Quanex Building Products Announces First Quarter 2026 Results and Provides Full Year 2026 Guidance
05-Mar-2026 16:15:03 EST
Quanex Building Products Announces First Quarter 2026 Results and Provides Full Year 2026 Guidance
GlobeNewswire March 05, 2026
Net Sales Growth of ~2% Year-Over-Year Healthy Balance Sheet and Strong Liquidity Well Positioned to Capitalize on Pent-Up Demand
HOUSTON, March 05, 2026 (GLOBE NEWSWIRE) — Quanex Building Products Corporation (NYSE:NX) (“Quanex” or the “Company”) today announced its results for the three months ended January 31, 2026.
The Company reported the following selected financial results:
Three Months Ended January 31,
($ in millions, except per share data)
2026
2025
Net Sales
$409.1
$400.0
Gross Margin
$98.5
$92.3
Gross Margin %
24.1%
23.1%
Net Loss
($4.1)
($14.9)
Diluted EPS
($0.09)
($0.32)
Adjusted Net (Loss) Income
($0.3)
$9.0
Adjusted Diluted EPS
($0.01)
$0.19
Adjusted EBITDA
$27.4
$38.5
Adjusted EBITDA Margin %
6.7%
9.6%
Cash Used For Operating Activities
($20.2)
($12.5)
Free Cash Flow
($31.5)
($24.1)
(See Non-GAAP Terminology Definitions and Disclaimers section, Non-GAAP Financial Measure Disclosure table, Selected Segment Data table and reconciliation tables for additional information)
George Wilson, Chairman, President and Chief Executive Officer, stated, “Our results for the first quarter tracked our expectations given the current macroeconomic backdrop. The combination of inflationary pressures, high interest rates, tariff uncertainty, housing affordability issues, and geopolitical tensions continued to weaken consumer confidence around the world, ultimately impacting demand for the products we manufacture. However, we continue to focus on identifying operational efficiencies and commercial synergies that we believe will benefit us when consumer confidence improves and demand rebounds.
“Due to the seasonality of our business, coupled with the longer cash conversion cycle of the legacy Tyman business, we expect to be a net borrower during the first half of our fiscal year, which impacts our leverage ratio. Our balance sheet is healthy, and we will remain focused on prioritizing debt repayment as we generate cash. Looking ahead, we continue to be optimistic about our prospects for profitable growth and value creation.”
First Quarter 2026 Results Summary
Quanex reported net sales of $409.1 million during the three months ended January 1, 2026, which represents an increase of 2.3% compared to $400.0 million for the same period in 2025, mainly due to foreign exchange translation and the pass-through of tariffs. In its Hardware Solutions segment, Quanex reported an increase of 2.4% in net sales for the first quarter of 2026, mostly due to foreign exchange translation and price increases. In its Extruded Solutions segment, net sales were essentially flat for the first quarter of 2026 as lower volumes were offset by foreign exchange translation and price increases. For its Custom Solutions segment, the Company reported an increase of 4.8% in net sales for the first quarter of 2026, largely due to increased volume and improved pricing. (See Sales Analysis table for additional information)
On a consolidated basis, the decrease in adjusted earnings for the first quarter of 2026 compared to the first quarter of 2025 was mainly due to reduced operating leverage from lower volumes related to ongoing macroeconomic uncertainty coupled with low consumer confidence and higher, but temporary, operational costs related to Quanex's window and door hardware plant in Monterrey, Mexico.
Balance Sheet & Liquidity Update
As of January 31, 2026, the Company had total debt of $717.5 million and Quanex's leverage ratio of Net Debt to LTM Adjusted EBITDA was 2.8x. As of January 31, 2026, Quanex reported a LTM Net Loss of $240.0 million, mainly due to the non-cash goodwill impairment charge recorded in the third quarter of 2025, and LTM Adjusted EBITDA of $231.7 million (See Non-GAAP Terminology Definitions and Disclaimers section, Net Debt Reconciliation table and Last Twelve Months Adjusted EBITDA Reconciliation table for additional information)
The Company's liquidity was $331.6 million as of January 31, 2026, consisting of $62.3 million in cash on hand plus availability under its Senior Secured Revolving Credit Facility due 2029, less letters of credit outstanding.
