Quanex (NX) Q2 Earnings Beat Estimates, Sales Miss, Stock Up

Shares of the company rose 6% in the after-hours trading session on Jun 6 after the news release. Adjusted earnings of 66 cents per share surpassed the consensus estimate of 53 cents by 24.5%. The upside can be attributed to a decline in raw material costs, lower income tax expenses and reduced interest expenses. Gross margin in the quarter was 24.9%, which expanded 30 basis points (bps) from the prior-year period's tally. Adjusted EBITDA margin came in at 15%, reflecting a 40 bps increase from the year-ago ...