Net Sales Growth of ~44% Year-Over-Year
$75 Million of Debt Repaid in Fiscal 2025
Cash Provided by Operating Activities Increased ~86% Year-Over-Year
Healthy Balance Sheet and Strong Liquidity
Integration of Transformative Acquisition Substantially Complete and Thesis Remains Intact

HOUSTON, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Quanex Building Products Corporation (NYSE:NX) (“Quanex” or the “Company”) today announced its results for the three months and twelve months ended October 31, 2025.

The Company reported the following selected financial results:

	Three Months Ended October 31,		Twelve Months Ended October 31,
($ in millions, except per share data)	2025	2024	2025	2024
Net Sales	$489.8	$492.2	$1,837.6	$1,277.9
Gross Margin	$137.6	$117.1	$499.2	$305.6
Gross Margin %	28.1%	23.8%	27.2%	23.9%
Net income (loss)	$19.6	($13.9)	($250.8)	$33.1
Diluted EPS	$0.43	($0.30)	($5.43)	$0.90

Adjusted Net Income	$38.0	$38.5	$106.4	$97.5
Adjusted Diluted EPS	$0.83	$0.82	$2.30	$2.66
Adjusted EBITDA	$70.9	$81.1	$242.9	$182.4
Adjusted EBITDA Margin %	14.5%	16.5%	13.2%	14.3%

Cash Provided by Operating Activities	$88.3	$5.5	$164.9	$88.8
Free Cash Flow	$66.6	($8.2)	$102.3	$51.7

(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 fiscal 2025 can be summarized by the successful integration of Tyman and the re-segmentation of our operating and reporting structure to align with our long-term strategic objectives, all while navigating a challenging macroeconomic environment. We believe the new segmentation represents a critical step in advancing our long-term Profitable Growth strategy and provides a solid framework to drive future revenue and margin expansion, which is consistent with the original thesis for the Tyman acquisition. Inflationary pressures, political instability, high interest rates, tariff uncertainty, housing affordability issues, and geopolitical tensions collectively weakened consumer confidence around the world, causing our end markets to decline meaningfully as compared to 2024. Despite these headwinds, we performed well and achieved another record year of safety performance, with both recordable incident and severity rates reaching historic lows.

“We continue to be encouraged by the overall resilience of the business in the current environment, demonstrated by our strong cash flow, which enabled us to repay a total of $75 million in bank debt in 2025. Our balance sheet remains healthy, and our liquidity improved further during the fourth quarter of 2025. While the integration of the Tyman business is substantially complete, we still believe there is a path to realizing approximately $45 million in cost synergies over time, above our initial projection of $30 million, which has been fully realized. In addition, we have made significant progress towards resolving the isolated operational issue at one of our window and door hardware plants in Mexico and we anticipate that the plant will be fully stabilized in the first half of fiscal 2026. Looking ahead, we continue to be optimistic about our prospects for profitable growth and value creation.”

Fourth Quarter and Fiscal 2025 Results Summary

Quanex reported net sales of $489.8 million during the three months ended October 31, 2025, which represents a decrease of 0.5% compared to $492.2 million for the same period of 2024, mainly due to lower volume. The Company reported net sales of $1.84 billion during the twelve months ended October 31, 2025, which represents an increase of 43.8% compared to $1.28 billion for the same period of 2024. The increase for the full year was driven by the contribution from the Tyman acquisition that closed on August 1, 2024. In its Hardware Solutions segment, Quanex reported an increase of 1.4% in net sales for the fourth quarter of 2025, mostly due to foreign exchange and tariff pass-throughs, and an increase of 96.7% in net sales for the full year. In its Extruded Solutions segment, Quanex reported a decrease of 6.4% in net sales for the fourth quarter of 2025, driven by lower volumes, and an increase of 15.5% in net sales for the full year. For its Custom Solutions segment, the Company reported an increase of 2.1% in net sales for the fourth quarter of 2025, largely due to improved pricing, and an increase of 25.5% in net sales for the full year. (See Sales Analysis table for additional information)

On a consolidated basis, the decrease in adjusted earnings for the fourth quarter of 2025 was mainly due to lower volumes related to ongoing macroeconomic uncertainty coupled with low consumer confidence and operational challenges related to Quanex’s window and door hardware plant in Monterrey, Mexico. The increase in adjusted earnings for the full year 2025, was primary attributable to the contribution from the Tyman acquisition combined with the realization of related cost synergies.

