TREX / Trex Company stock higher on 3Q earnings beat; boosts guidance

Trex (TREX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy). more_horizontal

Bryan Fairbanks, Trex CEO, joins 'The Exchange' to discuss the company's higher shares, the state of the home improvement market, and more. more_horizontal

Trex (NYSE:TREX) Company Inc shares rose 4% to $57.30 in early Tuesday trading after the provider of eco-friendly decking and railing reported third more_horizontal

Trex Company, Inc. (NYSE:TREX ) Q3 2023 Earnings Conference Call October 30, 2023 5:00 PM ET Company Participants Viktoriia Nakhla - IR Bryan Fairbank more_horizontal

Trex (TREX) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of more_horizontal

The building materials stock soared after its last earnings release, but macro data has been rough since then. Building activity seems to be slowing t more_horizontal

Trex (TREX) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall more_horizontal

Trex CEO Bryan Fairbanks says customers are really focusing on building up heir outdoor spaces, so much so, he says the company sees a $13.7 billion o more_horizontal