Financial News
Quanex Earnings: What To Look For From NX
Building products company Quanex (NYSE:NX) will be reporting results tomorrow after market hours. Here’s what investors should know.
Quanex beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $280.3 million, down 6.4% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ Cabinet Components revenue estimates but full-year EBITDA guidance slightly missing analysts’ expectations.
Is Quanex a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Quanex’s revenue to grow 66.5% year on year to $491.9 million, a reversal from the 3.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.56 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Quanex has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.7% on average.
Looking at Quanex’s peers in the home construction materials segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Trex’s revenues decreased 23.1% year on year, beating analysts’ expectations by 3.7%, and Hayward reported revenues up 3.3%, topping estimates by 2.1%. Trex traded up 6.3% following the results while Hayward was also up 12.3%.
Read our full analysis of Trex’s results here and Hayward’s results here.
Investors in the home construction materials segment have had steady hands going into earnings, with share prices flat over the last month. Quanex is down 4.7% during the same time and is heading into earnings with an average analyst price target of $36.67 (compared to the current share price of $29.20).
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