0001423221-24-000009 | 10-Q | XBRL Viewer | Quanex Building Products Corp

Leases (Tables)

6 Months Ended

Apr. 30, 2024

Schedule of Lease-Related Assets and Liabilities

The table below presents the lease-related assets and liabilities recorded on the balance sheet at April 30, 2024 and October 31, 2023 (in thousands):


Leases	Classification	April 30, 2024		October 31, 2023
Assets
Operating lease assets	Operating lease right-of-use assets	$	65,019	$	46,620
Finance lease assets	Property, plant and equipment (less accumulated depreciation of $8,528 and $6,691)	60,135		58,496
Total lease assets		$	125,154	$	105,116

Liabilities
Current
Operating	Current operating lease liabilities	$	6,433	$	7,224
Finance	Current maturities of long-term debt	2,957		2,676
Noncurrent
Operating	Noncurrent operating lease liabilities	59,965		40,361
Finance	Long-term debt	52,260		52,309
Total lease liabilities		$	121,615	$	102,570

Schedule of Components of Lease Costs

The table below presents the components of lease costs for the three and six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Operating lease cost	$	2,520	$	2,239	$	4,953	$	4,408
Finance lease cost
Amortization of leased assets	907		815		1,781		1,614
Interest on lease liabilities	618		602		1,231		1,202
Variable lease costs	487		467		938		790
Total lease cost	$	4,532	$	4,123	$	8,903	$	8,014

The table below presents supplemental cash flow information related to leases for the six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Six Months Ended
	April 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Finance leases - financing cash flows	$	1,382	$	1,145
Finance leases - operating cash flows	$	1,231	$	1,202
Operating leases - operating cash flows	$	4,550	$	4,513

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	21,834	$	2,169
Finance leases	$	1,228	$	25,206

Schedule of Weighted Average Remaining Lease Terms and Weighted Average Discount Rates

The table below presents the weighted-average remaining lease terms and weighted-average discount rates for the Company's leases as of April 30, 2024 and October 31, 2023:


	April 30, 2024		October 31, 2023
Weighted-average remaining lease term (in years)
Operating leases	10.8		10.7
Financing leases	18.0		18.7

Weighted-average discount rate
Operating leases	4.62	%	4.09	%
Financing leases	4.56	%	4.52	%

Schedule of Maturity of Lease Liabilities

The table below presents the maturity of the lease liabilities as of April 30, 2024 (in thousands):


	Operating Leases		Finance Leases
2024 (remaining six months)	$	4,580	$	2,687
2025	9,198		5,295
2026	9,055		5,136
2027	8,064		4,980
2028	7,248		4,817
Thereafter	48,531		58,406
Total lease payments	86,676		81,321
Less: present value discount	20,278		26,104
Total lease liabilities	$	66,398	$	55,217

Schedule of Maturity of Lease Liabilities

The table below presents the maturity of the lease liabilities as of April 30, 2024 (in thousands):


	Operating Leases		Finance Leases
2024 (remaining six months)	$	4,580	$	2,687
2025	9,198		5,295
2026	9,055		5,136
2027	8,064		4,980
2028	7,248		4,817
Thereafter	48,531		58,406
Total lease payments	86,676		81,321
Less: present value discount	20,278		26,104
Total lease liabilities	$	66,398	$	55,217

Inventories

6 Months Ended

Apr. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following at April 30, 2024 and October 31, 2023 (in thousands):


	April 30, 2024		October 31, 2023
Raw materials	$	60,259	$	53,585
Finished goods and work in process	39,683		42,195
Supplies and other	1,504		2,179


Total	$	101,446	$	97,959

Fixed costs related to excess manufacturing capacity, if any, have been expensed in the period they were incurred and, therefore, are not capitalized into inventory.

Segment Information Reconciliation of Operating Income to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Apr. 30, 2024	Jan. 31, 2024	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2024	Apr. 30, 2023
Segment Reporting [Abstract]
Operating income	$ 20,637		$ 29,336		$ 28,554	$ 33,739
Interest expense	(950)		(2,244)		(2,018)	(4,503)
Other, net	4		(29)		1,046	189
Income tax expense	(4,314)		(5,551)		(5,956)	(6,004)
Net income	$ 15,377	$ 6,249	$ 21,512	$ 1,909	$ 21,626	$ 23,421

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Cover page - shares	6 Months Ended
Cover page - shares	Apr. 30, 2024	May 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
Document Transition Report	false
Entity File Number	1-33913
Entity Registrant Name	QUANEX BUILDING PRODUCTS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1561397
Entity Address, Address Line One	945 Bunker Hill Road
Entity Address, Address Line Two	Suite 900
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024
City Area Code	713
Local Phone Number	961-4600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001423221
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		33,112,593

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash Flow, Lessee [Abstract]
Finance leases - financing cash flows	$ 1,382	$ 1,145
Finance leases - operating cash flows	1,231	1,202
Operating leases - operating cash flows	4,550	4,513
Right-Of-Use Asset Obtained In Exchange For Lease Liability [Abstract]
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	21,834	2,169
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 1,228	$ 25,206

Segment Information Goodwill by Segment (Details) $ in Thousands	6 Months Ended
	Apr. 30, 2024 USD ($)
Goodwill [Line Items]
Beginning balance	$ 182,956
Foreign currency translation adjustment	1,525
Balance as of the end of the period	184,481
Operating Segments \| NA Fenestration
Goodwill [Line Items]
Beginning balance	80,105
Foreign currency translation adjustment	0
Balance as of the end of the period	80,105
Operating Segments \| EU Fenestration
Goodwill [Line Items]
Beginning balance	63,704
Foreign currency translation adjustment	1,525
Balance as of the end of the period	65,229
Operating Segments \| NA Cabinet Components
Goodwill [Line Items]
Beginning balance	39,147
Foreign currency translation adjustment	0
Balance as of the end of the period	39,147
Corporate Non-Segment
Goodwill [Line Items]
Beginning balance	0
Foreign currency translation adjustment	0
Balance as of the end of the period	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Costs (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Lease, Cost [Abstract]
Operating Lease, Cost	$ 2,520	$ 2,239	$ 4,953	$ 4,408
Finance lease cost, Amortization of leased assets	907	815	1,781	1,614
Finance lease cost, Interest on lease liabilities	618	602	1,231	1,202
Variable Lease, Cost	487	467	938	790
Lease, Cost	$ 4,532	$ 4,123	$ 8,903	$ 8,014

Goodwill and Intangible Assets

6 Months Ended

Apr. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The change in the carrying amount of goodwill for the six months ended April 30, 2024 was as follows (in thousands):


	Six Months Ended
	April 30, 2024
Beginning balance as of November 1, 2023	$	182,956


Foreign currency translation adjustment	1,525
Balance as of the end of the period	$	184,481

At our last annual test date, August 31, 2023, we evaluated the recoverability of goodwill at each of our five reporting units with goodwill balances and determined that our goodwill was not impaired. We evaluated for indicators of impairment for all reporting units during the three and six months ended April 30, 2024 and determined that there were no triggering events. For additional discussion of change in reporting units and a summary of the change in the carrying amount of goodwill by segment, see Note 12, “Segment Information.”

