Monitor whether 2026 guidance is achieved, particularly adjusted EBITDA improvement from $336M to $315M-$340M range, and watch for execution of the $150M share buyback program in first half of 2026.
Price Chart
Executive Summary
Trex Company reported full-year 2025 revenue of $1.2 billion (up 2.0% YoY) but lower earnings due to one-time charges, including $6.4 million for warranty reserve increases and $2.7 million for start-up costs. Despite declining GAAP net income to $190M (from $238M), adjusted EBITDA was $336M. The company guided 2026 revenue between $1.185B-$1.230B and repurchased $50M of stock in Q4 while authorizing a $150M buyback for 1H 2026.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue was $1.2 billion, up 2.0% from 2024
- GAAP net income declined to $190 million (from $238 million in 2024) due to one-time charges
- Adjusted EBITDA was $336 million for full-year 2025
- 2026 guidance: revenue $1.185B-$1.230B and adjusted EBITDA $315M-$340M
- Repurchased $50 million of common stock in Q4 2025 and authorized $150 million buyback for 1H 2026
- One-time charges included $6.4 million increase in warranty reserve and $2.7 million in start-up costs
Financial Impact
Revenue increased 2.0% to $1.2B, but net income decreased from $238M to $190M due to one-time charges
Segment Breakdown
| Segment |
|---|
| new products |
| railing |
Risk Factors
- One-time charges ($6.4M warranty reserve, $2.7M start-up costs) reduced profitability
- 2026 adjusted EBITDA guidance range ($315M-$340M) is below 2025's $336M at midpoint
- Gross margin declined to 39.2% from 43.6% in 2024
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-066985 |
| Document: trex-20260224.htm | 0001193125-26-066985 |
| Document: 0001193125-26-066985-index-headers.html | 0001193125-26-066985 |
| Document: 0001193125-26-066985-index.html | 0001193125-26-066985 |
| Document: 0001193125-26-066985.txt | 0001193125-26-066985 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | 8-K | $47.27 $44.13 | ▼ −6.64% | ▼ −7.96% | $43.56 (−7.85%) |
Aug 6, 2026 8w ago | Press Release | $48.43 $43.69 | ▼ −9.79% | ▼ −10.39% | $43.56 (−10.06%) |
Aug 4, 2026 8w ago | 8-K | $47.02 $43.34 | ▼ −7.83% | ▼ −6.59% | $43.56 (−7.36%) |
Jul 14, 2026 11w ago | 8-K | $44.17 $49.74 | ▲ +12.61% | ▲ +10.12% | $43.56 (−1.38%) |
May 4, 2026 21w ago | 8-K | $36.64 $41.56 | ▲ +13.43% | ▲ +7.78% | $43.56 (+18.89%) |
Mar 19, 2026 28w ago | Press Release | $36.78 $42.77 | ▲ +16.29% | ▲ +8.66% | $43.56 (+18.43%) |
Mar 16, 2026 28w ago | DEFA14A | $37.93 $41.29 | ▲ +8.86% | ▲ +5.08% | $43.56 (+14.84%) |
Feb 24, 2026 31w ago | 8-K | $41.70 $37.30 | ▼ −10.55% | ▼ −5.32% | $43.56 (+4.46%) |
Feb 24, 2026 31w ago | 8-K | $41.70 $37.30 | ▼ −10.55% | ▼ −5.32% | $43.56 (+4.46%) |
US Market Status
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