Quanex Beats Expectations, Despite Flat Sales

Quanex, a building products manufacturer, surprised Wall Street with stronger-than-expected third quarter earnings, despite flat sales. The company beat analyst predictions for revenue and adjusted earnings per share, leading to a positive market reaction. Management attributed this performance to smart operational strategies, including cost savings from a recent acquisition and improved cash flow. Analysts asked about competitive pricing, product categories, and the Monterrey facility, with the CEO confirming stable pricing, highlighting wood components as a potential winner, and assuring no widespread systemic risks. Looking ahead, analysts will monitor the Monterrey facilitys recovery, acquisition integration, and demand from housing and remodeling markets.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.