# EDGAR Filing Document

**Accession Number:** 0001423221
**File Stem:** 0001171843-25-003726
**Filing Date:** 2025-6
**Character Count:** 58790
**Document Hash:** d148788c7f5346a1f458e7dc0a97dbcc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-25-003726.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0001171843-25-003726

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250605

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Quanex Building Products CORP
- **CENTRAL INDEX KEY:** 0001423221
- **STANDARD INDUSTRIAL CLASSIFICATION:** ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 261561397
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33913
- **FILM NUMBER:** 251027328

**BUSINESS ADDRESS:**
- **STREET 1:** 945 BUNKER HILL RD
- **STREET 2:** SUITE 900
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024
- **BUSINESS PHONE:** 7139614600

**MAIL ADDRESS:**
- **STREET 1:** 945 BUNKER HILL RD
- **STREET 2:** SUITE 900
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024

?xml version='1.0' encoding='ASCII'? Form 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

### Washington, D.C. 20549
_________________

### FORM 8-K
_________________

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): June 5, 2025
_______________________________

#### Quanex Building Products Corporation
(Exact name of registrant as specified in its charter)

_______________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-33913** | **26-1561397** |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

#### 945 Bunker Hill Road, Suite 900

#### Houston, Texas 77024
(Address of Principal Executive Offices) (Zip Code)

(713) 961-4600

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | NX | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02. Results of Operations and Financial Condition.**

On June 5, 2025, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

<br> [99.1](exh_991.htm) [Press Release dated June 5, 2025](exh_991.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Quanex Building Products Corporation** | **Quanex Building Products Corporation** |
| Date: June 5, 2025 | By: | <u>/s/ SCOTT ZUEHLKE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
|  |  | Scott Zuehlke |
|  |  | SVP, CFO and Treasurer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

**Quanex Building Products Announces Second Quarter 2025 Results and Reaffirms Full Year 2025 Guidance** 

**Seasonal Uptick Unfolding as Expected Volume Growth in European Fenestration Segment Results Again Lifted by Contribution from Tyman Acquisition Tyman Integration Ahead of Timeline Cost Synergy Target Increased to ~$45 Million**

HOUSTON, June 05, 2025 (GLOBE NEWSWIRE) -- **<u>Quanex Building Products Corporation</u>** (NYSE:NX) ("Quanex" or the "Company") today announced its results for the three months ended April 30, 2025.

The Company reported the following selected financial results:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended April 30,** | **Three Months Ended April 30,** | **Six Months Ended April 30,** | **Six Months Ended April 30,** |
| ($ in millions, except per share data) | **2025** | **2024** | **2025** | **2024** |
| Net Sales | $452.5 | $266.2 | $852.5 | $505.4 |
| Gross Margin | $131.4 | $66.2 | $223.7 | $117.7 |
| &nbsp;&nbsp;*Gross Margin %* | *29.0%* | *24.9%* | *26.2%* | *23.3%* |
| Net Income | $20.5 | $15.4 | $5.6 | $21.6 |
| Diluted EPS | $0.44 | $0.46 | $0.12 | $0.65 |
| Adjusted Net Income | $27.9 | $24.0 | $36.8 | $32.3 |
| Adjusted Diluted EPS | $0.60 | $0.73 | $0.79 | $0.98 |
| Adjusted EBITDA | $61.9 | $40.0 | $100.5 | $59.3 |
| &nbsp;&nbsp;*Adjusted EBITDA Margin %* | *13.7%* | *15.0%* | *11.8%* | *11.7%* |
| Cash Provided by Operating Activities | $28.5 | $33.1 | $16.0 | $36.9 |
| Free Cash Flow | $13.6 | $25.5 | ($10.6) | $19.8 |
| (See Non-GAAP Terminology Definitions and Disclaimers section, Non-GAAP Financial Measure Disclosure table, Selected Segment Data table and reconciliation tables for additional information) | (See Non-GAAP Terminology Definitions and Disclaimers section, Non-GAAP Financial Measure Disclosure table, Selected Segment Data table and reconciliation tables for additional information) | (See Non-GAAP Terminology Definitions and Disclaimers section, Non-GAAP Financial Measure Disclosure table, Selected Segment Data table and reconciliation tables for additional information) | (See Non-GAAP Terminology Definitions and Disclaimers section, Non-GAAP Financial Measure Disclosure table, Selected Segment Data table and reconciliation tables for additional information) | (See Non-GAAP Terminology Definitions and Disclaimers section, Non-GAAP Financial Measure Disclosure table, Selected Segment Data table and reconciliation tables for additional information) |

---

George Wilson, Chairman, President and Chief Executive Officer, commented, "Our results for the second quarter of 2025 came in as expected and reflected normal seasonality in our business. Revenue in March was approximately 6% higher than February and revenue in April was approximately 9% higher than March. It was also encouraging to see volume growth in our European Fenestration segment during the second quarter of 2025. We continue to be pleased with the integration of Tyman, and are now confident we will deliver approximately $45 million in cost synergies over time, compared to our original target of $30 million within the first two years post-acquisition. On a run-rate basis, we see a path to achieving the original $30 million cost synergy target by early fiscal 2026. We also took advantage of our low stock price during the second quarter and spent over $23 million repurchasing our shares.

