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Trex Company Reports Fourth Quarter and Full Year 2018 Results
-- Strong Fourth Quarter Results Drive another Year of Record Sales and Earnings for Trex --
-- Current Demand Trends Set the Stage for Continued Growth in 2019 --
Fourth Quarter Highlights
- Consolidated net sales increased 15% to $140 million
- Consolidated gross margin expanded 110 basis points to 42.8%
- Consolidated earnings increased 39% to $0.43 per share
Full Year 2018 Highlights
- Consolidated sales up 21% to $684 million; Residential sales up 13%
- Residential Products gross margin expanded to 45.6%
- Consolidated earnings per share increased by 42% to $2.28
WINCHESTER, Va.--(BUSINESS WIRE)--February 14, 2019--Trex Company, Inc. (NYSE: TREX), the world’s number-one brand of decking and railing and leader in high-performance, low-maintenance outdoor living products, and a leading national provider of custom-engineered railing systems, today reported financial results for the fourth quarter and full year ended December 31, 2018.
Fourth Quarter 2018 Results
Consolidated net sales for the fourth quarter of 2018 increased 15% to $140 million. Trex Residential Products net sales were up 11% to $122 million, and Trex Commercial Products contributed an additional $18 million, up 43% over the prior year’s fourth quarter. Consolidated gross margin for the quarter was 42.8%. Residential Products gross margin expanded 50 basis points to 46.4%. Commercial Products gross margin increased year-over-year to 18.4% in the fourth quarter but was lower sequentially due to reduced profitability of certain legacy contracts. SG&A was $28 million, or 19.7% of sales, inclusive of higher R&D spending related to the launch of the new Trex Enhance® product line and compares favorably with last year’s $26 million, or 20.9% of sales.
The following information was filed by Trex Co Inc (TREX) on Thursday, February 14, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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