Identifiable Intangible Assets

Amortizable intangible assets consisted of the following as of April 30, 2024 and October 31, 2023 (in thousands):


	April 30, 2024				October 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	158,629	$	104,438	$	157,629	$	99,230
Trademarks and trade names	55,831		44,255		55,519		42,879
Patents and other technology	25,144		22,244		25,127		22,051

Total	$	239,604	$	170,937	$	238,275	$	164,160

We had aggregate amortization expense related to intangible assets for the three and six months ended April 30, 2024 of $3.0 million and $6.2 million, respectively, and $3.0 million and $6.1 million for the comparable prior year periods.

Estimated remaining amortization expense, assuming current intangible balances and no new acquisitions, for future fiscal years as of April 30, 2024 (in thousands):


	Estimated Amortization Expense
2024 (remaining six months)	$	5,561
2025	10,315
2026	10,073
2027	10,074
2028	4,840
Thereafter	27,804
Total	$	68,667

Income Taxes	6 Months Ended
Income Taxes	Apr. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes To determine our income tax expense or benefit for interim periods, consistent with accounting standards, we apply the estimated annual effective income tax rate to year-to-date results, plus any applicable discrete items, which are recorded in the period in which they occur. Discrete items include, among others, such events as changes in estimates due to the finalization of tax returns, tax audit settlements, expiration of statutes of limitations, tax benefits on equity compensation, and increases or decreases in valuation allowances on deferred tax assets. Our estimated annual effective tax rates from continuing operations for the six months ended April 30, 2024 and 2023 were 21.6% and 19.7%, respectively. The difference between our estimated annual effective income tax rate and the U.S. federal statutory rate of 21% principally results from discrete tax items, U.S. state taxes, a non-U.S. tax rate differential and other permanent differences. The primary discrete items affecting the 2024 effective rate were the benefit of $0.4 million related to the vesting or exercise of equity-based compensation awards, and a charge of $0.6 million related to the true up of the deferred tax rate. The primary discrete item affecting the 2023 effective rate was a benefit of $0.2 million related to the rate change on deferred taxes. As of April 30, 2024, our liability for uncertain tax positions (UTP) of $0.3 million relates to certain U.S. federal and state tax items regarding the interpretation of tax laws and regulations, including a minimal amount of interest and penalties. We include all interest and penalties related to uncertain tax benefits within our income tax provision account. To the extent interest and penalties are not assessed with respect to uncertain tax positions or the uncertainty of deductions in the future, amounts accrued will be reduced and reflected as a reduction of the overall income tax provision. We evaluate the likelihood of realization of our deferred tax assets by considering both positive and negative evidence. We maintain a valuation allowance for certain state net operating losses which totaled $0.6 million as of April 30, 2024 and October 31, 2023, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Acquisition	6 Months Ended
Acquisition	Apr. 30, 2024
Business Combinations [Abstract]
Asset Acquisition	AcquisitionOn November 1, 2022, we entered into an Asset Purchase Agreement (the “Purchase Agreement”) with LMI Custom Mixing, LLC (“LMI”) and the equity owners of LMI, Lauren International, Ltd. and Meteor-US-Beteiligungs GMBH. Under the Purchase Agreement, we acquired substantially all of the operating assets comprising LMI’s polymer mixing and rubber compound production business (collectively, the “Purchased Assets”) and also agreed to assume certain liabilities relating to the Purchased Assets (collectively, the “Acquisition”). As consideration for the Purchased Assets, we paid $91.3 million in cash utilizing funds borrowed under our Credit Facility. In connection with the Acquisition, we amended our existing finance lease with Lauren Real Estate Holding LLC for the purpose of adding an additional lease renewal option and increasing rental space by approximately 60,000 square feet of rental space which was added to the 313,595 square feet of rentable area located in Cambridge, Ohio.

Subsequent Events	6 Months Ended
Subsequent Events	Apr. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 22, 2024, we announced that we reached an agreement with Tyman plc, a company incorporated in England and Wales (LSE:TYMN) (“Tyman”) on the terms of a cash and share offer (the “Tyman Acquisition”), under which we will acquire the entire issued and to be issued share capital of Tyman for approximately $1.1 billion (based on the each of the £/US$ exchange rate and the Company’s last reported trading price as of April 19, 2024) in enterprise value. Under the terms of the Tyman Acquisition, Tyman shareholders will be entitled to elect to receive: (i) 240 pence in cash and 0.05715 of a share of Quanex common stock, par value of $0.01 per share, to be newly issued in connection with the Tyman Acquisition (the “New Quanex Shares”) for each Tyman ordinary share (such shares, the “Tyman Shares” and such option, the “Main Offer”) or (ii) under an alternative to the Main Offer, New Quanex Shares at an exchange ratio of 0.14288 of a New Quanex Share for each Tyman Share (such option, the “Capped All-Share Alternative”), provided that the Capped All-Share Alternative shall be made available for up to 25% of the Tyman Shares outstanding. The Tyman Acquisition will be implemented by means of a court-sanctioned scheme of arrangement under the UK Companies Act 2006, as amended (the” Scheme”). The Tyman Acquisition has been unanimously approved by the Boards of Directors of both Quanex and Tyman and is currently expected to close in the second half of calendar year 2024, subject to the satisfaction of customary closing conditions, including shareholder approval from both Tyman and Quanex shareholders and regulatory approvals. On May 2, 2024, we entered into a deal contingent foreign exchange forward currency contract to manage our exposure to foreign currency exchange rate fluctuations against the USD and GBP for approximately $605 million of the $1.1 billion purchase consideration for the proposed Tyman Acquisition. This forward contract will expire if the Tyman Acquisition terminates or does not close by March 18, 2025. This forward contract will be accounted for as a derivative and will be classified in other current assets and other current liabilities on the consolidated balance sheet, with changes in fair value recognized in the consolidated income statement.

Stock-Based Compensation - Performance Restricted Stock Units (Details) - Performance Restricted Stock Units - $ / shares				6 Months Ended
	Dec. 07, 2022	Dec. 09, 2021	Dec. 02, 2020	Apr. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Performance restricted stock units settled in cash				100.00%
Performance Restricted Stock Units Granted	40,700	51,500	50,900
Granted (in usd per share)	$ 30.35	$ 23.22	$ 21.06
Performance restricted stock units shares forfeited	0	3,100	3,400
Vested (in shares)				49,228
Performance restricted stock units as probable to vest				65,669
Level 1 [Member] \| A-TSR greater than or equal to 50% [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance restricted stock units vesting percentage maximum				150.00%
Level 2 [Member] \| A-TSR less than 50% and greater than or equal to 20% [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance restricted stock units vesting percentage maximum				100.00%
Level 3 [Member] \| A-TSR less than 20% and greater than or equal to -20% [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance restricted stock units vesting percentage maximum				50.00%
Level 4 [Member] \| A-TSR less than -20% [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance restricted stock units vesting percentage maximum				0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance restricted stock units vesting percentage maximum				0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance restricted stock units vesting percentage maximum				150.00%

