Quanex Q1 revenue down 2% to $261.9M; net income drops 83%; guides FY Adj. EBITDA $130-142M

Quanex Building Products CORP

2023-Q1 EPS reported $0.06 revenue$261,916,000

Net sales $261.9M (-1.9% YoY); net income $1.9M ($0.06 EPS) vs $11.2M ($0.34) YoY.
Adjusted diluted EPS $0.18 vs $0.34; adjusted EBITDA $20.5M (7.8% margin) vs $24.4M (9.1%).
NA Fenestration sales +4.3% (incl LMI); ex-LMI -7%; Cabinet Components -12.3%; EU Fenestration +3.9% ex-FX.
Cash from ops improved to $3.1M from ($21.7M); liquidity $263M; total debt $155.1M (leverage 0.8x).
FY2023 guidance: net sales $1.12B-$1.16B, Adj. EBITDA $130M-$142M; debt paydown and cost adjustments.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Quanex Building Products CORP reported three months ended January 31, 2023 results: revenue $261.9 million, net income $1.9 million, EPS $0.06. Guidance reaffirmed.

Period: three months ended January 31, 2023
Revenue: $261.9 million
Net income: $1.9 million
EPS: $0.06
Guidance: reaffirmed
Result: reported results

Exact text from the filing

we were still able to pay down some debt towards the end of the first quarter and our leverage remains low.” First Quarter 2023 Results Summary The Company reported net sales of $261.9 million during the three months ended January 31, 2023, which represents a decrease of 1.9% compared to $267.0 million for the same period of 2022. The decrease was mostly attributable

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Source: SEC EDGAR

accession 0001171843-23-001554

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