Quanex Building ProductsNX
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Q3 earnings and revenue beat expectations, driving shares up 22%
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Industrials
Quanex Building ProductsQuanex Building Products, a manufacturer of engineered components for window, door, and building-products markets, soared just over 22% on Friday after reporting better-than-expected third-quarter results. The stock closed at $22.93, up $4.17. The company posted non-GAAP EPS of $0.79, beating consensus by $0.13, while revenue of $501.8 million also exceeded expectations. Management noted a mixed housing environment, with weaker new-construction activity offset by resilient permitting, and said targeted price increases would provide fuller benefits in the fourth quarter. Quanex also reported $363.1 million in liquidity as of July 31 and a net-debt-to-LTM adjusted EBITDA ratio of 2.8x.
Quanex Building ProductsQ3 earnings and revenue beat expectations, driving shares up 22%