"Overall, despite the challenging macroeconomic environment, we expect the seasonal uptick in demand we witnessed in the second quarter to continue through the summer, and we are confident in our ability to mitigate any potential margin impact related to tariffs. In addition, any unexpected weakness in demand in the second half of 2025 could be somewhat offset by the realization of cost synergies faster than originally planned. Our near-term priorities remain unchanged, which include staying focused on the Tyman integration, capturing synergies, and generating cash flow to repurchase our stock and pay down debt. Longer-term, we continue to expect that we will benefit from the release of pent-up demand as consumer confidence improves."

**Second Quarter Results Summary**

Quanex reported net sales of $452.5 million during the three months ended April 30, 2025, which represents an increase of 70.0% compared to $266.2 million for the same period of 2024. The increase reflects the contribution from the Tyman acquisition that closed on August 1, 2024. Excluding the contribution from Tyman, net sales would have declined by 1.4% for the second quarter of 2025, mainly due to lower volume in North America. The Company reported a decrease in net sales of 5.5% for the second quarter of 2025 in its North American Fenestration segment. In its North American Cabinet Components segment, Quanex reported a marginal increase in net sales for the second quarter of 2025. Excluding foreign exchange impact, net sales increased by 7.9% in its European Fenestration segment. In addition, Quanex reported net sales of $190.1 million related to the Tyman acquisition during the second quarter of 2025. (See Sales Analysis table for additional information)

The increase in net income and EBITDA for the three months ended April 30, 2025, was mostly related to the contribution from the Tyman acquisition combined with the realization of related cost synergies.

**Balance Sheet & Liquidity Update**

As of April 30, 2025, the Company had total debt of $785.0 million and Quanex's leverage ratio of Net Debt to LTM Adjusted EBITDA decreased to 3.2x. As of April 30, 2025, the Company's LTM Net Income was $17.1 million and LTM Adjusted EBITDA was $223.5 million (See Non-GAAP Terminology Definitions and Disclaimers section, Net Debt Reconciliation table and Last Twelve Months Adjusted EBITDA Reconciliation table for additional information)

The leverage ratio for Quanex's quarterly debt covenant compliance ("Debt Covenant Leverage Ratio") for its lenders was 2.7x as of April 30, 2025. The Debt Covenant Leverage Ratio calculation is defined in the Company's Amendment No. 1 to its Second Amended and Restated Credit Agreement ("Credit Agreement"), which was filed with the SEC on June 12, 2024. In general, the main difference is that the Debt Covenant Leverage Ratio excludes real-estate leases that are considered "finance" leases under U.S. GAAP and is calculated on a proforma basis to include Adjusted EBITDA from the Tyman acquisition, $30 million of EBITDA for the synergy target related to the acquisition, less realized synergies, and only cash from domestic subsidiaries. Note that per the terms of the Credit Agreement, the quarterly Debt Covenant Leverage Ratio must be less than 3.75x through the fourth quarter of 2025 and less than 3.25x starting in the first fiscal quarter of 2026. The Debt Covenant Leverage Ratio would be 2.4x if calculated using the total cash and cash equivalents amount on the balance sheet as of April 30, 2024, and adjusting for the cash used to repurchase stock during the quarter.

Quanex's liquidity was $289.0 million as of April 30, 2025, consisting of $62.6 million in cash on hand plus availability under its Senior Secured Revolving Credit Facility due 2029, less letters of credit outstanding.

**Share Repurchases**

Quanex's Board authorized a $75 million share repurchase program in December of 2021. Repurchases under this program will be made in open market transactions or privately negotiated transactions, subject to market conditions, applicable legal requirements, and other relevant factors. The Company repurchased 1,259,407 shares of common stock for approximately $23.5 million at an average price of $18.66 per share during the three months ended April 30, 2025. As of April 30, 2025, approximately $35.6 million remained under the existing share repurchase authorization.

**Outlook**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Mr. Wilson stated, "Based on our results year-to-date, combined with our operational execution, cost synergy realization, recent demand trends, and conversations with our customers, we are once again reaffirming our guidance for fiscal 2025. On a consolidated basis for fiscal 2025, we continue to estimate that we will generate net sales of approximately $1.84 billion to $1.86 billion, which we expect will yield Adjusted EBITDA\* of $270 million to $280 million.

"The finance and accounting teams continue to work with our external auditors on re-segmenting the business and our goal is to report in the new operating segments this year."

\*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 related to net income.

**Conference Call and Webcast Information**

The Company has also scheduled a conference call for Friday, June 6, 2025 at 11:00 a.m. ET (10:00 a.m. CT) to discuss the release. A link to the live audio webcast will be available on Quanex's website at http://www.quanex.com in the Investors section under Presentations & Events.

Participants can pre-register for the conference call using the following link:

https://register-conf.media-server.com/register/BI5c78744cb292420a807e6c6762cb6343

Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, it is recommended that participants dial into the conference call ten minutes ahead of the scheduled start time. A replay will be available for a limited time on the Company's website at http://www.quanex.com in the Investors section under Presentations & Events.

