Trex Q3 2021 Earnings Report
Key Takeaways
Trex Company reported a 45% increase in consolidated net sales, reaching $336 million. Net income grew by 73% to $74 million, with diluted earnings per share of $0.64. EBITDA increased by 76% to $108 million, with an EBITDA margin of 32.2%. The company also announced plans for a third production site to address long-term demand trends.
Consolidated net sales increased 45% to $336 million.
Net income grew 73% to $74 million; diluted earnings per share of $0.64, up 73%.
EBITDA grew 76% to $108 million; EBITDA margin of 32.2%.
Announced plans for third production site to address long-term demand trends and pursue new growth opportunities.
Trex
Trex
Forward Guidance
For the fourth quarter of 2021, Trex expects consolidated net sales to range from $295 million to $305 million, representing 31% year-over-year growth at the midpoint of the range. Anticipating sustained consumer demand along with infilling of low channel inventories, as we look to 2022, we expect another year of strong double-digit revenue gains.
Positive Outlook
- Demand trends remain strong.
- Mirroring repair and remodel spending forecasts for the remainder of 2021 and into 2022.
- Significant rise in home improvement permits indicating that homeowners are continuing to invest in their primary and secondary residences.
- Order activity together with website traffic and analytics point to a strong finish to 2021.
- Anticipating sustained consumer demand along with infilling of low channel inventories, as we look to 2022, we expect another year of strong double-digit revenue gains.