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Trex (TREX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Trex (TREX) Q3 2026 earnings results →
Q3 2026 Revenue up 26% year over year to $360M · 15¢ of every $1 of revenue kept as net profit · operating margin 20.2%
Trex made $360M in Q3 2026 (+26% Y/Y). Operating margin 20.2%, net earnings $52.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $359.5M in Q3 2026, up 26% year over year and down 14% from the previous quarter.
Gross margin was 36.0%, down 4.4 points from Q3 2025. Operating profit was $72.5M, a 20.2% margin (down 4.5 points year over year). Of the extra revenue versus Q3 2025, 3% reached operating profit, below the 25% margin then. Operating expenses grew 26% against revenue growth of 26%. Net earnings were $52.5M, up 1% year over year. The effective tax rate was 26.8%.
Operating cash flow was $152.6M (down 22% year over year), 291% of net earnings. Non-cash charges added back $22.2M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $75.3M. After expenditures for property, plant and equipment ($16.6M) and purchased intangibles ($1.4M), free cash flow as the company reports it was $134.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $360M | +26% | 20.2% | $52.5M | $153M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $418M | +8% | 20.6% | $61.9M | $214M |
| Q1 2026 | 10-Q | May 7, 2026 | $343M | +1% | 24.3% | $61.4M | −$118M |
| Q4 2025 | 10-K | Feb 25, 2026 | $161M | -4% | 2.2% | $2.3M | $65.5M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $285M | +22% | 24.7% | $51.8M | $197M |
| Q2 2025 | 10-Q | Aug 4, 2025 | $388M | +3% | 26.4% | $75.9M | $250M |
| Q1 2025 | 10-Q | May 8, 2025 | $340M | -9% | 24.0% | $60.4M | −$154M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Trex
Trex Company, Inc. (Trex, Company, we, us or our), was incorporated as a Delaware corporation in 1998. The Company is the world’s largest manufacturer of composite decking and railing products, which are marketed under the brand name Trex ® and manufactured in the United States. Our principal executive offices are located at 2500 Trex Way, Winchester, Virginia 22601, and our telephone number at that address is (540) 542-6300. More than 30 years ago, Trex invented the composite decking category. Today, Trex continues to reinvent and redefine outdoor living with a commitment to innovation and growth that has made Trex the world’s #1 brand of sustainably made wood-alternative decking and deck railing, along with a comprehensive portfolio of sustainable, high performance, low-maintenance outdoor living products including fencing, cladding, fasteners, and outdoor lighting.
In its own words, from its 10-K, filed Feb 25, 2026.
Trex against its Lumber & Wood Products (No Furniture) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +4%. Operating margin: 20.2% against the peers' median 6.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TREX Trex | Q3 2026 | $360M | +26% | 20.2% |
| LPX Louisiana-Pacific | Q3 2026 | $691M | +4% | 4.2% |
| KOP Koppers Holdings | Q3 2026 | $499M | +3% | 6.1% |
Source: Trex 10-Q on SEC EDGAR · CIK 1069878 · Lumber & Wood Products (No Furniture)
Guidance and outlook
13F: who owns TREX and who is buying
More on TREX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results