Leases - Additional Information (Details)	Apr. 30, 2024
Real Estate-Related \| Minimum
Lessee, Lease, Description [Line Items]
Term of contract	5 years
Real Estate-Related \| Maximum
Lessee, Lease, Description [Line Items]
Term of contract	20 years
Equipment-Related \| Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Equipment-Related \| Maximum
Lessee, Lease, Description [Line Items]
Term of contract	10 years

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 15,377	$ 21,512	$ 21,626	$ 23,421
Other comprehensive income:
Foreign currency translation (loss) gain	(2,571)	3,082	3,510	14,454
Other comprehensive (expense) income	(2,571)	3,082	3,510	14,454
Comprehensive income	$ 12,806	$ 24,594	$ 25,136	$ 37,875

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stock-Based Compensation (Tables)

6 Months Ended

Apr. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Restricted Share Activity

A summary of non-vested restricted stock awards activity during the six months ended April 30, 2024 is presented below:


	Restricted Stock Awards	Weighted-Average Grant Date Fair Value per Share
Non-vested at October 31, 2023	242,300	$	22.36
Granted	72,900	32.15
Forfeited	(11,800)	22.30
Vested	(66,600)	20.68
Non-vested at April 30, 2024	236,800	$	25.85

Schedule of Stock Option Activity

The following table summarizes our stock option activity for the six months ended April 30, 2024:


	Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (000s)
Outstanding at October 31, 2023	107,530	$	19.48

Exercised	(28,280)	19.58

Outstanding at April 30, 2024	79,250	$	19.45	2.0	$	1,092
Vested at April 30, 2024	79,250	$	19.45	2.0	$	1,092
Exercisable at April 30, 2024	79,250	$	19.45	2.0	$	1,092

Schedule of Performance Share Awards

The following table summarizes our performance share grants and the grant date fair value for the RONA performance metrics:



Grant Date	Shares Awarded	Grant Date Fair Value		Shares Forfeited


December 9, 2021	80,900	$	22.54	4,600
December 7, 2022	89,300	$	23.49	4,600
December 7, 2023	72,200	$	32.15	—

Schedule of Performance Restricted Stock Vesting Conditions

Specifically, the awards vest on a continuum with the following Absolute Total Shareholder Return (A-TSR) milestones:

Vesting Level

Vesting Criteria

Percentage of Award Vested

Level 1

A-TSR greater than or equal to 50%

150%

Level 2

A-TSR less than 50% and greater than or equal to 20%

100%

Level 3

A-TSR less than 20% and greater than or equal to -20%

50%

Level 4

A-TSR less than -20%

—%

Performance Restricted Stock Units by Grant


Grant Date	Shares Awarded	Grant Date Fair Value		Shares Forfeited


December 9, 2021	50,900	$	21.06	3,400
December 7, 2022	51,500	$	23.22	3,100
December 7, 2023	40,700	$	30.35	—

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes amounts expensed as selling, general and administrative expense related to restricted stock awards, stock options, restricted stock units, performance share awards and performance restricted stock units for the three and six months ended April 30, 2024 and 2023 (in thousands):


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Restricted stock awards	$	502	$	464	$	819	$	902

Restricted stock units	352		(1,062)		1,776		429
Performance share awards	359		703		928		3,342
Performance restricted stock units	280		255		546		496
Total compensation expense	$	1,493	$	360	$	4,069	$	5,169

Treasury Stock Activity

The following table summarizes the treasury stock activity during the six months ended April 30, 2024:


			Six Months Ended
			April 30, 2024
Beginning Balance as of November 1, 2023			4,165,839
Restricted stock awards granted			(72,900)
Performance restricted stock units vested			(49,228)
Stock options exercised			(28,280)

Balance at April 30, 2024			4,015,431

Leases - Lease-Related Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Oct. 31, 2023
Assets
Operating lease right-of-use assets	$ 65,019	$ 46,620
Finance Lease, Right-of-Use Asset, Accumulated Amortization	8,528	6,691
Property, plant and equipment	60,135	58,496
Total lease assets	125,154	105,116
Current
Current operating lease liabilities	6,433	7,224
Current maturities of long-term debt	2,957	2,676
Noncurrent
Noncurrent operating lease liabilities	59,965	40,361
Long-term debt	52,260	52,309
Total lease liabilities	$ 121,615	$ 102,570

Retirement Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Retirement Plans (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Retirement Benefits [Abstract]
Supplemental benefit plan liability	$ 2,000		$ 2,000		$ 2,000
Deferred compensation liability	4,700		4,700		$ 3,900
Net periodic benefit cost:
Service cost	0	$ 96	0	$ 192
Interest cost	0	389	0	779
Expected return on plan assets	0	(367)	0	(733)
Amortization of net loss	0	11	0	21
Settlement reimbursement	(138)	0	(903)	0
Net periodic pension (benefit) cost	$ (138)	$ 129	$ (903)	$ 259

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Apr. 30, 2024	Jan. 31, 2024	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2024	Apr. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in usd per share)	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.16	$ 0.16

Stock-Based Compensation - Performance Share Awards (Details) - USD ($) $ / shares in Units, $ in Millions				6 Months Ended
	Dec. 07, 2022	Dec. 09, 2021	Dec. 02, 2020	Apr. 30, 2024
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares settled in cash				100.00%
Performance shares granted	72,200	89,300	80,900
Return On Net Assets	$ 32.15	$ 23.49	$ 22.54
Performance shares forfeited	0	4,600	4,600
Vested (in shares)				122,400
Payment For Settlement Of Share-Based Compensation				$ 3.4
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares vesting percentage maximum				0.00%
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares vesting percentage maximum				200.00%
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares granted	40,700	51,500	50,900
Performance shares forfeited	0	3,100	3,400
Vested (in shares)				49,228
Performance Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares vesting percentage maximum				0.00%
Performance Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares vesting percentage maximum				150.00%

Fair Value Measurement of Assets and Liabilities	6 Months Ended
Fair Value Measurement of Assets and Liabilities	Apr. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement of Assets and Liabilities	Fair Value Measurement of Assets and Liabilities Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market data developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to Level 1 and the lowest priority to Level 3. The three levels of the fair value hierarchy are described below: •Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. •Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates) and inputs that are derived principally from or corroborated by observable market data by correlation or other means. •Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Carrying amounts reported on the balance sheet for cash, cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments. Our outstanding debt is variable rate debt that re-prices frequently, thereby limiting our exposure to significant change in interest rate risk. As a result, the fair value of our debt instrument approximates carrying value at April 30, 2024, and October 31, 2023 (Level 2 measurement). Our performance share awards are marked-to-market on a quarterly basis during a three-year vesting period based on market data (Level 2 measurement). For further information, refer to Note 11, “Stock-Based Compensation - Performance Share Awards.”

