-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：Trex公司2026年第一季業績表現強勁，淨銷售額增長1%至3.43億美元，毛利率保持在40.5%，儘管新落成的小石城工廠產生了400萬美元的額外折舊。淨利潤增加至6,100萬美元（每股0.58美元），調整後EBITDA成長2%至1.03億美元，顯示在住宅市場逆風的情況下，公司仍保持了強勁的現金流。新任執行長Adam Zambanini推出了五個策略重點，專注於終端用戶關係和創新。同時，該公司擴大了PVC甲板的銷售，並透過1.5億美元的股票回購實現了積極的資本回報。儘管維修和翻新市場低迷或持平，管理層仍重申了2026年營收11.85億至12.3億美元、調整後EBITDA 3.15億至3.4億美元的業績預期。我們相信，隨著資本支出在 2027 年恢復到收入的 5-6% 的維持水平，公司將有良好的基礎實現自由現金流的大幅增長；同時，戰略舉措和強勁的資產負債表將支持長期增長，儘管短期內市場面臨挑戰。
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