Balance Sheet & Liquidity Update

As of October 31, 2025, the Company had total debt of $703.9 million and Quanex’s leverage ratio of Net Debt to LTM Adjusted EBITDA was unchanged at 2.6x, compared to the prior quarter. As of October 31, 2025, Quanex reported a LTM Net Loss of $250.8 million, mainly due to the non-cash goodwill impairment reported in the third quarter, and LTM Adjusted EBITDA of $242.9 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 Company’s liquidity increased to $372.4 million as of October 31, 2025, consisting of $76.0 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 199,712 shares of common stock for approximately $3.1 million at an average price of $15.58 per share during the three months ended October 31, 2025. Quanex repurchased 1,709,119 shares of common stock for approximately $32.4 million at an average price of $18.93 per share during the twelve months ended October 31, 2025. As of October 31, 2025, approximately $30.5 million remained under the existing share repurchase authorization.

Outlook

Mr. Wilson stated, “Our long-term view continues to be favorable as the underlying fundamentals for the residential housing market remain positive. We enter fiscal 2026 with a cautious outlook due to the ongoing macroeconomic challenges, but we are optimistic that demand for our products will improve as consumer confidence is restored over time. Our current view is that fiscal 2026 could be flat compared to fiscal 2025 from a revenue and EBITDA perspective, with puts and takes, but the first half of 2026 may be more challenged than the first half of 2025, which would imply a somewhat improved second half year-over-year. Having said that, and consistent with the last few years, based on current macro indicators, recent conversations with our customers, limited transparency, and varying opinions on the macroeconomic outlook for 2026, we are again taking a measured approach to guidance. We believe it would be premature to give official guidance at this time and intend to re-visit guidance for 2026 when we report earnings for the first quarter. As macroeconomic uncertainty subsides and consumer confidence improves, we believe our team is well positioned to capitalize on pent-up demand. In the meantime, we will stay focused on the things that we can control, with an emphasis on generating cash to continue paying down debt and opportunistically repurchasing our stock.”

Conference Call and Webcast Information

The Company has also scheduled a conference call for Friday, December 12, 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/BI74e5fd99c2e14c3896a48692a347cd12

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, asset impairment charges, 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

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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: the Company’s ability to resolve an isolated operational issue at its window and door hardware plant located in Monterrey, Mexico, timing estimates or any other expectations related to the acquisition of Tyman, Quanex’s future operating results, future financial condition, future uses of cash and other expenditures, expenses and tax rates, expectations relating to the Company’s industry, and Quanex’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. Therefore, you should not rely on any of these forward-looking statements. For a complete discussion of factors that may affect the Company’s future performance, please refer to Quanex’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, whether written or oral, to reflect new information, developments or events.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) (Unaudited)

	Three Months Ended October 31,						Twelve Months Ended October 31,
		2025			2024			2025			2024

Net sales	$	489,846		$	492,161		$	1,837,641		$	1,277,862
Cost of sales		352,284			375,111			1,338,413			972,238
Selling, general and administrative		69,008			86,891			277,261			190,470
Restructuring (credit) charges		(16	)		-			10,191			-
Depreciation and amortization		25,630			27,329			103,444			60,328
Goodwill impairment charges		-			-			302,284			-
Operating income (loss)		42,940			2,830			(193,952	)		54,826
Interest expense		(13,468	)		(17,697	)		(55,812	)		(20,593	)
Other, net		5,246			(2,671	)		7,171			7,849
Income (loss) before income taxes		34,718			(17,538	)		(242,593	)		42,082
Income tax (expense) benefit		(15,147	)		3,621			(8,213	)		(9,023	)
Net income (loss)	$	19,571		$	(13,917	)	$	(250,806	)	$	33,059

Earnings (loss) per common share, basic	$	0.43		$	(0.30	)	$	(5.43	)	$	0.91
Earnings (loss) per common share, diluted	$	0.43		$	(0.30	)	$	(5.43	)	$	0.90

Weighted average common shares outstanding:
Basic		45,502			47,015			46,170			36,416
Diluted		45,593			47,015			46,170			36,648

Cash dividends per share	$	0.08		$	0.08		$	0.32		$	0.32

QUANEX BUILDING PRODUCTS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)

