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Trex Corp Q2 EPS Beats Expectations, Sees Q3 Revenues Up Double-Digits

After Monday's close, Trex Corporation TREX reported Q2 EPS of $0.79 versus consensus estimates of $0.71. Sales were $146 million versus estimates for $145.19 million.

Trex Corp, which manufactures alternative-materials used for decks and railings, said gross margins improved to 41.9 percent from 38.4 percent in Q2 2015.

Trex expects Q3 2016 revenues to be up 12 percent year-over-year.

President and CEO James Cline said, "Similar to this year’s first quarter, we produced earnings growth that significantly outpaced revenue gains in the second quarter, thanks to a combination of lower input costs, manufacturing cost saving initiatives and increased capacity utilization."

Shares of Trex closed Monday's regular session up $0.41 or 0.85 percent to $48.90.

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