Quanex Q1 revenue down 8.7% to $239.2M; guides FY2024 Adj. EBITDA $145-150M

Quanex Building Products CORP

2024-Q1 EPS reported $0.19 revenue$239,155,000

Diluted EPS $0.19 vs $0.06; adjusted diluted EPS $0.18 vs $0.18 year-over-year.
Gross margin expanded to 21.5% from 19.8% on lower raw material costs.
North American Cabinet Components segment sales fell 21.1%; Fenestration down 3.3%.
Repaid $5M in bank debt; total debt $65.2M; net leverage unchanged at 0.1x.
FY2024 revenue guidance ~$1.1B; adjusted EBITDA $145M-$150M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Quanex Building Products CORP reported fiscal 2024 results: revenue $1.1 billion. Guidance initiated.

Period: fiscal 2024
Revenue: $1.1 billion
Guidance: initiated
Result: guidance update

Exact text from the filing

Based on conversations with our customers, recent demand trends, and the latest macro data, we are now comfortable providing guidance for fiscal 2024. Overall, on a consolidated basis, we estimate we will generate net sales of approximately $1.1 billion, which we expect will yield approximately $145 million to $150 million in Adjusted EBITDA* in fiscal 2024.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Quanex Building Products CORP reported three months ended January 31, 2024 results: revenue $239.2 million, net income $6.2 million, EPS $0.19.

Period: three months ended January 31, 2024
Revenue: $239.2 million
Net income: $6.2 million
EPS: $0.19
Result: reported results

Exact text from the filing

and we continue to be positioned well to explore and evaluate both organic and inorganic growth opportunities.” First Quarter 2024 Results Summary Quanex reported net sales of $239.2 million during the three months ended January 31, 2024, which represents a decrease of 8.7% compared to $261.9 million for the same period of 2023. The decrease was largely attributable

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Source: SEC EDGAR

accession 0001171843-24-001230

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