	October 31, 2025			October 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	76,018		$	97,744
Restricted Cash		2,100			5,251
Accounts receivable, net		205,384			197,689
Inventories		254,122			275,550
Income taxes receivable		-			5,937
Prepaid assets		32,387			23,419
Other current assets		3,764			5,678
Total current assets		573,775			611,268
Property, plant and equipment, net		411,591			402,466
Operating lease right-of-use assets		154,866			126,715
Deferred tax assets		2,706			3,845
Goodwill		271,346			574,711
Intangible assets, net		549,137			597,909
Other assets		4,812			2,874
Total assets	$	1,968,233		$	2,319,788

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	131,307		$	124,404
Accrued liabilities		95,155			103,623
Income taxes payable		12,076			6,620
Current maturities of long-term debt		27,561			25,745
Current operating lease liabilities		15,446			12,475
Total current liabilities		281,545			272,867
Long-term debt		665,268			737,198
Noncurrent operating lease liabilities		145,459			117,560
Deferred income taxes		135,993			162,304
Other liabilities		13,789			19,113
Total liabilities		1,242,054			1,309,042
Stockholders’ equity:
Common stock		512			513
Additional paid-in-capital		700,029			701,008
Retained earnings		164,710			430,405
Accumulated other comprehensive loss		(35,439	)		(46,428	)
Treasury stock at cost		(103,633	)		(74,752	)
Total stockholders’ equity		726,179			1,010,746
Total liabilities and stockholders' equity	$	1,968,233		$	2,319,788

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (In thousands) (Unaudited)

	Twelve Months Ended October 31,
		2025			2024
Operating activities:
Net (loss) income	$	(250,806	)	$	33,059
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Depreciation and amortization		103,444			60,328
Loss (gain) on disposition of capital assets		613			(5,218	)
Stock-based compensation		3,685			2,952
Deferred income tax		(18,535	)		(15,336	)
Goodwill impairment charge		302,284			-
Charge for deferred loan costs and debt discount		-			3,469
Gain on deal contingent foreign exchange forward currency contract		-			(6,512	)
Restructuring charges		4,561			-
Other, net		7,114			4,495
Changes in assets and liabilities:
(Increase) decrease in accounts receivable		(6,878	)		973
Decrease in inventory		23,553			33,484
(Increase) decrease in other current assets		(3,653	)		4,297
Increase (decrease) in accounts payable		3,313			(35,824	)
(Decrease) increase in accrued liabilities		(9,657	)		6,250
Increase in current income taxes payable		11,108			9,139
Decrease in other long-term liabilities		(4,693	)		(7,155	)
Other, net		(556	)		411
Cash provided by operating activities		164,897			88,812
Investing activities:
Business acquisition		-			(398,554	)
Capital expenditures		(62,642	)		(37,086	)
Proceeds from disposition of capital assets		634			15,046
Cash used for investing activities		(62,008	)		(420,594	)
Financing activities:
Borrowings under credit facilities		190,000			785,000
Repayments of credit facility borrowings		(265,000	)		(83,750	)
Debt issuance costs		-			(13,808	)
Repayments of other long-term debt		(4,045	)		(296,206	)
Common stock dividends paid		(14,889	)		(11,972	)
Issuance of common stock		214			573
Proceeds from deal contingent foreign exchange forward currency contract		-			6,512
Payroll tax paid to settle shares forfeited upon vesting of stock		(1,400	)		(1,193	)
Purchase of treasury stock		(32,360	)		-
Cash (used for) provided by financing activities		(127,480	)		385,156
Effect of exchange rate changes on cash and cash equivalents		(286	)		(8,853	)
(Decrease) Increase in cash, cash equivalents and restricted cash		(24,877	)		44,521
Cash, cash equivalents and restricted cash at beginning of period		102,995			58,474
Cash, cash equivalents and restricted cash at end of period	$	78,118		$	102,995

QUANEX BUILDING PRODUCTS CORPORATION FREE CASH FLOW AND NET DEBT RECONCILIATION (In thousands) (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.

	Three Months Ended October 31,				Twelve Months Ended October 31,
	2025		2024		2025		2024
Cash provided by operating activities	$88,254		$5,479		164,897		$88,812
Capital expenditures	(21,646	)	(13,651	)	(62,642	)	(37,086	)
Free Cash Flow	$66,608		($8,172	)	102,255		$51,726


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 October 31,
	2025		2024
Term loan facility	$468,750		$493,750
Revolving credit facility	172,500		222,500
Finance lease obligations ⁽¹⁾	62,619		60,676
Total debt ⁽²⁾	703,869		776,926
Less: Cash and cash equivalents	76,018		97,744
Net Debt	627,851		679,182

(1) Includes $56.4 million and $50.3 million in real estate lease liabilities considered finance leases under U.S. GAAP as of October 31, 2025 and 2024, respectively.
(2) Excludes outstanding letters of credit.

