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) 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.
Quanex Building Products Corporation (NYSE:NX) announced a quarterly cash dividend of $0.08 per share, payable on September 30, 2022, to shareholders on record as of September 16, 2022. This reflects the company's commitment to returning value to its shareholders. Quanex is a leading manufacturer of components for OEMs in the building products sector, specializing in energy-efficient fenestration products and kitchen and bath cabinet components.
Quanex Building Products Corporation (NYSE: NX) announced its third quarter 2022 results release scheduled for September 1, 2022, after market close. A conference call to discuss these results will occur on September 2, 2022, at 11:00 a.m. ET. Interested participants can pre-register through a provided link. Quanex is recognized for manufacturing energy-efficient components for OEMs in the building products sector, including fenestration products and kitchen and bath cabinetry.
Quanex Building Products Corporation (NYSE:NX) has announced an amended credit facility, extending the maturity of its $325 million revolver by five years to July 2027. The facility's interest rates will vary based on the company's net leverage ratio, with existing borrowings of approximately $58 million moving to this new structure. CFO Scott Zuehlke highlighted that this development provides the company with flexibility to fund growth and maintain a strong balance sheet, positioning it to create more value for shareholders.
Quanex Building Products Corporation (NYSE:NX) reported record revenue and earnings for Q2 2022, with net sales reaching $322.9 million, a 19.4% increase from $270.4 million in Q2 2021. Net income was $26.5 million, up from $14.6 million a year earlier. The company benefited from its pass-through pricing strategy, which helped offset inflation. Despite challenges in working capital management, liquidity remained strong at $296.5 million. Quanex increased its fiscal 2022 guidance, projecting net sales of $1.18 billion to $1.2 billion and $150 million to $155 million in Adjusted EBITDA.
Quanex Building Products Corporation (NYSE:NX) announced a quarterly cash dividend of $0.08 per share on May 26, 2022. This dividend is payable on June 30, 2022, to shareholders of record as of June 15, 2022. Quanex is a leading manufacturer of components in the building products sector, specializing in energy-efficient fenestration products and kitchen and bath cabinet components.
Quanex Building Products Corporation (NYSE: NX) announced it will release its second quarter 2022 results on June 2, 2022, after market close. A conference call is scheduled for June 3, 2022, at 11:00 a.m. ET to discuss the results. Investors can join via phone or through a live audio webcast available on the company's website. A replay of the call will be accessible until June 10, 2022. Quanex specializes in manufacturing energy-efficient building products.
Quanex Building Products Corporation (NYSE:NX) reported robust revenue growth for the first quarter of 2022, with net sales reaching $267.0 million, a 16% increase from the previous year. The growth was driven by increased volumes in the fenestration and cabinet components segments, despite inflationary pressures compressing margins. Net income rose to $11.2 million, with a diluted EPS of $0.34. The company expects revenue for FY22 to be between $1.13 billion and $1.15 billion, alongside $135 million to $140 million in Adjusted EBITDA. Liquidity remains strong at $289.2 million.
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