TREX CO INC reported first quarter of 2026 results: revenue $343 million, net income $61 million, EPS $0.58 per diluted share. Guidance reaffirmed.
“TREX COMPANY REPORTS Solid first QUARTER 2026 RESULTS Launches Five Long-Term Strategic Priorities Well Positioned Heading Into Peak Deck-Building Season with Recent Home Center Stocking Wins Executes and Expands Significant Share Repurchase Program Reaffirms Full Year 2026 Guidance First Quarter Financial Highlights • Net sales of $343 million • Gross margin of 40.5% • Net income of $61 million and diluted earnings per share of $0.58 • Adjusted net income of $62 million and adjusted diluted earnings per share of $0.59 • Adjusted EBITDA of $103 million”
Zachary C. Lauer was appointed as Senior Vice President, Chief Operations Officer at TREX CO INC.
“appointed Zachary C. Lauer to serve as the Company’s Senior Vice President, Chief Operations Officer effective immediately.”
Material Agreements
TREX CO INC amended Credit Agreement with Bank of America, N.A., Wells Fargo Bank, National Association, TD Bank, N.A., PNC Bank, National Association, Truist Bank, and Atlantic Union Bank valued at $700,000,000 (effective 2026-03-26).
“On March 26, 2026 Trex Company, Inc. (Company), as borrower; Bank of America, N.A. (BOA), as a Lender, Administrative Agent, Swing Line Lender and L/C Issuer; Wells Fargo Bank, National Association (Wells Fargo), and TD Bank, N.A., as Co-Syndication Agents, PNC Bank, National Association, as Documentation Agent, Truist Bank, and Atlantic Union Bank (each, a Lender and collectively, the Lenders), arranged by BofA Securities, Inc. as Joint Lead Arranger and Sole Bookrunner, Wells Fargo Securities LLC, TD Bank, N.A., and PNC Capital Markets LLC, as Joint Lead Arrangers, entered into a Credit Agreement (Credit Agreement) to amend and restate the Credit Agreement dated as of May 18, 2022”
Debt Financings
TREX CO INC amended revolving credit of $700,000,000 with Bank of America, N.A. (as Administrative Agent) at Term SOFR plus Applicable Rate (ranging from 1.00% to 1.75%) maturing March 26, 2031.
“Under the Credit Agreement, the Lenders agreed to provide the Company with one or more Revolving Loans in a collective maximum principal amount of $700,000,000 (Loan Limit) throughout the term, which ends March 26, 2031 (Term).”
Material Agreements
TREX CO INC entered into Forward Share Repurchase Transaction Confirmation with Wells Fargo Bank, National Association valued at $100,000,000 (effective 2026-02-26).
“On February 26, 2026, Trex Company, Inc. (the “Company”) entered into a Forward Share Repurchase Transaction Confirmation (the “Confirmation”) with Wells Fargo Bank, National Association (“Wells Fargo”).”
Chris Keffer was appointed as Director at TREX CO INC.
“On August 15, 2024, the Board of Directors (Board) of Trex Company, Inc. (Company) appointed Chris Keffer as a director to fill the vacancy that was reported on Form 8-K on June 7, 2023.”
Earnings Releases
TREX CO INC reported first quarter of 2024 results: revenue $374 million, net income $89 million, EPS $0.82 per diluted share. Guidance reaffirmed.
“First quarter 2024 net sales were $374 million, up 57% compared to $239 million reported in the prior-year quarter. The growth in net sales was driven, in part, by the shift of our Early Buy season from the fourth quarter of 2023 that added approximately $75 million in incremental first quarter 2024 sales, the channel recalibrating inventories to prepare for the seasonal demand and increased consumer demand. Total sell-through increased at a mid-single digit rate in the first quarter. Gross profit was $170 million and gross margin was 45.4%, up 80% and 580 basis points, respectively, compared to the $94 million and 39.6% reported in the same quarter last year. Gross margin benefitted from a combination of increased capacity utilization along with related production efficiencies, and continued implementation of our cost improvement initiatives. Selling, general and administrative expenses were $51 million, or 13.5% of net sales, compared to $37 million, or 15.7% of net sales, in the 202”
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