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TREX
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Latest analysis
Updated Sep 2, 2026
Trex replaces Boise Cascade with SBP as sole national distributor, raises FY2026 revenue guidance to $1.215B-$1.25B on Q2 beat.
Trex announced a structural overhaul of its two-step distribution network, appointing Specialty Building Products as sole national distributor and exiting Boise Cascade — a move rooted in SBP's national scale following its OrePac acquisition and Trex's strategic push for exclusive, brand-led distributor alignment. Preliminary Q2 net sales of approximately $418 million came in materially above the guided range of $388 million to $403 million, driven by broad-based demand with no channel load-in benefit, prompting a raise in full-year 2026 revenue guidance to $1.215 billion to $1.25 billion and adjusted EBITDA guidance to $335 million to $350 million. Management characterized the transition as financially immaterial in the near term while framing the distribution realignment as a long-term offensive move to accelerate market share gains against wood and consolidate Trex's brand primacy across every distributor portfolio.
Tone: bullishRevenue
$1.2B
TREX 10-K · FY 2025
Employees
1,839
Revenue growth YoY
+2%
Founded
1998
Profile
TREX 10-K Item 1 · Feb 25, 2026Trex Company is the world's largest manufacturer of composite decking and railing products, sold under the Trex brand and manufactured entirely in the United States. The company also offers fencing, cladding, fasteners, and outdoor lighting, distributing through wholesale dealers and major home improvement retailers. Its products are made from 95% recycled and reclaimed materials, positioning Trex as a sustainability-focused alternative to wood decking.
Read filing description ↓ Collapse description ↑
Trex Company, Inc. was incorporated as a Delaware corporation in 1998 and is the world's largest manufacturer of high-performance, low-maintenance, eco-friendly wood-alternative composite decking and railing and a leader in outdoor living products, with more than 30 years of product experience. Trex products are marketed under the brand name Trex and manufactured in the United States. Stocked in more than 6,700 retail locations worldwide, Trex offers a comprehensive set of aesthetically appealing and durable, low-maintenance product offerings in the decking, railing, fencing, cladding and outdoor lighting categories. A majority of the products are eco-friendly and leverage recycled and reclaimed materials to the extent possible. Trex decking is made in a proprietary process that combines reclaimed wood fibers and recycled polyethylene film, making Trex one of the largest recyclers of waste polyethylene plastic film in North America. Our composite deck boards do not rot, warp, or splinter and the versatile colors feature a refined wood grain that adds depth and luxury to any backyard. Trex products are sold to distributors and home centers for final resale primarily to the residential market. The Company operates in one reportable segment. Trex's growth and margin expansion strategy includes accelerating material conversion from wood, increasing system attachment rates in railing, growing the decking category through sustainable innovation, modernizing digital experiences, and pursuing strategic value-accretive acquisitions.
Primary products
- Trex Signature decking
- Trex Transcend Lineage decking
- Trex Transcend decking
- Trex Select decking
- Trex Enhance decking
- Trex Hideaway Fastener Collection
Business segments
End markets
Geographies
Named customers
For the years ended December 31, 2025, 2024, and 2023, three customers represented approximately 73%, 81%, and 72%, respectively, of the Company's total net sales. No other customer represented 10% or more of the Company's total net sales.
Named competitors
“Industry studies indicate that we have the leading market share of the wood-alternative segment of the decking and railing market.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net sales increased $22.8 million, or 2.0%, in 2025 compared to 2024, as shown in the MD&A financial performance highlights table.
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