in the market, we are again able to provide full year financial guidance. “Our gross margin performance reflected improvements in both Trex Residential and Trex Commercial. <>/Metadata 2 0 R/ViewerPreferences 6 0 R>> Trex's stock split before market open on Monday, September 14th 2020. “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. 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. Trex Company, Inc. (TREX) has announced a 2 for 1 stock split. ... September 8, 2020 8:00 AM EDT. 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. Trex Company, Inc. (TREX) has announced a 2 for 1 stock split. Complete your yard with our framing, railing, & lighting. An investor that had 100 shares of Trex stock prior to the split would have 200 shares after the split. Trex Residential Products gross margin was 44%, compared to 41% in the first half of 2019. A live webcast of the conference call will be available in the Investor Relations section of the Trex Company website at 2Q20 Earnings Webcast. The stock split will be in … Trex Residential Products sales increased 8% year-over-year to $209 million, with Trex Commercial Products contributing $12 million. 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 … 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. “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. 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. SG&A was $29 million, or 13.2% of sales, compared to 17.3% of sales in the year ago quarter. The Ex-distribution Date is September 15, 2020. Do the numbers hold clues to what lies ahead for the stock? ‰È†gwFÉ~p É°pƆUåv™ÛD±ۏsßuÏ­²³ýwÙ³gû'‡ÇGYþüyvpt˜ýµ»“³ÿ•\dyfà֖"W»;ÿù%»ÝÝ9ìîìÿÊ3Ír• ®vw8¼,Ïx& +Mf`&ÜÀ‹^Ûìó>0ûìÓG¯vw>ô²þ³Áëݝ—ðqÿÚÝÉ^žfق@, TREX COMPANY, INC. - 2 FOR 1 STOCK SPLIT OPTION SYMBOL: TREX. ... Why Trex Stock Fell Today. WINCHESTER, Va.--(BUSINESS WIRE)--Aug 3, 2020--. Stock Split Calendar ; Ratings. 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. Press release content from Business Wire. First half 2020 consolidated gross margin was 43.3%, compared to 39.6% in 2019. The last stock split was on September 15, 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. “First half results give us confidence that 2020 will be another year of strong growth for Trex. The Payable Date is September 14, 2020. Trex Commercial Products gross margin expanded to 32.3% from 21%. Prices shown are actual historical values and are not adjusted for either splits or dividends. 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. These statements are subject to risks and uncertainties that could cause the Company’s actual operating results to differ materially. 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