Trex Company, Inc. reported a net sales increase of 5.2% for the fiscal year ending December 31, 2024, reaching $1.15 billion compared to $1.09 billion in 2023. The company's gross profit also rose by 7.4% to $485.7 million, resulting in a gross margin of 42.2%, up from 41.3% the previous year. Net income for 2024 was $226.4 million, a 10.2% increase from $205.4 million in 2023, while EBITDA grew by 10.4% to $360.3 million. The increase in profitability was attributed to improved operational efficiencies and a shift in the timing of the early-buy program, which positively impacted sales volume.
In terms of strategic developments, Trex completed the sale of its commercial products segment in December 2022, allowing it to focus solely on its residential products. The company has continued to expand its product offerings, launching new products such as the Trex Signature® X-Series™ Railing and enhancing its existing lines with new colors and technologies. Trex also expanded its distribution network, partnering with Alexandria Moulding to increase its presence in Canada and collaborating with Weyerhaeuser to enhance distribution across the Southwest U.S.
Operationally, Trex's workforce consisted of 1,838 full-time employees as of December 31, 2024. The company has maintained a strong market presence, with its products stocked in over 6,700 retail locations worldwide. Trex's commitment to sustainability is evident, as its composite decking products are made from 95% recycled and reclaimed materials. The company has also been recognized for its environmental efforts, being named one of Barron’s “100 Most Sustainable Companies” for 2024.
Looking ahead, Trex plans to invest approximately $190 million to $210 million in capital expenditures for 2025, focusing on internal growth opportunities, manufacturing cost reductions, and potential acquisitions. The company aims to leverage its strong brand recognition and product innovation to capture a larger share of the outdoor living market. Trex's management remains optimistic about future growth, despite potential challenges such as economic fluctuations and supply chain disruptions.
About TREX CO INC
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