$NX (Quanex Building Products Corporation)

$NX {{ '2016-06-01T15:21:01+0000' | timeago}} • Webcast

Maker of steel bars and aluminum impact extrusions $NX said that net debt-to-pro forma adjusted EBITDA leverage ratio was 2.9 times immediately following the closing of the Woodcraft acquisition. The company was able to generate enough free cash to pay off more than $10MM of debt in 2Q16.

$NX {{ '2017-12-12T12:45:40+0000' | timeago}} • Announcement

For FY18, $NX expects to generate net sales of about $890-900MM and adj. EBITDA of about $103-108MM.

$NX {{ '2017-12-12T12:41:50+0000' | timeago}} • Announcement

During 4Q17, $NX divested its non-core wood flooring business, Owens Flooring, on Oct. 31, 2017. The business generated $9.4MM of revenue and net income of less than $0.1MM.

$NX {{ '2017-12-12T12:37:47+0000' | timeago}} • Announcement

Maker of steel bars and aluminum impact extrusions $NX reported a dramatic rise in 4Q17 earnings, despite a 7% drop in revenues. Net income rose to $10.7MM, or $0.31 per share, from $5.4MM, or $0.16 per share during 4Q16. Adj. EPS was $0.37. Net sales fell to $233MM, hurt by the company's exit from business that did not meet financial objectives.

$NX {{ '2017-12-04T22:21:52+0000' | timeago}} • Announcement

$NX declared a quarterly cash dividend of $0.04 per share on its common stock, payable December 29, 2017, to shareholders of record on December 15, 2017.

$NX {{ '2017-07-25T15:09:08+0000' | timeago}} • Announcement

$NX has elevated George Wilson to the post of COO, effective Aug 1, 2017.  In his new capacity, Wilson will be responsible for the company's U.S. and International operations and reporting directly to Bill Griffiths, Chairman, President and CEO. Prior to promotion, Wilson was President of Insulating Glass Systems since 2011.

$NX {{ '2017-05-31T15:50:29+0000' | timeago}} • Webcast

On U.S. Vinyl Profiles Business front, $NX anticipated annual revenue reduction of $65MM. The company said the revenue reduction continued on pace with $17MM reduction in 2Q17 after an $11MM reduction in 1Q17. The company expects the balance of $37MM to be split relatively evenly between 3Q17 and 4Q17.

$NX {{ '2017-05-31T15:41:53+0000' | timeago}} • Webcast

$NX said it recorded additional restructuring charges in 2Q17 related to the closing of the two U.S. vinyl extrusion facilities and the Mexican Cabinet Components facility in late 2016 and early 2017.

$NX {{ '2017-05-30T20:44:08+0000' | timeago}} • Announcement

$NX Board declared a quarterly cash dividend of $0.04 per share on the company's common stock, payable June 30, 2017, to shareholders as on June 15, 2017.

$NX {{ '2017-05-30T20:42:24+0000' | timeago}} • Announcement

$NX stated that it is confident of achieving its 2H17 margin expansion and cash flow expectations and is comfortable with its previously disclosed 2017 guidance.

$NX {{ '2017-05-30T20:36:53+0000' | timeago}} • Announcement

$NX, which makes building products, posted 9% lower net sales of $209.1MM in 2Q17, due to its decision to walk away from less profitable businesses. Net income decreased to $1.5MM, or $0.04 per share, compared to $3.9MM, or $0.11 per share in 2Q16. Adjusted EBITDA decreased to $20.5MM during the quarter.

$NX {{ '2017-03-06T22:20:00+0000' | timeago}} • Announcement

$NX expects margin expansion in 2H17 as well as continued cash flow improvement. Negotiations related to the margin dilutive revenue identified in the cabinet components business continue with various customers. This is expected to be complete by the end of 2Q17.

$NX {{ '2017-03-06T22:16:18+0000' | timeago}} • Announcement

$NX shrunk its net loss to $3.7MM in 1Q17 from $7.2MM in the previous year, helped by the lower interest expense. Net loss per share was flat at $0.21 per share. Revenue dropped 3% to $195.1MM. The consolidation of the company's U.S. vinyl profiles business is progressing well and will be complete by the end of 2Q17.

$NX {{ '2016-12-16T16:53:42+0000' | timeago}} • Webcast

$NX took price decreases in the vinyl profile business in 2016. The company did not see price increases in this sector in 2016 and does not expect this trend to change in 2017. $NX may get some selected price increases on specific products with specific customers in its other businesses but overall the pricing environment remains tough.

$NX {{ '2016-12-16T16:25:13+0000' | timeago}} • Webcast

$NX expects to spend approx. $40MM in 2017 on Capex. Longer-term, $NX believes annual Capex levels will settle between $30-35MM. For 2017, $NX assumes depreciation of approx. $36MM, amortization of approx. $18MM, interest expense of approx. $10MM and a tax rate of 31%.

$NX {{ '2016-12-16T16:14:12+0000' | timeago}} • Webcast

$NX recorded restructuring charges of $529,000 in 4Q16 related to the closing of two US vinyl extrusion facilities and the cabinet components facility in Mexico. The company will have more expense in 2017 as a result of these closures for equipment relocation, lease run-off and accelerated depreciation and amortization.

$NX {{ '2016-12-15T21:49:32+0000' | timeago}} • Announcement

$NX projects underlying sales growth of 5-6% for FY17 and a potential negative foreign currency translation impact of approx. $20MM. The company expects that new housing starts to return to at least 1.5MM per year and that there is pent up demand in the R&R market.

$NX {{ '2016-12-15T21:47:53+0000' | timeago}} • Announcement

$NX reported FY16 net sales of $928.2MM, up 44% from a year ago, and net loss of $1.9MM, hurt by $16.7MM interest expense related to the debt refinancing and $12.6MM non-cash goodwill impairment related to U.S. vinyl profiles business. Adjusted EBITDA grew 58% to $110.3MM. Operating cash flow grew 29% to $86.4MM.

$NX {{ '2016-12-15T21:47:43+0000' | timeago}} • Announcement

$NX posted 4Q16 earnings of $5.43MM, or $0.16 per diluted share, down 45% from a year ago, hurt by $12.6MM non-cash goodwill impairment related to US vinyl profiles business. Net sales increased 27% to $249.2MM, driven by revenue generated from the acquisitions of HL Plastics and Woodcraft Industries in FY15. Adjusted EBITDA grew 14% to $34.6MM.

$NX {{ '2016-12-06T13:19:44+0000' | timeago}} • Announcement

$NX said its BoD declared a quarterly cash dividend of $0.04 per share on the company's common stock, payable Dec. 30, 2016, to shareholders of record on Dec. 15, 2016.

$NX {{ '2016-09-06T21:55:04+0000' | timeago}} • Webcast

Al Kaschalk of Wedbush Securities asks about why Germany was softer than the UK or softer than expectations. $NX said the company was taken by surprise and really doesn't know the reason for the softness. The company anticipated a bit of a slowdown in the UK but Germany almost came to a halt.

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