Quanex Building Products Corporation - NX STOCK NEWS

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.

Quanex Building Products Corporation (NYSE: NX) plans to release its fourth quarter and fiscal year 2022 results on December 15, 2022, after market close. A conference call is scheduled for December 16, 2022, at 11:00 a.m. ET to discuss the results. Interested parties can access the live audio webcast on Quanex's website. Participants are encouraged to pre-register for the call to receive detailed dial-in information.

Quanex aims to enhance its market position by leveraging its material science expertise in various sectors.

Quanex Building Products Corporation (NYSE: NX) has acquired LMI Custom Mixing, LLC for $92 million, netting $79 million after tax benefits. This strategic acquisition, funded through cash and credit, is anticipated to deliver $500,000 in synergies in the first year. LMI, known for high-quality custom rubber compounds, is projected to generate $80 million in revenue and a 15% EBITDA margin in fiscal 2023. The acquisition aligns with Quanex’s growth strategy and enhances its material science capabilities, potentially driving significant revenue growth.

Quanex Building Products Corporation (NYSE:NX) reported a robust 15.8% revenue growth to $324.0 million for Q3 2022, driven by higher pricing strategies amid inflationary pressures. The gross margin rose to 22.4%, with net income hitting $25.9 million, up from $13.6 million last year. Free cash flow surged to $46.0 million. The company repaid $25 million in bank debt and authorized $75 million for stock repurchases. Despite strong performance, a slight softening in demand, particularly in Europe and North America, is noted. The guidance for FY 2022 remains optimistic, projecting net sales between $1.18 billion to $1.2 billion.