分组1 - Trex Company, Inc. (TREX) has experienced a 27% decline in value over the past nine months, which supports a cautious investment stance [1] - Recent attempts at recovery are noted, attributed to better-than-expected performance in Q4 2025 [1] - The analyst has a background in logistics and stock investing, focusing on various sectors including banks, telecommunications, logistics, and hotels [1] 分组2 - The analyst has been trading in the US market for four years and has diversified investments across different industries and market capitalizations [1] - The article reflects the analyst's personal insights and does not represent any business relationship with the companies mentioned [2]

On February 17, 2026, Masterton Capital Management, LP disclosed in an SEC filing that it sold 107,400 shares of Trex (NYSE:TREX) in the fourth quarter, an estimated $4.34 million transaction based on quarterly average pricing. What Happened According to a SEC filing dated February 17, 2026, Masterton Capital Management, LP reduced its position in Trex by 107,400 shares during the fourth quarter of 2025. The estimated value of the shares sold was approximately $4.34 million, calculated using the average ...

Financial Performance - Net sales for the year ended December 31, 2025, were $1,174,267, representing a 2.0% increase from $1,151,449 in 2024[172]. - Gross profit decreased by 8.4% to $459,964 in 2025 from $501,898 in 2024[172]. - Net income fell by 20.1% to $190,415 in 2025 compared to $238,446 in 2024[172]. - EBITDA decreased by 14.8% to $320,918 in 2025 from $376,573 in 2024[172]. - Total net sales for 2025 increased by $22.8 million, or 2.0%, to $1,174.3 million, primarily driven by a mid-single digit price increase on decking products[191]. - Gross profit decreased by $41.9 million, or 8.4%, to $460.0 million, with a gross margin of 39.2% compared to 43.6% in 2024, mainly due to higher raw material costs and inefficiencies at the Arkansas facility[192]. - Selling, general and administrative expenses rose by $22.0 million, or 12.2%, to $202.0 million, accounting for 17.2% of net sales, driven by increased personnel costs and branding expenses[193]. - EBITDA decreased by $55.7 million, or 14.8%, to $320.9 million, attributed to lower gross profit and higher operating expenses[195]. - Cash provided by operating activities increased significantly to $358.1 million in 2025, up from $143.9 million in 2024, due to decreased inventories and accounts receivable[199]. Capital Expenditures and Investments - Capital expenditures totaled $233.6 million in 2025, including $167.8 million for the construction of a new facility in Arkansas[172]. - Cash used in investing activities totaled $233.6 million, including $167.8 million for the construction of the Arkansas facility[200]. - Capital expenditure guidance for 2026 is set between $100 million and $120 million, focusing on internal growth, manufacturing cost reductions, and acquisitions[227]. Stock and Shareholder Activities - The company repurchased 1,526,927 shares of its common stock in 2025 under its stock repurchase programs[173]. - The company repurchased 1,526,927 shares under the 2023 Stock Repurchase Program, which allows for up to 10.8 million shares to be repurchased[202]. Tax and Financial Obligations - The effective tax rate for 2025 was 26.2%, slightly up from 25.9% in 2024, primarily due to excess tax expenses from stock-based awards[194]. - The Company has $133.5 million in outstanding borrowings under the revolving credit facility as of December 31, 2025, with total availability of $413.4 million[217]. - The Second Amendment to the Credit Agreement provides Revolving A Loans of up to $400 million and Revolving B Loans of up to $150 million, extending the maturity date of the Revolving B Loans to December 22, 2026[214]. - The applicable interest rate for Revolving B Loans ranges from 1.20% to 2.15% for Base Rate Loans and from 0.20% to 1.15% for Term SOFR Loans[211]. - The Company has purchase obligations under material supply contracts totaling $25.9 million for 2026, $24.6 million for 2027, and $9.7 million for 2028[223]. - The Company has operating lease liabilities of $12.4 million for 2026 and $32.2 million for the years 2027 through 2030[224]. - As of December 31, 2025, the gross asset and liability associated with the industrial revenue bonds was $450 million[221]. - The Company was in compliance with all debt covenants as of December 31, 2025[218]. - An increase of 1% in interest rates would not have a material adverse effect on the Company's overall financial position or liquidity[233]. - The Company does not have off-balance sheet financing arrangements[226]. Product Development and Market Position - Trex expanded its mid-tier composite decking options with new Performance Engineered™ boards, enhancing its product offerings[171]. - The company launched the Trex® Deck Railing Designer, an interactive tool to simplify the railing selection process for customers[176]. - Trex expanded its distribution reach through partnerships with International Wood Products, LLC and Weekes Forest Products, enhancing product accessibility[176]. - Trex was ranked among Barron's 100 Most Sustainable Companies for 2025, moving up 20 spots from the previous year[171]. Market Risks - Tariffs accounted for less than 5% of the cost of sales, mainly related to aluminum and steel purchases[188]. - The company has over 50 distributors worldwide, and significant increases in inventory levels without corresponding demand could adversely affect future sales[203].

