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- Goodwill Impairment (new) — The prior-year quarter included a $302.3 million non-cash goodwill impairment charge, which explains the swing from a large loss to a profit.
Quanex swings to Q3 profit of $26.5M on 1.3% sales growth, repays $42.25M debt
Filed September 3, 2026 · Period ending September 3, 2026 · ~1 min read
Key Changes
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Net income was $26.5 million in Q3 2026 versus a $276.0 million loss a year earlier, which included a $302.3 million non-cash goodwill impairment.
Exhibit 99.1 view on EDGAR → -
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Net sales rose 1.3% to $501.8 million, with Extruded Solutions up 2.8% and Custom Solutions up 8.5%, while Hardware Solutions declined 2.7%.
Exhibit 99.1 view on EDGAR → -
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Adjusted EBITDA increased to $72.7 million from $70.3 million, with margin improving to 14.5% from 14.2%.
Exhibit 99.1 view on EDGAR → -
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Total debt was $672.2 million at quarter-end, down from $733.7 million a year earlier, after repaying $42.25 million during the quarter; leverage was 2.8x net debt to LTM adjusted EBITDA.
Exhibit 99.1 view on EDGAR → -
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The company repurchased 99,786 shares for about $1.7 million at an average price of $17.10 per share, with $28.7 million remaining under its authorization.
Exhibit 99.1 view on EDGAR →
Summary
Quanex Building Products reported third-quarter fiscal 2026 results showing a return to profitability, with net income of $26.5 million compared to a $276.0 million loss in the same period last year. The prior-year loss was driven by a $302.3 million non-cash goodwill impairment charge, which did not recur.
Net sales grew 1.3% to $501.8 million, supported by pricing gains and growth in the Extruded Solutions and Custom Solutions segments, partially offset by a decline in Hardware Solutions and tariff-related reimbursements to customers. The company also strengthened its balance sheet, repaying $42.25 million of debt during the quarter and reducing total debt to $672.2 million from $733.7 million a year earlier.
Leverage stood at 2.8x net debt to LTM adjusted EBITDA. Adjusted EBITDA rose to $72.7 million with a margin of 14.5%, up from 14.2% a year ago. Quanex also repurchased nearly 100,000 shares for about $1.7 million. For retail investors, the key takeaway is that the company has moved past the large impairment that depressed prior-year results and is generating modest sales growth and improved profitability. The goodwill impairment from last year remains a notable historical event, but the current quarter shows a cleaner earnings picture with debt reduction and ongoing buybacks.
Section-by-Section Diff
Event · Exhibit 99.1
Quanex reports Q3 2026 results: net sales up 1.3% to $501.8M, net income of $26.5M vs. a $276.0M loss a year ago, and $42.25M of debt repaid.
Added in current filing · view on EDGAR →
Net income (loss) $ 26,504 $ (276,007 ) $ 25,783 $ (270,377 )
Net income swung to $26.5 million in Q3 2026 from a $276.0 million loss in Q3 2025, which had been depressed by a $302.3 million non-cash goodwill impairment. Diluted EPS was $0.58 versus a loss of $6.04 per share a year ago.
Added in current filing · view on EDGAR →
Adjusted EBITDA $72.7 $70.3 $144.3 $172.0
Adjusted EBITDA rose to $72.7 million in Q3 2026 from $70.3 million in Q3 2025, with adjusted EBITDA margin improving to 14.5% from 14.2%. For the nine-month period, adjusted EBITDA declined to $144.3 million from $172.0 million.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 4, 2026 · How we verify