QUANEX BUILDING PRODUCTS Reports Earnings Results for FY2023 Q3
September 6, 2023
🌥️Earnings Overview
On August 31 2023, QUANEX BUILDING PRODUCTS ($NYSE:NX) reported their earnings results for the third quarter of fiscal year 2023 ending July 31. The total revenue for the quarter was USD 299.6 million, a 7.5% decrease when compared to the same period last year. However, net income was up 22.3%, amounting to USD 31.7 million.
Share Price
The company stock opened at $27.0 and closed at the same price, a 0.2% decrease from its last closing price. Analysts are citing the decreased demand in the housing market as a primary factor for this lower than expected performance. The company also revealed that it was able to maintain its product delivery rate despite the uncertainty in the market. Moving forward, QUANEX BUILDING PRODUCTS has plans to focus on cost-efficiency measures, such as expanding its production capacity and streamlining its supply chain, in order to remain competitive in this tough market environment.
It also plans to launch new product lines that cater to different needs of its customers, while continuing to focus on quality and innovation. With these strategies in place, QUANEX BUILDING PRODUCTS is confident that they will be able to weather the storm and be successful in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for NX. More…
| Total Revenues | Net Income | Net Margin |
| 1.14k | 79.79 | 7.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for NX. More…
| Operations | Investing | Financing |
| 150.67 | -127.18 | -1.25 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for NX. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 847.81 | 321.85 | 15.96 |
Key Ratios Snapshot
Some of the financial key ratios for NX are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.0% | 26.8% | 8.8% |
| FCF Margin | ROE | ROA |
| 10.0% | 12.3% | 7.4% |
Analysis
At GoodWhale, we have conducted an analysis of QUANEX BUILDING PRODUCTS’ wellbeing. We have concluded that it is a medium risk investment in terms of financial and business aspects, based on our Risk Rating. Additionally, we have detected two risk warnings in their income sheet and balance sheet. If you would like to know more about these potential risks, be sure to register with us at GoodWhale. Our team of experts is here to help you make the best investment decisions possible. More…
Peers
The company competes with Nihon Flush Co Ltd, PGT Innovations Inc, and Better Life Group in the global market for energy-efficient building products. Quanex Building Products Corp has a strong market position in the United States and Europe, and is expanding its presence in Asia.
– Nihon Flush Co Ltd ($TSE:7820)
Nihon Flush Co Ltd is a Japanese company that manufactures and sells plumbing fixtures and other related products. The company has a market capitalization of 23.73 billion as of 2022 and a return on equity of 10.59%. Nihon Flush Co Ltd is a publicly traded company listed on the Tokyo Stock Exchange.
– PGT Innovations Inc ($NYSE:PGTI)
PGT Innovations, Inc. engages in the designing, manufacturing, and distribution of impact-resistant windows and doors. It operates through the following segments: Residential and Commercial. The Residential segment offers aluminum and vinyl windows and doors for new construction, remodeling, and replacement applications. The Commercial segment provides aluminum windows and doors for institutional, office, healthcare, hospitality, government, and other commercial applications. The company was founded in 1980 and is headquartered in North Venice, FL.
– Better Life Group ($TWSE:1805)
The company has a market cap of 1.1 billion as of 2022 and a return on equity of -2.76%. The company is engaged in the business of providing life insurance and annuity products. The company has a strong presence in the US life insurance market and is one of the leading providers of life insurance and annuity products in the country.
Summary
Quanex Building Products reported its earnings for FY2023 Q3, with total revenue of USD 299.6 million and net income of USD 31.7 million. Year-over-year, revenue decreased 7.5% while net income grew 22.3%. Investors should take this performance into account when considering their investments in Quanex.
From the revenue and income figures, Quanex appears to have a healthy financial position and may be a promising investment opportunity. Investors may want to examine the company’s balance sheet, cash flow statement, and other financial metrics to determine if Quanex is a good fit for their portfolio.
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