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Statement [Abstract]
Net sales	$ 266,201	$ 273,535	$ 505,356	$ 535,451
Cost and expenses:
Cost of sales (excluding depreciation and amortization)	199,963	206,372	387,686	416,521
Selling, general and administrative	34,707	27,371	67,070	64,115
Depreciation and amortization	10,894	10,456	22,046	21,076
Operating income	20,637	29,336	28,554	33,739
Non-operating (expense) income:
Interest expense	(950)	(2,244)	(2,018)	(4,503)
Other, net	4	(29)	1,046	189
Income before income taxes	19,691	27,063	27,582	29,425
Income tax expense	(4,314)	(5,551)	(5,956)	(6,004)
Net income	$ 15,377	$ 21,512	$ 21,626	$ 23,421
Basic earnings per common share	$ 0.47	$ 0.65	$ 0.66	$ 0.71
Diluted earnings per common share	$ 0.46	$ 0.65	$ 0.65	$ 0.71
Weighted-average common shares outstanding:
Basic (in shares)	32,870	32,858	32,847	32,905
Diluted (in shares)	33,103	33,017	33,076	33,070
Cash dividends per share (in usd per share)	$ 0.08	$ 0.08	$ 0.16	$ 0.16

Nature of Operations and Basis of Presentation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Related Party Transaction [Line Items]
Net sales	$ 266,201,000	$ 273,535,000	$ 505,356,000	$ 535,451,000
Non-employee directors
Related Party Transaction [Line Items]
Net sales			500,000	$ 600,000
Non-employee directors \| No single transaction or series of related transactions exceeded $120,000
Related Party Transaction [Line Items]
Net sales			$ 120,000

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (a)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Debt and Finance Lease Obligations

6 Months Ended

Apr. 30, 2024

Debt Disclosure [Abstract]

Debt and Finance Lease Obligations

Long-term debt consisted of the following at April 30, 2024 and October 31, 2023 (in thousands):


	April 30, 2024		October 31, 2023
Revolving Credit Facility	$	—	$	15,000


Finance lease obligations and other	55,217		55,000
Unamortized deferred financing fees	(1,036)		(1,200)
Total debt	$	54,181	$	68,800
Less: Current maturities of long-term debt	2,632		2,365
Long-term debt	$	51,549	$	66,435

Revolving Credit Facility

On July 6, 2022, we entered into our Second Amended and Restated Credit Agreement (the “Credit Facility”) with Wells Fargo Securities, LLC, as Agent, Swingline Lender and Issuing Lender, and BofA Securities, Inc. serving as Syndication Agent. We capitalized $1.2 million of deferred financing fees related to the Credit Facility. This $325.0 million revolving credit facility has a five-year term, maturing on July 6, 2027, and replaces our previous credit facility. Our previous credit facility is more fully described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.

Interest payments for the Credit Facility are calculated, at our election and depending upon the Consolidated Net Leverage Ratio, at a Base Rate (as defined within the Credit Facility) plus an applicable margin or at the same rate as Risk-Free Rate (“RFR”) Loans for domestic borrowings or Eurocurrency Rate Loans plus an applicable margin. In addition, we are subject to commitment fees for the unused portion of the Credit Facility.

The applicable margin and commitment fees are outlined in the following table:


Pricing Level	Consolidated Net Leverage Ratio	Commitment Fee	Eurocurrency Rate Loans and RFR Loans	Base Rate Loans
I	Less than or equal to 1.50 to 1.00	0.150%	1.25%	0.25%
II	Greater than 1.50 to 1.00, but less than or equal to 2.25 to 1.00	0.175%	1.50%	0.50%
III	Greater than 2.25 to 1.00, but less than or equal to 3.00 to 1.00	0.200%	1.75%	0.75%
IV	Greater than 3.00 to 1.00	0.250%	2.00%	1.00%

In the event of default, outstanding borrowings would accrue interest at the Default Rate, as defined, whereby the obligations will bear interest at a per annum rate equal to 2% above the total per annum rate otherwise applicable.

The Credit Facility provides for incremental revolving credit commitments for a minimum principal amount of $10.0 million, up to an aggregate amount of $150.0 million or 100% of Consolidated EBITDA, subject to the lender's discretion to elect or decline the incremental increase. We can also borrow up to the lesser of $15.0 million or the revolving credit commitment, as defined, under a Swingline feature of the Credit Facility.

The Credit Facility contains a: (1) Consolidated Interest Coverage Ratio requirement whereby we must not permit the Consolidated Interest Coverage Ratio, as defined, to be less than 3.00 to 1.00, and (2) Consolidated Net Leverage Ratio requirement, whereby we must not permit the Consolidated Net Leverage Ratio, as defined, to be greater than 3.25 to 1.00.

In addition to maintaining these financial covenants, the Credit Facility also limits our ability to enter into certain business transactions, such as to incur indebtedness or liens, to acquire businesses or dispose of material assets, make restricted payments, pay dividends (limited to $25.0 million per year) and other transactions as further defined in the Credit Facility. Some of these limitations, however, do not take effect so long as Consolidated Net Leverage Ratio is less than or equal to 2.75 to 1.00 and available liquidity exceeds $25.0 million. Substantially all of our domestic assets, with the exception of real property, are used as collateral for the Credit Agreement.

As of April 30, 2024, we had no borrowings outstanding under the Credit Facility, unamortized debt issuance costs of $1.0 million, $3.7 million of outstanding letters of credit and $55.2 million outstanding primarily under finance leases and other

debt. We had $321.3 million available for use under the Credit Facility at April 30, 2024. Our weighted-average borrowing rate for borrowings outstanding during the six months ended April 30, 2024 and 2023 was 6.69% and 5.71%, respectively. We were in compliance with our debt covenants as of April 30, 2024.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Contingencies	6 Months Ended
Contingencies	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Remediation and Environmental Compliance Costs Under applicable state and federal laws, we may be responsible for, among other things, all or part of the costs required to remove or remediate wastes or hazardous substances at locations we, or our predecessors, have owned or operated. From time to time, we also have been alleged to be liable for all or part of the costs incurred to clean up third-party sites where there might have been an alleged improper disposal of hazardous substances. Currently, we are not involved in any such matters. From time to time, we incur routine expenses and capital expenditures associated with compliance with existing environmental regulations, including control of air emissions and water discharges, and plant decommissioning costs. We have not incurred any material expenses or capital expenditures related to environmental matters during the past three fiscal years, and do not expect to incur a material amount of such costs in fiscal 2024. While we will continue to have future expenditures related to environmental matters, any such amounts are impossible to reasonably estimate at this time. Based upon our experience to date, we do not believe that our compliance with environmental requirements will have a material adverse effect on our operations, financial condition or cash flows. Litigation From time to time, we, along with our subsidiaries, are involved in various litigation matters arising in the ordinary course of our business, including those arising from or related to contractual matters, commercial disputes, intellectual property, personal injury, environmental matters, product performance or warranties, product liability, insurance coverage and personnel and employment disputes. We regularly review with legal counsel the status of all ongoing proceedings, and we maintain insurance against these risks to the extent deemed prudent by our management and to the extent such insurance is available. However, there is no assurance that we will prevail in these matters or that our insurers will accept full coverage of these matters, and we could, in the future, incur judgments, enter into settlements of claims, or revise our expectations regarding the outcome or insurability of matters we face, which could materially impact our results of operations. We have been and are currently party to multiple claims, some of which are in litigation, relating to alleged defects in a commercial sealant product that was manufactured and sold during the 2000’s. While we believe that our product was not defective and that we would prevail in these commercial sealant product claims if taken to trial, the timing, ultimate resolution and potential impact of these claims is not currently determinable. Nevertheless, after taking into account all currently available information, including our defenses, the advice of our counsel, and the extent and currently-expected availability of our existing insurance coverage, we believe that the eventual outcome of these commercial sealant claims will not have a material adverse effect on our overall financial condition, results of operations or cash flows, and we have not recorded any accrual with regard to these claims.

