EXHIBIT 99.1

Quanex Building Products Announces Third Quarter 2024 Results and Updates Full Year 2024 Guidance

Results Consistent with Expectations
Transformative Tyman Acquisition Closed August 1, 2024
Acquisition Integration Underway

HOUSTON, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Quanex Building Products Corporation (NYSE:NX) (“Quanex” or the “Company”) today announced its results for the three months ended July 31, 2024.

The Company reported the following selected financial results:

	Three Months Ended July 31,		Nine Months Ended July 31,
($ in millions, except per share data)	2024	2023	2024	2023
Net Sales	$280.3	$299.6	$785.7	$835.1
Gross Margin	$70.9	$78.6	$188.6	$197.5
Gross Margin %	25.3%	26.2%	24.0%	23.7%
Net Income	$25.4	$31.7	$47.0	$55.1
Diluted EPS	$0.77	$0.96	$1.42	$1.67
Adjusted Net Income	$24.2	$31.9	$51.8	$59.7
Adjusted Diluted EPS	$0.73	$0.97	$1.56	$1.81
Adjusted EBITDA	$42.0	$48.5	$101.3	$108.8
Adjusted EBITDA Margin %	15.0%	16.2%	12.9%	13.0%
Cash Provided by Operating Activities	$46.4	$64.1	$83.3	$102.6
Free Cash Flow	$40.1	$56.7	$59.9	$80.1

(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, stated, “Overall, the results we reported for the third quarter of 2024 were consistent with our expectations. Consistent with the seasonality of our business, volumes increased across all operating segments in the third quarter of this year when compared to the second quarter. However, when compared to the prior year, demand remained soft, but we believe the building products industry will benefit from pent up demand once interest rates start to trend lower and consumer confidence is restored. All things considered, profitability for the quarter was as expected, but due to the decrease in volumes, coupled with lower operating leverage, margins declined year-over-year. Our continued focus on cash flow and managing working capital enabled us to generate approximately $40 million in free cash flow during the quarter.

“Looking ahead, work on integrating the recently acquired Tyman business and creating something new and special within the building products industry is in progress. Our internal Integration Management Office team is executing on the plan to capture the targeted synergies. In addition, we are working to structure the organization in a manner that will enable us to capitalize on existing commercial opportunities and tap into new innovative solutions. We are excited about creating additional value for our shareholders by realizing the anticipated synergies related to this acquisition and building a stronger, more profitable company over time.”

Third Quarter 2024 Results Summary

Quanex reported net sales of $280.3 million during the three months ended July 31, 2024, which represents a decrease of 6.4% compared to $299.6 million for the same period of 2023. The decrease was mostly attributable to softer market demand across all operating segments. Quanex reported a 3.9% decrease in net sales for the third quarter in its North American Fenestration segment primarily due to lower volume. In its North American Cabinet Components segment, the Company reported a decline of 7.1% in net sales for the third quarter largely because of lower volume. Excluding foreign exchange impact, Quanex realized a decrease in net sales of 10.8% for the third quarter in its European Fenestration segment mainly due to lower volume and pricing pressure. (See Sales Analysis table for additional information)

The decrease in adjusted earnings for the three months ended July 31, 2024 was largely attributable to decreased operating leverage as a result of lower volumes related to softer market demand combined with higher material costs in the Company’s North American Fenestration and North American Cabinet Components segments.

Balance Sheet Update

As of July 31, 2024, prior to the Tyman closing, Quanex had total debt of $55.0 million (primarily finance leases) and the Company was Net Debt free. As of July 31, 2024, the Company’s LTM Net Income was $74.4 million and LTM Adjusted EBITDA was $152.1 million. (See Non-GAAP Terminology Definitions and Disclaimers section, Net Debt Reconciliation table and Last Twelve Months Adjusted EBITDA Reconciliation table for additional information)

Recent Events

As previously disclosed on August 1, 2024, Quanex announced it had closed on its acquisition of Tyman, creating a comprehensive solutions provider in the building products industry. The transaction creates a larger, more diversified supplier of components to OEMs; strengthens brand leadership by adding Tyman’s highly recognizable brands with wide customer bases; and enhances the combined company’s financial profile with the goal of accelerating growth and increasing profitability through greater scale and stronger cash flow. The Company intends to complete approximately 50% of the integration within the first 12 months and expects the acquisition to be accretive to earnings within the first full year after closing.

