secwatch.observer — SEC 8-K summary
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Issuer:     TREX CO INC (TREX)
CIK:        0001069878
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001157523-23-000766
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trex Q1 net sales $239M, EPS $0.38; board authorizes new share repurchase of up to 10.8M shares
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- Net sales $239M vs $339M YoY; net income $41M ($0.38 diluted EPS) vs $71M ($0.62) prior year.
- EBITDA $69M with 28.8% margin; gross margin 39.6% vs 39.8% consolidated and 40.9% residential last year.
- Board approved new share repurchase program of up to 10.8M shares (approx. 10% of outstanding), no expiration date.
- Q2 2023 revenue guidance $310M-$320M; reaffirm FY 2023 EBITDA margin 26%-27%; capex $130M-$140M.
- Residential volume decline attributed to cautious channel purchases amid softening economy; Commercial segment divested Dec 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1069878/000115752323000766/0001157523-23-000766-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1069878/000115752323000766/a53395519.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000766

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