Outlook
Mr. Wilson commented, “Our long-term view continues to be favorable as the underlying fundamentals for the residential housing market remain positive. We entered fiscal 2026 with a cautious outlook due to the ongoing macroeconomic challenges, but we continue to believe that demand for our products will improve as we expect consumer confidence to be restored over time. Based on conversations with our customers, recent demand trends, and the latest macro data, we are providing guidance for fiscal 2026. Overall, on a consolidated basis, we estimate we will generate net sales of $1.84 billion to $1.87 billion, which we expect will yield approximately $240 million to $245 million in Adjusted EBITDA* in fiscal 2026. As mentioned on our last earnings call, we anticipate the first half of 2026 to be more challenging than the first half of 2025, which implies an improved second half year-over-year. As macroeconomic uncertainty subsides and consumer confidence improves, we believe we are well positioned to capitalize on pent-up demand. In the meantime, we will stay focused on the things that we can control, with an emphasis on generating cash to pay down debt and opportunistically repurchasing our stock.”
*When Quanex provides expectations for Adjusted EBITDA on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and corresponding GAAP measures is generally not available without unreasonable effort. Certain items required for such a reconciliation are outside of the Company's control and/or cannot be reasonably predicted or estimated, such as the provision for income taxes related to net income. As a result, Quanex is unable to provide forward-looking net income guidance. Investors are cautioned that the Company's Adjusted EBITDA excludes significant items, including interest expense, income taxes, depreciation and amortization, and the other adjustments described below, and that net income may differ materially from Adjusted EBITDA.
Conference Call and Webcast Information
The Company has also scheduled a conference call for Friday, March 6, 2026, at 11:00 a.m. ET (10:00 a.m. CT) to discuss the release. A link to the live audio webcast will be available on Quanex's website at http://www.quanex.com in the Investors section under Presentations & Events.
Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, it is recommended that participants dial into the conference call ten minutes ahead of the scheduled start time. A replay will be available for a limited time on the Company's website at http://www.quanex.com in the Investors section under Presentations & Events.
About Quanex
Quanex is a global manufacturer with core capabilities and broad applications across various end markets. The Company currently collaborates and partners with leading OEMs to provide innovative solutions in the window, door, solar, refrigeration, custom mixing, building access and cabinetry markets. Looking ahead, Quanex plans to leverage its material science expertise and process engineering to expand into adjacent markets.
Non-GAAP Terminology Definitions and Disclaimers
Adjusted Net Income (defined as net income further adjusted to exclude amortization of step-up for purchase price adjustments on inventory, asset impairment charges, transaction, advisory fees and reorganization costs, restructuring charges related to severance and disposal of software, amortization expense related to intangible assets, pension settlement refund and other net adjustments related to foreign currency transaction gain/loss and effective tax rates reflecting impacts of adjustments on a with and without basis) and Adjusted EPS are non-GAAP financial measures that Quanex believes provide a consistent basis for comparison between periods and more accurately reflects operational performance, as they are not influenced by certain income or expense items not affecting ongoing operations. EBITDA (defined as net income or loss before interest, taxes, depreciation and amortization and other, net), Adjusted EBITDA and LTM Adjusted EBITDA (defined as EBITDA further adjusted to exclude purchase price accounting inventory step-ups, transaction costs, certain severance charges, gain/loss on the sale of certain fixed assets, restructuring charges and asset impairment charges) are non-GAAP financial measures that the Company uses to measure operational performance and assist with financial decision-making. Net Debt is defined as total debt (outstanding balance on the revolving credit facility plus financial lease obligations) less cash and cash equivalents. The leverage ratio of Net Debt to LTM Adjusted EBITDA is a financial measure that the Company believes is useful to investors and financial analysts in evaluating Quanex's leverage. In addition, with certain limited adjustments, this leverage ratio is the basis for a key covenant in the Company's credit agreement.