QUANEX BUILDING PRODUCTS CORPORATION NON-GAAP FINANCIAL MEASURE DISCLOSURE LAST TWELVE MONTHS ADJUSTED EBITDA RECONCILIATION (In thousands, except per share data) (Unaudited)

Reconciliation of Last Twelve Months Adjusted EBITDA	Three Months Ended October 31, 2025			Three Months Ended July 31, 2025			Three Months Ended April 30, 2025		Three Months Ended January 31, 2025			Total
	Reconciliation			Reconciliation			Reconciliation		Reconciliation			Reconciliation
Net income (loss) as reported	$	19,571		$	(276,007	)	$	20,515	$	(14,885	)	$	(250,806	)
Income tax expense (benefit)		15,147			(8,191	)		6,307		(5,050	)		8,213
Other, net		(5,246	)		(855	)		159		(1,229	)		(7,171	)
Interest expense		13,468			14,218			13,940		14,186			55,812
Depreciation and amortization		25,630			33,882			19,192		24,740			103,444
Asset impairment charges		-			302,284			-		-			302,284
EBITDA		68,570			65,331			60,113		17,762			211,776
Cost of sales ^(1),(2)		308			148			976		9,007			10,439
Selling, general and administrative ^(1),(3)		2,056			3,449			1,110		3,869			10,484
Restructuring (credit) charges ⁽⁴⁾		(16	)		1,367			936		7,904			10,191
Adjusted EBITDA	$	70,918		$	70,295		$	63,135	$	38,542		$	242,890

(1) Expense related to plant closure/relocation.
(2) Amortization of step-up for purchase price adjustments on inventory.
(3) Transaction, advisory fees, reorganization costs and product recall expenses.
(4) Restructuring charges related to severance.

QUANEX BUILDING PRODUCTS CORPORATION
NON-GAAP FINANCIAL MEASURE DISCLOSURE
(In thousands, except per share data)
(Unaudited)



Reconciliation of Adjusted Net Income and Adjusted EPS	Three Months Ended October 31, 2025							Three Months Ended October 31, 2024							Twelve Months Ended October 31, 2025							Twelve Months Ended October 31, 2024
	Net Income			Diluted EPS				Net Income			Diluted EPS				Net Income			Diluted EPS				Net Income			Diluted EPS
Net income (loss) as reported	$	19,571		$	0.43			$	(13,917	)	$	(0.30	)		$	(250,806	)	$	(5.43	)		$	33,059		$	0.90
Net income (loss) reconciling items from below		18,454		$	0.40				52,440		$	1.12				357,209		$	7.73				64,462		$	1.76
Adjusted net income and adjusted EPS	$	38,025		$	0.83			$	38,523		$	0.82			$	106,403		$	2.30			$	97,521		$	2.66

Reconciliation of Adjusted EBITDA	Three Months Ended October 31, 2025							Three Months Ended October 31, 2024							Twelve Months Ended October 31, 2025							Twelve Months Ended October 31, 2024
	Reconciliation							Reconciliation							Reconciliation							Reconciliation
Net income (loss)as reported	$	19,571						$	(13,917	)					$	(250,806	)					$	33,059
Income tax expense (benefit)		15,147							(3,621	)						8,213							9,023
Other, net		(5,246	)						2,671							(7,171	)						(7,849	)
Interest expense		13,468							17,697							55,812							20,593
Depreciation and amortization		25,630							27,329							103,444							60,328
Asset impairment charges		-							-							302,284							-
EBITDA		68,570							30,159							211,776							115,154
EBITDA reconciling items from below		2,348							50,891							31,114							67,229
Adjusted EBITDA	$	70,918						$	81,050						$	242,890						$	182,383

