Trex Beats by 10 Cents per Share

After the close on Monday, Trex (TREX) reported Q4 earnings of 61 cents per share. That was 10 cents more than estimates. Sales rose 18% to $165 million. The company had been expecting sales of $160 million.

For the year, Trex earned $2.47 per share on sales of $745 million. CEO James E. Cline said, “Fourth-quarter results were in line with our expectations for strong double-digit sales growth and sequential gross margin expansion.” This was a very good quarter for Trex.

For 2020, Trex expects “strong double-digit sales growth.” They expect sales of $200 million for Q1 which is an 11% increase over last year. During 2019, Trex bought back 500,000 shares of stock at an average price of $77 per share.

One other note. James E. Cline will be retiring as CEO later this year. The board has chosen Bryan Fairbanks to be the new CEO.

Posted by on February 25th, 2020 at 1:51 am


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