Debt and Finance Lease Obligations (Tables)

6 Months Ended

Apr. 30, 2024

Debt Disclosure [Abstract]

Debt and Finance Lease Obligations

Long-term debt consisted of the following at April 30, 2024 and October 31, 2023 (in thousands):


	April 30, 2024		October 31, 2023
Revolving Credit Facility	$	—	$	15,000


Finance lease obligations and other	55,217		55,000
Unamortized deferred financing fees	(1,036)		(1,200)
Total debt	$	54,181	$	68,800
Less: Current maturities of long-term debt	2,632		2,365
Long-term debt	$	51,549	$	66,435

Schedule of Applicable Margin and Commitment Fees

The applicable margin and commitment fees are outlined in the following table:


Pricing Level	Consolidated Net Leverage Ratio	Commitment Fee	Eurocurrency Rate Loans and RFR Loans	Base Rate Loans
I	Less than or equal to 1.50 to 1.00	0.150%	1.25%	0.25%
II	Greater than 1.50 to 1.00, but less than or equal to 2.25 to 1.00	0.175%	1.50%	0.50%
III	Greater than 2.25 to 1.00, but less than or equal to 3.00 to 1.00	0.200%	1.75%	0.75%
IV	Greater than 3.00 to 1.00	0.250%	2.00%	1.00%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Apr. 30, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended April 30, 2024, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Stock Options, [Roll Forward]
Outstanding at beginning of period (in shares)	107,530
Exercised (in shares)	(28,280)
Outstanding at end of period (in shares)	79,250
Vested (in shares)	79,250
Exercisable at end of period (in shares)	79,250
Weighted-Average Exercise Price
Outstanding at beginning of period (in usd per share)	$ 19.48
Exercised (in usd per share)	19.58
Outstanding at end of period (in usd per share)	19.45
Vested or expected to vest at end of period (in usd per share)	19.45
Exercisable at end of period (in usd per share)	$ 19.45
Weighted Average Remaining Contractual Life
Outstanding, weighted average remaining contractual life	2 years
Vested, remaining contractual life	2 years
Exercisable, weighted average remaining contractual life	2 years
Aggregate Intrinsic Value
Outstanding at end of period	$ 1,092
Vested or expected to vest at end of period	1,092
Exercisable at end of period	$ 1,092
Stock Options
Stock Options, [Roll Forward]
Exercised (in shares)	(28,280)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Total intrinsic value of options exercised	$ 400	$ 100

Leases - Weighted Average Remaining Lease Terms and Weighted Average Discount Rates (Details)	Apr. 30, 2024	Oct. 31, 2023
Weighted-average remaining lease term (in years)
Operating leases	10 years 9 months 18 days	10 years 8 months 12 days
Financing leases	18 years	18 years 8 months 12 days
Weighted-average discount rate
Operating leases	4.62%	4.09%
Financing leases	4.56%	4.52%

Acquisition (Details) $ in Thousands	3 Months Ended	6 Months Ended
Acquisition (Details) $ in Thousands	Jan. 31, 2024 USD ($)	Apr. 30, 2024 USD ($)	Apr. 30, 2023 USD ($)	Nov. 01, 2022 ft²
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired \| $	$ 91,300	$ 0	$ 91,302
OHIO
Business Acquisition [Line Items]
Increase In Net Rentable Area				60,000
Net Rentable Area				313,595

Stock-Based Compensation - Restricted Stock Awards (Details) - Restricted Stock Awards (RSAs) - USD ($)	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Number of Shares
Non-vested at beginning of the period (in shares)	242,300
Grants (in shares)	72,900
Cancelled (in shares)	(11,800)
Vested (in shares)	(66,600)
Non-vested at end of the period (in shares)	236,800
Weighted-Average Grant Date Fair Value per Share
Non-vested at beginning of the period (in usd per share)	$ 22.36
Granted (in usd per share)	32.15
Cancelled (in usd per share)	22.30
Vested (in usd per share)	20.68
Non-vested at end of the period (in usd per share)	$ 25.85
Fair value of restricted stock awards vested	$ 1,400,000	$ 900,000
Unrecognized compensation cost - non vested restricted stock awards	$ 3,500,000
Weighted-average period over which unrecognized cost is expected to be recognized	2 years 1 month 6 days

Nature of Operations and Basis of Presentation (Tables)

6 Months Ended

Apr. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Disaggregation of Revenue


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
	(In thousands)
North American Fenestration:
United States - fenestration	$	119,646	$	120,756	$	231,280	$	241,523
International - fenestration	7,465		8,350		13,609		13,477
United States - non-fenestration	27,532		24,334		53,323		47,400
International - non-fenestration	5,131		3,535		9,557		7,555
	$	159,774	$	156,975	$	307,769	$	309,955
European Fenestration:

International - fenestration	$	46,968	$	47,903	$	88,719	$	90,257
International - non-fenestration	9,615		15,860		17,301		28,458
	$	56,583	$	63,763	$	106,020	$	118,715
North American Cabinet Components:
United States - fenestration	$	3,737	$	4,219	$	7,412	$	8,127
United States - non-fenestration	46,990		48,526		86,169		98,575
International - non-fenestration	351		773		634		1,490
	$	51,078	$	53,518	$	94,215	$	108,192
Unallocated Corporate & Other
Eliminations	$	(1,234)	$	(721)	$	(2,648)	$	(1,411)
	$	(1,234)	$	(721)	$	(2,648)	$	(1,411)
Net sales	$	266,201	$	273,535	$	505,356	$	535,451

Income Taxes (Detail) - USD ($) $ in Millions	6 Months Ended
Income Taxes (Detail) - USD ($) $ in Millions	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Income Tax Disclosure
Effective Income Tax Rate Reconciliation, Percent	21.60%	19.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Effective Income Tax Rate Reconciliation, Vesting or Exercise Of Share-based Payment Arrangement, Amount	$ 0.4
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount	0.6	$ 0.2
Liability for uncertain tax positions	0.3
Valuation allowance	$ 0.6		$ 0.6

Goodwill and Intangible Assets (Tables)

6 Months Ended

Apr. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill

The change in the carrying amount of goodwill for the six months ended April 30, 2024 was as follows (in thousands):


	Six Months Ended
	April 30, 2024
Beginning balance as of November 1, 2023	$	182,956


Foreign currency translation adjustment	1,525
Balance as of the end of the period	$	184,481

The following table summarizes the change in the carrying amount of goodwill by reportable business segment for the six months ended April 30, 2024 (in thousands):


	NA Fenestration		EU Fenestration		NA Cabinet Comp.		Unallocated Corp. & Other		Total
Balance as of October 31, 2023	$	80,105	$	63,704	$	39,147	$	—	$	182,956


