Trex (TREX) Reports In-Line Q2 EPS, Offers Outlook

Trex (NYSE: TREX) reported Q2 EPS of $0.53, in-line with the analyst estimate of $0.53. Revenue for the quarter came in at $312 million versus the consensus estimate of $302.23 million.

GUIDANCE:

Trex sees Q3 2021 revenue of $320-330 million, versus the consensus of $323.3 million.

• “Our capacity expansion, which added approximately 350 jobs, was completed one month ahead of schedule and has enabled us to accommodate the continued strong broad-based demand for Trex Residential outdoor living products. Further build-out of new decking lines in Virginia will continue, and those new lines are scheduled to be available for production by the end of this year. Our expansion initiatives will serve the core residential market and will enable us to actively pursue future growth opportunities, including the expansion of international sales and the entrance of Trex Residential products into the home builder market.
• “The continued strength of the repair and remodel market together with our brand leadership and increased capacity have driven our impressive year-to-date top line growth. We are encouraged that 2021 will be another year of strong growth for Trex and enhanced value creation for our stakeholders as we execute our strategy. For the third quarter of 2021, we expect consolidated net sales to range from $320 million to $330 million, representing 40% year-over-year growth at the midpoint of the range,” Mr. Fairbanks concluded.

For earnings history and earnings-related data on Trex (TREX) click here.

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