Trex sales are solid in Q2

Consolidated net sales at Trex, the composite decking, railing, and accessories manufacturer, jumped 24% to $386 million for the second quarter of 2022 compared to second quarter 2021 sales of $312 million. 

Sales for the first half of 2022 are up 30% to $725 million.

The Winchester, Va.-based company’s residential sales increased 25% to $374 million for the quarter with Trex Commerical products contributing $12 million in revenue.

Net income for the second quarter was $89 million, a 46% increase from a net income of $61 million in the prior second quarter. 

Trex posted a year-to-date net income of $160 million, growing more than 45% from a net income of $61 million in the first six months of 2021.

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The Bottom Line: Earnings at Trex soar 46% to $61 million thanks to continued strong residential sales.

What the CEO said: Trex executed effectively on our wood-to-composite market share conversion strategy during the second quarter as consumers continued to invest in enhancing their outdoor living experience,” said Brian Fairbanks, Trex president and CEO. “Revenue increased 24%, aided primarily by favorable pricing as well as mid-single digit growth in volume at Trex Residential, reflecting both consumer demand and continued distributor inventory build, particularly in the pro channel.”’

Company info: Click here to read the full second quarter 2022 financial report from Trex.