Trex: 2Q Earnings Snapshot
WINCHESTER, Va. (AP) _ Trex Co. (TREX) on Monday reported second-quarter profit of $42.8 million.
The Winchester, Virginia-based company said it had net income of 73 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The maker of fencing and decking products posted revenue of $206.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $190.8 million.
For the current quarter ending in October, Trex said it expects revenue in the range of $173 million.
Trex shares have increased 19 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $64.35, an increase of 72 percent in the last 12 months.