NYSE$NX
Quanex Building Products Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported a decrease in net sales due to softer demand, customer inventory rebalancing initiatives and foreign exchange translation impact.
Quanex Building Products reported first quarter 2023 results with net sales of $261.9 million, a decrease of 1.9% compared to the same period of 2022. The company's results were impacted by softer demand, customer inventory rebalancing initiatives, higher stock-based compensation expense, one-time transaction and advisory fees, increased interest expense, and foreign exchange translation.
- Balance sheet and liquidity remain strong.
- Revenue growth in NA and EU Fenestration segments, excluding FX impact.
- Integration of LMI Custom Mixing assets on track.
- Cautiously optimistic on second half of 2023.
Headline financials
Revenue & EPS history
Quanex · Revenue · Quarterly
$262M
Forward guidance
Quanex estimates net sales of $1.12 billion to $1.16 billion, which is expected to yield approximately $130 million to $142 million in Adjusted EBITDA in fiscal 2023.
Tailwinds
- Long-term view on residential housing market remains positive.
- Belief that they have returned to a more normalized seasonality pattern.
- Cautiously optimistic that demand will improve in the second half of our fiscal year.
- Proactively working to adjust their cost structure to protect margins.
- Capital allocation priorities are generating cash, paying down debt, evaluating growth opportunities and opportunistically buying back our stock.
Headwinds
- Near-term outlook for their business remains somewhat cautious.
- Market volume declines
- Customer inventory rebalancing initiatives
- Foreign exchange translation
- Inflationary pressures still exist in many areas.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.4%
Avg return
Earnings day
+0.8%
Avg return
5 days after
-0.7%
Avg return
30 days after
56%
37 / 66 earnings
Positive
+23.8%
Q2 2023
Best reaction
-17.7%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -7.9% | -5.9% | -7.1% | |
| Q4 2025 | +6.5% | +5.2% | +16.2% | |
| Q3 2025 | -12.8% | -27.3% | -29.6% | |
| Q2 2025 | +0.0% | -5.6% | -3.1% | |
| Q1 2025 | -9.2% | -3.4% | -14.6% | |
| Q4 2024 | -3.8% | -9.9% | -25.7% | |
| Q3 2024 | +19.9% | +3.6% | +8.0% | |
| Q2 2024 | +2.8% | -4.1% | -13.4% | |
| Q1 2024 | -2.3% | +0.6% | +10.4% | |
| Q4 2023 | -7.0% | -6.1% | -7.6% | |
| Q3 2023 | +9.0% | +5.3% | +4.2% | |
| Q2 2023 | +23.8% | +24.3% | +27.8% | |
| Q1 2023 | -17.7% | -20.6% | -20.7% | |
| Q4 2022 | -2.1% | -2.6% | +1.1% | |
| Q3 2022 | -4.5% | -5.2% | -18.6% | |
| Q2 2022 | +13.1% | +20.8% | +15.4% | |
| Q1 2022 | +0.9% | -2.1% | -6.5% | |
| Q4 2021 | +3.4% | +4.0% | +6.7% | |
| Q3 2021 | -6.5% | -6.2% | -7.0% | |
| Q2 2021 | +3.5% | +5.3% | -7.5% | |
| Q1 2021 | +1.5% | +8.8% | +9.8% | |
| Q4 2020 | +1.1% | +2.3% | +15.6% | |
| Q3 2020 | +6.4% | +6.6% | +11.1% | |
| Q2 2020 | +5.4% | +2.3% | -4.3% | |
| Q1 2020 | -0.2% | -12.2% | -47.0% | |
| Q4 2019 | +2.9% | +1.5% | -10.0% | |
| Q3 2019 | +6.7% | +7.3% | +9.4% | |
| Q2 2019 | +6.4% | +5.2% | +17.4% | |
| Q1 2019 | -5.2% | -14.6% | -5.6% | |
| Q4 2018 | -12.7% | -5.7% | +9.3% | |
| Q3 2018 | +19.3% | +18.1% | +3.9% | |
| Q2 2018 | +14.3% | +12.8% | +7.7% | |
| Q1 2018 | +8.8% | +5.3% | +5.6% | |
| Q4 2017 | +6.7% | +15.1% | +7.2% | |
| Q3 2017 | -0.3% | -0.8% | +17.6% | |
| Q2 2017 | +5.9% | +8.7% | +7.7% | |
| Q1 2017 | +1.0% | +1.8% | +1.3% | |
| Q4 2016 | +2.0% | +5.7% | +2.2% | |
| Q3 2016 | -6.1% | -9.2% | -9.1% | |
| Q2 2016 | +1.7% | +0.9% | -4.4% | |
| Q1 2016 | -9.6% | — | — | |
| Q4 2015 | +9.1% | — | — | |
| Q3 2015 | +11.7% | — | — | |
| Q2 2015 | +8.6% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | -9.2% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | +3.9% | — | — | |
| Q1 2014 | -0.3% | — | — | |
| Q4 2013 | +6.8% | — | — | |
| Q3 2013 | +7.4% | — | — | |
| Q2 2013 | -5.5% | — | — | |
| Q1 2013 | -10.6% | — | — | |
| Q1 2010 | +6.0% | — | — | |
| Q4 2012 | -8.6% | — | — | |
| Q3 2012 | -2.7% | — | — | |
| Q2 2012 | -1.6% | — | — | |
| Q1 2012 | -5.8% | — | — | |
| Q4 2009 | +13.4% | — | — | |
| Q4 2011 | +13.4% | — | — | |
| Q3 2011 | -5.2% | — | — | |
| Q3 2010 | -5.2% | — | — | |
| Q2 2011 | -5.7% | — | — | |
| Q2 2010 | +1.5% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2010 | +1.5% | — | — |
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