Financial Performance - Net sales for the three months ended January 31, 2023, were $261,916, a decrease of 1.4% from $267,040 in the same period of 2022[11]. - Operating income decreased significantly to $4,403, down 68.9% from $14,126 year-over-year[11]. - Net income for the quarter was $1,909, a decline of 83.0% compared to $11,239 in the prior year[11]. - Comprehensive income for the quarter was $13,281, compared to $8,080 in the same quarter of 2022, indicating an increase of 64.3%[13]. - The company reported a foreign currency translation gain of $11,372 for the quarter, contrasting with a loss of $3,159 in the prior year[13]. - For the three months ended January 31, 2023, net sales were $261.9 million, a decrease of 1.4% compared to $267.0 million for the same period in 2022[34]. - Operating income for the three months ended January 31, 2023, was $4.403 million, down from $14.126 million in the prior year, indicating a 68.9% decrease[100]. - The company recorded a net income of $1.909 million for the three months ended January 31, 2023, compared to $11.239 million for the same period in 2022, representing an 83.0% decline[100]. Assets and Liabilities - Total assets increased to $827,026 as of January 31, 2023, up 14.2% from $724,617 at October 31, 2022[9]. - Long-term debt rose to $151,682, a substantial increase from $29,628 in the previous year[9]. - Cash and cash equivalents decreased to $43,055 from $55,093, reflecting a decline of 22.0%[9]. - Total lease assets increased to $103,219,000 as of January 31, 2023, from $78,003,000 as of October 31, 2022, representing a 32.3% increase[48]. - Total lease liabilities rose to $102,021,000 as of January 31, 2023, compared to $76,165,000 as of October 31, 2022, marking a 34.0% increase[48]. - Long-term debt increased significantly to $151,682,000 as of January 31, 2023, from $29,628,000 as of October 31, 2022, reflecting a 411.5% increase[53]. Cash Flow and Investments - Cash provided by operating activities was $3,135, a recovery from cash used of $(21,651) in the same period last year[16]. - The company made a business acquisition costing $92,000 during the quarter, impacting cash used in investing activities significantly[16]. - Cash provided by operating activities increased by $24.8 million, reaching $3.1 million for the three months ended January 31, 2023, compared to a cash outflow of $21.7 million in the prior year[145]. - Cash used for investing activities increased by $92.1 million, primarily due to the acquisition of LMI[146]. - Cash provided by financing activities was $83.3 million, including $86.4 million of net borrowings of long-term debt[147]. - As of January 31, 2023, the company had $43.1 million in cash and equivalents and $219.9 million available under the credit facility[141]. Acquisitions and Goodwill - The company acquired LMI Custom Mixing for $92 million in cash, with net sales from LMI contributing $16.5 million and operating income of $2.0 million since the acquisition[37]. - The preliminary purchase price allocation for LMI includes $42.1 million in goodwill and $19.5 million in intangible assets, reflecting the strategic value of the acquisition[39]. - The acquisition of LMI contributed $42.091 million to the goodwill balance, increasing the total goodwill to $184.706 million as of January 31, 2023[99]. Market Conditions and Forecasts - The NAHB forecasts housing starts to be 1.1 million in 2023, indicating a potential slowdown in the housing market[119]. - Ducker's forecast predicts a 5.7% decrease in total window shipments for 2023, reflecting weaker market demand[119]. - The ongoing geopolitical tensions and inflationary pressures are expected to impact commodity prices and operational costs[114]. Expenses and Cost Management - Selling, general and administrative expenses decreased by $1.1 million, or 8%, for the three months ended January 31, 2023, attributed to lower labor costs[126]. - Cost of sales increased by $8.8 million, or 8%, primarily due to inflation in raw materials and the inclusion of LMI's cost of sales[125]. - Depreciation and amortization expense increased by $1.1 million, or 27%, primarily due to the acquisition of LMI's property and equipment[127]. Tax and Compensation - The effective tax rate from continuing operations for the three months ended January 31, 2023, was 19.18%, compared to 17.70% for the same period in 2022[63]. - The company has a liability for uncertain tax positions (UTP) of $1.4 million related to U.S. federal and state tax items as of January 31, 2023[64]. - The total unrecognized compensation cost related to unamortized restricted stock awards was $3.7 million as of January 31, 2023, expected to be recognized over a remaining weighted average vesting period of 2.3 years[79]. Internal Controls and Compliance - There have been no changes in internal controls over financial reporting that materially affect the company, except for the internal controls of LMI acquired on November 1, 2022[162]. - Management is currently evaluating internal control procedures for LMI to comply with the Sarbanes-Oxley Act of 2002 by October 31, 2023[162].