**About Quanex** 

Quanex is a global manufacturer with core capabilities and broad applications across various end markets. The Company currently collaborates and partners with leading OEMs to provide innovative solutions in the window, door, solar, refrigeration, custom mixing, building access and cabinetry markets. Looking ahead, Quanex plans to leverage its material science expertise and process engineering to expand into adjacent markets.

**Non-GAAP Terminology Definitions and Disclaimers**

Adjusted Net Income (defined as net income further adjusted to exclude amortization of step-up for purchase price adjustments on inventory, transaction, advisory fees and reorganization costs, restructuring charges related to severance and disposal of software, amortization expense related to intangible assets, pension settlement refund and other net adjustments related to foreign currency transaction gain/loss and effective tax rates reflecting impacts of adjustments on a with and without basis) and Adjusted EPS are non-GAAP financial measures that Quanex believes provide a consistent basis for comparison between periods and more accurately reflects operational performance, as they are not influenced by certain income or expense items not affecting ongoing operations. EBITDA (defined as net income or loss before interest, taxes, depreciation and amortization and other, net), Adjusted EBITDA and LTM Adjusted EBITDA (defined as EBITDA further adjusted to exclude purchase price accounting inventory step-ups, transaction costs, certain severance charges, gain/loss on the sale of certain fixed assets, restructuring charges and asset impairment charges) are non-GAAP financial measures that the Company uses to measure operational performance and assist with financial decision-making. Net Debt is defined as total debt (outstanding balance on the revolving credit facility plus financial lease obligations) less cash and cash equivalents. The leverage ratio of Net Debt to LTM Adjusted EBITDA is a financial measure that the Company believes is useful to investors and financial analysts in evaluating Quanex's leverage. In addition, with certain limited adjustments, this leverage ratio is the basis for a key covenant in the Company's credit agreement.

Free Cash Flow is a non-GAAP measure calculated using cash provided by operating activities less capital expenditures. Quanex uses the Free Cash Flow metric to measure operational and cash management performance and assist with financial decision-making. Free Cash Flow is measured before application of certain contractual commitments (including capital lease obligations), and accordingly is not a true measure of the Company's residual cash flow available for discretionary expenditures. Quanex believes Free Cash Flow is useful to investors in understanding and evaluating the Company's financial and cash management performance.

Quanex believes that the presented non-GAAP measures provide a consistent basis for comparison between periods and will assist investors in understanding the Company's financial performance when comparing results to other investment opportunities. The presented non-GAAP measures may not be the same as those used by other companies. Quanex does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with U.S. GAAP.

**Forward Looking Statements**

Statements that use the words "estimated," "expect," "could," "should," "believe," "will," "might," or similar words reflecting future expectations or beliefs are forward-looking statements. The forward-looking statements include, but are not limited to, the following: impacts from public health issues (including pandemics) on the economy and the demand for Quanex's products, timing estimates or any other expectations related to the acquisition of Tyman, the Company's future operating results, future financial condition, future uses of cash and other expenditures, expenses and tax rates, expectations relating to Quanex's industry, and the Company's future growth, including any guidance discussed in this press release. The statements and guidance set forth in this release are based on current expectations. Actual results or events may differ materially from this release. For a complete discussion of factors that may affect Quanex's future performance, please refer to the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2024, and the Company's Quarterly Reports on Form 10-Q under the sections entitled "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors". Any forward-looking statements in this press release are made as of the date hereof, and Quanex undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CONDENSED CONSOLIDATED STATEMENTS OF INCOME**<br>(In thousands, except per share data)<br>(Unaudited) | **CONDENSED CONSOLIDATED STATEMENTS OF INCOME**<br>(In thousands, except per share data)<br>(Unaudited) | **CONDENSED CONSOLIDATED STATEMENTS OF INCOME**<br>(In thousands, except per share data)<br>(Unaudited) | **CONDENSED CONSOLIDATED STATEMENTS OF INCOME**<br>(In thousands, except per share data)<br>(Unaudited) | **CONDENSED CONSOLIDATED STATEMENTS OF INCOME**<br>(In thousands, except per share data)<br>(Unaudited) |
|  | **Three Months Ended April 30,** | **Three Months Ended April 30,** | **Six Months Ended April 30,** | **Six Months Ended April 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net sales | $452478 | $266201 | $852522 | $505356 |
| Cost of sales | 321096 | 199963 | 628824 | 387686 |
| Selling, general and administrative | 70333 | 34707 | 136983 | 67070 |
| Restructuring charges | 936 |  | 8840 |  |
| Depreciation and amortization | 19192 | 10894 | 43932 | 22046 |
| Operating income | 40921 | 20637 | 33943 | 28554 |
| Interest expense | (13940) | (950) | (28126) | (2018) |
| Other, net | (159) | 4 | 1070 | 1046 |
| Income before income taxes | 26822 | 19691 | 6887 | 27582 |
| Income tax expense | (6307) | (4314) | (1257) | (5956) |
| Net income | $20515 | $15377 | $5630 | $21626 |
| Earnings per common share, basic | $0.44 | $0.47 | $0.12 | $0.66 |
| Earnings per common share, diluted | $0.44 | $0.46 | $0.12 | $0.65 |
| Weighted average common shares outstanding: |  |  |  |  |
| Basic | 46483 | 32870 | 46753 | 32847 |
| Diluted | 46563 | 33103 | 46868 | 33076 |
| Cash dividends per share | $0.08 | $0.08 | $0.16 | $0.16 |