Free Cash Flow is a non-GAAP measure calculated using cash provided by operating activities less capital expenditures. Quanex uses the Free Cash Flow metric to measure operational and cash management performance and assist with financial decision-making. Free Cash Flow is measured before application of certain contractual commitments (including capital lease obligations), and accordingly is not a true measure of the Company's residual cash flow available for discretionary expenditures. Quanex believes Free Cash Flow is useful to investors in understanding and evaluating the Company's financial and cash management performance.
Quanex believes that the presented non-GAAP measures provide a consistent basis for comparison between periods and will assist investors in understanding the Company's financial performance when comparing results to other investment opportunities. The presented non-GAAP measures may not be the same as those used by other companies. Quanex does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with U.S. GAAP.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that use the words “estimated,” “expect,” “could,” “should,” “believe,” “will,” “might,” or similar words reflecting future expectations or beliefs are forward-looking statements. The forward-looking statements include, but are not limited to, the following: the Company's ability to resolve an isolated operational issue at its window and door hardware plant located in Monterrey, Mexico, timing estimates or any other expectations related to the acquisition of Tyman, the impact of tariffs, trade restrictions and changes in trade policy on the Company's raw material costs and supply chain, the impact of elevated interest rates on consumer demand for the Company's products, Quanex's future operating results, future financial condition, future uses of cash and other expenditures, expenses and tax rates, expectations relating to the Company's industry, and Quanex's future growth, including any guidance discussed in this press release. The statements and guidance set forth in this release are based on current expectations. Actual results or events may differ materially from this release. Therefore, you should not rely on any of these forward-looking statements. For a complete discussion of factors that may affect the Company's future performance, please refer to Quanex's Annual Report on Form 10-K for the fiscal year ended October 31, 2025, and the Company's Quarterly Reports on Form 10-Q under the sections entitled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors”. Any forward-looking statements in this press release are made as of the date hereof, and Quanex undertakes no obligation to update or revise any forward-looking statements, whether written or oral, to reflect new information, developments or events.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) (Unaudited)
Three Months Ended January 31,
2026
2025
Net sales
$
409,089
$
400,044
Cost of sales
310,562
307,728
Selling, general and administrative
71,426
66,650
Restructuring charges
–
7,904
Depreciation and amortization
24,249
24,740
Operating income (loss)
2,852
(6,978
)
Interest expense
(12,367
)
(14,186
)
Other, net
5,617
1,229
Loss before income taxes
(3,898
)
(19,935
)
Income tax (expense) benefit
(173
)
5,050
Net loss
$
(4,071
)
$
(14,885
)
Loss per common share, basic
$
(0.09
)
$
(0.32
)
Loss per common share, diluted
$
(0.09
)
$
(0.32
)
Weighted average common shares outstanding:
Basic
45,456
47,015
Diluted
45,456
47,015
Cash dividends per share
$
0.08
$
0.08
QUANEX BUILDING PRODUCTS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)
January 31, 2026
October 31, 2025
ASSETS
Current assets:
Cash and cash equivalents
$
62,311
$
76,018
Restricted Cash
2,332
2,100
Accounts receivable, net
189,243
205,384
Inventories
270,597
254,122
Prepaid assets
39,845
32,387
Other current assets
4,345
3,764
Total current assets
568,673
573,775
