Every material Form 8-K Trex has filed with the SEC since May 08, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Trex reported third-quarter 2026 net sales of $360 million, up 26% from $285 million a year earlier, and net income of $52 million, or $0.52 per diluted share, versus $0.48 a year earlier. The company raised its full-year 2026 guidance, including net sales of $1,296 million to $1,306 million and adjusted EBITDA of $355 million to $360 million, though gross margin fell to 36.0% from 40.5%.
Q3 2026 net sales rose 26.0% to $360 million; the company estimates about $30 million came from initial distribution load-in.
Q3 net income was $52 million ($0.52 per diluted share) versus $0.48 a year earlier; adjusted diluted EPS was $0.55 versus $0.51.
Full-year 2026 guidance raised: net sales $1,296 million to $1,306 million and adjusted EBITDA $355 million to $360 million.
Gross margin was 36.0% versus 40.5% a year earlier, with higher diesel costs, higher depreciation and Arkansas plant startup costs cited.
Trex Company named Brian J. Taylor to a newly created Senior Vice President and Chief Commercial Officer role, effective August 24, 2026, overseeing sales, marketing, and information technology. Taylor previously served as Vice President Sales, North America at PoolCorp and spent 24 years at Sherwin-Williams, and the filing lists his compensation package, including a $480,000 base salary.
Taylor is effective August 24, 2026, and is the company's first Chief Commercial Officer, a newly created role.
Compensation includes a $480,000 annual base salary, a $100,000 cash signing bonus, and time-based RSUs valued at $450,000 vesting over three years.
Taylor was Vice President Sales, North America at PoolCorp from March 2025 to August 2026, and held sales and marketing roles at Sherwin-Williams for 24 years.
Change-in-control and severance agreements are standard company forms, with a 1.5 times salary-and-incentive lump sum under the change-in-control agreement.
Trex reported second-quarter 2026 net sales up 8% to $418 million, driven mainly by volume. Net income fell to $62 million, or $0.60 per diluted share, from $76 million, or $0.71, a year earlier, and adjusted EBITDA declined to $112 million from $122 million. The company reaffirmed its raised full-year 2026 guidance and approved up to $150 million in share repurchases for the back half of the year.
Net sales rose 8% to $418 million from $388 million; gross margin fell to 37.9% from 40.8%.
Diluted EPS was $0.60 versus $0.71 a year earlier; adjusted diluted EPS was $0.62 versus $0.73.
Full-year 2026 guidance reaffirmed: net sales of $1.215 billion to $1.250 billion and adjusted EBITDA of $335 million to $350 million.
Board approved up to $150 million in share repurchases in July for the back half of 2026; third-quarter net sales guidance is $305 million to $320 million.
Trex reported first-quarter 2026 net sales of $343 million, up 1% from $340 million, with GAAP net income of $61 million and diluted EPS of $0.58, compared with $0.56 a year earlier. The company reaffirmed its full-year 2026 guidance and disclosed a $150 million share repurchase program plus a 10 million share increase to its existing buyback authorization, which would bring total potential repurchases to about 13% of shares outstanding at quarter-end.
Net sales $343 million vs. $340 million; gross margin 40.5%, flat year over year
GAAP net income $61 million, or $0.58 per diluted share, vs. $0.56; adjusted diluted EPS $0.59 vs. $0.60
Full-year 2026 guidance reaffirmed: net sales $1.185 billion to $1.230 billion; adjusted EBITDA $315 million to $340 million
Free cash flow was negative $143 million, a 39% improvement from last year; 2026 capital expenditures guided to $100 million to $120 million
Trex Company appointed Zachary C. Lauer as Senior Vice President, Chief Operations Officer, effective April 28, 2026, giving him oversight of manufacturing, supply chain, engineering, and R&D. At the same April 28 annual meeting, stockholders elected four directors, approved executive pay on an advisory basis, and ratified Ernst & Young LLP as auditor.
Lauer, age 53, joined Trex in 2016 and most recently served as Senior Vice President, Supply Chain and Manufacturing; base salary is $493,000
Target annual cash incentive is 60% of base salary; long-term equity incentive target is 135% of base salary
Four directors elected to three-year terms ending at the 2029 annual meeting; advisory pay vote drew 44,939,698 for and 34,703,577 against
Ernst & Young LLP ratified as independent auditor with 85,831,316 votes for and 3,694,637 against
Trex Company entered a new $700 million revolving credit agreement dated March 26, 2026, which amends and restates its prior facility and runs through March 26, 2031. The prior facility was $550 million and was set to end December 22, 2026, so the new agreement increases borrowing capacity and extends the term; the company is not obligated to borrow under it.