Reconciling Items	Three Months Ended October 31, 2025							Three Months Ended October 31, 2024							Twelve Months Ended October 31, 2025							Twelve Months Ended October 31, 2024
	Income Statement			Reconciling Items				Income Statement			Reconciling Items				Income Statement			Reconciling Items				Income Statement			Reconciling Items
Net sales	$	489,846		$	-			$	492,161		$	-			$	1,837,641		$	-			$	1,277,862		$	-
Cost of sales		352,284			(308	)	(1)		375,111			(29,363	)	(1),(2)		1,338,413			(10,439	)	(1),(2)		972,238			(31,501	)	(1),(2)
Selling, general and administrative		69,008			(2,056	)	(1),(3)		86,891			(21,528	)	(1),(3),(4)		277,261			(10,484	)	(1),(3)		190,470			(35,728	)	(1),(3),(4)
Restructuring credit (charges)		(16	)		16		(5)		-			-				10,191			(10,191	)	(5)		-			-		(5)
EBITDA		68,570			2,348				30,159			50,891				211,776			31,114				115,154			67,229
Goowill impairment charges		-			-				-			-				302,284			(302,284	)	(6)		-			-
Depreciation and amortization		25,630			(9,839	)	(7)		27,329			(12,623	)	(7)		103,444			(46,547	)	(7)		60,328			(21,605	)	(7)
Operating income (loss)		42,940			12,187				2,830			63,514				(193,952	)		379,945				54,826			88,834
Interest expense		(13,468	)		-				(17,697	)		-				(55,812	)		-				(20,593	)		-
Other, net		5,246			238		(8)		(2,671	)		3,271		(8)		7,171			120		(8)		7,849			(6,738	)	(8)
Income (loss) before income taxes		34,718			12,425				(17,538	)		66,785				(242,593	)		380,065				42,082			82,096
Income tax (expense) benefit		(15,147	)		6,029		(9)		3,621			(14,345	)	(9)		(8,213	)		(22,856	)	(9)		(9,023	)		(17,634	)	(9)
Net income (loss)	$	19,571		$	18,454			$	(13,917	)	$	52,440			$	(250,806	)	$	357,209			$	33,059		$	64,462

Diluted earnings (loss) per share	$	0.43						$	(0.30	)					$	(5.43	)					$	0.90


(1) Expense related to plant closure/relocation.
(2) Amortization of step-up for purchase price adjustments on inventory.
(3) Transaction, advisory fees, reorganization costs and product recall expenses.
(4) Amortization of step-up for purchase price adjustments on accounts receivable.
(5) Restructuring credit (charges) related to severance and disposal of software.
(6) Goodwill impairment.
(7) Amortization expense related to intangible assets and onetime deprecation adjustment.
(8) Pension settlement refund and foreign currency transaction gains.
(9) Tax impact of net income reconciling items.

QUANEX BUILDING PRODUCTS CORPORATION SELECTED SEGMENT DATA (In thousands) (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.
	Hardware Solutions			Extruded Solutions			Custom Solutions			Unallocated Corp & Other			Total
Three months ended October 31, 2025
Net sales	$	226,883		$	168,603		$	103,401		$	(9,041	)	$	489,846
Cost of sales		168,881			114,227			78,561			(9,385	)		352,284
Gross Margin		58,002			54,376			24,840			344			137,562
Gross Margin %		25.6	%		32.3	%		24.0	%					28.1	%
Selling, general and administrative ⁽¹⁾		29,439			22,795			14,117			2,657			69,008
Restructuring (credit) charges		(219	)		-			179			24			(16	)
Depreciation and amortization		12,863			7,138			5,555			74			25,630
Operating income (loss)		15,919			24,443			4,989			(2,411	)		42,940
Depreciation and amortization		12,863			7,138			5,555			74			25,630
EBITDA		28,782			31,581			10,544			(2,337	)		68,570
Expense related to plant relocation (Cost of sales)		308			-			-			-			308
Credit related to plant relocation (SG&A)		(25	)		-			-			-			(25	)
Transaction, advisory fees, reorganization costs, and product recall expenses		113			87			31			1,850			2,081
Restructuring (credit) charges related to severance		(219	)		-			179			24			(16	)
Adjusted EBITDA	$	28,959		$	31,668		$	10,754		$	(463	)	$	70,918
Adjusted EBITDA Margin %		12.8	%		18.8	%		10.4	%					14.5	%