Quanex Building Products Corporation (NYSE:NX) Q4 2022 Earnings Conference Call December 16, 2022 11:00 AM ET Company Participants George Wilson - President and Chief Executive Officer Scott Zuehlke - Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants Daniel Moore - CJS Securities Reuben Garner - The Benchmark Company Julio Romero - Sidoti & Company Christian Zyla - KeyBanc Capital Markets Operator Good day and thank you for standing by. Welcome to the Quanex Building ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended October 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-33913 _______________________________ QUANEX BUILDING PRODUCTS CORPORATION Registrant's telephone number, including area code: (713) 961-4 ...

Financial Data and Key Metrics Changes - The company reported net sales of $324 million for Q3 2022, a 15.8% increase from $279.9 million in Q3 2021, primarily due to higher prices from raw material cost inflation [6] - Net income rose by 90.4% to $25.9 million or $0.78 per diluted share, compared to $13.6 million or $0.41 per diluted share in the same quarter last year [7] - Adjusted EBITDA increased by 34.3% to $44.2 million, with an adjusted EBITDA margin expansion of approximately 180 basis points year-over-year [8][7] Performance by Business Segment - North American Fenestration segment net sales reached $184.7 million, a 25% growth year-over-year, driven by price increases and higher volumes [9] - North American Cabinet Components segment reported net sales of $72.5 million, a 17% increase, entirely attributed to price increases as volumes declined [11] - European Fenestration segment revenue was $67.6 million, a 4.9% decrease year-over-year, but an 8.7% increase when excluding foreign exchange impacts [14] Market Data and Key Metrics Changes - The company anticipates a 15% revenue growth in the North American Fenestration segment for Q4, while expecting a 15% decline in the European Fenestration segment due to foreign exchange impacts and softening demand [20] - The overall demand for products remains relatively healthy, although there are signs of softness in the North American Cabinet Components business [19] Company Strategy and Industry Competition - The company aims for profitable growth with a strategy focused on organic, inorganic, and innovative growth opportunities, targeting $2 billion in revenue [33][34] - The company emphasizes its manufacturing capabilities rather than being narrowly defined by specific markets, allowing for broader growth opportunities [35][36] - The company is exploring M&A opportunities that are margin-accretive and synergistic with its manufacturing capabilities [37] Management's Comments on Operating Environment and Future Outlook - Management noted that heightened mortgage rates and inflation concerns are headwinds to consumer confidence, but the U.S. housing market remains underbuilt with strong demand [25] - The company expects continued easing of supply chain concerns and a decrease in raw material costs, although labor costs will remain a challenge [28] - Management remains focused on cash generation and maintaining a strong balance sheet while navigating the current economic uncertainties [18][31] Other Important Information - Cash provided by operating activities was $51.7 million for Q3 2022, compared to $18.5 million in Q3 2021, with free cash flow of $46 million [16] - The company repaid $25 million in bank debt and repurchased $5 million of common stock during the quarter, maintaining a strong liquidity position [17] Q&A Session Summary Question: Can you break down the double-digit volume growth in North America Fenestration by product and end market? - Management indicated that screens and spacers drove growth, with vinyl profiles not contributing significantly [42] Question: How much of the Q4 guidance for Europe is FX-driven versus volume decline expectations? - Management noted a $9 million negative impact from FX, which significantly affected revenue [43] Question: What is the updated overall window shipment projection for calendar '22? - Management stated that window shipments are expected to be barely above flat, with uncertainty for '23 [46] Question: Can you discuss the fencing opportunity and whether significant investment is needed to scale it up? - Management believes they are well-positioned to serve the fencing market without significant investment, focusing on manufacturing capabilities [58] Question: How are energy prices in Europe affecting operations? - Management has not yet been impacted on supply but anticipates significant cost impacts that will be passed through to customers [67] Question: How should we think about inventory levels moving forward? - Management expects easing of inventory valuation but does not anticipate significant changes in volume [70]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q ________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-33913 ___________________________ ...

