NYSE: TREX
TREX CO INCCIK 0001069878 · SIC 2400 · Lumber & Wood Products
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Trex corrects verbal guidance misstated on earnings call; written $335-$350M EBITDA target unchanged
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Trex names U.S. Lumber Group sole national distributor, exits Boise Cascade; Q2 revenue beats
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Latest financial statements
From 10-Q filed Aug 4, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
(In thousands, except share and per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Net sales | 418,019 | 387,801 | 761,422 | 727,794 |
| Cost of sales | 259,675 | 229,669 | 464,056 | 431,931 |
| Gross profit | 158,344 | 158,132 | 297,366 | 295,863 |
| Selling, general and administrative expenses | 67,480 | 55,734 | 122,997 | 111,801 |
| Other expenses | 4,672 | — | 4,672 | — |
| Income from operations | 86,192 | 102,398 | 169,697 | 184,062 |
| Interest expense (income), net | 2,327 | (77) | 2,327 | — |
| Income before income taxes | 83,865 | 102,475 | 167,370 | 184,062 |
| Provision for income taxes | 21,989 | 26,566 | 44,091 | 47,719 |
| Net income | 61,876 | 75,909 | 123,279 | 136,343 |
| Basic earnings per common share | 0.60 | 0.71 | 1.19 | 1.27 |
| Basic weighted average common shares outstanding | 102,314,156 | 107,227,128 | 103,678,673 | 107,204,024 |
| Diluted earnings per common share | 0.60 | 0.71 | 1.19 | 1.27 |
| Diluted weighted average common shares outstanding | 102,385,222 | 107,296,203 | 103,751,287 | 107,290,272 |
| Comprehensive income | 61,876 | 75,909 | 123,279 | 136,343 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except share data)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | 6,475 | 3,807 |
| Accounts receivable, net | 262,548 | 48,091 |
| Inventories | 189,644 | 238,665 |
| Prepaid expenses and other assets | 18,883 | 19,843 |
| Total current assets | 477,550 | 310,406 |
| Property, plant and equipment, net | 1,054,385 | 1,049,733 |
| Operating lease assets | 49,011 | 52,632 |
| Goodwill and other intangible assets, net | 35,020 | 31,529 |
| Other assets | 10,502 | 9,141 |
| Total assets | 1,626,468 | 1,453,441 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | 60,659 | 34,759 |
| Accrued expenses and other liabilities | 131,245 | 77,030 |
| Accrued warranty | 5,009 | 5,416 |
| Line of credit | 253,000 | 133,500 |
| Total current liabilities | 449,913 | 250,705 |
| Deferred income taxes | 85,833 | 85,833 |
| Operating lease liabilities | 37,803 | 41,755 |
| Non-current accrued warranty | 26,278 | 24,324 |
| Other long-term liabilities | 16,559 | 16,560 |
| Total liabilities | 616,386 | 419,177 |
| Commitments and contingencies | — | — |
| Stockholders’ equity | ||
| Preferred stock, $0.01 par value, 3,000,000 shares authorized; none issued and outstanding | — | — |
| Common stock, $0.01 par value, 360,000,000 shares authorized; 141,293,260 and 141,208,139 shares issued and 101,865,035 and 105,737,266 shares outstanding, at June 30, 2026 and December 31, 2025, respectively | 1,413 | 1,412 |
| Additional paid-in capital | 159,323 | 155,316 |
| Retained earnings | 1,913,126 | 1,789,847 |
| Treasury stock, at cost, 39,428,225 and 35,470,873 shares as of June 30, 2026 and December 31, 2025, respectively | (1,063,780) | (912,311) |
| Total stockholders’ equity | 1,010,082 | 1,034,264 |
| Total liabilities and stockholders’ equity | 1,626,468 | 1,453,441 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net income | 123,279 | 136,343 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 37,738 | 30,057 |
| Stock-based compensation | 5,474 | 5,247 |
| Loss on disposal of property, plant and equipment | 4,672 | 8 |
| Other non-cash adjustments | (225) | 234 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (214,457) | (202,870) |
| Inventories | 49,021 | 65,439 |
| Prepaid expenses and other assets | 115 | 6,816 |
| Accounts payable | 32,546 | 23,377 |
| Accrued expenses and other liabilities | 32,420 | 24,802 |
| Income taxes receivable/payable | 25,157 | 6,286 |
| Net cash provided by operating activities | 95,740 | 95,739 |
| INVESTING ACTIVITIES | ||
| Expenditures for property, plant and equipment | (52,737) | (126,275) |
| Purchased intangibles | (4,542) | (4,901) |
| Proceeds from sales of property, plant and equipment | 81 | 189 |
| Net cash used in investing activities | (57,198) | (130,987) |
| FINANCING ACTIVITIES | ||
| Borrowings under line of credit | 507,000 | 534,047 |
| Principal payments under line of credit | (387,500) | (491,200) |
| Repurchases of common stock | (153,557) | (4,008) |
| Proceeds from employee stock purchase and option plans | 621 | 634 |
| Financing costs | (2,438) | 6 |
| Net cash used in (provided by) financing activities | (35,874) | 39,479 |
| Net increase in cash and cash equivalents | 2,668 | 4,231 |
| Cash and cash equivalents, beginning of period | 3,807 | 1,292 |
| Cash and cash equivalents, end of period | 6,475 | 5,523 |
| Supplemental Disclosure: | ||
| Cash paid for interest, net of capitalized interest | 1,307 | — |
| Cash paid for income taxes, net | 18,933 | 41,432 |
| Supplemental non-cash investing and financing disclosure: | ||
| (Decrease) increase capital expenditures in accounts payable and accrued expenses | (6,485) | 18,246 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except share and per share data); (In thousands, except share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