Trex has slow second quarter

Trex Company, Inc. had net sales of $357 million for the second quarter of 2023, a decrease from net sales of $386 million in the second quarter of 2022. Net sales for the residential segment were $374 million. Consolidated gross profit as a percentage of net sales, gross margin, was 43.9% in the quarter compared to consolidated gross margin of 40.7% in the year-ago period. The company had second quarter net income of $77 million compared to net income of $89 million last year.