Trex posts sales and earnings gains
Wood-alternative decking giant Trex Co. reported first-quarter net sales of $107.9 million, up 12% from net sales of $96.1 million in the first quarter of last year.
Net income for the quarter increased to a record $21.6 million, up from $12.3 million in the year-ago period.
“Our new record reflects the continual enhancements we have been making to our product platform, operations, distribution network and marketing strategies,” said Ronald Kaplan, CEO.
Railing options have helped boost sales he said, as has a good-better-best railing and decking lineup.
The company expects second-quarter sales to post a 10% gain over the same period last year.