Why Shares of Trex Are Falling Today
Shares of Trex Co. (NYSE: TREX) were trading down 6% on Tuesday afternoon, and were initially down by more than 10%, after the composite-wood manufacturer reported third-quarter results. The company generated earnings that came in ahead of consensus, but revenue was a little light, and Trex signaled a seasonal slowdown heading into the fourth quarter.
After markets closed Monday, Trex reported third-quarter earnings of $0.72 per share, ahead of the $0.68 consensus, despite revenue that at $195 million was nearly $15 million shy of expectations.
Image source: Trex.
Source Fool.com
