Quanex Building Products (NYSE:NX) Q217 Result Tops Street View

Quanex Building Products Corporation (NYSE:NX) headquartered in Houston, Texas, announced net income for the second quarter of $ 1.46 million or $ 0.04 per share, compared to income $ 3.94 million or $ 0.11 per share for the year-ago quarter.

The company recorded second quarter adjusted earnings of $ 3.79 million or $ 0.11 per share, while analysts from Thomson Reuters expected income of $ 0.05 per share.

Top line figures for the second quarter decreased 9% to $ 209.13 million from $ 229.46 million in the same quarter last year, where as analysts anticipated $ 205.30 million.

Analysts estimate generally exclude one time gain or loss.

For the first six months, Quanex Building Products posted net revenues of $ 404.23 million compared with $ 430.93 in the same period of previous year.

Net loss for the first six months confined to $ 2.26 million or $ 0.07 per share from loss of $ 3.31 million or $ 0.10 per share year ago.

Bill Griffiths, Chairman, President and CEO, said: Second quarter results came in as expected, despite weather related weakness in April. he U.S. vinyl profiles business consolidation is behind us, and while still early, we feel we have turned the corner at Woodcraft. As such, we are confident in achieving our second half margin expansion and cash flow expectations and are comfortable with our previously disclosed 2017 guidance.

Further, Quanexs Board of Directors declared a quarterly cash dividend of $0.04 per share, payable June 30, 2017, to shareholders of record on June 15, 2017.

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