Trex Company Adjusts FY24 Sales Guidance To Reflect Softness In Entry-Level Consumer Demand And Uncertain Economic Outlook; Cuts Range From $1.215B - $1.235B To $1.13B - $1.15B, Est $1.242B
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Trex Company has adjusted its FY24 sales guidance due to softness in entry-level consumer demand and an uncertain economic outlook. The company has cut its sales range from $1.215B - $1.235B to $1.13B - $1.15B, which is below the estimated $1.242B.
August 06, 2024 | 9:10 pm
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Trex Company has revised its FY24 sales guidance downward due to weak entry-level consumer demand and economic uncertainty. The new sales range is $1.13B - $1.15B, which is below the estimated $1.242B.
The downward revision in sales guidance indicates potential challenges for Trex Company in the near term, likely leading to a negative impact on its stock price. The new guidance is below market expectations, which could result in investor concern.
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