Welcome to our dedicated page for Quanex Building Products Corporation news (Ticker: NX), a resource for investors and traders seeking the latest updates and insights on Quanex Building Products Corporation stock.
Quanex Building Products Corporation (NX) is a leading manufacturer of components sold primarily to original equipment manufacturers (OEMs) in the building products industry. The company’s product portfolio includes engineered window and door components such as flexible insulating glass spacers, extruded vinyl profiles, window and door screens, solar panel sealants, and precision-formed metal and wood products.
Quanex operates through three main segments: North American Fenestration, which is a major revenue driver, European Fenestration, and North American Cabinet Components. The company derives a majority of its revenue from the United States, establishing a dominant market presence in the region.
At Quanex, customer success is a top priority. The company offers specialized components to bring new products to market, technical support to enhance production efficiency, and creative marketing to drive awareness. With unparalleled expertise in energy efficiency and sustainability standards, integrated system design, product development, and production processes, Quanex continually enhances the value its customers offer to their clients.
Quanex is committed to building strength in its people, systems, and processes. The company listens to its customers and anticipates future needs to remain the supplier of choice in the markets it serves.
Recent achievements include:
- Third Quarter 2023 Results Summary: Participants can pre-register for the conference call here.
- Fourth Quarter and Fiscal 2023 Results Summary.
- First Quarter 2024 Results Summary: Pre-register for the call here.
In addition, UBS Investment Bank serves as financial advisor, and legal counsel is provided by Foley & Lardner LLP and Travers Smith LLP. Quanex frequently hosts conference calls to discuss its financial performance, such as the upcoming session today at 8:30 a.m. ET.
Quanex Building Products Corporation (NYSE:NX) reported Q1 2023 results showing a 1.9% decline in net sales to $261.9 million compared to Q1 2022. The gross margin decreased to 19.8% with a net income drop to $1.9 million. The North American Fenestration segment grew 4.3% thanks to LMI acquisition, but excluding it, sales would have dropped 7%. The company maintains a strong balance sheet with liquidity of $263 million and low leverage at 0.8x. Expected net sales for FY 2023 are projected between $1.12 billion and $1.16 billion, with Adjusted EBITDA of $130 million to $142 million.
Quanex Building Products Corporation (NYSE:NX) has announced a quarterly cash dividend of $0.08 per share on its common stock. This dividend will be payable on March 31, 2023, to shareholders of record as of March 15, 2023. The company is recognized for its broad capabilities across various markets, including window, door, and cabinetry sectors. Quanex is focused on leveraging its material science and process engineering expertise to expand into new markets, positioning itself for future growth.
Quanex Building Products Corporation (NYSE: NX) announced the upcoming release of its first quarter 2023 results on March 9, 2023, after market close. A conference call will be held on March 10, 2023, at 11:00 a.m. ET to discuss the financial results. Investors can access the conference call via a pre-registration link and will receive details via email. The company, known for its manufacturing capabilities across diverse markets, aims to expand its reach through innovative solutions in various sectors including windows, doors, and cabinetry.
Quanex Building Products Corporation (NYSE:NX) reported strong financial results for the year ending October 31, 2022, with record revenues of $1.22 billion, a 13.9% increase from $1.07 billion in 2021. The fourth-quarter net sales reached $307.5 million, up 5.4% year-over-year. Net income grew to $88.3 million, with diluted EPS of $2.66. Free cash flow surged to $34.5 million, enabling the repayment of $25 million in bank debt. The company acquired LMI Custom Mixing, LLC for $92 million on November 1, 2022, with a focus on long-term growth.
Quanex Building Products Corporation (NYSE:NX) has declared a quarterly cash dividend of $0.08 per share on its common stock. The dividend is payable on December 30, 2022, to shareholders of record as of December 19, 2022. Quanex is focused on manufacturing solutions across various markets, including window, door, and cabinetry sectors, and intends to expand its reach through material science and process engineering expertise.
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