Property, plant and equipment, net
401,701
411,591
Operating lease right-of-use assets
179,221
154,866
Deferred tax assets
2,959
2,706
Goodwill
275,468
271,346
Intangible assets, net
544,323
549,137
Other assets
5,818
4,812
Total assets
$
1,978,163
$
1,968,233
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
116,095
$
131,307
Accrued liabilities
77,325
95,155
Income taxes payable
7,101
12,076
Current maturities of long-term debt
28,566
27,561
Current operating lease liabilities
16,749
15,446
Total current liabilities
245,836
281,545
Long-term debt
678,636
665,268
Noncurrent operating lease liabilities
168,668
145,459
Deferred income taxes
139,804
135,993
Other liabilities
14,865
13,789
Total liabilities
1,247,809
1,242,054
Stockholders' equity:
Common stock
512
512
Additional paid-in-capital
695,426
700,029
Retained earnings
156,963
164,710
Accumulated other comprehensive loss
(24,329
)
(35,439
)
Treasury stock at cost
(98,218
)
(103,633
)
Total stockholders' equity
730,354
726,179
Total liabilities and stockholders' equity
$
1,978,163
$
1,968,233
QUANEX BUILDING PRODUCTS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (In thousands) (Unaudited)
Three Months Ended January 31,
2026
2025
Operating activities:
Net loss
$
(4,071
)
$
(14,885
)
Adjustments to reconcile net loss to cash used for operating activities:
Depreciation and amortization
24,249
24,740
Stock-based compensation
1,166
902
Deferred income tax
1,808
2,851
Other, net
1,300
6,173
Changes in assets and liabilities:
Decrease in accounts receivable
18,743
30,330
Increase in inventory
(13,669
)
(8,602
)
Increase in other current assets
(7,043
)
(8,985
)
Decrease in accounts payable
(13,982
)
(16,548
)
Decrease in accrued liabilities
(19,022
)
(22,558
)
Decrease in current income taxes payable
(5,203
)
(5,087
)
Other, net
(4,484
)
(841
)
Cash used for operating activities
(20,208
)
(12,510
)
Investing activities:
Capital expenditures
(11,294
)
(11,624
)
Proceeds from disposition of capital assets
55
169
Cash used for investing activities
(11,239
)
(11,455
)
Financing activities:
Borrowings under credit facilities
57,000
45,000
Repayments of credit facility borrowings
(36,250
)
(56,250
)
Repayments of other long-term debt
(838
)
(2,026
)
Common stock dividends paid
(3,638
)
(3,812
)
Issuance of common stock
–
214
Payroll tax paid to settle shares forfeited upon vesting of stock
(354
)
(1,400
)
Purchase of treasury stock
–
(3,698
)
Cash provided by (used for) financing activities
15,920
(21,972
)
Effect of exchange rate changes on cash and cash equivalents
2,052
(1,590
)
Decrease in cash, cash equivalents and restricted cash
(13,475
)
(47,527
)
Cash, cash equivalents and restricted cash at beginning of period
78,118
102,995
Cash, cash equivalents and restricted cash at end of period
$
64,643
$
55,468
QUANEX BUILDING PRODUCTS CORPORATION FREE CASH FLOW AND NET DEBT RECONCILIATION (In thousands) (Unaudited)
The following table reconciles the Company's calculation of Free Cash Flow, a non-GAAP measure, to its most directly comparable GAAP measure. The Company defines Free Cash Flow as cash provided by operating activities less capital expenditures.
Three Months Ended January 31,
2026
2025
Cash used for operating activities
(20,208
)
(12,510
)
Capital expenditures
(11,294
)
(11,624
)
Free Cash Flow
(31,502
)
(24,134
)
The following table reconciles the Company's Net Debt which is defined as total debt principal of the Company plus finance lease obligations minus cash.
As of January 31,
2026
2025
Term loan facility
$
462,500
$
487,500
Revolving credit facility
199,500
217,500
Finance lease obligations (1)
55,505
59,306
Total debt (2)
717,505
764,306
Less: Cash and cash equivalents
62,311
49,982
Net Debt
655,194
714,324
(1) Includes $49.3 million and $55.1 million in real estate lease liabilities considered finance leases under U.S. GAAP as of January 31, 2026 and 2025, respectively.
(2) Excludes outstanding letters of credit.