Three months ended October 31, 2024
Net sales	$	223,712		$	180,135		$	101,240		$	(12,926	)	$	492,161
Cost of sales		183,427			126,653			77,746			(12,715	)		375,111
Gross Margin		40,285			53,482			23,494			(211	)		117,050
Gross Margin %		18.0	%		29.7	%		23.2	%					23.8	%
Selling, general and administrative ⁽¹⁾		32,860			12,367			11,612			30,052			86,891
Restructuring charges														-
Depreciation and amortization		13,049			8,503			5,663			114			27,329
Operating (loss) income		(5,624	)		32,612			6,219			(30,377	)		2,830
Depreciation and amortization		13,049			8,503			5,663			114			27,329
EBITDA		7,425			41,115			11,882			(30,263	)		30,159
Expense related to plant closure (Cost of sales)		-			887			-			-			887
Gain related to plant closure (SG&A)		-			(5,299	)		-			-			(5,299	)
Amortization of step-up for purchase price adjustments on inventory and accounts receivable		24,240			1,137			3,699			-			29,076
Transaction and advisory fees		268			88			-			25,871			26,227
Adjusted EBITDA	$	31,933		$	37,928		$	15,581		$	(4,392	)	$	81,050
Adjusted EBITDA Margin %		14.3	%		21.1	%		15.4	%					16.5	%

Twelve months ended October 31, 2025
Net sales	$	841,674		$	646,627		$	388,210		$	(38,870	)	$	1,837,641
Cost of sales		635,481			440,141			298,316			(35,525	)		1,338,413
Gross Margin		206,193			206,486			89,894			(3,345	)		499,228
Gross Margin %		24.5	%		31.9	%		23.2	%					27.2	%
Selling, general and administrative ⁽¹⁾		128,009			83,716			48,273			17,263			277,261
Restructuring charges		7,936			34			205			2,016			10,191
Depreciation and amortization		51,681			29,204			21,248			1,311			103,444
Goodwill impairment charges		163,198			54,934			84,152			-			302,284
Operating (loss) income		(144,631	)		38,598			(63,984	)		(23,935	)		(193,952	)
Depreciation and amortization		51,681			29,204			21,248			1,311			103,444
Asset impairment charges		163,198			54,934			84,152			-			302,284
EBITDA		70,248			122,736			41,416			(22,624	)		211,776
Expense related to plant relocation (Cost of sales)		1,432			-			-			-			1,432
Expense related to plant relocation (SG&A)		221			-			-			-			221
Amortization of step-up for purchase price adjustments on inventory		7,453			365			1,189			-			9,007
Transaction, advisory fees, reorganization costs, and product recall expenses		1,510			263			81			8,409			10,263
Restructuring charges related to severance and disposal of software		7,936			34			205			2,016			10,191
Adjusted EBITDA	$	88,800		$	123,398		$	42,891		$	(12,199	)	$	242,890
Adjusted EBITDA Margin %		10.6	%		19.1	%		11.0	%					13.2	%

Twelve months ended October 31, 2024
Net sales	$	427,839		$	559,995		$	309,441		$	(19,413	)	$	1,277,862
Cost of sales		349,379			389,760			252,111			(19,012	)		972,238
Gross Margin		78,460			170,235			57,330			(401	)		305,624
Gross Margin %		18.3	%		30.4	%		18.5	%					23.9	%
Selling, general and administrative ⁽¹⁾		51,564			58,100			31,068			49,738			190,470
Restructuring charges		-			-			-			-			-
Depreciation and amortization		16,580			25,119			18,348			281			60,328
Operating income (loss)		10,316			87,016			7,914			(50,420	)		54,826
Depreciation and amortization		16,580			25,119			18,348			281			60,328
EBITDA		26,896			112,135			26,262			(50,139	)		115,154
Expense related to plant closure (Cost of sales)		-			3,025			-			-			3,025
Gain related to plant closure (SG&A)		-			(4,196	)		-			-			(4,196	)
Amortization of step-up for purchase price adjustments on inventory and accounts receivable		24,240			1,137			3,699			-			29,076
Transaction and advisory fees		268			88			-			38,968			39,324
Adjusted EBITDA	$	51,404		$	112,189		$	29,961		$	(11,171	)	$	182,383
Adjusted EBITDA Margin %		12.0	%		20.0	%		9.7	%					14.3	%

(1) Includes stock-based compensation (credit) expense for the three and twelve months ended October 31, 2025, respectively of ($1.2) million and $2.4 million, and $2.0 million and $7.4 million for the comparable prior year periods.

