Welcome to our dedicated page for Quanex Build news (Ticker: NX), a resource for investors and traders seeking the latest updates and insights on Quanex Build stock.
Quanex Building Products Corporation (NYSE: NX) is a global manufacturer that supplies engineered components and materials to original equipment manufacturers in the window, door, solar, refrigeration, building access, custom mixing and cabinetry markets. This news page aggregates company announcements, earnings releases and other updates that Quanex provides to investors and the public.
Readers can find quarterly and annual earnings results, where Quanex reports net sales, margins, segment performance and non-GAAP metrics such as Adjusted Net Income, Adjusted EBITDA and Free Cash Flow. These releases often include commentary from management on business conditions, integration of the Tyman acquisition, progress on cost synergy targets, and observations about demand trends in its end markets.
The news feed also includes dividend declarations, detailing quarterly cash dividends on the company’s common stock, along with record and payment dates as disclosed by the Board of Directors. In addition, Quanex publishes updates on capital allocation, such as share repurchases under its authorized repurchase program and information about debt repayment and liquidity.
Corporate governance and leadership developments are another focus of Quanex’s news. The company issues press releases and related Form 8-K filings when it appoints new directors, assigns committee roles, or appoints senior officers such as its Chief Accounting Officer. These items provide background on appointees and describe how they fit into the company’s governance structure.
Investors and analysts can use this page to review Quanex’s earnings release schedules, conference call and webcast details, and follow-up replays as described in company announcements. By reviewing the sequence of press releases and associated SEC filings, users can track how Quanex communicates its financial performance, integration activities, dividend policy and board-level changes over time.
Quanex Building Products (NYSE:NX) has announced a quarterly cash dividend of $0.08 per share on its common stock. The dividend is set to be paid on September 30, 2024, to shareholders of record as of September 16, 2024. This declaration by the Company's Board of Directors demonstrates Quanex's commitment to providing regular returns to its shareholders. The consistent dividend payout suggests financial stability and confidence in the company's cash flow generation capabilities.
Quanex Building Products (NYSE: NX) has announced its schedule for releasing third quarter 2024 earnings and hosting a conference call. The company plans to release its financial results on Thursday, September 5, 2024 after the New York Stock Exchange closes. A conference call to discuss the results is scheduled for Friday, September 6, 2024 at 11:00 a.m. ET (10:00 a.m. CT).
Investors can access a live audio webcast of the call on Quanex's website in the Investors section under Presentations & Events. Participants are encouraged to pre-register for the call using the provided link. A replay of the call will be available for a time on the company's website.
Quanex Building Products (NYSE: NX) has appointed Manish H. Shah and Amit Singhi to its Board of Directors, effective August 12, 2024. CEO George Wilson expressed confidence in their unique perspectives and potential contributions to the company's focus on profitable growth.
Mr. Shah, currently the Chief Digital Transformation Officer at ServiceNow (NYSE: NOW), brings extensive experience in IT service management and digital healthcare. Mr. Singhi, the CFO of Humanetics, has a strong background in finance and operations across various industries. Both appointees possess advanced degrees and have held leadership positions in prominent companies, enhancing Quanex's board expertise in technology, finance, and strategic growth.
Quanex Building Products (NYSE: NX) has successfully closed its acquisition of Tyman plc, creating a comprehensive solutions provider in the building products industry. This strategic move aligns with Quanex's 'BIGGER' strategy, enhancing the company's scale, global reach, and product offering. The acquisition is expected to strengthen brand leadership, accelerate growth, and increase profitability through greater scale and stronger cash flow.
Key highlights include:
- Integration of approximately 50% within the first 12 months
- Meaningful earnings accretion expected within the first full year
- Board Observer right granted to Teleios Global Opportunities Master Fund
- Suspension and cancellation of Tyman's common stock trading on the London Stock Exchange
Quanex Building Products (NYSE: NX) has announced the approval of its proposed acquisition of Tyman plc (LSE: TYMN) by the shareholders of both companies. George Wilson, Quanex's CEO, expressed gratitude to the shareholders for their support and highlighted the upcoming integration of the two companies. The transaction offers Tyman shareholders a choice between cash and shares or a capped all-share alternative, with potential proration if the all-share option is oversubscribed. A special dividend of 15 pence will also be paid to Tyman shareholders. Post-acquisition, Tyman shareholders will own 30-32% of Quanex on a fully diluted basis. The closing of the transaction is expected in August, pending customary conditions.
Quanex Building Products (NYSE:NX) announced its Q2 2024 results, showing net sales of $266.2 million, down 2.7% YoY. The decrease was due to weaker market demand in its European Fenestration and North American Cabinet Components segments. Despite this, the company achieved margin expansion in North America. Net income was $15.4 million, down from $21.5 million YoY. Diluted EPS was $0.46, a decrease from $0.65. Adjusted Net Income remained stable at $21.8 million, and Adjusted Diluted EPS was unchanged at $0.66. Quanex repaid $10 million in bank debt, leaving no outstanding draws on its revolver. The company reaffirmed its FY 2024 guidance, projecting net sales of around $1.1 billion and Adjusted EBITDA of $145-$150 million.
Quanex Building Products (NYSE:NX) has declared a quarterly cash dividend of $0.08 per share on its common stock.
The dividend will be paid on June 28, 2024, to shareholders who are recorded as of June 14, 2024.
Quanex Building Products (NYSE: NX) has announced the release of its Q2 2024 financial results scheduled for June 6, 2024, post-market close. A conference call to discuss these results will occur on June 7, 2024, at 11:00 a.m. ET. The call will be available via a live audio webcast on Quanex's website. Participants can pre-register for the conference and will receive specific dial-in details upon registration. A replay will also be accessible on the company's website for a period.
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