QUANEX BUILDING PRODUCTS CORPORATION NON-GAAP FINANCIAL MEASURE DISCLOSURE LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION (In thousands, except per share data) (Unaudited)
Reconciliation of Last Twelve Months Adjusted EBITDA
Three Months Ended January 31, 2026
Three Months Ended October 31, 2025
Three Months Ended July 31, 2025
Three Months Ended April 30, 2025
Total
Reconciliation
Reconciliation
Reconciliation
Reconciliation
Reconciliation
Net (loss) income as reported
$
(4,071
)
$
19,571
$
(276,007
)
$
20,515
$
(239,992
)
Income tax (benefit) expense
173
15,147
(8,191
)
6,307
13,436
Other, net
(5,617
)
(5,246
)
(855
)
159
(11,559
)
Interest expense
12,367
13,468
14,218
13,940
53,993
Depreciation and amortization
24,249
25,630
33,882
19,192
102,953
Asset impairment charges
–
–
302,284
–
302,284
EBITDA
27,101
68,570
65,331
60,113
221,115
Cost of sales (1)
407
308
148
976
1,839
Selling, general and administrative (1),(2)
(126
)
2,056
3,449
1,110
6,489
Restructuring (credit) charges (3)
–
(16
)
1,367
936
2,287
Adjusted EBITDA
$
27,382
$
70,918
$
70,295
$
63,135
$
231,730
(1) Expense related to plant closure/relocation.
(2) Transaction, advisory fees, reorganization costs and product recall expenses.
(3) Restructuring (credit) charges related to severance.
QUANEX BUILDING PRODUCTS CORPORATION NON-GAAP FINANCIAL MEASURE DISCLOSURE (In thousands, except per share data) (Unaudited)
Reconciliation of Adjusted Net Income and Adjusted EPS
Three Months Ended January 31, 2026
Three Months Ended January 31, 2025
Net Income
Diluted EPS
Net Income
Diluted EPS
Net loss as reported
$
(4,071
)
$
(0.09
)
$
(14,885
)
$
(0.32
)
Net loss reconciling items from below
3,801
$
0.08
23,847
$
0.51
Adjusted net income and adjusted EPS
$
(270
)
$
(0.01
)
$
8,962
$
0.19
Reconciliation of Adjusted EBITDA
Three Months Ended January 31, 2026
Three Months Ended January 31, 2025
Reconciliation
Reconciliation
Net loss as reported
$
(4,071
)
$
(14,885
)
Income tax benefit
173
(5,050
)
Other, net
(5,617
)
(1,229
)
Interest expense
12,367
14,186
Depreciation and amortization
24,249
24,740
EBITDA
27,101
17,762
EBITDA reconciling items from below
281
20,780
Adjusted EBITDA
$
27,382
$
38,542
Reconciling Items
Three Months Ended January 31, 2026
Three Months Ended January 31, 2025
Income Statement
Reconciling Items
Income Statement
Reconciling Items
Net sales
$
409,089
$
–
$
400,044
$
–
Cost of sales
310,562
(407
)
(1)
307,728
(9,007
)
(2)
Selling, general and administrative
71,426
126
(1),(3)
66,650
(3,869
)
(1),(3)
Restructuring charges
–
–
7,904
(7,904
)
(4)
EBITDA
27,101
281
17,762
20,780
Depreciation and amortization
24,249
(9,757
)
(5)
24,740
(10,650
)
(5)
Operating income (loss)
2,852
10,038
(6,978
)
31,430
Interest expense
(12,367
)
–
(14,186
)
–
Other, net
5,617
(5,072
)
(6)
1,229
(172
)
(6)
Loss before income taxes
(3,898
)
4,966
(19,935
)
31,258
Income tax benefit
(173
)
(1,165
)
(7)
5,050
(7,411
)
(7)
Net loss
$
(4,071
)
$
3,801
$
(14,885
)
$
23,847
Diluted loss per share
$
(0.09
)
$
(0.32
)
(1) Expense related to plant closure/relocation.
(2) Amortization of step-up for purchase price adjustments on inventory.
(3) Transaction, advisory fees, reorganization costs and product recall expenses.
(4) Restructuring charges related to severance and disposal of software.
