Quanex Q3 Earnings Beat Street Mark, Revenues Miss

Quanex Building Products (NX), a component supplier of engineered products, reported Wednesday its Q3 2015 net income higher than the Street consensus, while revenues fell short.

Net income for the quarter was $6.9 million, or $0.20 per share; down from $8 million, or $0.21 per share in Q3 2014. On an adjusted basis, net income for the quarter was $0.28 per share, up from $0.23 per share in the prior year period and higher than the $0.12 per share Street estimate.

Net sales were $180.2 million, up from $170 million reported for the same period last year but came in lower than the $188.4 million Street estimate.

Shares were unchanged pre-bell, near the low end of the 52-week range of $17.03 – $21.93.