TREX

EX-99.2

2 trex-ex99_2.htm

EX-99.2

EX-99.2

Exhibit 99.2

Trex Company

First Quarter 2026 Earnings Conference Call

Thursday, May 07, 2026, 08:00 AM ET

CORPORATE PARTICIPANTS

Adam Zambanini--President and Chief Executive Officer

Prithvi Gandhi--Senior Vice President and Chief Financial Officer

Lee Coker-- Vice President, Corporate Development, and Investor Relations

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PRESENTATION

Operator

Good day, and welcome to the Trex Company, Inc. First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Lee Coker, Vice President of Corporate Development, and Investor Relations. Please go ahead.

Lee Coker

Thank you for joining us today, and good morning, everyone. With us on the call are Adam Zambanini, President and Chief Executive Officer, and Prith Gandhi, Senior Vice President, and Chief Financial Officer. The company issued a press release earlier this morning containing financial results for the first quarter of 2026. This release is available on the company's website. This conference call is also being webcast and will be available on the Investor Relations page of the company's website for 30 days.

Before we begin, let me remind everyone that statements on this call regarding the company's expected future performance and conditions constitute forward-looking statements within the meaning of federal securities laws. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. For a discussion on such risks and uncertainties, please see our most recent Form 10-K and Form 10-Q as well as our 1933 and other 1934 Act filings with the SEC.

Additionally, non-GAAP financial measures will be referenced in this call. A reconciliation of these measures to the comparable GAAP financial measure can be found in our earnings press release at trex.com. The company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

With that introduction, I will turn the call over to Adam.

Adam Zambanini

Thank you, Lee, and good morning, everyone. Before turning to the quarter, I want to acknowledge my first earnings call as CEO of Trex. Having been with the company for over 20 years, most recently as COO, I approach this role focused on continuity, execution and accelerating the strategy already in place. Our five-year plan is clear.

Our priorities are set and our focus remains on disciplined growth, operational excellence and delivering long-term value for the shareholders. As part of that work, our leadership team has sharpened focus, Trex vision, mission, and values to ensure that we remain aligned as we scale. This evolution, not a reset, and it reflects both where Trex is today and where we are going. Trex vision is to shape the future of outdoor living through purposeful innovation that enriches people's lives.

To support our ambitious growth and galvanize the organization, we recently codified five long-term strategic priorities. These priorities are designed to sharpen our focus and better leverage our strengths across marketing, innovation, and execution. Given their importance to our future growth, profitability, and long-term shareholder value creation, I'd like to touch on each priority in detail.

Trex Company

Thursday, May 07, 2026, 08:00 AM ET

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Our five long-term strategic priorities are as follows. First, it is to create an unbreakable bond with our end users, meaning the homeowner and pro contractors. Our goal is to deepen the Trex brand preference and loyalty through superior marketing, product experience, and service. While Trex remains the undisputed brand leader in the wood alternative market, we are committed to further strengthening that position through a continued investment.

We have already increased our investment in the branding and the marketing, highlighted by the launch of the next phase of our consumer and pro-focused campaign centered around “Performance-Engineered for Your Life Outdoors™” brand platform. This multichannel media campaign will sharpen the focus on wood to composite conversion while also emphasizing many of our key differentiators of Trex products, including our technical innovations like SunComfortable™ heat-mitigating technology as well as our marine and fire-rated solutions. I'm excited about the momentum that this campaign has produced and expect Trex to become increasingly visible with both the homeowner and pro contractors moving forward.

Meanwhile, we are investing in technology to improve our proactive lead generation among our programs to better support our valued pro contractors. This last quarter, we experienced significant double-digit increase in lead generation, pointing to the early success of this investment. We are confident that the

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

News release

TREX COMPANY REPORTS Solid first QUARTER 2026 RESULTS

Launches Five Long-Term Strategic Priorities

Well Positioned Heading Into Peak Deck-Building Season with Recent Home Center Stocking Wins

Executes and Expands Significant Share Repurchase Program

Reaffirms Full Year 2026 Guidance

First Quarter Financial Highlights

• Net sales of $343 million

• Gross margin of 40.5%

• Net income of $61 million and diluted earnings per share of $0.58

• Adjusted net income of $62 million and adjusted diluted earnings per share of $0.59

• Adjusted EBITDA of $103 million

WINCHESTER, Va. –May 7, 2026– Trex Company, Inc. [NYSE:TREX], the world’s largest manufacturer of wood-alternative composite decking and railing, and a leader in high-performance, low-maintenance outdoor living products, today announced financial results for the first quarter of 2026.

