RTTNews | Sep 4, 2020 10:58AM EDT

10:58 Friday, September 4, 2020 (RTTNews.com) - Shares of Quanex Building Products Corporation (NX) are rising more than 7% Friday morning on positive earnings surprise in the third quarter. The company also sees full-year revenue to be better than the consensus estimate.

Quanex reported adjusted earnings of $0.33 per share compared with $0.41 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share.

Net sales for the quarter decreased to $212.1 million from $238.5 million last year due to softer demand related to the COVID-19 pandemic.

The company has provided full-year sales outlook in the range of $832 million to $837 million as it sees demand for its products increases fast. In March, the company had withdrawn guidance for fiscal 2020 citing uncertainty due to the COVID-19 pandemic.

The consensus revenue estimate is for $789.62 million.

NX is currently trading at $18.56. It has traded in the range of$7.90- $20.42 in tha last one year.

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