Eleventh Consecutive Quarter of Record Revenue; Sixth Consecutive Quarter of Record Revenue and Net Income
–Strong Second Quarter Performance Brings First Half Sales Growth to 25% –
–Third Quarter Sales Expected to Increase 23% –
Second Quarter Highlights
Consolidated net sales increased 31% to $207 million
Consolidated gross margin of 44.1%
Consolidated earnings increased 49% to $0.73 per share
“Brand strength, increasing category gains and strong consumer sentiment combined to drive exceptional second quarter growth across key metrics. Trex Residential Products led the way with a substantial year-over-year revenue gain, reflecting a high level of consumer engagement on our website and the positive point of sale data reported by our channel partners. Our channel partners continue to execute and meet the increasing demand for Trex Residential Products and have adapted their supply chain management practices to accelerate purchases to overcome a tight freight market. Residential Products posted a 30 basis point year-over-year increase in gross margin, which reflected ongoing cost savings initiatives and other efficiencies that more than offset development costs for product and manufacturing process innovation, and increased freight expenses. We are also pleased with the progress of Trex Commercial Products, as revenue increased 9% and gross margin expanded by 690 basis points compared to first quarter levels, both in line with our expectations,” noted James E. Cline, President and Chief Executive Officer.
Trex Company Reports Record Second Quarter 2018 Results | Trex Company Inc – IR Site
