Reported 1 day ago
Trex Co., a manufacturer of composite building materials, saw its stock plummet nearly 30% after reporting disappointing quarterly results and a lowered outlook amid a slowdown in housing material spending. The company's CEO attributed the decline to persistent weak market conditions in the repair and remodeling sector, expecting this trend to continue into the fourth quarter. Third-quarter earnings fell short of estimates, leading Trex to revise its sales and EBITDA forecasts downwards for 2025.
Source: YAHOO