Trex Co Inc Files 10-Q for Q3 2024

TL;DR

Trex's Q3 2024 10-Q is in. Financials and operational details are out.

AI Summary

Trex Company, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates. Key financial data points and disclosures related to liabilities, stock, and warranty reserves are included, providing insight into the company's financial health and strategic positioning.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look at Trex's financial standing and operational activities during the third quarter of 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information, including liabilities and stock-related disclosures, which are critical for assessing the company's financial health and potential risks.

Key Numbers

• Q3 2024 — Reporting Period (The specific quarter for which the 10-Q provides financial data.)
• 1231 — Fiscal Year End (Indicates the end of Trex's annual fiscal year.)

Key Players & Entities

• TREX CO INC (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241028 (date) — Filing date
• WINCHESTER, VA (location) — Company's business and mailing address
• 5405426300 (phone_number) — Company's business phone number

FAQ

Key Financial Figures

• $0.01 — he registrant's common stock, par value $0.01 per share, outstanding at October 14, 2

Filing Documents

• trex-20240930.htm (10-Q) — 1722KB
• trex-ex10_3.htm (EX-10.3) — 42KB
• trex-ex10_4.htm (EX-10.4) — 48KB
• trex-ex10_5.htm (EX-10.5) — 51KB
• trex-ex31_1.htm (EX-31.1) — 14KB
• trex-ex31_2.htm (EX-31.2) — 14KB
• trex-ex32.htm (EX-32) — 11KB
• img244664770_0.jpg (GRAPHIC) — 5KB
• 0000950170-24-117783.txt ( ) — 6257KB
• trex-20240930.xsd (EX-101.SCH) — 817KB
• trex-20240930_htm.xml (XML) — 891KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 2 Item 1. Condensed Consolidated Financial Statements 2 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and September 30, 2023 (unaudited) 2 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and September 30, 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and September 30, 2023 (unaudited) 5 Notes to Condensed Consolidated Financial Statements (unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 26

OTHER INFORMATION

PART II OTHER INFORMATION 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 5. Other Information 27 Item 6. Exhibits 28 1 PA RT I FINANCIAL INFORMATION

Condensed C onsolidated Financial Statements

Item 1. Condensed C onsolidated Financial Statements TREX COMPANY, INC. Condensed Consolidated Sta tements of Comprehensive Income (Unaudited) (In thousands, except share and per share data) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 233,717 $ 303,836 $ 983,822 $ 899,092 Cost of sales 140,512 172,941 552,896 517,321 Gross profit 93,205 130,895 430,926 381,771 Selling, general and administrative expenses 38,901 44,532 140,708 133,694 Income from operations 54,304 86,363 290,218 248,077 Interest income (expense), net ( 5 ) ( 734 ) ( 11 ) 2,555 Income before income taxes 54,309 87,097 290,229 245,522 Provision for income taxes 13,756 21,831 73,609 62,089 Net income $ 40,553 $ 65,266 $ 216,620 $ 183,433 Basic earnings per common share $ 0.37 $ 0.60 $ 2.00 $ 1.69 Basic weighted average common shares outstanding 108,258,401 108,583,009 108,529,825 108,707,699 Diluted earnings per common share $ 0.37 $ 0.60 $ 1.99 $ 1.69 Diluted weighted average common shares outstanding 108,379,416 108,702,495 108,659,118 108,829,374 Comprehensive income $ 40,553 $ 65,266 $ 216,620 $ 183,433 See Notes to Condensed Consolidated Financial Statements (Unaudited). 2 TREX COMPANY, INC. Condensed Consolid ated Balance Sheets (In thousands, except share data) September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 12,838 $ 1,959 Accounts receivable, net 140,060 41,136 Inventories 187,935 107,089 Prepaid expenses and other assets 11,885 22,070 Total current assets 352,718 172,254 Property, plant and equipment, net 852,912 709,402 Operating lease assets 36,110 26,233 Goodwill and other intangible assets, net 19,386 18,163 Other

View Full Filing

View this 10-Q filing on SEC EDGAR