Foreign currency translation adjustment	—		1,525		—		—		1,525
Balance as of April 30, 2024	$	80,105	$	65,229	$	39,147	$	—	$	184,481

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Identifiable Intangible Assets

Amortizable intangible assets consisted of the following as of April 30, 2024 and October 31, 2023 (in thousands):


	April 30, 2024				October 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	158,629	$	104,438	$	157,629	$	99,230
Trademarks and trade names	55,831		44,255		55,519		42,879
Patents and other technology	25,144		22,244		25,127		22,051

Total	$	239,604	$	170,937	$	238,275	$	164,160

Estimated Amortization Expense Related to Intangible Assets


	Estimated Amortization Expense
2024 (remaining six months)	$	5,561
2025	10,315
2026	10,073
2027	10,074
2028	4,840
Thereafter	27,804
Total	$	68,667

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
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+ Details

Segment Information (Tables)

6 Months Ended

Apr. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment information for the three and six months ended April 30, 2024 and 2023, and total assets as of April 30, 2024 and October 31, 2023 are summarized in the following table (in thousands):


	NA Fenestration		EU Fenestration		NA Cabinet Components		Unallocated Corp. & Other		Total
Three Months Ended April 30, 2024
Net sales	$	159,774	$	56,583	$	51,078	$	(1,234)	$	266,201
Depreciation and amortization	5,218		2,538		3,082		56		10,894
Operating income (loss)	18,565		10,478		306		(8,712)		20,637
Capital expenditures	5,739		605		1,099		160		7,603
Three Months Ended April 30, 2023
Net sales	$	156,975	$	63,763	$	53,518	$	(721)	$	273,535
Depreciation and amortization	5,050		2,353		2,970		83		10,456
Operating income	15,295		12,506		846		689		29,336
Capital expenditures	4,859		1,100		1,481		52		7,492
Six Months Ended April 30, 2024
Net sales	$	307,769	$	106,020	$	94,215	$	(2,648)	$	505,356
Depreciation and amortization	10,693		5,096		6,147		110		22,046
Operating income (loss)	26,807		17,909		(3,491)		(12,671)		28,554
Capital expenditures	11,460		2,406		2,935		382		17,183
Six Months Ended April 30, 2023
Net sales	$	309,955	$	118,715	$	108,192	$	(1,411)	$	535,451
Depreciation and amortization	10,295		4,701		5,904		176		21,076
Operating income (loss)	25,018		19,902		(343)		(10,838)		33,739
Capital expenditures	8,472		3,056		3,341		205		15,074
As of April 30, 2024
Total assets	$	392,108	$	239,277	$	154,833	$	50,995	$	837,213
As of October 31, 2023
Total assets	$	379,286	$	239,333	$	158,824	$	53,700	$	831,143

Changes in the Carrying Amount of Goodwill

The change in the carrying amount of goodwill for the six months ended April 30, 2024 was as follows (in thousands):


	Six Months Ended
	April 30, 2024
Beginning balance as of November 1, 2023	$	182,956


Foreign currency translation adjustment	1,525
Balance as of the end of the period	$	184,481

The following table summarizes the change in the carrying amount of goodwill by reportable business segment for the six months ended April 30, 2024 (in thousands):


	NA Fenestration		EU Fenestration		NA Cabinet Comp.		Unallocated Corp. & Other		Total
Balance as of October 31, 2023	$	80,105	$	63,704	$	39,147	$	—	$	182,956


Foreign currency translation adjustment	—		1,525		—		—		1,525
Balance as of April 30, 2024	$	80,105	$	65,229	$	39,147	$	—	$	184,481

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

We did not allocate non-operating loss or income tax benefit to the reportable segments. The following table reconciles operating income as reported above to net income for the three and six months ended April 30, 2024 and 2023 (in thousands):


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Operating income	$	20,637	$	29,336	$	28,554	$	33,739
Interest expense	(950)		(2,244)		(2,018)		(4,503)
Other, net	4		(29)		1,046		189
Income tax expense	(4,314)		(5,551)		(5,956)		(6,004)
Net income	$	15,377	$	21,512	$	21,626	$	23,421

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

+ Details

Inventories (Tables)

6 Months Ended

Apr. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following at April 30, 2024 and October 31, 2023 (in thousands):


	April 30, 2024		October 31, 2023
Raw materials	$	60,259	$	53,585
Finished goods and work in process	39,683		42,195
Supplies and other	1,504		2,179


Total	$	101,446	$	97,959

New Accounting Guidance	6 Months Ended
New Accounting Guidance	Apr. 30, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Guidance	New Accounting Guidance From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standards setting bodies that we adopt as of the specified effective date. We did not adopt any new accounting pronouncements during the three and six months ended April 30, 2024. Accounting Standards Not Yet Adopted In November 2023, the FASB issued “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 with early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In December 2023, the FASB issued “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which includes updates to the income tax disclosures related to the rate reconciliation and disaggregation of income taxes paid by jurisdiction. The amendments are effective for fiscal years beginning after December 15, 2024 with early adoption permitted. The amendments should be applied prospectively, however retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2024	Apr. 30, 2023
Pay vs Performance Disclosure
Net income	$ 15,377	$ 6,249	$ 21,512	$ 1,909	$ 21,626	$ 23,421

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Operating activities:
Net income	$ 21,626	$ 23,421
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	22,046	21,076
Stock-based compensation	1,365	1,398
Deferred income tax	(155)	97
Other, net	162	982
Changes in assets and liabilities:
Decrease in accounts receivable	10,832	11,564
(Increase) decrease in inventory	(3,008)	14,799
Increase in other current assets	(1,124)	(1,746)
Decrease in accounts payable	(12,619)	(19,825)
Decrease in accrued liabilities	(4,602)	(14,407)
Decrease (increase) in income taxes receivable	1,856	(1,754)
Increase in deferred pension benefits	0	17
Increase in other long-term liabilities	9	1,808
Other, net	557	1,030
Cash provided by operating activities	36,945	38,460
Investing activities:
Business acquisition	0	(91,302)
Capital expenditures	(17,183)	(15,074)
Proceeds from disposition of capital assets	93	101
Cash used for investing activities	(17,090)	(106,275)
Financing activities:
Borrowings under credit facility	0	102,000
Repayments of credit facility borrowings	(15,000)	(35,000)
Repayments of other long-term debt	(954)	(1,306)
Common stock dividends paid	(5,294)	(5,320)
Issuance of common stock	554	99
Payroll tax paid to settle shares forfeited upon vesting of stock	(1,193)	(567)
Purchase of treasury stock	0	(5,593)
Cash (used for) provided by financing activities	(21,887)	54,313
Effect of exchange rate changes on cash and cash equivalents	(293)	1,905
Decrease in cash and cash equivalents	(2,325)	(11,597)
Cash and cash equivalents at beginning of period	58,474	55,093
Cash and cash equivalents at end of period	$ 56,149	$ 43,496

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2024	Oct. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 198	$ 843
Accumulated depreciation of property, plant and equipment	$ 381,366	$ 368,763
Preferred stock, no par value	$ 0	$ 0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	37,127,024	37,176,958
Common stock, shares outstanding	33,111,593	33,011,119
Treasury stock, common, shares	4,015,431	4,165,839

Stock-Based Compensation

6 Months Ended

Apr. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

We have established and maintain an Omnibus Incentive Plan (2020 Plan) that provides for the granting of restricted stock awards, stock options, restricted stock units, performance share awards, performance restricted stock units, and other stock-based and cash-based awards. The 2020 Plan is administered by the Compensation and Management Development Committee of the Board of Directors.

