TREX - Trex Q1 earnings beat on double-digit volume growth from secular trends

Trex (NYSE:TREX) Q1 earnings on Monday highlighted double-digit volume growth "from strong secular trends, as homeowners continue to invest in existing residences and pursue renovations that enhance their outdoor living spaces," said CEO and President Bryan Fairbanks. Looking forward, the building products firm is expecting Q2 net sales to be $375M-385M, representing 22% Y/Y growth at the midpoint, Fairbanks added. Meanwhile, Q1 EPS of $0.62 topped the average analyst estimate of $0.54 and rose from $0.42 in Q1 a year ago. Revenue of $339.23M in Q1 also beat the consensus of $326.7M and gained from $245.5M in the year-ago period, reflecting strong volume growth and pricing actions taken in 2021. EBITDA of $105.43M at March 31 jumped from $70.9M at the end of March 31, 2021. Towards the end of April, Trex got downgraded to Hold at Loop Capital.

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Trex Q1 earnings beat on double-digit volume growth from secular trends