Quanex Building Products Corp (NX) released its second quarter results on Friday, June 4, 2021. The company reported net earnings of $0.43 per share for the second quarter ending April 30, 2021. Earnings for this past quarter were up 156 percent compared to the same period a year ago.
Quanex Building Products Corporation was founded in 1927 and is headquartered in Houston, Texas. Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.
Quanex Building Products' revenue increased 12 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 22.89% for the second quarter compared to the same period in the previous year, and operating margins increased to 7.91% over the same period. Net earnings for past trailing twelve months were $55.39 million, up 507% from the prior year.
Moving on to the balance sheet, Quanex Building Products' cash levels dropped 39% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 41.09% this past year. The current ratio for Quanex Building Products now stands at 1.73. The company increased shares outstanding by 1.17%.
Shares of NX are currently trading around $27.19. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 16.26 and price to book ratio of 2.31.
_____
This article was written by Value Investing News (https://www.valueinvestingnews.com) on Saturday, June 5, 2021.