Outlook

Mr. Wilson commented, “Since we closed on the Tyman acquisition at the beginning of our fourth fiscal quarter, prior guidance for 2024 is no longer valid. While we still feel comfortable with the prior guidance for the legacy Quanex business, we are simply layering in the contribution from the Tyman business for the fourth quarter, which includes the impact related to performing full physical inventory counts at every legacy Tyman location prior to the end of our fiscal year. On a consolidated basis, we now estimate net sales of $1.275 billion to $1.285 billion, which should result in $171 million to $176 million of Adjusted EBITDA* in fiscal 2024.”

*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.

Conference Call and Webcast Information

The Company has also scheduled a conference call for Friday, September 6, 2024 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.vevent.com/register/BI899b4025b8dc44e086b54362366d6727

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, vinyl fencing, 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.

For more information contact Scott Zuehlke, Senior Vice President, Chief Financial Officer & Treasurer, at 713-877-5327 or scott.zuehlke@quanex.com.

Non-GAAP Terminology Definitions and Disclaimers

Adjusted Net Income (defined as net income 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, asset impairment charges, 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, 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, 2023, 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 (In thousands, except per share data) (Unaudited)
	Three Months Ended July 31,						Nine Months Ended July 31,
		2024			2023			2024			2023
Net sales	$	280,345		$	299,640		$	785,701		$	835,091
Cost of sales		209,441			221,065			597,127			637,586
Selling, general and administrative		36,509			30,516			103,579			94,631
Depreciation and amortization		10,953			10,596			32,999			31,672
Operating income		23,442			37,463			51,996			71,202
Interest expense		(878	)		(2,068	)		(2,896	)		(6,571	)
Other, net		9,474			402			10,520			591
Income before income taxes		32,038			35,797			59,620			65,222
Income tax expense		(6,688	)		(4,099	)		(12,644	)		(10,103	)
Net income	$	25,350		$	31,698		$	46,976		$	55,119
Earnings per common share, basic	$	0.77		$	0.97		$	1.43		$	1.68
Earnings per common share, diluted	$	0.77		$	0.96		$	1.42		$	1.67
Weighted average common shares outstanding:
Basic		32,876			32,716			32,857			32,841
Diluted		33,106			32,919			33,087			33,031
Cash dividends per share	$	0.08		$	0.08		$	0.24		$	0.24

QUANEX BUILDING PRODUCTS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)
	July 31, 2024			October 31, 2023
ASSETS
Current assets:
Cash and cash equivalents	$	93,966		$	58,474
Accounts receivable, net		87,554			97,311
Inventories		99,127			97,959
Income taxes receivable		1,447			8,298
Prepaid and other current assets		19,305			11,558
Total current assets		301,399			273,600
Property, plant and equipment, net		251,890			250,664
Operating lease right-of-use assets		63,642			46,620
Goodwill		186,195			182,956
Intangible assets, net		66,606			74,115
Other assets		2,718			3,188
Total assets	$	872,450		$	831,143
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	63,948		$	74,371
Accrued liabilities		54,796			50,319
Income taxes payable		-			384
Current maturities of long-term debt		2,690			2,365
Current operating lease liabilities		6,435			7,224
Total current liabilities		127,869			134,663
Long-term debt		51,406			66,435
Noncurrent operating lease liabilities		59,099			40,361
Deferred income taxes		27,438			29,133
Other liabilities		12,502			14,997
Total liabilities		278,314			285,589
Stockholders’ equity:
Common stock		371			372
Additional paid-in-capital		250,297			251,576
Retained earnings		448,351			409,318
Accumulated other comprehensive loss		(30,131	)		(38,141	)
Treasury stock at cost		(74,752	)		(77,571	)
Total stockholders’ equity		594,136			545,554
Total liabilities and stockholders' equity	$	872,450		$	831,143

