Trex Company has slight sales increase

Trex Company, Inc. had net sales of $196 million for the fourth quarter of 2023, up from net sales of $192 million in the fourth quarter of 2022. The growth in net sales was due primarily to increased volume and the absence of the residual channel inventory drawdown that occurred in the 2022 fourth quarter. Gross margin was 36.1 percent in the quarter compared to gross margin of 34.1 percent in the year-ago period. Net income was $22 million compared to $10 million. EBITDA was $41 million compared to $26 million and EBITDA margin was 21 percent compared to 13.4 percent last year.