WINCHESTER, Va. (AP) — WINCHESTER, Va. (AP) — Trex Co. (TREX) on Thursday reported first-quarter profit of $60.4 million.
The Winchester, Virginia-based company said it had profit of 56 cents per share. Earnings, adjusted for non-recurring costs, came to 60 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The maker of fencing and decking products posted revenue of $340 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $329.2 million.
For the current quarter ending in June, Trex said it expects revenue in the range of $370 million to $380 million.
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