Quanex (NYSE: NX) reported Q1 EPS of $0.43, $0.13 better than the analyst estimate of $0.30. Revenue for the quarter came in at $270.4 million versus the consensus estimate of $230.4 million.

Outlook:

George Wilson, President and Chief Executive Officer, stated, “Our outlook for the balance of the year remains positive and we continue to be optimistic about the economic recovery. We do anticipate ongoing inflationary pressure and challenges with our supply chain and labor. However, based on our strong first half results, ongoing conversations with our customers and the latest macroeconomic indicators for the residential housing industry, we are again raising our expectations for the year. We now expect approximately 20% sales growth in our North American Fenestration segment, approximately 15% sales growth in our North American Cabinet Components segment, and approximately 40% sales growth in our European Fenestration segment. In summary, on a consolidated basis, we now believe we can achieve net sales of approximately $1.04 billion to $1.06 billion, which we expect will generate approximately $125 million to $130 million in Adjusted EBITDA* in fiscal 2021.”

*When Quanex provides expectations for Adjusted EBITDA on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and corresponding GAAP measures is generally not available without unreasonable effort. Certain items required for such a reconciliation are outside of the Company’s control and/or cannot be reasonably predicted or estimated, such as the provision for income taxes.

For earnings history and earnings-related data on Quanex (NX) click here.