Trex Company Hosts Investor Day in New York
07 Settembre 2023 - 10:15PM
Business Wire
Announces 5-Year Net Sales, EBITDA and
EBITDA Margin Targets
Trex Company, Inc. (NYSE:TREX), the world’s #1 brand of
high-performance, low-maintenance and eco-friendly composite
decking and railing and a leader in outdoor living products, today
hosted its previously announced 2023 Investor Day in New York,
NY.
At the event, President and CEO, Bryan Fairbanks laid out the
company’s five-year financial targets for organic growth:
For Full Year 2028
- Net sales of $1.8 billion to $1.9 billion
- EBITDA doubling to $600 million+
- EBITDA margin of improvement of 500 bps to approximately
34%
A copy of the Investor Day presentation including these details
is available in the “Investor Relations” section of the Company’s
website.
“As the industry leader, Trex continues to capitalize on its key
competitive advantages, namely our unparalleled brand recognition,
our exceptional distribution and channel partner network, and our
industry-leading, low-cost manufacturing operation. Our five-year
growth targets are supported by the ongoing strength of the outdoor
living category, accelerated conversion from wood, substantial
growth opportunities in railing, as well as expansion of our
comprehensive product portfolio that includes fasteners, cladding,
and fencing, together with the substantial leverage inherent in the
Trex business model,” Mr. Fairbanks noted.
About Trex Company
For more than 30 years, Trex Company [NYSE: TREX] has invented,
reinvented and defined the composite decking category. Today, the
Company is the world’s #1 brand of sustainably made,
wood-alternative decking and deck railing – all proudly
manufactured in the U.S.A. – and a leader in high performance,
low-maintenance, eco-friendly outdoor living products. Trex boasts
the industry’s strongest distribution network with products sold
through more than 6,700 retail outlets across six continents.
Through strategic licensing agreements, the Company offers a
comprehensive outdoor living portfolio that includes deck drainage,
flashing tapes, LED lighting, outdoor kitchen components, pergolas,
spiral stairs, lattice, cornhole and outdoor furniture – all
marketed under the Trex® brand. Based in Winchester, Va., Trex is
proud to have been named 2023 America’s Most Trusted® Decking
Brand* and one of 2022’s 50 Best U.S. Manufacturers by Industry
Week. For more information, visit trex.com. You also can follow
Trex on LinkedIn (https://www.linkedin.com/company/trex-company/),
X (@Trex_Company), Instagram (@trexcompany), Pinterest
(trexcompany) or Houzz (trexcompany-inc), “like” Trex on Facebook
(@TrexCompany) or view product and demonstration videos on the
brand’s YouTube channel (TheTrexCo).
*2023 DISCLAIMER: Trex received the highest numerical score in
the proprietary Lifestory Research 2023 America’s Most Trusted®
Outdoor Decking study. Study results are based on experiences and
perceptions of people surveyed. Your experiences may vary. Visit
www.lifestoryresearch.com.
Use of Non-GAAP
Information
The financial target information provided in this press release
includes the forward-looking non-GAAP financial measures of
earnings before interest, taxes, depreciation and amortization
(EBITDA) and EBITDA as a percentage of net sales (EBITDA margin),
which management uses in measuring performance. The Company
believes non-GAAP EBITDA and EBITDA margin provide useful
information to investors and others in understanding and evaluating
its results of operations, as well as provides a useful measure for
period-to-period comparisons of the Company’s business performance.
The Company calculates forward-looking non-GAAP EBITDA and EBITDA
margin based on internal forecasts that omit certain amounts that
would be included in forward-looking GAAP net income (loss). The
Company is not able to provide a reconciliation of forward-looking
non-GAAP EBITDA and EBITDA margin guidance to forward-looking GAAP
net income (loss) because forecasting the exact timing or impact of
items, including without limitation, the impact of macroeconomic,
industry and operational changes through 2028, that have not yet
occurred and are out of its control is inherently uncertain and
unavailable without unreasonable efforts. Further, the Company
believes that such reconciliations would imply a degree of
precision and certainty that could be confusing to investors and
could have a substantial impact on GAAP measures of financial
performance.
Forward-Looking
Statements
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. These statements are subject to risks and
uncertainties that could cause the Company’s actual operating
results to differ materially. 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; increasing inflation in
the macro-economic environment; 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 EU General Data Protection
Regulation and the related actual or potential costs and
consequences; material adverse impacts from global public health
pandemics and global conflicts; and material adverse impacts
related to labor shortages or increases in labor costs. It is
routine for the Company’s internal projections and expectations to
change as the year or years progress, and therefore it should be
clearly understood that the internal projections, beliefs and
assumptions upon which the Company based its financial targets
disclosed in this press release may change prior to the end of the
period included in the guidance provided. Documents filed with the
U.S. 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. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230906548724/en/
Lynn Morgen/Viktoriia Nakhla ADVISIRY Partners
212-750-5800
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