Trex sales up 18% in Q1
Strong early season demand in a growing category lifts the deck and railing company.
Winchester, Va.-based Trex reported a consolidated net sales increase of 18% to $171 million in the first quarter of 2018. Net income jumped 33% to $37 million.
The company pointed to several factors for the positive sales momentum, including a strong early buy season for residential products, and improvement in Trex Commercial product performance.
"Excellent brand positioning in a growing category and strong early season demand underpin our confidence heading into 2018," said James Cline, president and CEO of Trex. He added that the company is pleased with the "cross-product development and cross-selling opportunities that are emerging between our Residential and Commercial operations."
Trex entered the commercial market in mid-2017 with the acquisition of the SC Company.
Trex expects net sales of $191 million in the second quarter -- $174 million from residential, and $17 million from commercial.
The company also announced a 2-for-1 stock split
The company pointed to several factors for the positive sales momentum, including a strong early buy season for residential products, and improvement in Trex Commercial product performance.
"Excellent brand positioning in a growing category and strong early season demand underpin our confidence heading into 2018," said James Cline, president and CEO of Trex. He added that the company is pleased with the "cross-product development and cross-selling opportunities that are emerging between our Residential and Commercial operations."
Trex entered the commercial market in mid-2017 with the acquisition of the SC Company.
Trex expects net sales of $191 million in the second quarter -- $174 million from residential, and $17 million from commercial.
The company also announced a 2-for-1 stock split