---

---

| | | |
|:---|:---|:---|
| **QUANEX BUILDING PRODUCTS CORPORATION**<br>**CONDENSED CONSOLIDATED BALANCE SHEETS**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**CONDENSED CONSOLIDATED BALANCE SHEETS**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**CONDENSED CONSOLIDATED BALANCE SHEETS**<br>(In thousands)<br>(Unaudited) |
|  | **April 30, 2025** | **October 31, 2024** |
| **ASSETS** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $62626 | $97744 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted Cash | 2171 | 5251 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 195264 | 197689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 279482 | 275550 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes receivable | 6108 | 5937 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid and other current assets | 42825 | 29097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 588476 | 611268 |
| Property, plant and equipment, net | 417104 | 402466 |
| Operating lease right-of-use assets | 149322 | 126715 |
| Deferred tax assets | 4049 | 3845 |
| Goodwill | 579110 | 574711 |
| Intangible assets, net | 567148 | 597909 |
| Other assets | 3057 | 2874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $2308266 | $2319788 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $112484 | $124404 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 91573 | 103623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable |  | 6620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current maturities of long-term debt | 26124 | 25745 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current operating lease liabilities | 14184 | 12475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 244365 | 272867 |
| Long-term debt | 746387 | 737198 |
| Noncurrent operating lease liabilities | 139955 | 117560 |
| Deferred income taxes | 163591 | 162304 |
| Other liabilities | 12305 | 19113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1306603 | 1309042 |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 512 | 513 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in-capital | 698238 | 701008 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 428483 | 430405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (27034) | (46428) |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock at cost | (98536) | (74752) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1001663 | 1010746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $2308266 | $2319788 |

---

---

| | | |
|:---|:---|:---|
| **QUANEX BUILDING PRODUCTS CORPORATION**<br>**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW**<br>(In thousands)<br>(Unaudited) |
|  | **Six Months Ended April 30,** | **Six Months Ended April 30,** |
|  | **2025** | **2024** |
| **Operating activities:** |  |  |
| &nbsp;&nbsp;Net income | $5630 | $21626 |
| &nbsp;&nbsp;Adjustments to reconcile net income to cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 43932 | 22046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 1825 | 1365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax | 1250 | (155) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 7243 | 162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in accounts receivable | 5322 | 10832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in inventory | (1333) | (3008) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in other current assets | (7828) | (1124) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in accounts payable | (14771) | (12619) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease in accrued liabilities | (14048) | (4602) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Decrease) increase in income taxes receivable | (5471) | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Decrease) increase in other long-term liabilities | (6268) | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 504 | 557 |
| Cash provided by operating activities | 15987 | 36945 |
| **Investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (26544) | (17183) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from disposition of capital assets | 376 | 93 |
| Cash used for investing activities | (26168) | (17090) |
| **Financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings under credit facilities | 125000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of credit facility borrowings | (117500) | (15000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of other long-term debt | (1888) | (954) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock dividends paid | (7552) | (5294) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issuance of common stock | 214 | 554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll tax paid to settle shares forfeited upon vesting of stock | (1400) | (1193) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of treasury stock | (27194) | - |
| Cash used for financing activities | (30320) | (21887) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash and cash equivalents | 2303 | (293) |
| Decrease in cash, cash equivalents and restricted cash | (38198) | (2325) |
| Cash, cash equivalents and restricted cash at beginning of period | 102995 | 58474 |
| Cash, cash equivalents and restricted cash at end of period | $64797 | $56149 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **QUANEX BUILDING PRODUCTS CORPORATION**<br>**FREE CASH FLOW AND NET DEBT RECONCILIATION**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**FREE CASH FLOW AND NET DEBT RECONCILIATION**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**FREE CASH FLOW AND NET DEBT RECONCILIATION**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**FREE CASH FLOW AND NET DEBT RECONCILIATION**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**FREE CASH FLOW AND NET DEBT RECONCILIATION**<br>(In thousands)<br>(Unaudited) |
| The following table reconciles the Company's calculation of Free Cash Flow, a non-GAAP measure, to its most directly comparable GAAP measure. The Company defines Free Cash Flow as cash provided by operating activities less capital expenditures. | The following table reconciles the Company's calculation of Free Cash Flow, a non-GAAP measure, to its most directly comparable GAAP measure. The Company defines Free Cash Flow as cash provided by operating activities less capital expenditures. | The following table reconciles the Company's calculation of Free Cash Flow, a non-GAAP measure, to its most directly comparable GAAP measure. The Company defines Free Cash Flow as cash provided by operating activities less capital expenditures. | The following table reconciles the Company's calculation of Free Cash Flow, a non-GAAP measure, to its most directly comparable GAAP measure. The Company defines Free Cash Flow as cash provided by operating activities less capital expenditures. | The following table reconciles the Company's calculation of Free Cash Flow, a non-GAAP measure, to its most directly comparable GAAP measure. The Company defines Free Cash Flow as cash provided by operating activities less capital expenditures. |
|  | **Three Months Ended April 30,** | **Three Months Ended April 30,** | **Six Months Ended April 30,** | **Six Months Ended April 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Cash provided by operating activities | $28497 | $33091 | $15987 | $36945 |
| Capital expenditures | (14920) | (7603) | (26544) | (17183) |
| **Free Cash Flow** | **$13577** | **$25488** | **($10557)** | **$19762** |
| The following table reconciles the Company's Net Debt which is defined as total debt principal of the Company plus finance lease obligations minus cash. | The following table reconciles the Company's Net Debt which is defined as total debt principal of the Company plus finance lease obligations minus cash. | The following table reconciles the Company's Net Debt which is defined as total debt principal of the Company plus finance lease obligations minus cash. |  |  |
|  | **As of April 30,** | **As of April 30,** |  |  |
|  | **2025** | **2024** |  |  |
| Term loan facility | $481205 | $0 |  |  |
| Revolving credit facility | 242500 |  |  |  |
| Finance lease obligations <sup>(1)</sup> | 61272 | 55217 |  |  |
| Total debt <sup>(2)</sup> | 784977 | 55217 |  |  |
| Less: Cash and cash equivalents | 62626 | 56149 |  |  |
| **Net Debt** | **$722351** | **($932)** |  |  |
| (1) Includes $57.4 million and $51.0 million in real estate lease liabilities considered finance leases under U.S. GAAP as of April 30 2025 and 2024, respectively. | (1) Includes $57.4 million and $51.0 million in real estate lease liabilities considered finance leases under U.S. GAAP as of April 30 2025 and 2024, respectively. | (1) Includes $57.4 million and $51.0 million in real estate lease liabilities considered finance leases under U.S. GAAP as of April 30 2025 and 2024, respectively. |  |  |
| (2) Excludes outstanding letters of credit. |  |  |  |  |

