NX News & Events

Quanex Building Products announced the appointment of Chad Collins to President, Hardware Solutions. Collins succeeds Bob Daniels, who will retire at the end of 2026 after more than 35 years with the organization. Collins' background includes leadership roles at OTC Industrial Technologies, Haydon Corporation, Myers Industries, Parker Hannifin and Philips Healthcare. In his new role, Collins will lead the strategic and operational direction of Quanex Hardware Solutions with a focus on growth, innovation and delivering long-term value for customers and shareholders. Daniels will support Collins's leadership transition through the end of May 2026 and will remain engaged with the business throughout the year.

Reports Q1 revenue $409.1M, consensus $405.75M. George Wilson, CEO, stated, "Our results for the first quarter tracked our expectations given the current macroeconomic backdrop. The combination of inflationary pressures, high interest rates, tariff uncertainty, housing affordability issues, and geopolitical tensions continued to weaken consumer confidence around the world, ultimately impacting demand for the products we manufacture. However, we continue to focus on identifying operational efficiencies and commercial synergies that we believe will benefit us when consumer confidence improves and demand rebounds. Due to the seasonality of our business, coupled with the longer cash conversion cycle of the legacy Tyman business, we expect to be a net borrower during the first half of our fiscal year, which impacts our leverage ratio. Our balance sheet is healthy, and we will remain focused on prioritizing debt repayment as we generate cash. Looking ahead, we continue to be optimistic about our prospects for profitable growth and value creation."

CEO George Wilson commented, "Our long-term view continues to be favorable as the underlying fundamentals for the residential housing market remain positive. We entered fiscal 2026 with a cautious outlook due to the ongoing macroeconomic challenges, but we continue to believe that demand for our products will improve as we expect consumer confidence to be restored over time. Based on conversations with our customers, recent demand trends, and the latest macro data, we are providing guidance for fiscal 2026. Overall, on a consolidated basis, we estimate we will generate net sales of $1.84B-$1.87B, which we expect will yield approximately $240M-$245M in Adjusted EBITDA in fiscal 2026. As mentioned on our last earnings call, we anticipate the first half of 2026 to be more challenging than the first half of 2025, which implies an improved second half year-over-year. As macroeconomic uncertainty subsides and consumer confidence improves, we believe we are well positioned to capitalize on pent-up demand. In the meantime, we will stay focused on the things that we can control, with an emphasis on generating cash to pay down debt and opportunistically repurchasing our stock."