$TREX
TREX CO INC

2023 Q2 Form 10-Q Financial Statement

#000119312523138415 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $356.5M $238.7M $339.2M
YoY Change -7.69% -29.63% 38.18%
Cost Of Revenue $200.1M $144.3M $204.3M
YoY Change -12.58% -29.38% 36.48%
Gross Profit $156.4M $94.43M $134.9M
YoY Change -0.59% -30.01% 40.83%
Gross Profit Margin 43.88% 39.56% 39.77%
Selling, General & Admin $51.68M $37.48M $39.96M
YoY Change 30.61% -6.21% 27.67%
% of Gross Profit 33.03% 39.69% 29.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.28M $11.92M $10.47M
YoY Change 8.4% 13.77% 63.64%
% of Gross Profit 7.85% 12.62% 7.76%
Operating Expenses $51.68M $37.48M $39.96M
YoY Change 30.61% -6.21% 27.67%
Operating Profit $104.8M $56.95M $94.95M
YoY Change -11.07% -40.02% 47.21%
Interest Expense -$1.305M -$1.985M -$14.00K
YoY Change -1225.0% 14078.57%
% of Operating Profit -1.25% -3.49% -0.01%
Other Income/Expense, Net
YoY Change
Pretax Income $103.5M $54.96M $94.94M
YoY Change -12.26% -42.11% 47.19%
Income Tax $26.43M $13.80M $23.73M
% Of Pretax Income 25.54% 25.11% 24.99%
Net Earnings $77.04M $41.13M $71.21M
YoY Change -13.36% -42.24% 46.69%
Net Earnings / Revenue 21.61% 17.23% 20.99%
Basic Earnings Per Share $0.71 $0.38 $0.62
Diluted Earnings Per Share $0.71 $0.38 $620.0K
COMMON SHARES
Basic Shares Outstanding 108.8M 108.8M 114.6M
Diluted Shares Outstanding 108.9M 108.9M 114.9M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.226M $3.916M $115.2M
YoY Change -74.62% -96.6% 1304.73%
Cash & Equivalents $4.226M $3.916M $115.2M
Short-Term Investments
Other Short-Term Assets $9.593M $339.0K $13.26M
YoY Change 1928.12% -97.44% 22.76%
Inventory $74.01M $127.8M $98.18M
Prepaid Expenses $9.314M $10.74M
Receivables $266.8M $302.1M $209.8M
Other Receivables $14.81M $14.63M $723.0K
Total Short-Term Assets $369.4M $459.5M $437.2M
YoY Change 15.72% 5.11% 6.6%
LONG-TERM ASSETS
Property, Plant & Equipment $674.8M $617.5M $510.0M
YoY Change 33.51% 21.08% 23.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.244M $7.004M $6.334M
YoY Change -4.8% 10.58% 31.96%
Total Long-Term Assets $700.4M $673.6M $535.2M
YoY Change 23.29% 25.86% 9.19%
TOTAL ASSETS
Total Short-Term Assets $369.4M $459.5M $437.2M
Total Long-Term Assets $700.4M $673.6M $535.2M
Total Assets $1.070B $1.133B $972.4M
YoY Change 20.57% 16.53% 8.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.23M $23.14M $61.71M
YoY Change -44.27% -62.51% 57.42%
Accrued Expenses $68.72M $51.27M $56.72M
YoY Change -10.46% -9.62% -2.54%
Deferred Revenue
YoY Change
Short-Term Debt $206.0M $369.5M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $322.8M $447.8M $143.0M
YoY Change 132.52% 213.08% -39.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $55.27M $11.56M $64.34M
YoY Change 378.11% -82.03% 24.7%
Total Long-Term Liabilities $55.27M $11.56M $64.34M
YoY Change 378.11% -82.03% 24.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $322.8M $447.8M $143.0M
Total Long-Term Liabilities $55.27M $11.56M $64.34M
Total Liabilities $446.3M $572.9M $251.3M
YoY Change 81.55% 127.96% -18.95%
SHAREHOLDERS EQUITY
Retained Earnings $1.249B $1.172B
YoY Change 12.9%
Common Stock $135.7M $133.6M
YoY Change 3.97%
Preferred Stock
YoY Change
Treasury Stock (at cost) $761.0M $745.3M
YoY Change 27.86%
Treasury Stock Shares $32.10M
Shareholders Equity $623.5M $560.2M $721.1M
YoY Change
Total Liabilities & Shareholders Equity $1.070B $1.133B $972.4M
YoY Change 20.57% 16.53% 8.01%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $77.04M $41.13M $71.21M
YoY Change -13.36% -42.24% 46.69%
Depreciation, Depletion And Amortization $12.28M $11.92M $10.47M
YoY Change 8.4% 13.77% 63.64%
Cash From Operating Activities $223.3M -$115.5M $73.88M
YoY Change 92.27% -256.3% -151.81%
INVESTING ACTIVITIES
Capital Expenditures $43.17M $39.19M -$22.29M
YoY Change -197.4% -275.84% -61.64%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$43.17M -$39.19M -$22.29M
YoY Change -2.5% 75.84% -61.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -179.8M 146.3M -77.46M
YoY Change 5.52% -288.82% -189.13%
NET CHANGE
Cash From Operating Activities 223.3M -115.5M 73.88M
Cash From Investing Activities -43.17M -39.19M -22.29M
Cash From Financing Activities -179.8M 146.3M -77.46M
Net Change In Cash 310.0K -8.409M -25.87M
YoY Change -100.31% -67.49% -77.21%
FREE CASH FLOW
Cash From Operating Activities $223.3M -$115.5M $73.88M
Capital Expenditures $43.17M $39.19M -$22.29M
Free Cash Flow $180.1M -$154.7M $96.17M
YoY Change 12.25% -260.83% -213.81%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001069878
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108771958
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
TREX CO INC
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-14649
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
54-1910453
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
160 Exeter Drive
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Winchester
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
VA
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
22603-8605
CY2023Q1 dei City Area Code
CityAreaCode
540
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
542-6300
CY2023Q1 dei Security12b Title
Security12bTitle
Common stock
CY2023Q1 dei Trading Symbol
TradingSymbol
TREX
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NYSE
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
108803516
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
238718000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
339228000
CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
144290000
CY2022Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
204316000
CY2023Q1 us-gaap Gross Profit
GrossProfit
94428000
CY2022Q1 us-gaap Gross Profit
GrossProfit
134912000
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37480000
CY2022Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
39960000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
56948000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
94952000
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1985000
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-14000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
54963000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
94938000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13832000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23727000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
41131000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
71211000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114638424
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108916261
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114853881
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
41131000
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
71211000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3916000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12325000
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
302071000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
98057000
CY2023Q1 us-gaap Inventory Net
InventoryNet
127784000
CY2022Q4 us-gaap Inventory Net
InventoryNet
141355000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
25712000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
35105000
CY2023Q1 us-gaap Assets Current
AssetsCurrent
459483000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
286842000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
617503000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
