Trex (TREX) Tops Q2 EPS by 2c; lowers guidance

Trex (NYSE: TREX) reported Q2 EPS of $0.80, $0.02 better than the analyst estimate of $0.78. Revenue for the quarter came in at $376 million versus the consensus estimate of $387.87 million.

GUIDANCE:

Trex sees Q3 2024 revenue of $220-230 million, versus the consensus of $291.8 million.

Trex sees FY2024 revenue of $1.13-1.15 million, versus the consensus of $1.244 million.

Looking ahead to the second half of 2024, we see encouraging data related to our mid-market and premium product sales and expect that channel inventory levels at the end of the year will be slightly lower than 2023 year-end levels. Given the uncertain economic outlook and the softness in the entry-level segment, we are taking a measured approach to adjusting our sales guidance for the full year. We are pleased to be able to maintain our 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, and our tax rate is expected to be in the 25% to 26% range.

For earnings history and earnings-related data on Trex (TREX) click here.

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