QUANEX BUILDING PRODUCTS CORPORATION SELECTED SEGMENT DATA RECONCILIATION (In thousands) (Unaudited)

This table reconciles our segment presentation, as previously reported in Exhibit 99.1 to our Current Report Form 8-K dated December 12, 2024 for the three and twelve months ended October 31, 2024, to the current presentation.
	NA Fenestration			EU Fenestration			NA Cabinet Components			Tyman				Unallocated Corp & Other			Total
Three months ended October 31, 2024
Net sales	$	172,031		$	65,075		$	52,761		$	203,435			$	(1,141	)	$	492,161
Cost of sales		127,448			40,258			44,136			163,946				(677	)		375,111
Gross Margin		44,583			24,817			8,625			39,489				(464	)		117,050
Gross Margin %		25.9	%		38.1	%		16.3	%		19.4	%						23.8	%
Selling, general and administrative		10,072			8,310			5,373			44,453				18,683			86,891
Depreciation and amortization		5,107			2,715			3,004			16,438				65			27,329
Operating income (loss)		29,404			13,792			248			(21,402	)			(19,212	)		2,830
Depreciation and amortization		5,107			2,715			3,004			16,438				65			27,329
EBITDA		34,511			16,507			3,252			(4,964	)			(19,147	)		30,159
Expense related to plant closure (Cost of sales)		887			-			-			-				-			887
Net gain related to plant closure (SG&A)		(5,299	)		-			-			-				-			(5,299	)
Amortization of step-up for purchase price adjustments on inventory and accounts receivable		-			-			-			29,076				-			29,076
Transaction and advisory fees		-			-			-			10,359				15,868			26,227
Adjusted EBITDA	$	30,099		$	16,507		$	3,252		$	34,471			$	(3,279	)	$	81,050
Adjusted EBITDA Margin %		17.5	%		25.4	%		6.2	%		16.9	%						16.5	%

	Hardware Solutions⁽¹⁾			Extruded Solutions⁽²⁾			Custom Solutions⁽³⁾			Tyman				Unallocated Corp & Other			Total
Three months ended October 31, 2024
Net sales	$	223,712		$	180,135		$	101,240		$	-			$	(12,926	)	$	492,161
Cost of sales		183,427			126,653			77,746			-				(12,715	)		375,111
Gross Margin		40,285			53,482			23,494			-				(211	)		117,050
Gross Margin %		18.0	%		29.7	%		23.2	%									23.8	%
Selling, general and administrative		32,860			12,367			11,612			-				30,052			86,891
Depreciation and amortization		13,049			8,503			5,663			-				114			27,329
Operating income		(5,624	)		32,612			6,219			-				(30,377	)		2,830
Depreciation and amortization		13,049			8,503			5,663			-				114			27,329
EBITDA		7,425			41,115			11,882			-				(30,263	)		30,159
Expense related to plant closure (Cost of sales)		-			887			-			-				-			887
Net gain related to plant closure (SG&A)		-			(5,299	)		-			-				-			(5,299	)
Amortization of step-up for purchase price adjustments on inventory and accounts receivable		24,240			1,137			3,699			-		-		-			29,076
Transaction and advisory fees		268			88			-			-				25,871			26,227
Adjusted EBITDA	$	31,933		$	37,928		$	15,581		$	-			$	(4,392	)	$	81,050
Adjusted EBITDA Margin %		14.3	%		21.1	%		15.4	%									16.5	%

	NA Fenestration			EU Fenestration			NA Cabinet Components			Tyman				Unallocated Corp & Other			Total
Twelve months ended October 31, 2024
Net sales	$	650,058		$	230,712		$	198,424		$	203,435			$	(4,767	)	$	1,277,862
Cost of sales		498,378			144,585			168,414			163,946				(3,085	)		972,238
Gross Margin		151,680			86,127			30,010			39,489				(1,682	)		305,624
Gross Margin %		23.3	%		37.3	%		15.1	%		19.4	%						23.9	%
Selling, general and administrative		56,630			31,318			20,727			44,453				37,342			190,470
Depreciation and amortization		20,994			10,420			12,244			16,438				232			60,328
Operating income (loss)		74,056			44,389			(2,961	)		(21,402	)			(39,256	)		54,826
Depreciation and amortization		20,994			10,420			12,244			16,438				232			60,328
EBITDA		95,050			54,809			9,283			(4,964	)			(39,024	)		115,154
Expense related to plant closure (Cost of sales)		3,025			-			-			-				-			3,025
Net gain related to plant closure (SG&A)		(4,196	)		-			-			-				-			(4,196	)
Amortization of step-up for purchase price adjustments on inventory and accounts receivable		-			-			-			29,076				-			29,076
Transaction and advisory fees		-			-			-			10,359				28,965			39,324
Adjusted EBITDA	$	93,879		$	54,809		$	9,283		$	34,471			$	(10,059	)	$	182,383
Adjusted EBITDA Margin %		14.4	%		23.8	%		4.7	%		16.9	%						14.3	%