Commenting on the quarter, Adam Zambanini, President and CEO, said, “We entered 2026 with strong momentum and a renewed sense of energy and excitement driving the entire organization forward. During the quarter, Trex delivered solid results driven primarily by positive performance in our premium decking portfolio and supported by recent shelf space wins in retail. The Company also delivered strong margins, reflecting product mix, operational efficiencies and cost discipline.”

“During the quarter, we began to take decisive actions aligned with our new long-term strategic priorities, positioning the Company to return to above-industry growth through unmatched innovation, enhanced execution, and renewed investment in our brand, marketing, and customer experience.

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Long-Term Strategic Priorities

Trex recently launched five priorities to define a focused, durable path to long-term profitable growth and increased shareholder value:

1. Create an Unbreakable Bond with End Users: Deepen brand preference and loyalty across consumers, contractors, and pros through superior marketing, product experience, and service.

2. Launch High‑Performance Innovation: Continue to expand Trex’s leadership in material science and performance through products that represent the next generation of outdoor living solutions.

3. Optimize Channels for Growth: Strengthen distribution effectiveness and ensure Trex products are readily available across retail, dealer, and pro channels to drive above-market growth.

4. Lower the Cost of Railing: Drive cost efficiencies and design advancements to enhance margin structure and accelerate share gains in this fast‑growing product line.

5. Growth Enablement: Invest in the foundation – culture, technology, and talent – that powers sustainable growth. We’re strengthening our organization by aligning around accountability, upskilling for digital and commercial excellence, and fostering an innovation‑driven culture that empowers teams to act with speed and discipline.

“As I noted last quarter, driving growth through innovation remains a key priority. Our recently launched PVC decking product is performing well, leading us to expand into geographies beyond our initial West Coast rollout. The fire-rated product category represents an attractive market opportunity, and we are committed to competing aggressively to capture share in this and other potential growth areas through unmatched product innovation.

“Our refined incentive and marketing programs have been very well received by our channel partners further strengthening these valued relationships. We also are excited about the next phase of our consumer- and pro-focused marketing campaign centered around our “Performance-Engineered for Your Life Outdoors™” brand platform, which launched in May 2025. As we move forward, the Trex brand and our value proposition will become increasingly visible and strategically positioned, with the impact of these programs further enhanced by our investment in digital tools. In the first quarter our digital metrics showed consistent growth across key leading indicators, with high‑intent behaviors meaningfully outpacing overall traffic, signaling more deliberate consumer engagement,” noted Mr. Zambanini.

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Q1 2026 Financial Summary

All financial results comparisons made are against the prior-year period unless otherwise noted:

Net sales were $343 million compared to $340 million, an increase of 1%, due to positive price/mix in the quarter.

Gross profit was $139 million with gross margin of 40.5%, compared to gross profit of $138 million and gross margin of 40.5%. There were no adjustments to this year’s gross profit while last year’s adjusted gross profit, which excluded railing conversion costs of approximately $4 million, was $142 million. A favorable mix of higher margin premium decking boards and margin improvement from continued operational excellence programs helped to offset a $4M increase in depreciation expenses related to our Little Rock production facility. The Company experienced no

8-K/A

0001069878true00010698782026-02-242026-02-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 24, 2026

Trex Company Inc (Exact name of Registrant as Specified in Its Charter)

Delaware

001-14649

54-1910453

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

2500 Trex Way

Winchester, Virginia

22601

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 540 542-6300

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

TREX

New York Stock Exchange LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Explanatory Note This Amendment No. 1 to Trex Company Inc.'s Current Report on Form 8-K is furnished to include a transcript of the earnings conference call held on February 24, 2026.

Item 2.02 Results of Operations and Financial Condition

On February 24, 2026, Trex Company, Inc. (Company) issued a press release announcing its financial results for the three and twelve months ended December 31, 2025, as previously furnished. Also, on February 24, 2026, the Company held a conference call to discuss financial and operating results. A transcript of the conference call is attached hereto as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

(d) Trex Company, Inc. herewith furnishes the following exhibits:

Exhibit Number

Description of Exhibit

99.2

Transcript of the Trex Company, Inc. conference call held on February 24, 2026, to discuss financial and operating results for the three and twelve months ended December 31, 2025.

104.1

Cover page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TREX COMPANY, INC.

Date: March 13, 2026

/s/ Prithvi S. Gandhi

Prithvi S. Gandhi

Senior Vice President and Chief Financial Officer