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|:---|:---|:---|:---|:---|:---|
| **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>**LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>**LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>**LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>**LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>**LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>**LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION**<br>(In thousands, except per share data)<br>(Unaudited) |
| **Reconciliation of Last Twelve Months Adjusted EBITDA** | **Three Months Ended<br>April 30, 2025** | **Three Months Ended<br>January 31, 2025** | **Three Months Ended<br>October 31, 2024** | **Three Months Ended<br>July 31, 2024** | **Total** |
|  | **Reconciliation** | **Reconciliation** | **Reconciliation** | **Reconciliation** | **Reconciliation** |
| Net income (loss) as reported | $20515 | $(14885) | $(13917) | $25350 | $17063 |
| Income tax expense (benefit) | 6307 | (5050) | (3621) | 6688 | 4324 |
| Other, net | 159 | (1229) | 2671 | (9474) | (7873) |
| Interest expense | 13940 | 14186 | 17697 | 878 | 46701 |
| Depreciation and amortization | 19192 | 24740 | 27329 | 10953 | 82214 |
| EBITDA | 60113 | 17762 | 30159 | 34395 | 142429 |
| Cost of sales <sup>(1)</sup> |  |  | 887 | 1507 | 2394 |
| Selling, general and administrative <sup>(1),(2),(3)</sup> | 864 | 12876 | 50004 | 6133 | 69877 |
| Restructuring charges <sup>(4)</sup> | 936 | 7904 | - | - | 8840 |
| Adjusted EBITDA | $61913 | $38542 | $81050 | $42035 | $223540 |
| (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. |
| (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. |
| (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. |
| (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. |