(5) Amortization expense related to intangible assets.
(6) Foreign currency transaction gains.
(7) Tax impact of net income reconciling items.
QUANEX BUILDING PRODUCTS CORPORATION SELECTED SEGMENT DATA (In thousands) (Unaudited)
This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments.
Hardware Solutions
Extruded Solutions
Custom Solutions
Unallocated Corp & Other
Total
Three months ended January 31, 2026
Net sales
$
189,112
$
139,800
$
89,142
$
(8,965
)
$
409,089
Cost of sales
150,724
97,709
71,424
(9,295
)
310,562
Gross Margin
38,388
42,091
17,718
330
98,527
Gross Margin %
20.3
%
30.1
%
19.9
%
24.1
%
Selling, general and administrative (1)
34,180
21,141
13,150
2,955
71,426
Depreciation and amortization
11,547
7,339
5,222
141
24,249
Operating (loss) income
(7,339
)
13,611
(654
)
(2,766
)
2,852
Depreciation and amortization
11,547
7,339
5,222
141
24,249
EBITDA
4,208
20,950
4,568
(2,625
)
27,101
Expense related to plant relocation (Cost of sales)
407
–
–
–
407
Credit related to plant relocation (SG&A)
(141
)
–
–
–
(141
)
Transaction, advisory fees, reorganization costs, and product recall expenses
70
–
–
(55
)
15
Adjusted EBITDA
$
4,544
$
20,950
$
4,568
$
(2,680
)
$
27,382
Adjusted EBITDA Margin %
2.4
%
15.0
%
5.1
%
6.7
%
Three months ended January 31, 2025
Net sales
$
184,740
$
139,630
$
85,038
$
(9,364
)
$
400,044
Cost of sales
150,785
97,680
68,298
(9,035
)
307,728
Gross Margin
33,955
41,950
16,740
(329
)
92,316
Gross Margin %
18.4
%
30.0
%
19.7
%
23.1
%
Selling, general and administrative (1)
33,357
18,508
11,598
3,187
66,650
Restructuring charges
6,119
–
–
1,785
7,904
Depreciation and amortization
11,470
7,640
5,540
90
24,740
Operating (loss) income
(16,991
)
15,802
(398
)
(5,391
)
(6,978
)
Depreciation and amortization
11,470
7,640
5,540
90
24,740
EBITDA
(5,521
)
23,442
5,142
(5,301
)
17,762
Transaction, advisory fees, reorganization costs, and product recall expenses
90
158
–
3,621
3,869
Amortization of step-up for purchase price adjustments on inventory
7,509
352
1,146
–
9,007
Restructuring charges
6,119
–
–
1,785
7,904
Adjusted EBITDA
$
8,197
$
23,952
$
6,288
$
105
$
38,542
Adjusted EBITDA Margin %
4.4
%
17.2
%
7.4
%
9.6
%
(1) Includes stock-based compensation expense of $3.0 million and $1.2 million for the three months ended January 31, 2026 and January 31, 2025, respectively.
QUANEX BUILDING PRODUCTS CORPORATION SELECTED SEGMENT DATA RECONCILIATION (In thousands) (Unaudited)
This table reconciles our segment presentation, as previously reported in Exhibit 99.1 to our Current Report Form 8-K dated March 10, 2025 for the three months ended January 31, 2025, to the current presentation.
