Quanex Building (NX) Q4 Earnings Top Estimates, Margins Rise
Zacks Investment Research | Dec 11, 2019 09:02PM ET
Quanex Building Products Corporation (NYSE:NX) reported better-than-expected earnings in fourth-quarter fiscal 2019 (ended Oct 31, 2019). Its earnings not only surpassed the Zacks Consensus Estimate but also grew significantly on a year-over-year basis, benefiting from improved pricing.
During the reported quarter, adjusted earnings came in at 42 cents per share, surpassing the consensus estimate of 40 cents by 5%. Also, the bottom line improved an impressive 90.9% from the year-ago figure of 22 cents on the back of benefits from the implementation of pricing initiatives and gains from operational efficiency.
Quanex Building reported net sales of $240.4 million, marginally missing the consensus mark of $241.4 million by 0.4% and declining 1.5% from the year-ago period. The decline was mainly due to continued softness in the North American Cabinet Components segment.
Quanex Building Products Corporation Price, Consensus and EPS Surprise
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