UPDATE: Quanex Posts FQ2 Loss
Quanex Building Products Corp (NYSE: NX) reported a wider fiscal second-quarter loss.
Quanex posted a quarterly loss of $12.3 million, or $0.34 per share, versus a year-earlier loss of $1.39 million, or $0.04 per share.
Its revenue dropped 4.3% to $194.4 million. However, analysts were expecting a loss of $0.08 per share on revenue of $201 million.
Its gross margin dropped to 11.6% from 13.6%.
Sales of engineered products surged 32% to $108.8 million.
Quanex shares gained 1.69% to $16.22 at 9:35 am.
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