Trex Company (TREX) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Trex Company published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Trex Company reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Trex reports a single segment. It estimated that about $30 million of Q3 2026 net sales came from initial inventory load-in at new and expanded distribution partners, after naming Specialty Building Products its sole national distributor of decking and railing in North America.
• Adjusted figures exclude Arkansas plant start-up costs, digital transformation costs and, in 2025, railing conversion costs.

Source: Trex Company Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

From the earnings release

Trex gives its outlook as a table in the release. Full year 2026: net sales of $1,296 million to $1,306 million, adjusted EBITDA of $355 million to $360 million, depreciation and amortization of about $85 million, adjusted SG&A of about 17% of net sales, interest expense of $4 million to $6 million, an effective tax rate of 26.0% to 27.0% and capital expenditures of about $100 million. Q4 2026: net sales of $175 million to $185 million.

In its Q3 2026 release, Trex Company said:

“The Company is raising its full-year 2026 guidance, highlighted by increased revenue and adjusted EBITDA expectations.”

Source: Trex Company Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the TREX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS, each as first reported in that quarter's release. Trex's sales are seasonal: it offers distributors and dealers incentives to stock up before the deck-building season, so the fourth quarter is usually its smallest.

We do not hold a confirmed date for Trex Company's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Trex Company had net sales of $359.5 million in Q3 2026, up 26.0% from $285.3 million a year earlier, a record for a third quarter. Trex reports one segment: wood-alternative composite decking and railing plus related outdoor living products, sold to distributors and two national retailers who sell mainly into residential replacement, remodeling and new construction. (Trex Company Q3 2026 release, Nov 4, 2026; Trex Company Form 10-Q, Q3 2026, Nov 4, 2026)

Trex said the increase was substantially all volume, partially offset by the mix of products sold, and that it was led by the Trex Enhance product line. CEO Adam Zambanini said growth remained overwhelmingly volume-driven, with minimal benefit from pricing. (Trex Company Form 10-Q, Q3 2026, Nov 4, 2026; Trex Company Q3 2026 release, Nov 4, 2026)

Part of the quarter was a one-time channel fill. Trex named Specialty Building Products its sole national distributor of decking and railing across North America and expanded regional relationships with WS Building Materials, Coastal Forest Products and BlueLinx. It estimates about $30 million of Q3 revenue came from initial distribution load-in, while inventory held by its former distribution partner continued to be reduced; it said overall channel inventory was comparable to the prior year. (Trex Company Q3 2026 release, Nov 4, 2026; Trex Company Form 10-Q, Q3 2026, Nov 4, 2026)

Trex's customer base is concentrated. Its 10-K says three customers represented about 73% of total net sales in 2025, against 81% in 2024. Home Depot and Lowe's buy directly from Trex for their shelves and also buy through its wholesale distributors for special orders. (Trex Company Form 10-K, 2025, Feb 25, 2026)

Gross margin fell to 36.0% from 40.5%. Trex attributed the drop to higher depreciation from recent capacity investments, transportation costs tied to higher diesel prices, and labor as production began at its Arkansas plant, where a temporary mechanical issue raised start-up costs. Trex expects the plant to have about 50% of its existing decking production capacity running by year-end. (Trex Company Q3 2026 release, Nov 4, 2026; Trex Company Form 10-Q, Q3 2026, Nov 4, 2026)

Trex Company earned $0.52 per diluted share under GAAP in Q3 2026, against $0.48 a year earlier, on net income of $52.5 million, little changed from $51.8 million. Adjusted diluted EPS was $0.55, against $0.51. The adjustments add back $3.3 million of Arkansas start-up costs and $1.0 million of digital transformation costs, less a $1.2 million tax effect. (Trex Company Q3 2026 release, Nov 4, 2026)

Most of the EPS increase came from a smaller share count. Diluted weighted average shares fell to 101,827,361 from 107,332,641. Trex repurchased about 1.2 million shares for $55 million in the quarter and 5.2 million shares over the first nine months, and expects to finish its $150 million authorization by year-end, bringing 2026 repurchases to about $300 million. (Trex Company Q3 2026 release, Nov 4, 2026; Trex Company Form 10-Q, Q3 2026, Nov 4, 2026)

The effective tax rate was 26.8%, against 26.5% a year earlier. Trex also began paying interest, $0.8 million in the quarter, after drawing on its revolving credit facility; it repaid $83 million of that facility during Q3 and had $170.0 million outstanding at September 30. (Trex Company Form 10-Q, Q3 2026, Nov 4, 2026; Trex Company Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Trex Company publishes a numeric outlook in its release and raised it again with Q3 2026 results. It now guides full-year 2026 net sales of $1,296 million to $1,306 million and adjusted EBITDA of $355 million to $360 million, and Q4 2026 net sales of $175 million to $185 million. (Trex Company Q3 2026 release, Nov 4, 2026)

The full-year outlook also assumes depreciation and amortization of about $85 million, adjusted SG&A of about 17% of net sales, interest expense of $4 million to $6 million, an effective tax rate of 26.0% to 27.0% and capital expenditures of about $100 million. Trex does not reconcile forward adjusted EBITDA to net income. (Trex Company Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Trex Company, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Trex Company's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning TREX is on is TREX a buy or a sell?, what analysts expect next is on the TREX forecast, and what the company does is on the Trex Company (TREX) stock page.

Every number on this page can be traced to a document Trex Company published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.