Early Buy season drives up Trex Q1 sales

Trex Company, Inc. had net sales of $374 million for the first quarter of 2024, an increase of 57 percent compared to net sales of $239 million in the first quarter of 2023. The growth was driven, in part, by the shift of the company’s Early Buy season from the fourth quarter of 2023 that added approximately $75 million in incremental first quarter 2024 sales. Gross profit for the quarter was $170 million and gross margin was 45.4 percent, up 80 percent and 580 basis points, respectively, compared to the same quarter last year. Net income for the first quarter was $89 million compared to $41 million. EBITDA was $133 million, compared to $69 million, and EBITDA margin was 35.6 percent, compared to 28.8 percent in the prior-year period.