589892000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30654000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30991000
CY2023Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
18477000
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
18582000
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7004000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7398000
CY2023Q1 us-gaap Assets
Assets
1133121000
CY2022Q4 us-gaap Assets
Assets
933705000
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
23136000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
19935000
CY2023Q1 trex Accrued Liabilities And Other Liabilities Current Excluding Warranty
AccruedLiabilitiesAndOtherLiabilitiesCurrentExcludingWarranty
50529000
CY2022Q4 trex Accrued Liabilities And Other Liabilities Current Excluding Warranty
AccruedLiabilitiesAndOtherLiabilitiesCurrentExcludingWarranty
44064000
CY2023Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
4600000
CY2022Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
4600000
CY2023Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
369500000
CY2022Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
222000000
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
447765000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
290599000
CY2023Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
68224000
CY2022Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
68224000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
23318000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
23974000
CY2023Q1 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
22077000
CY2022Q4 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
20999000
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
11560000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
11560000
CY2023Q1 us-gaap Liabilities
Liabilities
572944000
CY2022Q4 us-gaap Liabilities
Liabilities
415356000
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
360000000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
360000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
140901926
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
140841833
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
108803516
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
108743423
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
1409000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
1408000
CY2023Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
132235000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
131539000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1171805000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1130674000
CY2022Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
32098410
CY2023Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
32098410
CY2023Q1 us-gaap Treasury Stock Value
TreasuryStockValue
745272000
CY2022Q4 us-gaap Treasury Stock Value
TreasuryStockValue
745272000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
560177000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
518349000
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1133121000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
933705000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
518349000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
41131000
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
316000
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1592000
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1973000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
560177000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
725034000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
71211000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
523000
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2912000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
2226000
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
75017000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
721065000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
41131000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
71211000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11915000
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10473000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1972000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2226000
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-121000
CY2022Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-77000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
204014000
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
49825000
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-13571000
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
14423000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-291000
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1560000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2975000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
36605000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
3361000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-6149000
CY2023Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
13206000
CY2022Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
22124000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-115471000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
73879000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39192000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22288000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-39192000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22288000
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
200500000
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
53000000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1592000
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
77929000
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
316000
CY2022Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
523000
CY2023Q1 trex Payments For Proceeds From Financing Costs
PaymentsForProceedsFromFinancingCosts
-30000
CY2022Q1 trex Payments For Proceeds From Financing Costs
PaymentsForProceedsFromFinancingCosts
50000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
146254000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-77456000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8409000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25865000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12325000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
141053000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3916000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115188000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1817000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
733000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1604000
CY2023Q1 trex Capital Expenditures In Accounts Payable
CapitalExpendituresInAccountsPayable
229000
CY2022Q1 trex Capital Expenditures In Accounts Payable
CapitalExpendituresInAccountsPayable
239000
