Quanex Building Q3 Profit Rises

(RTTNews) - Quanex Building Products Corp. (NX) Wednesday reported an increase in third-quarter profit, mirroring higher revenues.

For the three-month period, the company reported net income of $5 million or $0.13 per share, compared with $1.5 million or $0.04 per share last year. EBITDA for the quarter was $19.3 million compared with $10.6 million a year ago.

On average, eight analysts polled by Thomson Reuters expected loss per share of $0.11 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales increased 8.9 percent to $259.2 million compared with $237.9 million previous year. Analysts expected the company to report revenues of $265.21 million for the quarter.

On August 29, the company declared a quarterly cash dividend of $0.04 per share payable on September 30 to shareholders on record September 16.