	Hardware Solutions⁽¹⁾			Extruded Solutions⁽²⁾			Custom Solutions⁽³⁾			Tyman				Unallocated Corp & Other			Total
Twelve months ended October 31, 2024
Net sales	$	427,839		$	559,995		$	309,441		$	-			$	(19,413	)	$	1,277,862
Cost of sales		349,379			389,760			252,111			-				(19,012	)		972,238
Gross Margin		78,460			170,235			57,330			-				(401	)		305,624
Gross Margin %		18.3	%		30.4	%		18.5	%									23.9	%
Selling, general and administrative		51,564			58,100			31,068			-				49,738			190,470
Depreciation and amortization		16,580			25,119			18,348			-				281			60,328
Operating income (loss)		10,316			87,016			7,914			-				(50,420	)		54,826
Depreciation and amortization		16,580			25,119			18,348			-				281			60,328
EBITDA		26,896			112,135			26,262			-				(50,139	)		115,154
Loss on damage to manufacturing facilities (Cost of sales)		-			3,025			-			-				-			3,025
Net gain related to plant closure (SG&A)		-			(4,196	)		-			-				-			(4,196	)
Amortization of step-up for purchase price adjustments on inventory and accounts receivable		24,240			1,137			3,699			-				-			29,076
Transaction and advisory fees		268			88			-			-				38,968			39,324
Adjusted EBITDA	$	51,404		$	112,189		$	29,961		$	-			$	(11,171	)	$	182,383
Adjusted EBITDA Margin %		12.0	%		20.0	%		9.7	%									14.3	%

(1) Contains a portion of the previously reported NA Fenestration segment.
(2) Contains a portion of the NA Fenestration segment and the EU Fenestration segment.
(3) Contains a portion of the NA Fenestration segment and the NA Cabinet Components segment.

QUANEX BUILDING PRODUCTS CORPORATION
SALES ANALYSIS
(In thousands)
(Unaudited)


		Three Months Ended October 31,						Twelve Months Ended October 31,
			2025			2024			2025			2024

Hardware Solutions:⁽¹⁾
	Window and door hardware	$	141,303		$	146,187		$	552,825		$	146,187
	Screens		77,545			75,677			280,814			279,804
	Other		8,035			1,848			8,035			1,848
		$	226,883		$	223,712		$	841,674		$	427,839
Extruded Solutions:⁽²⁾
	Window profiles	$	73,526		$	62,058		$	278,399		$	255,816
	Seals and gaskets		18,601			21,321			80,916			21,321
	Spacers		52,673			51,714			199,217			198,475
	Solar		6,245			9,598			24,080			25,672
	Flashing Tape		3,074			4,751			9,825			18,263
	Window and door hardware		10,032			11,177			39,726			11,177
	Other		4,452			19,516			14,464			29,271
		$	168,603		$	180,135		$	646,627		$	559,995
Custom Solutions:⁽³⁾
	Wood solutions	$	51,648		$	52,761		$	200,104		$	198,424
	Access solutions		27,746			25,792			101,904			25,792
	Mixing solutions		24,007			22,687			86,202			85,225
		$	103,401		$	101,240		$	388,210		$	309,441

Unallocated Corporate & Other:
	Eliminations	$	(9,041	)	$	(12,926	)	$	(38,870	)	$	(19,413	)
		$	(9,041	)	$	(12,926	)	$	(38,870	)	$	(19,413	)

Net Sales		$	489,846		$	492,161		$	1,837,641		$	1,277,862

(1) Reflects an increase of $2.5 million in revenue associated with foreign currency exchange rate impacts for the three and twelve months ended October 31, 2025, respectively.
(2) Reflects an increase of $2.5 million and $5.4 million in revenue associated with foreign currency exchange rate impacts for the three and twelve months ended October 31, 2025, respectively.
(3) Reflects an increase of $0.2 million in revenue associated with foreign currency exchange rate impacts for the three and twelve months ended October 31, 2025, respectively.