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**NON-GAAP FINANCIAL MEASURE DISCLOSURE**<br>(In thousands, except per share data)<br>(Unaudited) |
| **Reconciliation of Adjusted Net Income and Adjusted EPS** | **Three Months Ended<br>April 30, 2025** | **Three Months Ended<br>April 30, 2025** |  | **Three Months Ended<br>April 30, 2024** | **Three Months Ended<br>April 30, 2024** |  | **Six Months Ended<br>April 30, 2025** | **Six Months Ended<br>April 30, 2025** |  | **Six Months Ended<br>April 30, 2024** | **Six Months Ended<br>April 30, 2024** |  |
|  | **Net Income** | **Diluted EPS** |  | **Net Income** | **Diluted EPS** |  | **Net Income** | **Diluted EPS** |  | **Net Income** | **Diluted EPS** |  |
| Net income as reported | $20515 | $0.44 |  | $15377 | $0.46 |  | $5630 | $0.12 |  | $21626 | $0.65 |  |
| Net income reconciling items from below | 7372 | $0.16 |  | 8664 | $0.27 |  | 31218 | $0.67 |  | 10680 | $0.33 |  |
| Adjusted net income and adjusted EPS | $27887 | $0.60 |  | $24041 | $0.73 |  | $36848 | $0.79 |  | $32306 | $0.98 |  |
| **Reconciliation of Adjusted EBITDA** | **Three Months Ended<br>April 30, 2025** | **Three Months Ended<br>April 30, 2025** |  | **Three Months Ended<br>April 30, 2024** | **Three Months Ended<br>April 30, 2024** |  | **Six Months Ended<br>April 30, 2025** | **Six Months Ended<br>April 30, 2025** |  | **Six Months Ended<br>April 30, 2024** | **Six Months Ended<br>April 30, 2024** |  |
|  | **Reconciliation** |  |  | **Reconciliation** |  |  | **Reconciliation** |  |  | **Reconciliation** |  |  |
| Net income as reported | $20515 |  |  | $15377 |  |  | $5630 |  |  | $21626 |  |  |
| Income tax (benefit) expense | 6307 |  |  | 4314 |  |  | 1257 |  |  | 5956 |  |  |
| Other, net | 159 |  |  | (4) |  |  | (1070) |  |  | (1046) |  |  |
| Interest expense | 13940 |  |  | 950 |  |  | 28126 |  |  | 2018 |  |  |
| Depreciation and amortization | 19192 |  |  | 10894 |  |  | 43932 |  |  | 22046 |  |  |
| EBITDA | 60113 |  |  | 31531 |  |  | 77875 |  |  | 50600 |  |  |
| EBITDA reconciling items from below | 1800 |  |  | 8493 |  |  | 22579 |  |  | 8698 |  |  |
| Adjusted EBITDA | $61913 |  |  | $40024 |  |  | $100454 |  |  | $59298 |  |  |
| **Reconciling Items** | **Three Months Ended<br>April 30, 2025** | **Three Months Ended<br>April 30, 2025** |  | **Three Months Ended<br>April 30, 2024** | **Three Months Ended<br>April 30, 2024** |  | **Six Months Ended<br>April 30, 2025** | **Six Months Ended<br>April 30, 2025** |  | **Six Months Ended<br>April 30, 2024** | **Six Months Ended<br>April 30, 2024** |  |
|  | **Income Statement** | **Reconciling Items** |  | **Income Statement** | **Reconciling Items** |  | **Income Statement** | **Reconciling Items** |  | **Income Statement** | **Reconciling Items** |  |
| Net sales | $452478 | $- |  | $266201 | $- |  | $852522 | $- |  | $505356 | $- |  |
| Cost of sales | 321096 |  |  | 199963 | (631) | *(1)* | 628824 |  |  | 387686 | (631) | *(1)* |
| Selling, general and administrative | 70333 | (864) | *(2)* | 34707 | (7862) | *(1),(2)* | 136983 | (13739) | *(2),(3)* | 67070 | (8067) | *(1),(2)* |
| Restructuring charges | 936 | (936) | *(4)* | - | - |  | 8840 | (8840) | *(4)* | - | - |  |
| EBITDA | 60113 | 1800 |  | 31531 | 8493 |  | 77875 | 22579 |  | 50600 | 8698 |  |
| Depreciation and amortization | 19192 | (6451) | *(5)* | 10894 | (2956) | *(5)* | 43932 | (17101) | *(5)* | 22046 | (6185) | *(5)* |
| Operating income | 40921 | 8251 |  | 20637 | 11449 |  | 33943 | 39680 |  | 28554 | 14883 |  |
| Interest expense | (13940) |  |  | (950) |  |  | (28126) |  |  | (2018) |  |  |
| Other, net | (159) | 1003 | *(6)* | 4 | (92) | *(6)* | 1070 | 831 | *(6)* | 1046 | (847) | *(6)* |
| Income before income taxes | 26822 | 9254 |  | 19691 | 11357 |  | 6887 | 40511 |  | 27582 | 14036 |  |
| Income tax expense | (6307) | (1882) | *(7)* | (4314) | (2693) | *(7)* | (1257) | (9293) | *(7)* | (5956) | (3356) | *(7)* |
| Net income | $20515 | $7372 |  | $15377 | $8664 |  | $5630 | $31218 |  | $21626 | $10680 |  |
| Diluted earnings per share | $0.44 |  |  | $0.46 |  |  | $0.12 |  |  | $0.65 |  |  |
| (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. | (1) Expense (gain) related to plant closure. |  |
| (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. | (2) Transaction, advisory fees, and reorganization costs. |  |
| (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. | (3) Amortization of step-up for purchase price adjustments on inventory. |  |
| (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. | (4) Restructuring charges related to severeance and disposal of software. |  |
| (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. | (5) Amortization expense related to intangible assets. |  |
| (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). | (6) Pension settlement refund and foreign currency transaction losses (gains). |  |
| (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. | (7) Tax impact of net income reconciling items. |  |

