Why TREX Stock Is Soaring Today

TREX stock is up more than 15%

   

Why TREX Stock Is Soaring Today

Trex (TREX) benefited from a strong second quarter that sent TREX stock soaring.

Trex 300x103 Why TREX Stock Is Soaring TodayThe company’s quarterly earnings report included revenue of $121.3 million–23% higher compared to the year-ago quarter. Trex also reported sales that generated $0.46 of earnings per share, 4.6% higher than the average analysts’ estimate.

“As we expected, second-quarter sales were strong largely due to pent-up demand and market share gains,” said CEO Ronald Kaplan. “Several distributors reported record sales of our products reflecting our expanded distribution footprint and dealer conversions.”

The recycled material manufacturer expects third quarter revenue of $92 million. TREX stock is up about 15.1% Monday afternoon.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/08/trex-stock/.

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