WINCHESTER, Va. (AP) — WINCHESTER, Va. (AP) — Trex Co. (TREX) on Thursday reported first-quarter profit of $61.4 million.
The Winchester, Virginia-based company said it had profit of 58 cents per share. Earnings, adjusted for one-time gains and costs, were 59 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The maker of fencing and decking products posted revenue of $343.4 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $339.8 million.
For the current quarter ending in June, Trex said it expects revenue in the range of $388 million to $403 million.
The company expects full-year revenue in the range of $1.19 billion to $1.23 billion.
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