Residential Products Drive Trex Sales

Trex Company, Inc. had consolidated net sales of $228 million for the fourth quarter of 2020, a 39 per cent increase over sales in the fourth quarter of 2019. Residential product sales increased 40 per cent to $214 million and commercial product sales contributed $15 million to fourth quarter sales. Gross margin for the quarter was 40.5 per cent compared to 43.2 per cent in the year-ago quarter. Gross margin for residential products and commercial products were 41.3 per cent and 28 per cent, respectively. Net income was $43 million, an increase of 22 per cent from net income of $35 million last year. The increase in net income was driven primarily by volume growth in net sales of residential products. Earnings before taxes increased 28 per cent to $64 million and earnings before taxes margin was 27.9 per cent.