Quanex Building Products Files Q2 2024 10-Q

TL;DR

**Quanex Building Products dropped its Q2 2024 10-Q, check the financials for the latest numbers.**

AI Summary

Quanex Building Products Corp. filed its 10-Q for the period ending April 30, 2024. The company reported financial results for the second quarter and the first half of its fiscal year. Specific financial figures and operational details are provided within the filing, which covers the period from November 1, 2023, to April 30, 2024.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Quanex Building Products, a key player in the building materials sector.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or unusual disclosures.

Key Numbers

• 10/31 2024 — Fiscal Year End (Indicates the company's fiscal year concludes on October 31st.)
• 2024-04-30 — Quarter End Date (The end date for the reporting period covered by this 10-Q.)
• 2023-11-01 — Quarter Start Date (The start date for the reporting period covered by this 10-Q.)

Key Players & Entities

• Quanex Building Products CORP (company) — Filer of the 10-Q
• 20240430 (date) — End of the reporting period
• 20240607 (date) — Filing date
• 7139614600 (dollar_amount) — Business phone number

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share NX New York Stock Exchange

Filing Documents

• nx-20240430.htm (10-Q) — 1332KB
• nx04302024ex311.htm (EX-31.1) — 10KB
• nx04302024ex312.htm (EX-31.2) — 10KB
• nx04302024ex321.htm (EX-32.1) — 5KB
• 0001423221-24-000009.txt ( ) — 7660KB
• nx-20240430.xsd (EX-101.SCH) — 51KB
• nx-20240430_cal.xml (EX-101.CAL) — 71KB
• nx-20240430_def.xml (EX-101.DEF) — 225KB
• nx-20240430_lab.xml (EX-101.LAB) — 656KB
• nx-20240430_pre.xml (EX-101.PRE) — 479KB
• nx-20240430_htm.xml (XML) — 1248KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1

: Financial Statements (Unaudited)

Item 1: Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets – April 30, 2024 and October 31, 2023 1 Condensed Consolidated Statements of Income – Three and Six Months Ended April 30 , 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income – Three and Six Months Ended April 30 , 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows – Six Months Ended April 30, 2024 and 2023 4 Condensed Consolidated Statement of Stockholders' Equity – Six Months Ended April 30, 2024 and 2023 5 Notes to Unaudited Condensed Consolidated Financial Statements 7

: Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 27

: Quantitative and Qualitative Disclosures About Market Risk

Item 3: Quantitative and Qualitative Disclosures About Market Risk 37

: Controls and Procedures

Item 4: Controls and Procedures 38

OTHER INFORMATION

PART II. OTHER INFORMATION 39

: Risk Factors

Item 1A: Risk Factors 39

: Other Information

Item 5: Other Information 39

: Exhibits

Item 6: Exhibits 40 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements QUANEX BUILDING PRODUCTS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) April 30, 2024 October 31, 2023 (In thousands, except share amounts) ASSETS Current assets: Cash and cash equivalents $ 56,149 $ 58,474 Accounts receivable, net of allowance for credit losses of $ 198 and $ 843 87,078 97,311 Inventories 101,446 97,959 Income taxes receivable 6,054 8,298 Prepaid and other current assets 12,776 11,558 Total current assets 263,503 273,600 Property, plant and equipment, net of accumulated depreciation of $ 381,366 and $ 368,763 252,857 250,664 Operating lease right-of-use assets 65,019 46,620 Goodwill 184,481 182,956 Intangible assets, net 68,667 74,115 Other assets 2,686 3,188 Total assets $ 837,213 $ 831,143 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 60,615 $ 74,371 Accrued liabilities 48,851 50,319 Income taxes payable — 384 Current maturities of long-term debt 2,632 2,365 Current operating lease liabilities 6,433 7,224 Total current liabilities 118,531 134,663 Long-term debt 51,549 66,435 Noncurrent operating lease liabilities 59,965 40,361 Deferred income taxes 29,280 29,133 Other liabilities 11,766 14,997 Total liabilities 271,091 285,589 Commitments and contingencies Stockholders' equity: Preferred stock, no par value, shares authorized 1,000,000 ; issued and outstanding - none — — Common stock, $ 0.01 par value, shares authorized 125,000,000 ; issue d 37,127,024 and 37,176,958 , respectively; outstanding 33,111,593 and 33,011,119 , respectively 371 372 Additional paid-in-capital 249,502 251,576 Retained earnings 425,650 409,318 Accumulated other comprehensive loss ( 34,631 ) ( 38,141 ) Less: Treasury stock at cost, 4,015,431 and 4,165,839 shares, respectively ( 74,770 ) ( 77,571 ) Total stockholders' equity 566,122 545,554 Total liabilities and stockholders' equity $ 837,213 $ 831,143 The accompanying notes are an integral pa

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View this 10-Q filing on SEC EDGAR