QUANEX BUILDING PRODUCTS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (In thousands) (Unaudited)
	Nine Months Ended July 31,
		2024			2023
Operating activities:
Net income	$	46,976		$	55,119
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization		32,999			31,672
Stock-based compensation		2,159			1,828
Deferred income tax		(2,321	)		177
Gain on deal contingent foreign exchange forward currency contract		(9,200	)		-
Other, net		886			2,423
Changes in assets and liabilities:
Decrease in accounts receivable		11,114			9,918
(Increase) decrease in inventory		(183	)		23,864
Decrease (increase) in other current assets		1,646			(439	)
Decrease in accounts payable		(9,634	)		(15,471	)
Increase (decrease) in accrued liabilities		948			(5,152	)
Decrease (increase) in income taxes receivable		6,659			(3,534	)
Increase in deferred pension benefits		-			22
Increase in other long-term liabilities		707			609
Other, net		577			1,523
Cash provided by operating activities		83,333			102,559
Investing activities:
Business acquisition		-			(91,302	)
Capital expenditures		(23,435	)		(22,450	)
Proceeds from disposition of capital assets		115			183
Cash used for investing activities		(23,320	)		(113,569	)
Financing activities:
Borrowings under credit facilities		-			102,000
Repayments of credit facility borrowings		(15,000	)		(60,000	)
Repayments of other long-term debt		(1,893	)		(1,954	)
Common stock dividends paid		(7,943	)		(7,952	)
Issuance of common stock		573			753
Payroll tax paid to settle shares forfeited upon vesting of stock		(1,193	)		(567	)
Purchase of treasury stock		-			(5,593	)
Cash (used for) provided by financing activities		(25,456	)		26,687
Effect of exchange rate changes on cash and cash equivalents		935			2,482
Increase in cash and cash equivalents		35,492			18,159
Cash and cash equivalents at beginning of period		58,474			55,093
Cash and cash equivalents at end of period	$	93,966		$	73,252

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 July 31,						Nine Months Ended July 31,
		2024			2023			2024			2023
Cash provided by operating activities	$46,388			$64,099			$83,333			$102,559
Capital expenditures		(6,252	)		(7,376	)		(23,435	)		(22,450	)
Free Cash Flow	$40,136			$56,723			$59,898			$80,109
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 July 31,
		2024			2023
Revolving credit facility	$0			$55,000
Finance lease obligations (1)		55,007			55,792
Total debt (2)		55,007			110,792
Less: Cash and cash equivalents		93,966			73,252
Net Debt		($38,959	)	$37,540
(1) Includes $50.7 million and $52.9 million in real estate lease liabilities considered finance leases under U.S. GAAP as of July 31, 2024 and July 31, 2023, 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 July 31, 2024			Three Months Ended April 30, 2024			Three Months Ended January 31, 2024			Three Months Ended October 31, 2023			Total
	Reconciliation			Reconciliation			Reconciliation			Reconciliation			Reconciliation
Net income as reported	$	25,350		$	15,377		$	6,249		$	27,382		$	74,358
Income tax expense		6,688			4,314			1,642			4,442			17,086
Other, net		(9,474	)		(4	)		(1,042	)		6,110			(4,410	)
Interest expense		878			950			1,068			1,565			4,461
Depreciation and amortization		10,953			10,894			11,152			11,194			44,193
EBITDA		34,395			31,531			19,069			50,693			135,688
Cost of sales (1),(2)		1,507			631			-			(35	)		2,103
Selling, general and administrative (1),(2),(3)		6,133			7,862			205			109			14,309
Adjusted EBITDA	$	42,035		$	40,024		$	19,274		$	50,767		$	152,100
(1) Expense related to plant closure.
(2) Loss on damage to manufacturing facilities caused by weather.
(3) Transaction and advisory fees.

