Residential Sales Contribute To Trex Revenue Growth

Trex Company, Inc. had consolidated net sales of $312 million for the second quarter of 2021, a 41 per cent increase over net sales of $221 million for the second quarter of 2020. The gains were reflective of sustained broad-based demand across all residential product lines and market share gains from wood. Residential sales increased 43 per cent year-over-year to $299 million. Consolidated gross margin for the quarter was 38 per cent, after absorbing an approximately 400 basis point impact versus 41.9 per cent in the year-ago quarter. Net income was $61 million, up 30 per cent over net income of $47 million last year. Earnings before taxes increased 36 per cent to $92 million and its margin was 29.4 per cent.