NA Fenestration
EU Fenestration
NA Cabinet Components
Tyman
Unallocated Corp & Other
Total
Three months ended January 31, 2025
Net sales
$
134,333
$
48,471
$
43,810
$
175,676
$
(2,246
)
$
400,044
Cost of sales
106,567
30,638
39,415
132,796
(1,688
)
307,728
Gross Margin
27,766
17,833
4,395
42,880
(558
)
92,316
Gross Margin %
20.7
%
36.8
%
10.0
%
24.4
%
23.1
%
Selling, general and administrative
16,133
7,920
5,268
34,378
2,951
66,650
Restructuring charges
–
–
–
7,904
–
7,904
Depreciation and amortization
4,779
2,610
3,009
14,263
79
24,740
Operating income (loss)
6,854
7,303
(3,882
)
(13,665
)
(3,588
)
(6,978
)
Depreciation and amortization
4,779
2,610
3,009
14,263
79
24,740
EBITDA
11,633
9,913
(873
)
598
(3,509
)
17,762
Amortization of step-up for purchase price adjustments on inventory
–
–
–
9,007
–
9,007
Transaction and advisory fees
–
–
–
1,469
2,400
3,869
Restructuring charges
7,904
–
7,904
Adjusted EBITDA
$
11,633
$
9,913
$
(873
)
$
18,978
$
(1,109
)
$
38,542
Adjusted EBITDA Margin %
8.7
%
20.5
%
-2.0
%
10.8
%
9.6
%
Hardware Solutions(1)
Extruded Solutions(2)
Custom Solutions(3)
Tyman
Unallocated Corp & Other
Total
Three months ended January 31, 2025
Net sales
$
184,740
$
139,630
$
85,038
$
–
$
(9,364
)
$
400,044
Cost of sales
150,785
97,680
68,298
–
(9,035
)
307,728
Gross Margin
33,955
41,950
16,740
–
(329
)
92,316
Gross Margin %
18.4
%
30.0
%
19.7
%
23.1
%
Selling, general and administrative
33,357
18,508
11,598
3,187
66,650
Restructuring charges
6,119
–
–
–
1,785
7,904
Depreciation and amortization
11,470
7,640
5,540
–
90
24,740
Operating (loss) income
(16,991
)
15,802
(398
)
–
(5,391
)
(6,978
)
Depreciation and amortization
11,470
7,640
5,540
–
90
24,740
EBITDA
(5,521
)
23,442
5,142
–
(5,301
)
17,762
Reorganization costs (SG&A)
2,400
2,400
Amortization of step-up for purchase price adjustments on inventory
7,509
352
1,146
–
–
9,007
Transaction and advisory fees
90
158
–
–
1,221
1,469
Restructuring charges
6,119
1,785
7,904
Adjusted EBITDA
$
8,197
$
23,952
$
6,288
$
–
$
105
$
38,542
Adjusted EBITDA Margin %
4.4
%
17.2
%
7.4
%
9.6
%
(1) Contains a portion of the previously reported NA Fenestration segment.
(2) Contains a portion of the NA Fenestration segment and the EU Fenestration segment.
(3) Contains a portion of the NA Fenestration segment and the NA Cabinet Components segment.
QUANEX BUILDING PRODUCTS CORPORATION SALES ANALYSIS (In thousands) (Unaudited)
Three Months Ended January 31,
2026
2025
Hardware Solutions:(1)
Window and door hardware
$
124,701
$
122,353
Screens
62,599
60,554
Other
1,812
1,833
$
189,112
$
184,740
Extruded Solutions:(2)
Window profiles
$
58,355
$
59,845
Seals and gaskets
17,634
18,041
Spacers
47,602
42,861
Solar
4,605
5,523
Flashing Tape
1,518
2,114
Window and door hardware
7,512
9,458
Other
2,574
1,788
$
139,800
$
139,630
Custom Solutions:(3)
Wood solutions
$
46,654
$
43,810
Access solutions
23,045
22,908
Mixing solutions
19,443
18,320
$
89,142
$
85,038
Unallocated Corporate & Other:
Eliminations
$
(8,965
)
$
(9,364
)
$
(8,965
)
$
(9,364
)
Net Sales
$
409,089
$
400,044
(1) Reflects an increase of $4.3 million in revenue associated with foreign currency exchange rate impacts for the three months ended January 31, 2026.
(2) Reflects an increase of $3.3 million in revenue associated with foreign currency exchange rate impacts for the three months ended January 31, 2026.
(3) Reflects an increase of $0.2 million in revenue associated with foreign currency exchange rate impacts for the three months ended January 31, 2026.
