Quanex Building Products CORP
For the period ended Apr 30, 2024. Filed Jun 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Apr 30, 2024 · Filed Jun 7, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended April 30, 2024
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission File Number 1-33913
(Exact name of registrant as specified in its charter)
| Delaware | 26-1561397 |
|---|---|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |
945 Bunker Hill Road, Suite 900, Houston, Texas 77024
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (713)961-4600
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | NX | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☐ (Do not check if a smaller reporting company) | Smaller reporting company | ☐ |
| Emerging growth company | ☐ | ||
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Securities Act. | ☐ | ||
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐
The number of shares outstanding of the registrant's Common Stock as of May 31, 2024 was 33,112,593.
INDEX
| PART I. | FINANCIAL INFORMATION | 1 |
|---|---|---|
| Item 1: | Financial Statements (Unaudited) | 1 |
| Condensed Consolidated Balance Sheets – April 30, 2024 and October 31, 2023 | 1 | |
| Condensed Consolidated Statements of Income – Three and Six Months Ended April 30, 2024 and 2023 | 2 | |
| Condensed Consolidated Statements of Comprehensive Income – Three and Six Months Ended April 30, 2024 and 2023 | 3 | |
| Condensed Consolidated Statements of Cash Flows – Six Months Ended April 30, 2024 and 2023 | 4 | |
| Condensed Consolidated Statement of Stockholders’ Equity – Six Months Ended April 30, 2024 and 2023 | 5 | |
| Notes to Unaudited Condensed Consolidated Financial Statements | 7 | |
| Item 2: | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 27 |
| Item 3: | Quantitative and Qualitative Disclosures About Market Risk | 37 |
| Item 4: | Controls and Procedures | 38 |
| PART II. | OTHER INFORMATION | 39 |
| Item 1A: | Risk Factors | 39 |
| Item 5: | Other Information | 39 |
| Item 6: | Exhibits | 40 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.