Quanex Q2 net sales fall 2.7% to $266.2 million; diluted EPS drops to $0.46
Quanex reported results for the three months ended April 30, 2024, with net sales down 2.7% and GAAP net income and diluted EPS both lower than a year earlier. The company reaffirmed its fiscal 2024 guidance and repaid its remaining $10 million revolver balance. The pending Tyman acquisition, about $1.1 billion in enterprise value, is still expected to close in the second half of 2024, subject to shareholder and regulatory approvals.
Key points
- Net sales were $266.2 million, down 2.7% from $273.5 million a year earlier, with softer demand in Europe Fenestration and North American Cabinet Components.
- Net income was $15.4 million, or $0.46 diluted EPS, versus $21.5 million, or $0.65, a year earlier; adjusted diluted EPS was $0.66, flat year over year.
- Fiscal 2024 guidance reaffirmed: net sales of approximately $1.1 billion and Adjusted EBITDA of $145 million to $150 million.
- Tyman acquisition expected to close in the second half of 2024; conference call scheduled for June 7, 2024 at 11:00 a.m. ET.
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 06, 2024.
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