Financial Data and Key Metrics Changes - Net sales increased by 19.4% to $322.9 million in Q2 2022 compared to $270.4 million in Q2 2021, driven by higher prices due to raw material cost inflation [4][5] - Net income rose by 81.5% to $26.5 million or $0.80 per diluted share in Q2 2022, up from $14.6 million or $0.43 per diluted share in Q2 2021 [5] - Adjusted EBITDA increased by 40.4% to $45.2 million in Q2 2022 compared to $32.2 million in the same period last year [5] Business Line Data and Key Metrics Changes - North American Fenestration segment revenue was $177.9 million in Q2, a 21.7% increase year-over-year, with strong demand in IG spacer and screens product lines [13] - European Fenestration segment revenue reached $73.4 million in Q2, a 19.1% increase year-over-year, with adjusted EBITDA at $15.1 million [15] - North American Cabinet Components segment reported net sales of $72.9 million in Q2, a 14.7% increase year-over-year, despite a decrease in volumes due to customer supply chain issues [19] Market Data and Key Metrics Changes - Demand remains strong across all product lines, although there may have been some volume pull forward due to price increases [12] - Customer backlogs in all segments remain high, indicating solid demand despite potential economic challenges [23][49] Company Strategy and Development Direction - The company is focused on generating cash, paying down debt, and opportunistically repurchasing stock, reflecting confidence in long-term prospects [25] - The company anticipates margin expansion in the second half of the year as pricing catches up to inflationary pressures [14][21] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the remainder of the year despite inflation and supply chain challenges, with expectations for revenue growth driven more by price than volume [8][23] - The company is prepared for potential economic downturns, drawing on experiences from past challenges [43] Other Important Information - Cash provided by operating activities was $19.8 million in Q2 2022, down from $32.4 million in Q2 2021, with inventory values increasing due to inflation [6] - The leverage ratio of net debt to last 12 months adjusted EBITDA decreased to 0.3x as of April 30, 2022, indicating a strong balance sheet [6] Q&A Session Summary Question: Volume growth embedded in revised revenue expectations - Management indicated that revenue growth in the second half will be predominantly driven by price rather than volume [29] Question: Impact of demand pull forward - Management noted that pull forward primarily occurred in the spacer business and is not expected to materially impact guidance [30] Question: Customer pushback on pricing - Management emphasized transparency with customers regarding inflationary pressures, which has facilitated acceptance of price increases [32] Question: Share buyback strategy - Management plans to be more aggressive with share repurchases given strong cash flow expectations [34] Question: European demand and energy costs - Management acknowledged nervousness regarding energy costs but noted that demand remains strong [40] Question: Rate of inflation and input costs - Management observed signs of inflation slowing but highlighted ongoing challenges with specific inputs [41] Question: Performance in a recessionary environment - Management expressed confidence in their ability to manage through economic downturns based on past experiences [43] Question: Customer backlogs and labor constraints - Management indicated that backlogs are driven by both labor and supply chain issues, with ongoing challenges in installation labor [61] Question: M&A landscape - Management remains open to M&A opportunities but is cautious about valuations and strategic fit [51][52]

PART I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Quanex Building Products Corporation as of April 30, 2022, and for the three and six-month periods then ended [Condensed Consolidated Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The company's financial position strengthened, with total assets increasing to $740.5 million, net income saw significant growth, rising 82% for the quarter and 69% for the six-month period year-over-year, though cash flow from operations turned negative for the six-month period due to increased inventory and working capital changes Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | April 30, 2022 | October 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $298,920 | $249,047 | | **Total Assets** | $740,490 | $717,323 | | **Total Current Liabilities** | $146,588 | $158,001 | | **Total