Published on 10 May 2024 on Zacks via Yahoo Finance
TREX Q1 Earnings & Net Sales Beat Estimates, Margins Up
Trex Company, Inc. TREX reported impressive first-quarter 2024 results, wherein earnings and net sales surpassed their respective Zacks Consensus Estimate.On a year-over-year basis, earnings and net sales increased handily on the back of continued appeal of the Outdoor Living category and demonstrating strong consumer demand for Trex branded products.Shares of TREX, the world’s #1 brand of high-performance, low-maintenance and eco-friendly composite decking and railing and a leading brand in outdoor living products, gained 1.1% in the after-hour trading session on May 9.
Detailed Discussion
Trex reported adjusted earnings per share (EPS) of 82 cents, which beat the Zacks Consensus Estimate of 72 cents by 13.9%. The bottom line increased a whopping 115.8% from the year-ago quarter’s reported figure of 38 cents per share.