Trex Co., Inc. (NYSE: TREX) reported Q2 EPS of $0.46, $0.02 better than the analyst estimate of $0.44. Revenue for the quarter came in at $121.3 million versus the consensus estimate of $123.73 million.

Trex Co., Inc. sees Q3 2014 revenue of $92 million, versus the consensus of $90.5 million.

Chairman, President and CEO Ronald W. Kaplan said, “As we expected, second-quarter sales were strong largely due to pent-up demand and market share gains. Several distributors reported record sales of our products reflecting our expanded distribution footprint and dealer conversions.

“We are now beginning to realize the benefits of three cost reduction initiatives we have been implementing this year. Each of these initiatives is focused on reducing costs and will contribute to increasing profit and shareholder value going forward.

“Earlier this year, we announced our entry into a new industry that leverages two of our core strengths: recycling and extrusion. Trex is now manufacturing and selling polyethylene pellets made from recycled plastic into the plastic bag, film and sheet markets.

“These pellets will partially displace virgin and off-spec resin, thereby lowering the cost for OEMs. One production line is installed and operational. Others are in the pipeline.

“As the summer has continued, sales order activity has remained strong. For this year’s third quarter, we expect net sales to be $92 million, which represents year-over-year growth of 23% for the quarter.”

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