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Trex Company Reports Fourth Quarter and Full Year 2020 Results
─ 40% Residential Product Sales Growth in the Fourth Quarter
─ Record Cash from Operations of $187 Million in Full Year 2020
─ Strong Double-Digit Sales Growth Expected for Full Year 2021
─ First Quarter Sales Expected at $235 million to $245 million, Up 20% at the Midpoint
Fourth Quarter 2020 Highlights
- Consolidated net sales increased 39% to $228 million
- Gross margin of 40.5%
- Diluted earnings per share of $0.37
- EBITDA margin of 27.9%
Full Year 2020 Highlights
- Consolidated net sales increased 18% to $881 million; Trex Residential net sales up 19%
- Gross margin of 40.8%; excluding the warranty reserve charge, consolidated gross margin of 41.5%
- Diluted earnings per share of $1.51 per share; excluding the warranty reserve charge, diluted earnings per share of $1.55
- EBITDA margin of 28.6%, excluding the warranty reserve charge, EBITDA margin of 29.3%
WINCHESTER, Va.--(BUSINESS WIRE)--February 22, 2021--Trex Company, Inc. (NYSE:TREX), the world’s #1 brand of composite decking and railing and leader in high-performance, low-maintenance and eco-friendly outdoor living products and a leading national provider of custom-engineered commercial railing systems, today reported financial results for the fourth quarter and full year ended December 31, 2020.
“During one of the most challenging business periods in recent history, 2020 was another record year for Trex as we successfully managed through the rapidly changing COVID-19 pandemic and delivered strong financial results without interruption to our operations. Our performance demonstrates the broad-based appeal of our products, the resilience of our company and the strength of our collaborative culture within our organization and with our dealer, retailer, distributor and contractor partners. These attributes will drive our Company’s future success, and I thank all members of the Trex team for their dedication and extraordinary efforts,” noted Bryan H. Fairbanks, President and Chief Executive Officer.
The following information was filed by Trex Co Inc (TREX) on Monday, February 22, 2021 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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