Bryan Fairbanks on share repurchase
From Trex Company, Inc TREX Q3 2025 Earnings Call · · Fyfull
“Our board of directors has authorized a $50 million share repurchase program.”
On , Bryan Fairbanks, President, Chief Executive Officer & Director at TREX CO INC, spoke about share repurchase during Trex Company, Inc TREX Q3 2025 Earnings Call on Fyfull.
About Bryan Fairbanks
Bryan Fairbanks, President and CEO of Trex, discussed the company's performance and market conditions during the third quarter 2025 earnings call on November 14, 2025. He stated that while the company anticipated some recovery in repair and remodel spending in 2025, consumer demand eased during August and September, causing third-quarter revenues to come in 5% below the midpoint of guidance. Fairbanks noted that sell-through was in the low single digits on a year-to-date basis, and that the company expects full-year 2025 sell-through to be in the low single-digit range, down from an earlier expectation of 5% to 7%. He attributed the slowdown to weaker market conditions and said the company is increasing marketing spending in response, describing it as a return to a more normalized level after pulling back during the COVID period. Fairbanks also announced that the board authorized a $50 million share repurchase program and said the company expects 2026 gross margin to be reduced by approximately 250 basis points due to mix impacts from double-digit railing growth and additional depreciation from the Arkansas facility expansion. In other recent appearances, Fairbanks commented on the impact of tariffs, stating that less than 5% of Trex's cost of goods sold is affected by tariffs and that the company is taking a conservative approach by negotiating with suppliers and considering alternative sourcing before taking pricing actions. He expressed encouragement about signs of pent-up demand in the repair and remodel market, noting that two consecutive years of negative spending typically leads to a recovery. Fairbanks highlighted the company's strategy of converting wood deck buyers to composite products, citing that the share of composites has grown from about 18% to 26% since 2019. He also emphasized the company's focus on railing as a growth area, stating that Trex is the number two alternative railing supplier in the U.S. and sees an opportunity to double that market share over five years. Fairbanks reiterated Trex's long-standing use of recycled materials, with over 95% recycled content in its deck boards, and described the company's continuous improvement program as a way to offset cost increases without passing them dollar-for-dollar to customers.