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- Material Weakness (worsened) — Cash flow control deficiency originally identified in FY2024 remained unremediated through FY2025, extending duration to two years with remediation now pushed to Oct 2026.
revenue $462.4M, net income $3.4M. Quanex swings to loss as tariffs hammer Hardware margins; cash flow controls still broken
Filed June 5, 2026 · Period ending April 30, 2026 · Compared to 10-Q Jun 6, 2025 · ~2 min read
Key Changes
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high
Hardware Solutions operating margin collapsed from +7% to -3% as tariff costs, unfavorable FX, and transport expenses drove $16.9M in cost overruns while revenue stayed flat.
MD&A: Hardware Solutions verify on EDGAR → -
high
Material weakness in cash flow statement controls persists for second year; remediation now pushed to Oct 2026 from Oct 2025, with confidence language removed.
Controls & Procedures verify on EDGAR → -
high
Six-month operating cash flow turned negative at -$1.3M vs. +$16M prior year, driven by lower earnings and unfavorable working capital swings.
MD&A: Liquidity verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 10, 2026 · How we verify