Trex Co. Inc. (NYSE:TREX) Q2 2020 Earnings Conference Call - Final Transcript

Aug 03, 2020 • 05:00 pm ET

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Trex Co. Inc. (NYSE:TREX) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to the Trex Company Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Please also note this event is being recorded.

I would now like to turn the conference over to Viktoriia Nakhla. Please go ahead.

Executive
Viktoriia Nakhla

Thank you all for joining us today. With us on the call are Bryan Fairbanks, President and Chief Executive Officer; and Dennis Schemm, Vice President and Chief Financial Officer. Joining Bryan and Dennis is Bill Gupp, Senior Vice President, General Counsel and Secretary, as well as other members of Trex management. The company issued a press release today after market close containing financial results for the second quarter 2020. This release is available on the company's website. This conference call is also being webcast and will be available on the Investor Relations page of the company's website for 30 days.

I would now like to turn the call over to Bill Gupp. Bill?

Executive
William R. Gupp

Thank you, Viktoriia. Before we begin, let me remind everyone that statements on this call regarding the company's expected future performance and conditions constitute forward-looking statements within the meaning of Federal securities laws. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements.

For a discussion of such risks and uncertainties, please see our most recent Form 10-K and Form 10-Qs as well as our 1933 and other 1934 Act filings with the SEC. Additionally, EBITDA will be referenced in this call and is considered a non-GAAP measure. A reconciliation of EBITDA to net income can be found in our earnings press release at trex.com. 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.

With that introduction, I will turn the call over to Bryan Fairbanks.

Executive
Bryan H. Fairbanks

Thank you, Bill. Good afternoon, everyone. We welcome you to our second quarter 2020 earnings call.

Before we get into the quarter results, let me take a moment to thank the people who made this quarter's success possible. First, I commend the entire Trex team for their hard work and dedication to ensure we maintained continuous operations and we were able to sell our products in a safe and effective manner during the COVID-19 pandemic. We are also immensely grateful to our channel partners who in no small part contributed to the success we have seen this year. Despite the unprecedented challenges arising from the pandemic, they found ways to serve customers and keep their employees safe. Thank you again to the extended Trex team.

We continue to drive improvements across the company with the focus on health and safety of our employees, the needs of our customers and operational excellence. This disciplined approach allows us to execute through a challenging macro environment while we continue to invest in the future and generate further shareholder value. By all measures, this was a strong quarter for Trex. We increased revenue by 7%. It's fair