A 'Weaker Market' Has This Housing Materials Maker's Stock Down 30%
Trex's Q3 results missed expectations, causing a 28% drop in shares. Weaker housing market conditions are expected to persist, impacting demand. Full-year outlook stagnates, projecting no growth versus previous estimates. EBITDA guidance was significantly reduced from over 31% to below 29%. Repair and remodeling sector continues to face constraints from higher rates.
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