Trex Q1 net sales $239M, EPS $0.38; board authorizes new share repurchase of up to 10.8M shares

TREX CO INC

2023-Q1 EPS reported $0.38 revenue$238,718,000

Net sales $239M vs $339M YoY; net income $41M ($0.38 diluted EPS) vs $71M ($0.62) prior year.
EBITDA $69M with 28.8% margin; gross margin 39.6% vs 39.8% consolidated and 40.9% residential last year.
Board approved new share repurchase program of up to 10.8M shares (approx. 10% of outstanding), no expiration date.
Q2 2023 revenue guidance $310M-$320M; reaffirm FY 2023 EBITDA margin 26%-27%; capex $130M-$140M.
Residential volume decline attributed to cautious channel purchases amid softening economy; Commercial segment divested Dec 2022.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TREX CO INC reported first quarter 2023 results: revenue $239 million, net income $41 million, EPS $0.38 per diluted share. Guidance reaffirmed.

Period: first quarter 2023
Revenue: $239 million
Net income: $41 million
EPS: $0.38 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

low-maintenance and eco-friendly composite decking, railing and outdoor living products, today reported first quarter 2023 results. First Quarter 2023 Highlights Net sales of $239 million First quarter gross margin of 39.6% Net income of $41 million and diluted earnings per share of $0.38 EBITDA of $69 million and EBITDA margin of 28.8% CEO Comments “Our

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Source: SEC EDGAR

accession 0001157523-23-000766

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