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Trex Company Reports Fourth Quarter and Full Year 2019 Results
--Record Fourth Quarter and Full Year Revenue and Earnings--
--Strong Double-Digit Sales Growth Expected for 2020 Tied to Ramp-up of Additional Capacity--
--First Quarter 2020 Revenue Expected at approximately $200 Million, 11% Ahead of 2019 Levels--
-- Names Bryan H. Fairbanks President & CEO; James E. Cline appointed Chairman--
Fourth Quarter 2019 Highlights
- Consolidated net sales were $165 million, an increase of 18%; Trex Residential net sales were up 25%
- Consolidated gross margin of 43.2%, up 40 basis points
- Consolidated earnings per share of $0.61 per share, up 42%
Full Year 2019 Highlights
- Consolidated net sales were $745 million; Trex Residential net sales were up 13%
- Consolidated gross margin of 41.1%
- Consolidated diluted earnings per share of $2.47
WINCHESTER, Va.--(BUSINESS WIRE)--February 24, 2020--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 provider of custom-engineered railing systems, today reported financial results for the fourth quarter and full year ended December 31, 2019.
Fourth Quarter 2019 Results
Consolidated net sales for the fourth quarter of 2019 were $165 million, 18% ahead of the comparable period in 2018. Trex Residential Products net sales increased 25% to $153 million, and Trex Commercial Products contributed $12 million to consolidated fourth quarter sales. Consolidated gross margin for the quarter was up 40 basis points to 43.2%, representing gross margins from Trex Residential and Trex Commercial of 44.6% and 26.3%, respectively. SG&A was $25 million, or 15.2% of net sales.
The following information was filed by Trex Co Inc (TREX) on Monday, February 24, 2020 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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