Liabilities** | $304,316 | $297,541 | | **Total Stockholders' Equity** | $436,174 | $419,782 | Condensed Consolidated Income Statement Highlights (in thousands, except per share data) | Metric | Q2 2022 | Q2 2021 | H1 2022 | H1 2021 | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $322,893 | $270,357 | $589,933 | $500,504 | | **Operating Income** | $34,550 | $21,380 | $48,676 | $33,215 | | **Net Income** | $26,522 | $14,551 | $37,761 | $22,403 | | **Diluted EPS** | $0.80 | $0.43 | $1.13 | $0.67 | Condensed Consolidated Cash Flow Highlights (Six Months Ended April 30, in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | **Cash (used for) provided by operating activities** | $(1,881) | $28,960 | | **Cash used for investing activities** | $(13,749) | $(8,134) | | **Cash provided by (used for) financing activities** | $16,502 | $(24,272) | | **Decrease in cash and cash equivalents** | $(1,161) | $(2,363) | [Notes to Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed disclosures on accounting policies and financial items, covering revenue recognition, business segment performance, debt structure, and stock-based compensation, with the company operating in three segments and managing a revolving credit facility - The company is a component supplier to OEMs in the building products industry, focusing on fenestration (window and door) components and kitchen and bath cabinet components, serving customers primarily in North America and the U.K.[21](index=21&type=chunk) Net Sales by Segment (in thousands) | Segment | Q2 2022 | Q2 2021 | H1 2022 | H1 2021 | | :--- | :--- | :--- | :--- | :--- | | **NA Fenestration** | $177,908 | $146,143 | $324,539 | $274,259 | | **EU Fenestration** | $73,427 | $61,657 | $132,341 | $110,748 | | **NA Cabinet Components** | $72,878 | $63,562 | $135,231 | $117,556 | | **Total Net Sales** | **$322,893** | **$270,357** | **$589,933** | **$500,504** | Operating Income by Segment (in thousands) | Segment | Q2 2022 | Q2 2021 | H1 2022 | H1 2021 | | :--- | :--- | :--- | :--- | :--- | | **NA Fenestration** | $22,221 | $15,783 | $34,372 | $26,986 | | **EU Fenestration** | $12,597 | $10,250 | $20,412 | $18,437 | | **NA Cabinet Components** | $568 | $(284) | $(885) | $(297) | | **Total Operating Income** | **$34,550** | **$21,380** | **$48,676** | **$33,215** | - As of April 30, 2022, the company had **$63.0 million** of borrowings outstanding under its **$325.0 million** revolving credit facility, with **$257.6 million** available for use, and was in compliance with all debt covenants[56](index=56&type=chunk) [Management's Discussion and Analysis (MD&A)](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting strong revenue growth across all segments driven by price increases and raw material surcharges, which offset inflationary pressures and, in some cases, volume declines, while maintaining strong liquidity despite decreased operating cash flow due to working capital investments [Market Overview and Outlook](index=28&type=section&id=Market%20Overview%20and%20Outlook) The company's performance is driven by North American new home construction and residential remodeling, with positive market forecasts for 2022, but faces risks from commodity price fluctuations and broader economic uncertainties - Market forecasts for 2022 are generally positive, with total window shipments expected to increase by approximately **5%** and U.S. residential semi-custom cabinet demand projected to grow by **2%**[113](index=113&type=chunk) - The company faces commodity price volatility in materials like PVC, aluminum, and wood, with price adjusters mitigating long-term exposure but short-term risk due to timing lags[114](index=114&type=chunk) - Geopolitical tensions, such as the war in Ukraine, and the ongoing impact of COVID-19 contribute to market uncertainty, potentially affecting commodity prices, supply chains, and interest rates[109](index=109&type=chunk)[111](index=111&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) For Q2 2022, net sales grew 19% to $322.9 million and net income increased 82% to $26.6 million year-over-year, with growth driven by pricing actions across all segments, though NA Cabinet Components' profitability was challenged Q2 2022 vs Q2 2021 Performance (in millions) | Metric | Q2 2022 | Q2 2021 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $322.9 | $270.4 | $52.5 | 19% | | **Operating Income** | $34.6 | $21.4 | $13.2 | 62% | | **Net Income** | $26.6 | $14.6 | $12.0 | 82% | - **NA Fenestration (Q2):** Net sales increased **22%** to **$177.9 million**, driven by price/surcharges (**$21.5 million**) and