President, Chief Executive Officer & Director, Terex
Search every verified Simon Meester interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2020 interview on CNBC's "The Exchange," Trex CEO Brian Fairbanks discussed the company's growth and demand for composite decking. Fairbanks stated that Trex's revenue grew at a 14 percent annual rate since 2015, with EBITDA increasing by 20 percent over the same period. He attributed recent demand partly to people moving from cities to suburbs and seeking outdoor living spaces, but said he did not think the growth was "simply because of the COVID pandemic." Fairbanks noted that only about 20 percent of decking currently uses Trex composite products, describing a "large conversion opportunity from wood to composite products." Fairbanks also addressed production capacity, saying Trex announced a capacity expansion in mid-2019, with new capacity coming online in June 2020 and a larger amount expected in early 2021 at its Virginia facility. He acknowledged the company would like to have more capacity but stated it was "well down the road to building more capacity to service that expanded demand."
“Since 2015, we've grown our revenue at a 14 percent annual rate, and during that same time we've grown our EBITDA by 20 percent, so it's been impressive growth in the past.”
“Today, only about 20 percent of decking is used with Trex composite products, so as we move forward, we see a large conversion opportunity from wood to composite products.”
“We announced a capacity expansion in mid-2019, with new capacity coming online in June 2020 and a larger amount expected in early 2021 at our Virginia facility to meet expanded demand.”
“We would like to have more capacity today, absolutely, but we're well down the road to building more capacity to service that expanded demand.”
Brian Fairbanks, CEO of Trex, joins CNBC's "The Exchange" to discuss the strength of home improvement trade amid the ...
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