Trex reports lower Q3 results

Trex Company announced net sales for the third quarter ended Sept. 30 of $94.0 million compared with net sales of $95.5 million for the 2014 period. Net income totaled $3.7 million for the third quarter, compared with net income of $8.9 million for the prior-year period.

For the nine months ended Sept. 30, the company reported net sales of $351.6 million compared with net sales of $317.5 million for the prior-year period. Net income was $40.0 million for the first nine months of 2015 compared with net income of $36.4 million for the 2014 period.

“Third-quarter revenue was slightly lower than last year, reflecting last year’s unusually strong quarter, caused by a late start to the decking season after a long and severe winter,” said president and CEO James E. Cline. “For the first nine months of 2015 our net sales increased 11% versus last year’s period as we continue to outpace the market and advanced our industry-leading market share.

“For the fourth quarter, we expect net sales of approximately $85 million, which represents a 15% increase over last year’s period. This will also set a new company record for annual revenue at approximately $437 million and 11% growth over fiscal year 2014.”