A sturdy Q4 for Trex
Decking and railing manufacturer Trex reported consolidated net sales increased 15% to $140 million for the fourth quarter 2018 from sales of $122 million in the fourth quarter of 2017.
Consolidated sales for the year rose 21% to $684 million from sales of $565 million in 2017.
In the fourth quarter, Trex residential product sales grew 11% to $122 million while commercial product sales rose 43% and contributed an additional $18 million, Trex said. Residential product sales increased 13% to $613 million for the year.
The Herndon, Va.-based company posted a net income of $25 million for the quarter, up 38% from a net income of $18 million during the same period a year ago. For the full year, Trex’s net income increased 41% to $135 million.
Fourth quarter results benefitted from double digit-revenue growth in both Trex Residential Products and Trex Commercial Products, reflecting strong demand across our professional and retail channels, as well as continued growth in our stadium and staging operations,” said James Cline, Trex president and CEO.
Looking ahead, and at recent product launches, Cline noted that the company expects a strong performance in 2019.
“We expect the recent launch of our newly re-engineered and expanded line of Trex Enhance composite decking across both the pro and retail channels to propel Trex to reach a much broader market of customers. With its affordable price points and low-maintenance attributes, we believe Trex Enhance will accelerate the conversion from wood to composites,” he said.
Consolidated sales for the year rose 21% to $684 million from sales of $565 million in 2017.
In the fourth quarter, Trex residential product sales grew 11% to $122 million while commercial product sales rose 43% and contributed an additional $18 million, Trex said. Residential product sales increased 13% to $613 million for the year.
The Herndon, Va.-based company posted a net income of $25 million for the quarter, up 38% from a net income of $18 million during the same period a year ago. For the full year, Trex’s net income increased 41% to $135 million.
Fourth quarter results benefitted from double digit-revenue growth in both Trex Residential Products and Trex Commercial Products, reflecting strong demand across our professional and retail channels, as well as continued growth in our stadium and staging operations,” said James Cline, Trex president and CEO.
Looking ahead, and at recent product launches, Cline noted that the company expects a strong performance in 2019.
“We expect the recent launch of our newly re-engineered and expanded line of Trex Enhance composite decking across both the pro and retail channels to propel Trex to reach a much broader market of customers. With its affordable price points and low-maintenance attributes, we believe Trex Enhance will accelerate the conversion from wood to composites,” he said.