higher volumes (**$10.2 million**), with operating income growing **41%**[118](index=118&type=chunk) - **EU Fenestration (Q2):** Net sales rose **19%** to **$73.4 million**, primarily from price increases (**$14.8 million**) that offset negative foreign currency effects, with operating income increasing **24%**[123](index=123&type=chunk) - **NA Cabinet Components (Q2):** Net sales grew **15%** to **$72.9 million**, as price increases (**$18.3 million**) were partially offset by a significant volume decrease (**-$9.0 million**) due to supply chain issues, with the segment returning to a small operating profit[126](index=126&type=chunk) [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a healthy liquidity position with $38.9 million in cash and $257.6 million available under its credit facility, despite operating cash flow decreasing due to unfavorable working capital changes and increased inventory values - As of April 30, 2022, the company had **$38.9 million** in cash and cash equivalents and **$257.6 million** available under its revolving credit facility[152](index=152&type=chunk) - Operating cash flow declined by **$30.9 million** for the six months ended April 30, 2022, compared to the prior year, primarily due to unfavorable working capital changes, driven by an increase in inventory value from raw material price inflation and higher payouts of accrued incentives[154](index=154&type=chunk) - Cash from financing activities was **$16.5 million**, reflecting **$24.6 million** in net debt borrowings, partially offset by dividend payments (**$5.3 million**) and treasury stock purchases (**$1.6 million**)[156](index=156&type=chunk) [Market Risk Disclosures](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to interest rate, foreign currency, and commodity price risks, managing some through derivatives and price adjustment mechanisms, though short-term volatility remains - A hypothetical **1.0%** change in interest rates would impact annual pre-tax income by approximately **$0.6 million** based on debt levels at April 30, 2022[164](index=164&type=chunk) - The company has exposure to foreign currency fluctuations, primarily the Euro, British Pound Sterling, and Canadian Dollar, and uses foreign exchange contracts to manage a portion of this risk[165](index=165&type=chunk) - Commodity price risk for materials like PVC, oil-based products, and hardwood is managed through price adjuster programs with customers, but the company remains exposed to short-term volatility due to timing lags in these adjustments[166](index=166&type=chunk)[167](index=167&type=chunk)[168](index=168&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of April 30, 2022, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that as of April 30, 2022, the company's disclosure controls and procedures were effective[170](index=170&type=chunk) - No changes in internal controls over financial reporting occurred during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, internal controls[171](index=171&type=chunk) PART II. OTHER INFORMATION [Issuer Purchases of Equity Securities](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In December 2021, the Board of Directors authorized a new stock repurchase program for up to $75.0 million, with the company repurchasing 75,000 shares during Q2 fiscal 2022 - A stock repurchase program of up to **$75.0 million** was approved by the Board of Directors in December 2021[174](index=174&type=chunk) Share Repurchases in Q2 2022 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | February 2022 | — | $— | | March 2022 | — | $— | | April 2022 | 75,000 | $20.92 | | **Total** | **75,000** | **$20.92** | - As of April 30, 2022, the maximum remaining value of shares that may be repurchased under the program was approximately **$73.4 million**[174](index=174&type=chunk)

Quanex Building Products Corporation (NYSE:NX) Q1 2022 Earnings Conference Call March 4, 2022 11:00 AM ET Company Participants Scott Zuehlke - Senior Vice President, Chief Financial Officer and Treasurer George Wilson - President and CEO Conference Call Participants Daniel Moore - CJS Steven Ramsey - Thompson Research Group Julio Romero - Sidoti & Company Ken Zener - KeyBanc Operator Good day and thank you for standing by. Welcome to the First Quarter 2022 Quanex Building Products Corporation Earnings Confe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q ________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2022 Delaware 26-1561397 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1800 West Loop South, Suite 1500, Houston, Texas 77027 (Address ...

