Trex: 3Q Earnings Snapshot
WINCHESTER, Va. (AP) _ Trex Co. (TREX) on Monday reported third-quarter earnings of $29.5 million.
On a per-share basis, the Winchester, Virginia-based company said it had profit of 50 cents. Earnings, adjusted for non-recurring costs, were 57 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The maker of fencing and decking products posted revenue of $166.4 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $172.9 million.
Trex shares have increased nearly 7 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $57.75, a climb of 30 percent in the last 12 months.