NX - Quanex Building Products Non-GAAP EPS of $0.79 beats by $0.18 revenue of $324.04M beats by $23.58M

• Quanex Building Products press release ( NYSE: NX ): FQ3 Non-GAAP EPS of $0.79 beats by $0.18 .
• Revenue of $324.04M (+15.8% Y/Y) beats by $23.58M .
• Robust Revenue Growth of ~16% Year-Over-Year
• Margin Expansion Realized in NAF and NACC
• Significant Increase in Earnings
• Repaid $25 Million in Bank Debt
• Balance Sheet & Liquidity Remain Strong.
• Outlook: We are reaffirming guidance for fiscal 2022, which is based on our strong results year-to-date coupled with ongoing conversations with our customers. Overall, demand for our products is still relatively healthy, but in addition to the softness in Europe we are starting to see signs of softness in North America, mainly in our cabinet components business. For the fourth quarter of this year, we now expect ~15% revenue growth in our North American Fenestration segment and low-single digit revenue growth in our North American Cabinet Components segment. Due to continued softness in Europe and the foreign exchange impact, we expect revenue to decline by ~15% in our European Fenestration segment in the fourth quarter. As a reminder, on a consolidated basis, we guided to net sales of $1.18 billion to $1.2 billion, which we expect will generate approximately $150 million to $155 million in Adjusted EBITDA in fiscal 2022.

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