Quanex (NX) To Report Q3 Earnings: What's In The Cards?
Zacks Investment Research | Sep 01, 2019 10:18PM ET
Quanex Building Products Corporation (NYSE:NX) is slated to report third-quarter fiscal 2019 results on Sep 5, after the closing bell.
In the last reported quarter, although revenues of Quanex — an industry-leading supplier of window and cabinet components to original equipment manufacturers — fell shy of analysts’ expectations, earnings topped the Zacks Consensus Estimate by 46.2% and increased 35.7% year over year. Notably, the company’s earnings surpassed analysts’ expectations in six of the trailing seven quarters.
Importantly, free cash flow in the quarter was solid and more than doubled year over year to $13.6 million. This enabled it to repay $5 million in bank debt during the quarter and repurchase approximately $2.7 million of shares.
Which Way are Estimates Trending?
Let’s take a look at the estimate revision trend in order to get a clear picture of what analysts are thinking about the company prior to the earnings release.
For the quarter to be reported, the Zacks Consensus Estimate has remained unchanged over the past 60 days at 36 cents per share. This indicates a 9.1% increase from the year-ago reported earnings of 33 cents per share. Revenues are expected to be $246 million, suggesting a 2.6% year-over-year increase.
Quanex Building Products Corporation Price and EPS Surprise
Earnings ESP Filter .Earnings ESP: The company has an Earnings ESP of 0.00%.
Zacks Rank: Quanex currently carries a Zacks Rank #3, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult.
Notably, we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
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