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In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 77.8% and rose 86% year over year. Net sales also topped the consensus mark by 12.2% and increased 19.4% year over year.
NX’s earnings topped the consensus mark in six of the last seven quarters.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share remained stable at 62 cents in the past 60 days. The estimated figure indicates a 47.6% increase from the year-ago quarter’s level. The consensus mark for net sales is pegged at $301.1 million, suggesting a 7.6% increase from the year-ago reported figure.
Quanex Building Products Corporation Price and EPS Surprise
Quanex’s fiscal third-quarter revenues are expected to have improved primarily on solid demand for the company’s products and pass-through pricing strategy. Also, the company’s robust business strategy and cost-containment efforts are likely to have driven growth in the quarter to be reported.
Quanex, the manufacturer of window and cabinet components, has been witnessing solid demand for its products, mainly backed by strong North American residential housing market. The company is likely to have witnessed revenue growth in the North American Fenestration, North American Cabinet Components and European Fenestration segments in the fiscal third quarter.
The Zacks Consensus Estimate for NA Fenestration’ sales is pegged at $164 million, which indicates growth of 10.8% year over year. The same for EU Fenestration sales is currently pegged at $74 million, which suggests an improvement of 4.2% from the prior-year quarter’s levels. The consensus mark for the NA Cabinet Components segment sales is currently pegged at $65 million, suggesting year-over-year growth of 4.8%.
However, increased inflationary pressures on most of its key raw material inputs and labor remain potent headwinds for the company.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Quanex this time around. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here.
Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Arcosa, Inc. (ACA - Free Report) , currently sporting a Zacks Rank #1, is a manufacturer of infrastructure-related products and services, serving construction, energy and transportation markets.
ACA’s expected earnings growth rate for 2022 is 7.8%. The Zacks Consensus Estimate for current-year earnings has improved 13.7% over the past 30 days.
Gibraltar Industries, Inc. (ROCK - Free Report) , currently carrying a Zacks Rank of 2, is benefiting from its three-pillar value creation strategy, the strong housing market and solid demand for legacy and TerraSmart businesses.
ROCK’s expected earnings growth rate for 2022 is 18.7%. The Zacks Consensus Estimate for current-year earnings has remained stable over the past 60 days.
Primoris Services Corporation (PRIM - Free Report) , a Zacks Rank #2 company, is a specialty contractor company operating in the United States and Canada. A robust backlog of more than $4 billion and solid contract awards in the Energy/Renewables and Utilities segments imply incredible momentum in the future despite supply-chain and permitting challenges. Utility-scale solar projects continued to drive progress in the Energy/Renewables segment.
PRIM’s earnings for 2022 are expected to grow 18.4%. The Zacks Consensus Estimate for current-year earnings improved 4% in the past 30 days.
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Quanex (NX) to Report Q3 Earnings: What's in the Store?
Quanex Building Products Corporation (NX - Free Report) is scheduled to report third-quarter fiscal 2022 results on Sep 1, after the closing bell.
In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 77.8% and rose 86% year over year. Net sales also topped the consensus mark by 12.2% and increased 19.4% year over year.
NX’s earnings topped the consensus mark in six of the last seven quarters.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share remained stable at 62 cents in the past 60 days. The estimated figure indicates a 47.6% increase from the year-ago quarter’s level. The consensus mark for net sales is pegged at $301.1 million, suggesting a 7.6% increase from the year-ago reported figure.
Quanex Building Products Corporation Price and EPS Surprise
Quanex Building Products Corporation price-eps-surprise | Quanex Building Products Corporation Quote
Key Factors to Note
Quanex’s fiscal third-quarter revenues are expected to have improved primarily on solid demand for the company’s products and pass-through pricing strategy. Also, the company’s robust business strategy and cost-containment efforts are likely to have driven growth in the quarter to be reported.
Quanex, the manufacturer of window and cabinet components, has been witnessing solid demand for its products, mainly backed by strong North American residential housing market. The company is likely to have witnessed revenue growth in the North American Fenestration, North American Cabinet Components and European Fenestration segments in the fiscal third quarter.
The Zacks Consensus Estimate for NA Fenestration’ sales is pegged at $164 million, which indicates growth of 10.8% year over year. The same for EU Fenestration sales is currently pegged at $74 million, which suggests an improvement of 4.2% from the prior-year quarter’s levels. The consensus mark for the NA Cabinet Components segment sales is currently pegged at $65 million, suggesting year-over-year growth of 4.8%.
However, increased inflationary pressures on most of its key raw material inputs and labor remain potent headwinds for the company.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Quanex this time around. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here.
Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Otis carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Arcosa, Inc. (ACA - Free Report) , currently sporting a Zacks Rank #1, is a manufacturer of infrastructure-related products and services, serving construction, energy and transportation markets.
ACA’s expected earnings growth rate for 2022 is 7.8%. The Zacks Consensus Estimate for current-year earnings has improved 13.7% over the past 30 days.
Gibraltar Industries, Inc. (ROCK - Free Report) , currently carrying a Zacks Rank of 2, is benefiting from its three-pillar value creation strategy, the strong housing market and solid demand for legacy and TerraSmart businesses.
ROCK’s expected earnings growth rate for 2022 is 18.7%. The Zacks Consensus Estimate for current-year earnings has remained stable over the past 60 days.
Primoris Services Corporation (PRIM - Free Report) , a Zacks Rank #2 company, is a specialty contractor company operating in the United States and Canada. A robust backlog of more than $4 billion and solid contract awards in the Energy/Renewables and Utilities segments imply incredible momentum in the future despite supply-chain and permitting challenges. Utility-scale solar projects continued to drive progress in the Energy/Renewables segment.
PRIM’s earnings for 2022 are expected to grow 18.4%. The Zacks Consensus Estimate for current-year earnings improved 4% in the past 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.