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 July 31, 2024							Three Months Ended July 31, 2023							Nine Months Ended July 31, 2024							Nine Months Ended July 31, 2023
	Net Income			Diluted EPS				Net Income			Diluted EPS				Net Income			Diluted EPS				Net Income			Diluted EPS
Net income as reported	$	25,350		$	0.77			$	31,698		$	0.96			$	46,976		$	1.42			$	55,119		$	1.67
Net income reconciling items from below		(1,199	)	$	(0.04	)			201		$	0.01				4,775		$	0.14				4,550		$	0.14
Adjusted net income and adjusted EPS	$	24,151		$	0.73			$	31,899		$	0.97			$	51,751		$	1.56			$	59,669		$	1.81
Reconciliation of Adjusted EBITDA
	Three Months Ended July 31, 2024							Three Months Ended July 31, 2023							Nine Months Ended July 31, 2024							Nine Months Ended July 31, 2023
	Reconciliation							Reconciliation							Reconciliation							Reconciliation
Net income as reported	$	25,350						$	31,698						$	46,976						$	55,119
Income tax expense		6,688							4,099							12,644							10,103
Other, net		(9,474	)						(402	)						(10,520	)						(591	)
Interest expense		878							2,068							2,896							6,571
Depreciation and amortization		10,953							10,596							32,999							31,672
EBITDA		34,395							48,059							84,995							102,874
EBITDA reconciling items from below		7,640							395							16,338							5,954
Adjusted EBITDA	$	42,035						$	48,454						$	101,333						$	108,828
Reconciling Items	Three Months Ended July 31, 2024							Three Months Ended July 31, 2023							Nine Months Ended July 31, 2024							Nine Months Ended July 31, 2023
	Income Statement			Reconciling Items				Income Statement			Reconciling Items				Income Statement			Reconciling Items				Income Statement			Reconciling Items
Net sales	$	280,345		$	-			$	299,640		$	-			$	785,701		$	-			$	835,091		$	-
Cost of sales		209,441			(1,507	)	(1)		221,065			-				597,127			(2,138	)	(1)		637,586			(48	)	(2)
Selling, general and administrative		36,509			(6,133	)	(1),(3)		30,516			(395	)	(3)		103,579			(14,200	)	(1),(3)		94,631			(5,906	)	(2),(3)
EBITDA		34,395			7,640				48,059			395				84,995			16,338				102,874			5,954
Depreciation and amortization		10,953			-				10,596			-				32,999			-				31,672			-
Operating income		23,442			7,640				37,463			395				51,996			16,338				71,202			5,954
Interest expense		(878	)		-				(2,068	)		-				(2,896	)		-				(6,571	)		-
Other, net		9,474			(9,162	)	(4)		402			(126	)	(4)		10,520			(10,009	)	(4)		591			(36	)	(4)
Income before income taxes		32,038			(1,522	)			35,797			269				59,620			6,329				65,222			5,918
Income tax expense		(6,688	)		323		(5)		(4,099	)		(68	)	(5)		(12,644	)		(1,554	)	(5)		(10,103	)		(1,368	)	(4)
Net income	$	25,350		$	(1,199	)		$	31,698		$	201			$	46,976		$	4,775			$	55,119		$	4,550
Diluted earnings per share	$	0.77						$	0.96						$	1.42						$	1.67
(1) Expense related to plant closure.
(2) Loss on damage to manufacturing facilities caused by weather.
(3) Transaction and advisory fees.
(4) Pension settlement (refund) expense, gain on foreign exchange forward currency contract and foreign currency transaction losses (gains).
(5)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.
	NA Fenestration			EU Fenestration			NA Cabinet Components			Unallocated Corp & Other			Total
Three months ended July 31, 2024
Net sales	$	170,258		$	59,617		$	51,448		$	(978	)	$	280,345
Cost of sales		130,301			36,930			42,911			(701	)		209,441
Gross Margin		39,957			22,687			8,537			(277	)		70,904
Gross Margin %		23.5	%		38.1	%		16.6	%					25.3	%
Selling, general and administrative (1)		16,918			7,390			5,162			7,039			36,509
Depreciation and amortization		5,194			2,609			3,093			57			10,953
Operating income (loss)		17,845			12,688			282			(7,373	)		23,442
Depreciation and amortization		5,194			2,609			3,093			57			10,953
EBITDA		23,039			15,297			3,375			(7,316	)		34,395
Expense related to plant closure (Cost of sales)		1,507			-			-			-			1,507
Expense related to plant closure (SG&A)		125			-			-			-			125
Transaction and advisory fees		-			-			-			6,008			6,008
Adjusted EBITDA	$	24,671		$	15,297		$	3,375		$	(1,308	)	$	42,035
Adjusted EBITDA Margin %		14.5	%		25.7	%		6.6	%					15.0	%
Three months ended July 31, 2023
Net sales	$	177,081		$	67,889		$	55,385		$	(715	)	$	299,640
Cost of sales		135,126			41,266			44,935			(262	)		221,065
Gross Margin		41,955			26,623			10,450			(453	)		78,575
Gross Margin %		23.7	%		39.2	%		18.9	%					26.2	%
Selling, general and administrative (1)		14,254			8,039			5,095			3,128			30,516
Depreciation and amortization		5,033			2,434			3,084			45			10,596
Operating income		22,668			16,150			2,271			(3,626	)		37,463
Depreciation and amortization		5,033			2,434			3,084			45			10,596
EBITDA		27,701			18,584			5,355			(3,581	)		48,059
Transaction and advisory fees		-			-			-			395			395
Adjusted EBITDA	$	27,701		$	18,584		$	5,355		$	(3,186	)	$	48,454
Adjusted EBITDA Margin %		15.6	%		27.4	%		9.7	%					16.2	%
Nine months ended July 31, 2024
Net sales	$	478,027		$	165,637		$	145,663		$	(3,626	)	$	785,701
Cost of sales		370,930			104,327			124,278			(2,408	)		597,127
Gross Margin		107,097			61,310			21,385			(1,218	)		188,574
Gross Margin %		22.4	%		37.0	%		14.7	%					24.0	%
Selling, general and administrative (1)		46,558			23,008			15,354			18,659			103,579
Depreciation and amortization		15,887			7,705			9,240			167			32,999
Operating income (loss)		44,652			30,597			(3,209	)		(20,044	)		51,996
Depreciation and amortization		15,887			7,705			9,240			167			32,999
EBITDA		60,539			38,302			6,031			(19,877	)		84,995
Expense related to plant closure (Cost of sales)		2,138			-			-			-			2,138
Expense related to plant closure (SG&A)		1,103			-			-			-			1,103
Transaction and advisory fees		-			-			-			13,097			13,097
Adjusted EBITDA	$	63,780		$	38,302		$	6,031		$	(6,780	)	$	101,333
Adjusted EBITDA Margin %		13.3	%		23.1	%		4.1	%					12.9	%
Nine months ended July 31, 2023
Net sales	$	487,036		$	186,604		$	163,577		$	(2,126	)	$	835,091
Cost of sales		382,315			119,421			136,722			(872	)		637,586
Gross Margin		104,721			67,183			26,855			(1,254	)		197,505
Gross Margin %		21.5	%		36.0	%		16.4	%					23.7	%
Selling, general and administrative (1)		41,707			23,996			15,939			12,989			94,631
Depreciation and amortization		15,328			7,135			8,988			221			31,672
Operating income (loss)		47,686			36,052			1,928			(14,464	)		71,202
Depreciation and amortization		15,328			7,135			8,988			221			31,672
EBITDA		63,014			43,187			10,916			(14,243	)		102,874
Loss on damage to manufacturing facilities (Cost of sales)		35			-			13			-			48
Loss on damage to manufacturing facilities (SG&A)		-			-			200			-			200
Transaction and advisory fees		-			-			-			5,706			5,706
Adjusted EBITDA	$	63,049		$	43,187		$	11,129		$	(8,537	)	$	108,828
Adjusted EBITDA Margin %		12.9	%		23.1	%		6.8	%					13.0	%
(1) Includes stock-based compensation expense for the three and nine months ended July 31, 2024 of $1.3 million and $2.5 million, respectively, and $5.3 million and $7.6 million for the comparable prior year periods.