The aggregate number of shares of common stock authorized for grant under the 2020 Plan is 3,139,895 as approved by shareholders. Any officer, key employee and/or non-employee director is eligible for awards under the 2020 Plan. We grant restricted stock units to non-employee directors on the first business day of each fiscal year. As approved by the Compensation & Management Development Committee of our Board of Directors annually, we grant a mix of restricted stock awards, performance shares and performance restricted stock units to officers, management and key employees. We also historically granted stock options to certain officers, directors and key employees. Occasionally, we may make additional grants to key employees at other times during the year.

Restricted Stock Awards

Restricted stock awards are granted to key employees and officers annually, and typically cliff vest over a three-year period with service and continued employment as the only vesting criteria. The recipient of the restricted stock award is entitled to all of the rights of a shareholder, except that the award is nontransferable during the vesting period and quarterly dividends are not paid until the award vests. The fair value of the restricted stock award is established on the grant date and then expensed over the vesting period resulting in an increase in additional paid-in-capital. Shares are generally issued from treasury stock at the time of grant.

A summary of non-vested restricted stock awards activity during the six months ended April 30, 2024 is presented below:


	Restricted Stock Awards	Weighted-Average Grant Date Fair Value per Share
Non-vested at October 31, 2023	242,300	$	22.36
Granted	72,900	32.15
Forfeited	(11,800)	22.30
Vested	(66,600)	20.68
Non-vested at April 30, 2024	236,800	$	25.85

The total weighted-average grant-date fair value of restricted stock awards that vested during each of the six months ended April 30, 2024 and 2023 was $1.4 million and $0.9 million, respectively. As of April 30, 2024, total unrecognized compensation cost related to unamortized restricted stock awards was $3.5 million. We expect to recognize this expense over the remaining weighted-average vesting period of 2.1 years.

Stock Options

Historically, stock options have been awarded to key employees, officers and non-employee directors. In December 2017, the Compensation & Management Development Committee of the Board of Directors approved a change to the long-term incentive award program eliminating the grant of stock options and replacing this award with a grant of performance restricted stock units and performance shares as further described below. As a result, the final stock options were granted during the fiscal year ended October 31, 2017. Stock options typically vested ratably over a three-year period with service and continued employment as the vesting conditions. Our stock options may be exercised up to a maximum of ten years from the date of grant. The fair value of the stock options was determined on the grant date and expensed over the vesting period resulting in an increase in additional paid-in-capital. For employees who were nearing retirement-eligibility, we recognize stock option expense ratably over the shorter of the vesting period or the period from the grant-date to the retirement-eligibility date.

We use a Black-Scholes pricing model to estimate the fair value of stock options. A description of the methodology for the valuation assumptions was disclosed in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.

The following table summarizes our stock option activity for the six months ended April 30, 2024:


	Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (000s)
Outstanding at October 31, 2023	107,530	$	19.48

Exercised	(28,280)	19.58

Outstanding at April 30, 2024	79,250	$	19.45	2.0	$	1,092
Vested at April 30, 2024	79,250	$	19.45	2.0	$	1,092
Exercisable at April 30, 2024	79,250	$	19.45	2.0	$	1,092

Intrinsic value is the amount by which the market price of the common stock on the date of exercise exceeds the exercise price of the stock option. The total intrinsic value of stock options exercised during the six months ended April 30, 2024 and 2023 was $0.4 million and less than $0.1 million, respectively.

Restricted Stock Units

Restricted stock units may be awarded to key employees and officers from time to time, and annually to non-employee directors. The non-employee director restricted stock units vest immediately but are payable only upon the director's cessation of service unless an election is made by the non-employee director to settle and pay the award on an earlier specified date. Restricted stock units awarded to employees and officers typically cliff vest after a three-year period with service and continued employment as the vesting conditions. Restricted stock units are not considered outstanding shares and do not have voting rights, although the holder does receive a cash payment equivalent to the dividend paid, on a one-for-one basis, on our outstanding common shares. Once the criteria is met, each restricted stock unit is payable to the holder in cash based on the market value of one share of our common stock. Accordingly, we record a liability for the restricted stock units on our balance sheet and recognize any changes in the market value during each reporting period as compensation expense.

During the six months ended April 30, 2024 and 2023, non-employee directors received 26,215 and 38,704 restricted stock units, respectively, at a weighted-average grant date fair value of $26.70 per share and $20.67 per share, respectively, which vested immediately. During the six months ended April 30, 2023, 21,774 restricted stock units, which were awarded to key employees, vested. During the six months ended April 30, 2024, we paid $0.6 million and $0.4 million for the comparable prior year to settle vested restricted stock units.

Performance Share Awards

We have awarded annual grants of performance shares to key employees and officers. Performance share awards vest with return on net assets (RONA) as the vesting condition and pay out 100% in cash, and are accounted for as liability.

The expected cash settlement of the performance share award is recorded as a liability and is being marked to market over the three-year term of the award and can fluctuate depending on the number of shares ultimately expected to vest. Depending on the achievement of the performance conditions, 0% to 200% of the awarded performance shares may ultimately vest.

The following table summarizes our performance share grants and the grant date fair value for the RONA performance metrics:



Grant Date	Shares Awarded	Grant Date Fair Value		Shares Forfeited


December 9, 2021	80,900	$	22.54	4,600
December 7, 2022	89,300	$	23.49	4,600
December 7, 2023	72,200	$	32.15	—

In December 2023, 122,400 shares vested pursuant to the December 2020 grant, which were settled with a cash payment of $3.4 million.

Performance share awards are payable in cash based upon the number of performance shares ultimately earned, and are therefore not considered outstanding shares.

Performance Restricted Stock Units

We award performance restricted stock units to key employees and officers. These awards cliff vest upon a three-year service period with the absolute total shareholder return of our common stock over this three-year term as the vesting criteria. The number of shares earned is variable depending on the metric achieved, and the settlement method is 100% in our common stock, with accrued dividends paid in cash at the time of vesting, assuming the shares had been outstanding throughout the performance period.

To value the performance restricted stock units, we used a Monte Carlo simulation model to arrive at a grant-date fair value. This amount will be adjusted for forfeitures and expensed over the three-year term of the award with a credit to additional paid-in-capital. Depending on the achievement of the performance conditions, a minimum of 0% and a maximum of 150% of the awarded performance restricted stock units may vest. Specifically, the awards vest on a continuum with the following Absolute Total Shareholder Return (A-TSR) milestones:

Vesting Level

Vesting Criteria

Percentage of Award Vested

Level 1

A-TSR greater than or equal to 50%

150%

Level 2

A-TSR less than 50% and greater than or equal to 20%

100%

Level 3

A-TSR less than 20% and greater than or equal to -20%

50%

Level 4

A-TSR less than -20%

—%

The following table summarizes our performance restricted stock unit grants and the grant date fair value for the A-TSR performance metric:


Grant Date	Shares Awarded	Grant Date Fair Value		Shares Forfeited


December 9, 2021	50,900	$	21.06	3,400
December 7, 2022	51,500	$	23.22	3,100
December 7, 2023	40,700	$	30.35	—

During the six months ended April 30, 2024, 49,228 performance restricted stock units vested.

