Quanex Building Products (NYSE:NX) reported third-quarter fiscal 2026 sales of $501.8 million, a 1.3% increase from $495.3 million a year prior. The company attributes the growth to higher pricing, which rose approximately 3%, with tariff refunds reducing revenue by about 2%. Net income for the quarter, ending July 31, totaled $26.5 million, or $0.58 per diluted share, a significant recovery from a net loss of $276 million in the same period last year.
In addition to net income, adjusted EBITDA rose to $72.7 million from $70.3 million year-over-year. Housing demand remains mixed, with U.S. single-family starts in July at an annualized rate of 808,000—down 16% from the prior year. Despite the challenges, total permits rose by 3%, indicating possible future growth.
Looking ahead, Quanex expects consolidated revenue growth of 2% to 3% for the fourth quarter, with adjusted EBITDA margin expansion of 50 to 75 basis points. The company aims to prioritize debt repayment and organic investments while maintaining a cautious outlook on near-term market conditions.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