Revolving loan limit of $700 million, up from $550 million under the prior credit agreement dated May 18, 2022
Term ends March 26, 2031; prior facility would have ended December 22, 2026
Letter of credit sublimit of $60 million and swing line sublimit of $40 million
Financial covenants start with the quarter ended June 30, 2026: interest coverage of at least 2.50 to 1.0 and debt to EBITDA of no more than 3.75 to 1.0
Trex entered an accelerated share repurchase (ASR) with Wells Fargo under a confirmation dated February 26, 2026, and paid a $100 million prepayment on February 27, 2026. The company received an initial delivery of about 1.9 million shares, and the final number of shares repurchased will depend on Trex's average stock price during the calculation period, so the total is not yet known. The prepayment was funded with borrowings under the company's line of credit.
Prepayment of $100 million to Wells Fargo made on February 27, 2026
Initial delivery of about 1.9 million shares, valued at about 80% of the prepayment based on the February 26, 2026 closing price
Calculation period runs from February 27, 2026 to May 21, 2026, with possible early termination or acceleration; Wells Fargo may accelerate the valuation date beginning April 9, 2026
Trex Company said CEO Bryan Fairbanks will resign as President, CEO and director effective April 28, 2026, and that Executive Vice President and COO Adam Zambanini will succeed him and join the Board that day. Fairbanks will stay on through April 27, 2026 to support the transition, then serve as a consultant. The filing reports no disagreement with the company as the reason for his departure.
Fairbanks resigns as President and CEO and as a director, effective April 28, 2026; the Board will remain at ten members.
Zambanini, 49, becomes CEO and a director; his salary rises to $900,000, and his target incentive awards increase to 110% of base salary (annual plan) and 450% (stock plan).
Fairbanks receives $16,666 per full month as a consultant during a consulting term ending April 30, 2027.
Trex announced fourth quarter and full year 2025 results in a separate release the same day, with a conference call at 4:30 p.m. ET.
Trex reported fourth-quarter and full-year 2025 results in a press release furnished as Exhibit 99.1. Full-year net sales rose 2.0% to $1.2 billion, but net income fell to $190 million from $238 million, and fourth-quarter net sales declined to $161 million from $168 million. The company also gave 2026 guidance for revenue of $1.185 billion to $1.230 billion and authorized a $150 million share repurchase for the first half of 2026.
Full-year net sales rose 2.0% to $1.2 billion; full-year net income was $190 million, or $1.78 per diluted share, versus $238 million, or $2.20, in 2024.
Fourth-quarter net sales were $161 million versus $168 million a year earlier; fourth-quarter net income was $2 million, or $0.02 per diluted share.
2026 guidance: revenue of $1.185 billion to $1.230 billion and adjusted EBITDA of $315 million to $340 million.
The board authorized a $150 million share repurchase program to be executed in the first half of 2026.
Trex Company appointed Irene Tasi, Senior Vice President and Chief Transformation Officer at PPG Industries, as a director effective February 9, 2026. The board said she will serve on the Audit and Compensation committees and will stand for election at the 2026 annual meeting, and that the board will have eleven directors, ten of them independent, until a previously disclosed director retirement takes effect.
Board appointed Ms. Tasi on February 6, 2026, effective February 9, 2026
Ms. Tasi will serve on the Audit Committee and Compensation Committee
Board will have eleven directors, ten independent, before reducing to ten after the 2026 annual meeting as director Kaplan retires
Ms. Tasi previously spent over 20 years at Masco Corporation before joining PPG in 2021
Trex Company appointed B. Andrew Rose, former President and CEO of Worthington Enterprises, as a director effective December 3, 2025. He will serve on the Audit and Compensation Committees, and the Board will have ten directors, nine of whom are independent, and the filing says the change is part of an ongoing board refreshment effort.
