Trex Company reports Q1 EPS 60c, consensus 59c

Reports Q1 revenue $340M, consensus $328.9M. “First quarter sales exceeded our expectations driven by the continued strength of our premium products and our prominent position in both retail and the pro-channel,” said Bryan Fairbanks, President and CEO. “Our channel positioning combined with a network of contractors who are laser-focused on the decking and railing category provide Trex with a competitive advantage, maximizing the visibility and availability of Trex-branded products wherever consumers are making their decking and railing choices. After a slow start to the first quarter, we saw a notable pick-up in March orders, which has continued through April. Products launched within the last 36 months accounted for approximately 22% of trailing twelve-month sales, up from an estimated 10% in the comparable period last year. Our new product offerings continue to drive additional sales in both the pro and retail channels. Also, since the beginning of this year, we have converted a large number of dealers to the Trex brand, and the pace of TrexPRO recruitment and qualification is meaningfully ahead of the similar period last year. In addition, several national accounts are projecting substantial volume growth in 2025. We expect our new products and enhanced distribution coverage to expand our market share in key geographies, such as the western region of the country, in the coming years.”