Quanex Building Products up after Q4 net sales rise on strong Tyman business

Quanex Building Products

13/12/2024 14:25

** Shares of construction supplies manufacturer Quanex
Building Products  NX.N  rise about 2% to $29.48 in premarket
trading
    ** Company posted Q4 results after market close on Thursday
    ** Quanex reports rise by 66.6% in quarterly net sales to
$492.2 mln, helped by contribution from its acquisition of
London based Tyman and Quanex's North American cabinet
components segment sales
    ** CEO George Wilson sees results improving in second half
of 2025 due to typical seasonality and benefit from unwinding
pent up demand as interest rates continue to trend lower
    ** Company also posted Q4 adjusted EPS of 61 cents vs 95
cents a year ago due to increased costs, especially the doubling
of selling, general and administrative costs
    ** Up to Thursday's close, stock has fallen 5.4% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))