B. Andrew Rose appointed director effective December 3, 2025; board appointment made December 1, 2025
Rose to serve on the Audit and Compensation Committees; board will have ten directors, nine independent
Rose will stand for election at the 2026 annual meeting; director Ronald Kaplan, serving since 2008, will not stand for re-election
Trex reported third-quarter 2025 net sales of $285 million, up 22.1% from a year earlier, and net income of $52 million, or $0.48 per diluted share, versus $0.37 a year earlier. The company lowered its full-year 2025 sales outlook to $1.15 billion to $1.16 billion, about flat with 2024, and revised its adjusted EBITDA margin guidance to 28.0% to 28.5%, citing weaker repair and remodel demand and lower channel inventories. The board also authorized a $50 million share repurchase program.
Q3 2025 net sales $285 million, up 22.1%; adjusted diluted EPS $0.51 versus $0.37 in Q3 2024
Q4 2025 sales expected to range from $140 million to $150 million
Year-to-date net income $188 million, or $1.75 per diluted share, versus $217 million, or $1.99, in the first nine months of 2024
2026 gross margin expected to fall by about 250 basis points; the board authorized a $50 million share repurchase program
Trex Company appointed Prithvi S. Gandhi as Senior Vice President and Chief Financial Officer, effective October 6, 2025. He succeeds no one named in the filing and will serve as the company's principal financial and principal accounting officer. The filing sets out his pay package, including a $560,000 base salary and a $500,000 restricted stock unit grant that vests in full on October 6, 2028.
Effective date of appointment is October 6, 2025; appointed by the Board and Compensation Committee on September 30, 2025
Base salary of $560,000; annual cash incentive target of 75% of base salary and long-term equity incentive target of 205% of base salary
$500,000 time-based RSU grant, to be issued on the second day after the Q3 2025 earnings release, vesting October 6, 2028
$200,000 cash signing bonus, repayable if employment ends for Cause or on resignation without Good Reason within three years
Trex reported second-quarter 2025 net sales of $388 million, up 3% from $376 million a year earlier, but net income fell to $76 million, or $0.71 per diluted share, from $87 million, or $0.80. The company reaffirmed its full-year 2025 guidance of 5% to 7% revenue growth and adjusted EBITDA margin above 31%, and expects third-quarter sales of $295 million to $305 million, which matters to shareholders because profit declined while sales grew.
Q2 gross margin was 40.8%, down from 44.7% a year earlier, which the company attributed to its revised inventory strategy and one-time costs.
Adjusted diluted EPS was $0.73 for the quarter; first-half net income was $136 million, down 23% from $176 million.
Third-quarter 2025 net sales are expected to range from $295 million to $305 million.
Full-year 2025 guidance was reaffirmed at 5% to 7% revenue growth and adjusted EBITDA margin above 31%.
Trex Company said CFO Brenda Lovcik will resign, and she will remain in the role through August 5, 2025, when CEO Bryan Fairbanks takes over CFO duties on an interim basis. The company has begun a search for a permanent CFO. Trex also reiterated its full-year 2025 guidance of 5%-7% revenue growth and an Adjusted EBITDA margin above 31%, and said it is on track for second-quarter revenue of $370 million to $380 million.
Lovcik informed the company on June 23, 2025 of her intention to resign; the press release says she is accepting a position in Minnesota near her family.
Lovcik will continue as CFO until August 5, 2025, when Bryan Fairbanks assumes CFO responsibilities on an interim basis.
Fairbanks previously served as CFO from August 2015 until he was named CEO and a board member in April 2020.
Trex reiterated 2025 revenue growth guidance of 5%-7% and Adjusted EBITDA margin above 31%, and said it is on track for second-quarter revenue of $370 million to $380 million.
Trex reported first-quarter 2025 net sales of $340 million, down from $374 million a year earlier, and net income of $60 million, or $0.56 per diluted share, versus $89 million, or $0.82, in the 2024 quarter. The company said sales exceeded its own expectations and reaffirmed its full-year 2025 guidance of 5%-7% revenue growth, but lower profit and a gross margin of 40.5% versus 45.4% a year earlier mean shareholders saw weaker earnings even as the outlook held.
Net sales of $340 million vs. $374 million a year earlier, which included $40 million in extra channel inventory
Gross margin of 40.5% vs. 45.4%, which the company attributed to railing conversion costs, lower production and Enhance decking refinements
Second-quarter revenue guidance of $370 million to $380 million; full-year 2025 guidance reaffirmed at 5%-7% revenue growth
Adjusted diluted EPS of $0.60 and adjusted EBITDA of $101 million for the quarter
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