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1.</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="font-weight:bold;display:inline;">BUSINESS AND ORGANIZATION </div></div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Trex Company, Inc. (Trex, Company), a Delaware corporation, was incorporated on September 4, 1998. As of December 30, 2022, the Company operates in one reportable segment, Trex Residential Products (Trex Residential). Through December 30, 2022, Trex had one wholly-owned subsidiary, Trex Commercial Products, Inc. (Trex Commercial) and operated in two reportable segments, Trex Residential and Trex Commercial. </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Trex Residential, the Company’s principal business based on net sales, is the world’s largest manufacturer of high-performance, <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">low-maintenance</div> wood-alternative decking and residential railing and outdoor living products and accessories, marketed under the brand name Trex<div style="font-size:75%; vertical-align:top;display:inline;;font-size:8.3px">®</div>, with more than 30 years of product experience. A majority of its products are manufactured in a proprietary process that combines reclaimed wood fibers and scrap polyethylene. The principal executive offices are located at 160 Exeter Drive, Winchester, Virginia 22603, and the telephone number at that address is <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">(540) 542-6300.</div> </div>
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
98573000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
107114000
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
64262000
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
69292000
CY2023Q1 us-gaap Inventory Gross
InventoryGross
162835000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
176406000
CY2023Q1 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
35051000
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
35051000
CY2023Q1 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
127784000
CY2022Q4 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
141355000
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10738000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10787000
CY2023Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
14635000
CY2022Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
23979000
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
339000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
339000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
25712000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
35105000
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
6300000
CY2023Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
6300000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2000000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1900000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2023Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
18300000
CY2022Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
19194000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10413000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8646000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7731000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7488000
CY2023Q1 trex Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
3084000
CY2022Q4 trex Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
3425000
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3863000
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
0
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7138000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5311000
CY2023Q1 trex Accrued Liabilities And Other Liabilities Current Excluding Warranty
AccruedLiabilitiesAndOtherLiabilitiesCurrentExcludingWarranty
50529000
CY2022Q4 trex Accrued Liabilities And Other Liabilities Current Excluding Warranty
AccruedLiabilitiesAndOtherLiabilitiesCurrentExcludingWarranty
44064000
CY2023Q1 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2024-11-05
CY2023Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
369500000
CY2023Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
180500000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2100000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2100000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0225
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.021
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2120000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2174000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1541000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6053000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30654000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30991000
CY2023Q1 trex Lessee Operating Leases Accrued Expenses And Other Current Liabilities
LesseeOperatingLeasesAccruedExpensesAndOtherCurrentLiabilities
7731000
CY2022Q4 trex Lessee Operating Leases Accrued Expenses And Other Current Liabilities
LesseeOperatingLeasesAccruedExpensesAndOtherCurrentLiabilities
7488000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
23318000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
23974000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
31049000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
31462000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5960000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7290000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5456000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4755000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4400000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4844000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
32705000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1656000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
31049000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
41131000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
71211000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108771958
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114638424
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108916261
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114853881
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
339228000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1972000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2226000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
18600000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.252
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13800000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23700000
CY2023Q1 trex Excess Tax Benefits From Stock Based Awards
ExcessTaxBenefitsFromStockBasedAwards
200000
CY2022Q1 trex Excess Tax Benefits From Stock Based Awards
ExcessTaxBenefitsFromStockBasedAwards
100000
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3000000
CY2022Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q1 trex Sensitivity Change In Surface Flaking Warranty Reserve
SensitivityChangeInSurfaceFlakingWarrantyReserve
1600000
CY2021Q4 us-gaap Area Of Land
AreaOfLand
300

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
trex-20230331_cal.xml Edgar Link unprocessable
0001193125-23-138415-index-headers.html Edgar Link pending
0001193125-23-138415-index.html Edgar Link pending
0001193125-23-138415.txt Edgar Link pending
0001193125-23-138415-xbrl.zip Edgar Link pending
d484584d10q.htm Edgar Link pending
d484584dex101.htm Edgar Link pending
d484584dex311.htm Edgar Link pending
d484584dex312.htm Edgar Link pending
d484584dex32.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
g484584snap1.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
d484584d10q_htm.xml Edgar Link completed
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
trex-20230331.xsd Edgar Link pending
trex-20230331_def.xml Edgar Link unprocessable
trex-20230331_lab.xml Edgar Link unprocessable
trex-20230331_pre.xml Edgar Link unprocessable