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|:---|:---|:---|:---|:---|:---|:---|
| **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SELECTED SEGMENT DATA**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SELECTED SEGMENT DATA**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SELECTED SEGMENT DATA**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SELECTED SEGMENT DATA**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SELECTED SEGMENT DATA**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SELECTED SEGMENT DATA**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SELECTED SEGMENT DATA**<br>(In thousands)<br>(Unaudited) |
| This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments. | This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments. | This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments. | This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments. | This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments. | This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments. | This table provides gross margin, operating income (loss), EBITDA, and Adjusted EBITDA by reportable segment. Non-operating expense and income tax expense are not allocated to the reportable segments. |
|  | **NA Fenestration** | **EU Fenestration** | **NA Cabinet Components** | **Tyman** | **Unallocated Corp & Other** | **Total** |
| **Three months ended April 30, 2025** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net sales | $151026 | $61257 | $51237 | $190107 | $(1149) | $452478 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of sales | 113760 | 39001 | 42405 | 126743 | (813) | 321096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross Margin | 37266 | 22256 | 8832 | 63364 | (336) | 131382 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Gross Margin %* | *24.7%* | *36.3%* | *17.2%* | *33.3%* |  | *29.0%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative <sup>(1)</sup> | 15938 | 9038 | 5725 | 37271 | 2361 | 70333 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges |  |  |  | 936 |  | 936 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 4667 | 2659 | 3015 | 8775 | 76 | 19192 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating income (loss) | 16661 | 10559 | 92 | 16382 | (2773) | 40921 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 4667 | 2659 | 3015 | 8775 | 76 | 19192 |
| &nbsp;&nbsp;&nbsp;&nbsp;EBITDA | 21328 | 13218 | 3107 | 25157 | (2697) | 60113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction, advisory fees, and reorganization costs |  |  |  | 675 | 189 | 864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges related to severance and disposal of software | - | - | - | 936 | - | 936 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBITDA | $21328 | $13218 | $3107 | $26768 | $(2508) | $61913 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Adjusted EBITDA Margin %* | *14.1%* | *21.6%* | *6.1%* | *14.1%* |  | *13.7%* |
| **Three months ended April 30, 2024** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net sales | $159774 | $56583 | $51078 | $- | $(1234) | $266201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of sales | 122261 | 35694 | 42624 | - | (616) | 199963 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross Margin | 37513 | 20889 | 8454 |  | (618) | 66238 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Gross Margin %* | *23.5%* | *36.9%* | *16.6%* |  |  | *24.9%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative <sup>(1)</sup> | 13730 | 7873 | 5066 |  | 8038 | 34707 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 5218 | 2538 | 3082 | - | 56 | 10894 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating income (loss) | 18565 | 10478 | 306 |  | (8712) | 20637 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 5218 | 2538 | 3082 | - | 56 | 10894 |
| &nbsp;&nbsp;&nbsp;&nbsp;EBITDA | 23783 | 13016 | 3388 |  | (8656) | 31531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expense related to plant closure (Cost of sales) | 631 |  |  |  |  | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expense related to plant closure (SG&A) | 978 |  |  |  |  | 978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction and advisory fees | - | - | - | - | 6884 | 6884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBITDA | $25392 | $13016 | $3388 | $- | $(1772) | $40024 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Adjusted EBITDA Margin %* | *15.9%* | *23.0%* | *6.6%* |  |  | *15.0%* |
| **Six months ended April 30, 2025** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net sales | $285359 | $109728 | $95047 | $365783 | $(3395) | $852522 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of sales | 220327 | 69638 | 81821 | 259539 | (2501) | 628824 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross Margin | 65032 | 40090 | 13226 | 106244 | (894) | 223698 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Gross Margin %* | *22.8%* | *36.5%* | *13.9%* | *29.0%* |  | *26.2%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative <sup>(1)</sup> | 32071 | 16959 | 10992 | 71649 | 5312 | 136983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges |  |  |  | 8840 |  | 8840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 9446 | 5269 | 6024 | 23038 | 155 | 43932 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating income (loss) | 23515 | 17862 | (3790) | 2717 | (6361) | 33943 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 9446 | 5269 | 6024 | 23038 | 155 | 43932 |
| &nbsp;&nbsp;&nbsp;&nbsp;EBITDA | 32961 | 23131 | 2234 | 25755 | (6206) | 77875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of step-up for purchase price adjustments on inventory |  |  |  | 9007 |  | 9007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction, advisory fees, and reorganization costs |  |  |  | 2142 | 2590 | 4732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges related to severance and disposal of software | - | - | - | 8840 | - | 8840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBITDA | $32961 | $23131 | $2234 | $45744 | $(3616) | $100454 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Adjusted EBITDA Margin %* | *11.6%* | *21.1%* | *2.4%* | *12.5%* |  | *11.8%* |
| **Six months ended April 30, 2024** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net sales | $307769 | $106020 | $94215 | $- | $(2648) | $505356 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of sales | 240629 | 67397 | 81367 | - | (1707) | 387686 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross Margin | 67140 | 38623 | 12848 |  | (941) | 117670 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Gross Margin %* | *21.8%* | *36.4%* | *13.6%* |  |  | *23.3%* |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative <sup>(1)</sup> | 29640 | 15618 | 10192 |  | 11620 | 67070 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 10693 | 5096 | 6147 | - | 110 | 22046 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating income (loss) | 26807 | 17909 | (3491) |  | (12671) | 28554 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 10693 | 5096 | 6147 | - | 110 | 22046 |
| &nbsp;&nbsp;&nbsp;&nbsp;EBITDA | 37500 | 23005 | 2656 |  | (12561) | 50600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expense related to plant closure (Cost of sales) | 631 |  |  |  |  | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expense related to plant closure (SG&A) | 978 |  |  |  |  | 978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction and advisory fees | - | - | - | - | 7089 | 7089 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBITDA | $39109 | $23005 | $2656 | $- | $(5472) | $59298 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Adjusted EBITDA Margin %* | *12.7%* | *21.7%* | *2.8%* |  |  | *11.7%* |
| (1) Includes stock-based compensation expense for the three and six months ended April 30, 2025, respectively of $0.6 million and $1.8 million and $1.5 million and $4.1 million for the comparable prior year periods. | (1) Includes stock-based compensation expense for the three and six months ended April 30, 2025, respectively of $0.6 million and $1.8 million and $1.5 million and $4.1 million for the comparable prior year periods. | (1) Includes stock-based compensation expense for the three and six months ended April 30, 2025, respectively of $0.6 million and $1.8 million and $1.5 million and $4.1 million for the comparable prior year periods. | (1) Includes stock-based compensation expense for the three and six months ended April 30, 2025, respectively of $0.6 million and $1.8 million and $1.5 million and $4.1 million for the comparable prior year periods. | (1) Includes stock-based compensation expense for the three and six months ended April 30, 2025, respectively of $0.6 million and $1.8 million and $1.5 million and $4.1 million for the comparable prior year periods. | (1) Includes stock-based compensation expense for the three and six months ended April 30, 2025, respectively of $0.6 million and $1.8 million and $1.5 million and $4.1 million for the comparable prior year periods. | (1) Includes stock-based compensation expense for the three and six months ended April 30, 2025, respectively of $0.6 million and $1.8 million and $1.5 million and $4.1 million for the comparable prior year periods. |

