10-Q - Quanex Building Products CORP (0001423221) (Filer)

Tue, Mar 11, 8:05 PM (46 days ago)

Quanex Building Products Corporation (NX) reported a net loss of $14.9 million for the quarter ended January 31, 2025, compared to a net income of $6.2 million for the same period in 2024. This loss was primarily driven by a significant increase in interest expense and restructuring charges related to the acquisition of Tyman plc. Revenue increased by 67% to $400.0 million, driven by higher volumes and price increases, partially offset by foreign currency impacts. However, operating income decreased by 188% to a loss of $6.9 million, due to higher costs and restructuring charges. The company's cash flow from operations decreased by $16.4 million to a use of $12.5 million, primarily due to lower net income and unfavorable changes in working capital. The company's cash and cash equivalents decreased by $47.5 million to $55.5 million. Quanex's financial health and performance metrics indicate a challenging quarter, with significant losses and decreased cash flow. The company's future operations may be impacted by ongoing integration efforts related to the Tyman acquisition, as well as market uncertainties and geopolitical tensions.