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Quanex Building Products (NX) Q3 FY2024 earnings: revenue $280 million, down 6.4% on the year

Quanex Building Products Corp. (NX) reported revenue of $280 million for Q3 FY2024, the quarter ended 31 July 2024, down 6.4% on the same quarter a year earlier. Net income was $25 million, down 20.0% on the year, and diluted earnings per share $0.77. The figures are the company's own, from the 10-Q it filed with the SEC on 6 September 2024.

Revenue$280 milliondown 6.4%
Net income$25 milliondown 20.0%
Diluted EPS$0.77
QuarterQ3 FY2024ended 31 July 2024

The quarter, against the one before and a year earlier

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Revenue280266n/an/a
Cost of revenue209200n/an/a
Gross profit70.966.2n/an/a
Gross margin25.3%24.9%n/a
Selling, general and administrative36.534.7n/an/a
Operating income23.420.6n/an/a
Operating margin8.4%7.8%n/a
Interest expense0.90.9n/an/a
Income tax6.74.3n/an/a
Net income25.415.4n/an/a
Net margin9.0%5.8%n/a
Diluted EPS$0.77$0.46n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Operating cash flow46.433.1n/an/a
Capital expenditure6.37.6n/an/a
Free cash flow40.125.5n/an/a
Free cash flow margin14.3%9.6%n/a
Cash from investing-6.2-7.5n/an/a
Cash from financing-3.6-12.8n/an/a
Depreciation and amortisation11.010.9n/an/a
Share-based compensation1.31.5n/an/a
Buybacks0.00.0n/an/a
Dividends paid2.62.6n/an/a
Dividend per share$0.08$0.08n/an/a
Diluted shares, weighted33m33mn/an/a
Shares outstanding at period end33m33mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Shareholders' equity594566n/an/a
Debt51.451.5n/an/a
Operating lease liabilities59.160.0n/an/a
Finance lease liabilities52.052.3n/an/a
Other liabilities116107n/an/a
Total liabilities and equity872837n/an/a
Fixed assets252253n/an/a
Goodwill186184n/an/a
Intangible assets66.668.7n/an/a
Cash and equivalents94.056.1n/an/a
Receivables87.687.1n/an/a
Inventory99.1101n/an/a
Other assets87.186.5n/an/a
Total assets872837n/an/a

Questions

What was Quanex Building Products' revenue in Q3 FY2024?

Quanex Building Products (NX) reported revenue of $280 million for Q3 FY2024, the quarter ended 31 July 2024, down 6.4% on the same quarter a year earlier.

How much did Quanex Building Products earn in Q3 FY2024?

Net income for Q3 FY2024 was $25 million, down 20.0% on the year, and diluted earnings per share $0.77.

When did Quanex Building Products report Q3 FY2024 results?

Quanex Building Products filed its 10-Q for the quarter ended 31 July 2024 with the SEC on 6 September 2024.

Quarterly results, the last 12 quarters

Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue295239266280492400452495490409462502
Cost of revenue215188200209375308321357352311345360
Gross profit80.051.466.270.911792.313113813898.5118141
Gross margin27%22%25%25%24%23%29%28%28%24%25%28%
SG&A29.332.434.736.586.966.770.371.369.071.474.470.8
Operating income39.57.920.623.42.8-7.040.9-27142.92.918.746.5
Operating margin13%3%8%8%1%-2%9%-55%9%1%4%9%
Interest expense1.61.10.90.917.714.213.914.213.512.412.012.0
Net income27.46.215.425.4-13.9-14.920.5-27619.6-4.13.426.5
Net margin9%3%6%9%-3%-4%5%-56%4%-1%1%5%
Diluted EPS$0.83$0.19$0.46$0.77n/a-$0.32$0.44-$6.04$0.43-$0.09$0.07$0.58
Operating cash flow44.53.933.146.45.5-12.528.560.788.3-20.218.958.6
Capital expenditure14.99.67.66.313.711.614.914.521.611.311.010.7
Free cash flow29.6-5.725.540.1-8.2-24.113.646.266.6-31.57.947.8
Buybacksn/a0.00.00.00.03.723.52.13.10.00.01.7
Dividends paid2.72.62.62.64.03.83.73.73.73.63.63.6
Shares outstanding33m33m33m33m47m47m46m46m46m46m46m46m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 July 2024, filed 6 September 2024, accession 0001423221-24-000012: the filing on EDGAR. All of Quanex Building Products Corp.'s filings: EDGAR company page.

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