QUANEX BUILDING PRODUCTS CORPORATION SALES ANALYSIS (In thousands) (Unaudited)
		Three Months Ended July 31,						Nine Months Ended July 31,
			2024			2023			2024			2023
NA Fenestration:
	United States - fenestration	$	131,394		$	138,090		$	362,674		$	379,613
	International - fenestration		6,950			8,542			20,559			22,019
	United States - non-fenestration		27,873			26,423			81,196			73,823
	International - non-fenestration		4,041			4,026			13,598			11,581
		$	170,258		$	177,081		$	478,027		$	487,036
EU Fenestration: (1)
	International - fenestration	$	50,551		$	51,752		$	139,270		$	142,009
	International - non-fenestration		9,066			16,137			26,367			44,595
		$	59,617		$	67,889		$	165,637		$	186,604
NA Cabinet Components:
	United States - fenestration	$	3,791		$	4,486		$	11,203		$	12,613
	United States - non-fenestration		47,287			50,199			133,456			148,774
	International - non-fenestration		370			700			1,004			2,190
		$	51,448		$	55,385		$	145,663		$	163,577
Unallocated Corporate & Other:
	Eliminations	$	(978	)	$	(715	)	$	(3,626	)	$	(2,126	)
		$	(978	)	$	(715	)	$	(3,626	)	$	(2,126	)
Net Sales		$	280,345		$	299,640		$	785,701		$	835,091
(1) Reflects a decrease of $0.9 million and an increase $0.7 million in revenue associated with foreign currency exchange rate impacts for the three and nine months ended July 31, 2024, respectively.