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Interim Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Interim Financial Data (Unaudited)
 
20.
INTERIM FINANCIAL DATA (Unaudited)
                                                                 
 
Three Months Ended
 
 
December 31,
2019
 
 
September 30,
2019
 
 
June 30,
2019
 
 
March 31,
2019
 
 
December 31,
2018
 
 
September 30,
2018
 
 
June 30,
2018
 
 
March 31,
2018
 
 
(In thousands, except share and per share data)
 
Net sales
 
$
164,772
 
 
$
194,551
 
 
$
206,453
 
 
$
179,571
 
 
$
139,971
 
 
$
166,380
 
 
$
206,692
 
 
$
171,207
 
Gross profit
 
$
71,263
 
 
$
82,431
 
 
$
83,444
 
 
$
69,365
 
 
$
59,856
 
 
$
67,210
 
 
$
91,115
 
 
$
76,713
 
Net income
 
$
35,497
 
 
$
41,976
 
 
$
35,710
 
 
$
31,555
 
 
$
25,171
 
 
$
29,471
 
 
$
42,820
 
 
$
37,110
 
Basic earnings per common share
 
$
0.61
 
 
$
0.72
 
 
$
0.61
 
 
$
0.54
 
 
$
0.43
 
 
$
0.50
 
 
$
0.73
 
 
$
0.63
 
Basic weighted average common shares outstanding
 
 
58,295,717
 
 
 
58,400,060
 
 
 
58,486,192
 
 
 
58,543,478
 
 
 
58,603,537
 
 
 
58,741,973
 
 
 
58,760,753
 
 
 
58,855,156
 
Diluted earnings per common share
 
$
0.61
 
 
$
0.72
 
 
$
0.61
 
 
$
0.54
 
 
$
0.43
 
 
$
0.50
 
 
$
0.73
 
 
$
0.63
 
Diluted weighted average common shares outstanding
 
 
58,512,733
 
 
 
58,604,603
 
 
 
58,687,540
 
 
 
58,829,177
 
 
 
58,936,795
 
 
 
59,084,117
 
 
 
59,051,413
 
 
 
59,199,622
 
 
 
 
 
 
 
 
 
The operating results for Trex Residential have historically varied from quarter to quarter. Seasonal, erratic or prolonged adverse weather conditions in certain geographic regions reduce the level of home improvement and construction activity and can shift demand for its products to a later period. The operating results for Trex Commercial have not historically varied from quarter to quarter as a result of seasonality; however, they are driven by the timing of individual projects, which may vary significantly each period.
On May 2, 2018, the Board of Directors of the Company approved a
two-for-one
stock split of the Company’s common stock, par value $0.01. The stock split was in the form of a stock dividend distributed on June 18, 2018, to stockholders of record at the close of business on May 23, 2018. The stock split entitled each stockholder to receive one additional share of common stock, par value $0.01, for each share they held as of the record date. All common stock share and per share data for all periods presented have been retroactively adjusted to reflect the stock split.