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Quanex building products Press Release Quanex Building Products Announces First Quarter 2021 Results and Increases Full Year 2021 Guidance Solid Growth and Significant Margin Expansion Realized Across All Operating Segments Balance Sheet Remains Strong Positive Outlook Intact HOUSTON , TEXAS - March 4 , 2021 - Quanex Building Products Corporation ( NYSE : NX ) ( " Quanex ” or the " Company " ) today announced its results for the three months ended January 31 , 2021 . The Company reported the following selected financial results : Net Sales Gross Margin Gross Margin % Net Income Diluted EPS Adjusted Net Income Adjusted Diluted EPS Adjusted EBITDA Adjusted EBITDA Margin % Cash Used for Operating Activities Three Months Ended January 31 , 2021 2020 $ 230.1 $ 196.6 $ 53.8 $ 39.2 23.4 % 19.9 % $ 7.9 $ 0.0 $ 0.24 $ 0.00 $ 9.0 $ 1.2 $ 0.27 $ 0.04 $ 24.3 $ 15.7 10.6 % 8.0 % ( $ 3.4 ) ( $ 3.7 ) ( $ 8.6 ) ( $ 13.0 ) Free Cash Flow ( See Non - GAAP Terminology Definitions and Disclaimers section , Non - GAAP Financial Measure Disclosure table Selected Segment Data table and Free Cash Flow Reconciliation table for additional information ) George Wilson , President and Chief Executive Officer , stated , " We posted another very strong quarter as demand for our products remained high throughout the first quarter of 2021. In fact , we realized solid growth and significant margin expansion in each of our operating segments . On a consolidated basis , net sales increased by 17.1 % and Adjusted EBITDA margin improved by approximately 260 basis points year - over - year as compared to the first quarter of 2020. Once again , volumes during the quarter were especially strong in Europe , and we remain optimistic on the global economic outlook despite the ongoing challenges related to the COVID - 19 pandemic . " Our balance sheet is strong , and we were able to repay $ 5.0 million in bank debt while repurchasing approximately $ 1.9 million of our common stock during the quarter . We are especially proud of this accomplishment since we are typically a net borrower during the first quarter of each year . We will remain focused on managing working capital and generating cash as the year progresses . Overall , we are delighted with the way our business is performing and we continue to be well positioned to benefit from tailwinds in the residential housing industry . " ( See Non - GAAP Terminology Definitions and Disclaimers section for additional information ) 1