Trex earnings surge in Q2

Decking manufacturer Trex reported second quarter consolidated net sales increased 7% to $220.6 million from second quarter 2019 net sales of $206.5 million in the second quarter 2019.

The Winchester, Va.-based company reported that residential products sales increased 8% year-over-year to $209 million, with Trex Commercial Products contributing $12 million to sales.

Net income for the second quarter was $47 million, 32% ahead of a net income of $36 million in last year’s second quarter.

Sales for the first half of 2020 are up 9% to $421 million compared to sales of $386 million in the first half of 2019. 

Residential sales climbed 10% to $396 million in the first half of 2020.

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The Bottom Line: Decking demand continues as Trex sales rise 7% and profits jump 32% to $47 million in the second quarter.

What the CEO said: “Strong second quarter results demonstrated continued broad-based demand for Trex decking and railing products reinforcing our leadership position in outdoor living,” said Bryan Fairbanks, Trex president and CEO.

Company info: The full second quarter 2020 report from Trex is available here.