Fairbanks said products introduced over the last 36 months accounted for 24% of 2025 sales, up from 18% in the prior year, which he characterized as evidence of strong product development and alignment with consumer preferences. He cited expanding the company’s heat-mitigating technology to additional decking products as a notable example.Zambanini told investors his focus will be on execution and building momentum for the next phase of growth, with an emphasis on “disciplined” innovation and continued mark ...

Group 1 - Leonardo, the Italian defense group, reported financial results for 2025 that exceeded its targets, showing significant increases in all key indicators and a reduction in debt [1][2] - CEO Roberto Cingolani stated that the company surpassed challenging guidance, which had already been upgraded during the year, marking the completion of a value-accretion path initiated three years ago [2] Group 2 - Nordex, an onshore wind turbine manufacturer, announced better-than-expected core profit for 2025 following a record order intake for the second consecutive year [3]

Earnings Per Share (EPS) of $0.02, surpassing estimates.Revenue reached $161.13 million, exceeding expectations.Financial Health indicated by a P/E ratio of approximately 22.46 and a low debt-to-equity ratio of 0.15.Trex Company, Inc. (NYSE:TREX) is a leading manufacturer of wood-alternative decking and railing products. As the largest in its industry, Trex has established a strong market presence. The company competes with other manufacturers in the building materials sector, focusing on sustainable and in ...

Core Insights - Trex Company Inc (TREX) is set to release its quarterly earnings on February 24, 2026, with analysts predicting an earnings per share (EPS) of around -$0.01 and revenue of approximately $144.5 million [2][7] - The stock has experienced a significant decline of approximately 36% over the past 12 months, largely due to Wasatch Advisors selling 1,563,974 shares valued at about $63 million [3][7] - Despite the stock's downturn, TREX maintains a price-to-earnings (P/E) ratio of approximately 21.89, indicating investor willingness to pay for earnings [4][7] Financial Metrics - The price-to-sales ratio for TREX is about 3.66, reflecting the value placed on each dollar of sales [4] - The enterprise value to sales ratio stands at around 3.78, suggesting the company's total valuation relative to its sales [5] - The enterprise value to operating cash flow ratio is approximately 15.79, indicating the company's valuation in relation to its cash flow from operations [5] Debt and Liquidity - TREX has a debt-to-equity ratio of roughly 0.15, indicating a relatively low level of debt compared to its equity [6] - The current ratio is approximately 1.20, demonstrating the company's ability to cover its short-term liabilities with its short-term assets [6] - These financial metrics highlight TREX's stability despite recent challenges in its stock performance [6][7]

Trex (NYSE:TREX) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Company ParticipantsAdam D. Zambanini - EVP and COOAmy M. Fernandez - SVP, Chief Legal Officer, Secretary and Chief Sustainability OfficerBryan H. Fairbanks - President and CEOCasey Kotary - Director of Investor RelationsD. Christian Keffer - DirectorPrithvi S. Gandhi - SVP and CFOSteven Ramsey - Deputy Director of ResearchTrey Grooms - Managing DirectorConference Call ParticipantsAdam Baumgarten - AnalystColin Verdon - AnalystJohn Lovallo ...

Trex (NYSE:TREX) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Company ParticipantsAdam D. Zambanini - EVP and COOAmy M. Fernandez - SVP, Chief Legal Officer, Secretary and Chief Sustainability OfficerBryan H. Fairbanks - President and CEOCasey Kotary - Director of Investor RelationsD. Christian Keffer - DirectorPrithvi S. Gandhi - SVP and CFOSteven Ramsey - Deputy Director of ResearchTrey Grooms - Managing DirectorConference Call ParticipantsAdam Baumgarten - AnalystColin Verdon - AnalystJohn Lovallo ...

Trex (NYSE:TREX) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Speaker12Good day, and welcome to the Trex Company, Inc. fourth quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press Star then 1 on a touch-tone phone. To withdraw your question, please press Star ...