Trex Co SEC Filings

Trex Company, Inc. reported a solid start to 2026 and furnished a transcript of its first-quarter earnings call. Net sales were $343 million, up 1% year over year, with gross margin of 40.5% helped by premium decking mix and operational efficiencies. Adjusted EBITDA reached $103 million, up 2%, while free cash flow was negative $143 million as the company built inventory ahead of peak season and finished its Arkansas facility.

Management maintained full-year guidance for net sales of $1.185 billion–$1.23 billion, adjusted gross margin of about 37.5% and adjusted EBITDA of $315 million–$340 million. Trex highlighted a five‑pillar growth strategy, including brand investment, high‑performance product innovation and lowering railing costs. The company executed a $100 million accelerated share repurchase as part of a $150 million buyback and its Board authorized an additional 10 million shares under the repurchase program.

Trex Company, Inc. reported solid first-quarter 2026 results with modest growth and active capital deployment. Net sales were $343.4 million, up 1% from a year ago, and net income rose to $61.4 million, or $0.58 diluted EPS, compared with $60.4 million, or $0.56. Gross margin held steady at 40.5%, while EBITDA increased 6.2% to $101.9 million.

Operating cash flow was a use of $118.4 million, mainly from higher accounts receivable tied to channel dynamics, while capital spending of $25.0 million focused on the Arkansas manufacturing facility, cost reductions, and systems. Trex entered a new $700 million revolving credit agreement and had $382.5 million outstanding, with $314.4 million of remaining availability.

The company continued returning capital through its 2023 stock repurchase program, prepaying $100 million under an accelerated share repurchase and receiving 1.9 million shares in the quarter. Shares outstanding decreased to 103.9 million at March 31, 2026, while Trex maintained compliance with all debt covenants.

Trex Company reported first quarter 2026 net sales of $343.4 million, up 1% from the prior year, with gross margin steady at 40.5%. Net income was $61.4 million, or $0.58 per diluted share, and adjusted EBITDA was $103.1 million.

Free cash flow was negative $143.4 million but improved 39% year over year as capital spending on the Little Rock facility declined. Trex reaffirmed full-year 2026 guidance, with revenue expected between $1.185 billion and $1.23 billion and adjusted EBITDA between $315 million and $340 million, and guided Q2 2026 revenue to $388–$403 million.

The company executed and expanded share repurchases, authorizing a $100 million accelerated share repurchase and $50 million of additional discretionary buybacks it plans to complete in Q2, and its board added 10 million shares to the existing repurchase authorization, bringing potential repurchases to roughly 13% of outstanding shares.

Trex Company senior vice president and Chief Operations Officer Zachary C. Lauer filed an initial ownership report showing his existing equity stake in the company. He directly holds 28,187 shares of Trex common stock, reflecting his current ownership position rather than a new purchase or sale.

Lauer also holds several stock appreciation rights tied to Trex common stock, including 2,481 underlying shares at an exercise price of $67.33 per share expiring on February 17, 2035, and other awards with exercise prices ranging from $50.83 to $104.56 per share and expirations between 2030 and 2034.

Trex Company, Inc. appointed Zachary C. Lauer as Senior Vice President, Chief Operations Officer, effective immediately. He will lead manufacturing, supply chain, engineering and R&D after a decade in progressive operations roles at the company and prior leadership positions at Newell-Rubbermaid and Federal-Mogul.

Mr. Lauer’s annual base salary is $493,000, with a target annual cash incentive equal to 60% of salary and a long-term equity incentive target of 135% of salary. He is party to change in control and severance agreements that provide 1.5x and 1.0x multiples, respectively, of salary plus incentive measures, along with continued benefits, subject to release and restrictive covenants.

Trex also reported results of its annual meeting. As of the record date, there were 103,889,031 shares entitled to vote, and 89,603,746 shares (86.25%) were represented, constituting a quorum. Stockholders elected four directors, approved executive compensation on an advisory basis, and ratified Ernst & Young LLP as independent auditor for 2026.

Trex Co Inc reports that Vanguard Capital Management beneficially owned 5,568,825 shares of Common Stock as of 03/31/2026, representing 5.36% of the class. The filing shows Vanguard has sole voting power for 820,413 shares and sole dispositive power for 5,568,825 shares. The Schedule 13G is signed by Ashley Grim on 04/30/2026.

Trex Co Inc director David Christian Keffer reported receiving a stock-based compensation award rather than making an open-market trade. On April 1, 2026, he acquired 175 shares of Common Stock at an indicated value of $36.57 per share as a grant or award.

The filing notes this restricted stock unit award will vest on the first anniversary of the grant, meaning the shares are subject to a one-year vesting period before fully earned. After this award, Keffer directly holds 3,424 Trex shares, reflecting a relatively small, routine director compensation grant.

ROSE B ANDREW reported acquisition or exercise transactions in this Form 4 filing.

Director Andrew B. Rose received an award of 700 shares of Trex Co Inc common stock on April 1, 2026. The shares were granted as a restricted stock unit award priced at $36.57 per share for reporting purposes.

The award will vest on the first anniversary of the grant, meaning the director earns full ownership over time rather than immediately. After this award, Rose directly holds 14,883 shares of Trex common stock, reinforcing that this filing reflects a compensation-related equity grant rather than an open-market trade.

Trex Company, Inc. entered into a new secured Credit Agreement that amends and restates its prior revolving credit facility. The new agreement provides a revolving loan capacity of $700,000,000 through March 26, 2031, replacing the prior $550,000,000 facility that would have matured in December 2026. It includes sublimits of $60,000,000 for letters of credit and $40,000,000 for swing line loans, with proceeds available for refinancing existing debt, working capital, capital spending, permitted acquisitions and other corporate purposes.

The facility bears interest at a Base Rate or Term SOFR plus an applicable margin tied to Trex’s consolidated leverage. It is secured by a broad lien on the company’s accounts, inventory, intellectual property, equity interests and other assets under a Security and Pledge Agreement. Financial covenants require a minimum Consolidated Interest Coverage Ratio of 2.50 to 1.0 and a maximum Consolidated Debt to Consolidated EBITDA Ratio of 3.75 to 1.0, with temporary step-up to 4.25 to 1.0 after qualifying acquisitions, and include an equity cure feature.