Quanex (NYSE: NX) reported Q4 EPS of $0.95, $0.25 better than the analyst estimate of $0.70. Revenue for the quarter came in at $295.5 million versus the consensus estimate of $293.84 million.

Outlook:

Mr. Wilson stated, “We enter fiscal 2024 with a somewhat cautious outlook for the first half due to the ongoing macroeconomic challenges combined with typical seasonality in our business, but we are optimistic that demand for our products will improve in the second half as consumer confidence is restored over time. However, consistent with the last two years, based on current macro indicators, recent conversations with our customers, limited transparency, and varying opinions on the outlook for 2024, we are taking a thoughtful approach to guidance for 2024. As such, we believe it would be premature to give guidance at this time and intend to re-visit guidance for 2024 when we report earnings for the first quarter. Our long-term view continues to be optimistic as the underlying fundamentals for the residential housing market remain positive.”

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