NYSE$TREX
Trex Co Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Trex's second quarter sales increased, driven by premium products, and gross margin expanded due to higher utilization and production efficiencies.
Trex Company reported a 6% increase in net sales to $376 million for the second quarter of 2024, driven by premium products. Gross margin improved to 44.7%, and EBITDA margin expanded to 34.6%. The company is guiding to third quarter revenues of $220 million to $230 million and maintaining full year EBITDA margin guidance of 30% to 30.5%.
- Net sales for the second quarter of 2024 reached $376 million.
- Gross margin stood at 44.7% for the quarter.
- Net income amounted to $87 million, with diluted earnings per share of $0.80.
- EBITDA was reported as $130 million, with an EBITDA margin of 34.6%.
Headline financials
Revenue & EPS history
Trex · Revenue · Quarterly
$376M
Forward guidance
Trex expects 2024 revenue to range from $1.13 billion to $1.15 billion and third quarter revenue to range from $220 million to $230 million. The company is maintaining its full year EBITDA margin guidance range at 30.0% to 30.5%.
Tailwinds
- Mid-market and premium product sales are encouraging.
- Channel inventory levels at the end of the year are expected to be slightly lower than 2023 year-end levels.
- Maintaining full year EBITDA margin guidance range at 30.0% to 30.5%.
- SG&A as a percentage of net sales is projected to be flat with the prior year at approximately 16%.
- Depreciation and amortization is estimated between $53 million and $55 million.
Headwinds
- Uncertain economic outlook.
- Softness in the entry-level segment.
- Adjusting sales guidance for the full year due to economic uncertainty.
- Tax rate is expected to be in the 25% to 26% range.
- The company is taking a measured approach
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.1%
Avg return
Earnings day
+2.1%
Avg return
5 days after
+2.4%
Avg return
30 days after
51%
33 / 65 earnings
Positive
+26.8%
Q3 2013
Best reaction
-31.1%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.9% | -2.2% | -0.7% | |
| Q4 2025 | +0.7% | -1.9% | -14.3% | |
| Q3 2025 | -31.1% | -31.5% | -26.7% | |
| Q1 2025 | -1.0% | +3.6% | -2.8% | |
| Q4 2024 | +1.2% | +5.1% | -5.8% | |
| Q3 2024 | +9.8% | +10.0% | +15.7% | |
| Q2 2024 | -20.4% | -19.5% | -19.4% | |
| Q1 2024 | -3.8% | -2.5% | -11.7% | |
| Q4 2023 | -0.7% | +0.9% | +5.8% | |
| Q3 2023 | +3.6% | +15.5% | +29.4% | |
| Q2 2023 | +9.7% | +4.8% | +2.9% | |
| Q1 2023 | +10.2% | +2.6% | +5.4% | |
| Q4 2022 | +2.0% | -4.1% | +5.9% | |
| Q3 2022 | -10.6% | -14.3% | -7.0% | |
| Q2 2022 | -16.0% | -8.7% | -27.2% | |
| Q1 2022 | +5.7% | +13.2% | +16.5% | |
| Q4 2021 | -8.0% | -17.4% | -22.0% | |
| Q3 2021 | +16.2% | +13.6% | +23.0% | |
| Q2 2021 | +0.3% | +8.4% | +14.4% | |
| Q1 2021 | -2.5% | -3.8% | -10.1% | |
| Q4 2020 | -11.2% | -10.7% | -14.7% | |
| Q3 2020 | +2.0% | +14.5% | +6.2% | |
| Q2 2020 | -0.3% | -0.2% | +9.3% | |
| Q1 2020 | +18.8% | +25.2% | +27.1% | |
| Q4 2019 | -2.4% | -10.0% | -23.4% | |
| Q3 2019 | -6.6% | -0.7% | -2.8% | |
| Q2 2019 | +14.3% | +12.5% | +18.4% | |
| Q1 2019 | -8.9% | -11.0% | -19.2% | |
| Q4 2018 | -1.2% | +0.7% | -9.7% | |
| Q3 2018 | -0.5% | +7.6% | +5.0% | |
| Q2 2018 | +20.2% | +21.4% | +30.1% | |
| Q1 2018 | +12.6% | +9.1% | +19.4% | |
| Q4 2017 | -4.9% | +0.2% | -3.1% | |
| Q3 2017 | +22.8% | +17.1% | +31.1% | |
| Q2 2017 | +3.4% | +6.5% | +3.1% | |
| Q1 2017 | -7.5% | -10.8% | -7.9% | |
| Q4 2016 | -5.7% | -5.0% | -0.4% | |
| Q3 2016 | +11.0% | +22.3% | +27.6% | |
| Q2 2016 | +17.4% | +22.2% | +27.7% | |
| Q1 2016 | -6.5% | — | — | |
| Q4 2015 | +16.9% | — | — | |
| Q3 2015 | -2.9% | — | — | |
| Q2 2015 | -10.6% | — | — | |
| Q1 2015 | +0.3% | — | — | |
| Q4 2014 | +4.1% | — | — | |
| Q3 2014 | +7.7% | — | — | |
| Q2 2014 | +18.5% | — | — | |
| Q1 2014 | -10.9% | — | — | |
| Q4 2013 | +10.8% | — | — | |
| Q3 2013 | +26.8% | — | — | |
| Q2 2013 | -11.7% | — | — | |
| Q1 2013 | +8.4% | — | — | |
| Q4 2012 | +7.6% | — | — | |
| Q3 2012 | +12.4% | — | — | |
| Q2 2012 | -5.9% | — | — | |
| Q1 2011 | -6.9% | — | — | |
| Q1 2012 | -0.5% | — | — | |
| Q4 2009 | +3.6% | — | — | |
| Q4 2011 | +3.6% | — | — | |
| Q3 2011 | +7.5% | — | — | |
| Q3 2010 | +7.5% | — | — | |
| Q2 2011 | -13.5% | — | — | |
| Q4 2010 | -13.5% | — | — | |
| Q2 2010 | -13.5% | — | — | |
| Q1 2010 | -2.5% | — | — |
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