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| | | | | |
|:---|:---|:---|:---|:---|
| **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SALES ANALYSIS**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SALES ANALYSIS**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SALES ANALYSIS**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SALES ANALYSIS**<br>(In thousands)<br>(Unaudited) | **QUANEX BUILDING PRODUCTS CORPORATION**<br>**SALES ANALYSIS**<br>(In thousands)<br>(Unaudited) |
|  | **Three Months Ended April 30,** | **Three Months Ended April 30,** | **Six Months Ended April 30,** | **Six Months Ended April 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **NA Fenestration:** |  |  |  |  |
| United States - fenestration | $112261 | $119646 | $212690 | $231280 |
| International - fenestration | 8054 | 7465 | 13913 | 13609 |
| United States - non-fenestration | 26751 | 27532 | 49956 | 53323 |
| International - non-fenestration | 3960 | 5131 | 8800 | 9557 |
|  | $151026 | $159774 | $285359 | $307769 |
| **EU Fenestration: <sup>(1)</sup>** |  |  |  |  |
| International - fenestration | $50687 | $46968 | $92743 | $88719 |
| International - non-fenestration | 10570 | 9615 | 16985 | 17301 |
|  | $61257 | $56583 | $109728 | $106020 |
| **NA Cabinet Components:** |  |  |  |  |
| United States - fenestration | $3507 | $3737 | $6959 | $7412 |
| United States - non-fenestration | 47364 | 46990 | 87427 | 86169 |
| International - non-fenestration | 366 | 351 | 661 | 634 |
|  | $51237 | $51078 | $95047 | $94215 |
| **Tyman:** |  |  |  |  |
| United States - fenestration | $113950 | $- | $219541 | $- |
| International - fenestration | 75547 |  | 144829 |  |
| United States - non-fenestration | 610 |  | 1395 |  |
| International - non-fenestration | - | - | 18 | - |
|  | $190107 | $- | $365783 | $- |
| **Unallocated Corporate & Other:** |  |  |  |  |
| Eliminations | $(1149) | $(1234) | $(3395) | $(2648) |
|  | $(1149) | $(1234) | $(3395) | $(2648) |
| **Net Sales** | $452478 | $266201 | $852522 | $505356 |
| (1) Reflects an increase of $0.2 million in revenue associated with foreign currency exchange rate impacts for the three and six months ended April 30, 2025, respectively. | (1) Reflects an increase of $0.2 million in revenue associated with foreign currency exchange rate impacts for the three and six months ended April 30, 2025, respectively. | (1) Reflects an increase of $0.2 million in revenue associated with foreign currency exchange rate impacts for the three and six months ended April 30, 2025, respectively. | (1) Reflects an increase of $0.2 million in revenue associated with foreign currency exchange rate impacts for the three and six months ended April 30, 2025, respectively. | (1) Reflects an increase of $0.2 million in revenue associated with foreign currency exchange rate impacts for the three and six months ended April 30, 2025, respectively. |

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