Trex has strong Q3 sales

Trex Company, Inc. had net sales of $304 million for the third quarter of 2023, an increase over net sales of $188 million in the third quarter of 2022. The increase was substantially due to increased volume which resulted from strong secular trends and the non-recurrence of the channel inventory drawdown that occurred during the 2022 quarter. Consolidated gross profit as a percentage of net sales, gross margin, was 43.1 percent in the third quarter of 2023 compared to 24.5 percent in the year-ago period. Net income for the quarter was $65 million compared to net income of $14 million in the year-ago period. EBITDA was $99 million, compared to $31 million and EBITDA as a percentage of net sales, EBITDA margin, was 32.7 percent, compared to 16.4 percent.