Filing Flows › Trex (TREX) › Q1 2025
Trex (TREX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Trex (TREX) reported revenue of $340M for the first quarter 2025 (Q1 2025), -9% from a year earlier and +103% from the quarter before. Operating margin was 24.0%, net earnings $60.4M (17.8% of revenue).
Trex, Q1 2025: revenue $340M (-9% year over year), operating margin 24.0%, net earnings $60.4M, operating cash flow −$154M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $340M | +103% | -9% |
| Gross profit | $138M | +94% | -19% |
| Operating profit | $81.7M | +158% | -31% |
| Net earnings | $60.4M | +177% | -32% |
| Operating cash flow | −$154M | — | — |
What changed
Revenue was $340.0M in Q1 2025, down 9% year over year and up 103% from the previous quarter.
Gross margin was 40.5%, down 4.9 points from a year earlier. Operating profit was $81.7M, a 24.0% margin (down 7.8 points year over year). Operating expenses grew 11% against a revenue fall of 9%. Net earnings were $60.4M, down 32% year over year. The effective tax rate was 25.9%.
Operating cash flow was −$154.0M. Non-cash charges added back $14.2M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $231.0M. Capital expenditures of $79.5M exceeded it, leaving free cash flow of −$233.5M.
Questions
What was Trex's revenue in the first quarter 2025?
Trex (TREX) reported revenue of $340M for the first quarter 2025 (Q1 2025), -9% from a year earlier and +103% from the quarter before.
Was Trex profitable in the first quarter 2025?
Operating profit was $81.7M (24.0% of revenue) and net earnings $60.4M.
Source: Trex 10-Q on SEC EDGAR.