Financial Data and Key Metrics Changes - Net sales increased by 14.2% in Q4 2021 and 25.9% for the full year 2021, marking record growth for both periods [4] - Net income for Q4 2021 was $20.9 million or $0.62 per diluted share, compared to $22.2 million or $0.67 per diluted share in Q4 2020 [6] - For fiscal 2021, net income was $57 million or $1.70 per diluted share, up from $38.5 million or $1.17 per diluted share in fiscal 2020 [6] - Adjusted EBITDA decreased by 5.3% to $37.3 million in Q4 2021, while it increased by 21.3% to $126.8 million for the full year 2021 [8] Business Line Data and Key Metrics Changes - North American Fenestration segment saw net sales growth of 10.1% in Q4 and 19.6% for the full year [5] - North American Cabinet Components segment reported a 15.9% increase in Q4 and 17.1% for the full year [5] - European Fenestration segment experienced a 17.6% increase in Q4 and 45.6% for the full year, excluding foreign exchange impact [5] Market Data and Key Metrics Changes - Demand remains strong across all segments, supported by low existing housing inventory and low mortgage rates [23] - The company noted that supply chain disruptions have created significant challenges, impacting delivery schedules and inventory management [20][21] Company Strategy and Development Direction - The company aims for margin expansion in fiscal 2022, although it expects this to be more pronounced in the second half of the year [12][13] - A new $75 million share repurchase program has been authorized, indicating a commitment to returning value to shareholders [34] - The company is focusing on operational improvements and has raised starting wages to attract talent [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about demand but acknowledged ongoing supply chain challenges that create uncertainty [12][20] - The company is not providing specific guidance for 2022 due to the unpredictable nature of supply chain disruptions [37][38] - There is a belief that if the global supply chain stabilizes, it could lead to revenue and earnings growth in 2022 [39] Other Important Information - Cash provided by operating activities was $78.6 million for the 12 months ended October 31, 2021, down from $100.8 million in the previous year [10] - The leverage ratio improved to 0.1x as of October 31, 2021, indicating a strong balance sheet [12] Q&A Session Summary Question: What was the revenue growth driven by in Q4? - Management indicated that price adjustments were the primary driver of revenue growth, although volume also increased [42][44] Question: How much of the full year revenue growth was due to price versus volume? - For the full year, approximately 15% to 20% of the 26% revenue growth was attributed to volume [62] Question: How does the company compare to competitors regarding supply chain issues? - Management believes they are performing equally or better than competitors in acquiring raw materials, with no aggressive pricing strategies observed in the market [63][64] Question: What are the CapEx expectations for fiscal 2022? - The company expects to maintain CapEx guidance around $30 million to $35 million for 2022 [59] Question: What is the outlook for the overall windows market in North America and Europe? - The North American window market is expected to see low single-digit growth, while Europe is predicted to remain relatively flat year-over-year [53][55]