Filing Flows › Trex (TREX) › Q3 2025
Trex (TREX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Trex (TREX) reported revenue of $285M for the third quarter 2025 (Q3 2025), +22% from a year earlier and -26% from the quarter before. Operating margin was 24.7%, net earnings $51.8M (18.1% of revenue).
Trex, Q3 2025: revenue $285M (+22% year over year), operating margin 24.7%, net earnings $51.8M, operating cash flow $197M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $285M | -26% | +22% |
| Gross profit | $115M | -27% | +24% |
| Operating profit | $70.4M | -31% | +30% |
| Net earnings | $51.8M | -32% | +28% |
| Operating cash flow | $197M | -21% | +48% |
| Free cash flow | $143M | -30% | +162% |
What changed
Revenue was $285.3M in Q3 2025, up 22% year over year and down 26% from the previous quarter.
Gross margin was 40.5%, up 0.6 points from a year earlier. Operating profit was $70.4M, a 24.7% margin (up 1.4 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, above the 23% margin then. Operating expenses grew 16% against revenue growth of 22%. Net earnings were $51.8M, up 28% year over year. The effective tax rate was 26.5%.
Operating cash flow was $196.9M (up 48% year over year), 380% of net earnings. Non-cash charges added back $16.0M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $127.9M. Capital expenditures of $53.9M left free cash flow of $142.9M.
Questions
What was Trex's revenue in the third quarter 2025?
Trex (TREX) reported revenue of $285M for the third quarter 2025 (Q3 2025), +22% from a year earlier and -26% from the quarter before.
Was Trex profitable in the third quarter 2025?
Operating profit was $70.4M (24.7% of revenue) and net earnings $51.8M.
Source: Trex 10-Q on SEC EDGAR.