The performance restricted stock units are not considered outstanding shares, do not have voting rights, and are excluded from diluted weighted-average shares used to calculate earnings per share until the performance criteria is probable to result in the issuance of contingent shares. As of April 30, 2024, we have deemed 65,669 shares related to the December 2021 grant of performance restricted stock units as probable to vest.


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Restricted stock awards	$	502	$	464	$	819	$	902

Restricted stock units	352		(1,062)		1,776		429
Performance share awards	359		703		928		3,342
Performance restricted stock units	280		255		546		496
Total compensation expense	$	1,493	$	360	$	4,069	$	5,169

Treasury Shares

We record treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. Shares are generally issued from treasury stock at the time of grant of restricted stock awards, upon the exercise of stock options, and upon the vesting of performance restricted stock units. On the subsequent issuance of treasury shares, we record proceeds in excess of cost as an increase in additional paid in capital. A deficiency of such proceeds relative to costs would be applied to reduce paid-in-capital associated with prior issuances to the extent available, with the remainder recorded as a charge to retained earnings. There were no charges to retained earnings during the six months ended April 30, 2024.

The following table summarizes the treasury stock activity during the six months ended April 30, 2024:


			Six Months Ended
			April 30, 2024
Beginning Balance as of November 1, 2023			4,165,839
Restricted stock awards granted			(72,900)
Performance restricted stock units vested			(49,228)
Stock options exercised			(28,280)

Balance at April 30, 2024			4,015,431

Retirement Plans

6 Months Ended

Apr. 30, 2024

Retirement Benefits [Abstract]

Retirement Plans

Pension Plan

Our non-contributory, single employer defined benefit pension plan covered certain of our employees in the U.S. During the year ended October 31. 2023, we terminated our defined contribution plan and settled the obligation during the three months ended October 31, 2023. The net periodic pension (benefit) cost for this plan for the three and six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Service cost	$	—	$	96	$	—	$	192
Interest cost	—		389		—		779
Expected return on plan assets	—		(367)		—		(733)
Amortization of net loss	—		11		—		21
Settlement reimbursement	(138)		—		(903)		—
Net periodic pension (benefit) cost	$	(138)	$	129	$	(903)	$	259

Other Plans

We also have a supplemental benefit plan covering certain executive officers and key employees and a non-qualified deferred compensation plan covering members of the Board of Directors and certain key employees. As of April 30, 2024 and October 31, 2023, our liability under the supplemental benefit plan was approximately $2.0 million. During the year ended October 31, 2023, the supplemental benefit plan was terminated. Benefits associated with this plan will be distributed in June 2024 in accordance with Internal Revenue Service regulations. As of April 30, 2024 and October 31, 2023, the liability associated with the deferred compensation plan was approximately $4.7 million and $3.9 million, respectively. We record the current portion of liabilities associated with these plans under the caption “Accrued liabilities,” and the long-term portion under the caption “Other liabilities” in the accompanying condensed consolidated balance sheets.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
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-Section 50
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-Topic 715
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 30, 2024	Oct. 31, 2023
Current assets:
Cash and cash equivalents	$ 56,149	$ 58,474
Accounts receivable, net of allowance for credit losses of $198 and $843	87,078	97,311
Inventories	101,446	97,959
Income taxes receivable	6,054	8,298
Prepaid and other current assets	12,776	11,558
Total current assets	263,503	273,600
Property, plant and equipment, net of accumulated depreciation of $381,366 and $368,763	252,857	250,664
Operating lease right-of-use assets	65,019	46,620
Goodwill	184,481	182,956
Intangible assets, net	68,667	74,115
Other assets	2,686	3,188
Total assets	837,213	831,143
Current liabilities:
Accounts payable	60,615	74,371
Accrued liabilities	48,851	50,319
Income taxes payable	0	384
Current maturities of long-term debt	2,632	2,365
Current operating lease liabilities	6,433	7,224
Total current liabilities	118,531	134,663
Long-term debt	51,549	66,435
Noncurrent operating lease liabilities	59,965	40,361
Deferred income taxes	29,280	29,133
Other liabilities	11,766	14,997
Total liabilities	271,091	285,589
Commitments and contingencies
Stockholders’ equity:
Preferred stock, no par value, shares authorized 1,000,000; issued and outstanding - none	0	0
Common stock, $0.01 par value, shares authorized 125,000,000; issued 37,127,024 and 37,176,958, respectively; outstanding 33,111,593 and 33,011,119, respectively	371	372
Additional paid-in-capital	249,502	251,576
Retained earnings	425,650	409,318
Accumulated other comprehensive loss	(34,631)	(38,141)
Less: Treasury stock at cost, 4,015,431 and 4,165,839 shares, respectively	(74,770)	(77,571)
Total stockholders’ equity	566,122	545,554
Total liabilities and stockholders' equity	$ 837,213	$ 831,143

Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Stock Based Compensation (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Share-Based Payment Arrangement [Abstract]
Number of shares authorized, originally	3,139,895		3,139,895
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,493	$ 360	$ 4,069	$ 5,169
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	502	464	819	902
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	352	(1,062)	1,776	429
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	359	703	928	3,342
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 280	$ 255	$ 546	$ 496

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation - Treasury Shares (Details) - shares	6 Months Ended
	Apr. 30, 2024	Oct. 31, 2023
Treasury Stock [Abstract]
Stock options exercised	(28,280)
Treasury stock, common, shares	4,015,431	4,165,839
Restricted Stock Awards (RSAs)
Treasury Stock [Abstract]
Restricted stock awards granted	(72,900)
Performance Shares
Treasury Stock [Abstract]
Restricted stock awards granted	(49,228)
Stock Options
Treasury Stock [Abstract]
Stock options exercised	(28,280)

Goodwill and Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 239,604		$ 239,604		$ 238,275
Accumulated amortization	170,937		170,937		164,160
Intangible assets amortization expense	3,000	$ 3,000	6,200	$ 6,100
Estimated Amortization Expense
2024 (remaining six months)	5,561		5,561
2025	10,315		10,315
2026	10,073		10,073
2027	10,074		10,074
2028	4,840		4,840
Thereafter	27,804		27,804
Total	68,667		68,667		74,115
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	158,629		158,629		157,629
Accumulated amortization	104,438		104,438		99,230
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	55,831		55,831		55,519
Accumulated amortization	44,255		44,255		42,879
Patents and other technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	25,144		25,144		25,127
Accumulated amortization	$ 22,244		$ 22,244		$ 22,051

Leases

6 Months Ended

Apr. 30, 2024

Leases [Abstract]

Leases

We recognize a right-of-use (ROU) asset and lease liability for each operating and finance lease with a contractual term greater than 12 months at the time of lease inception. We include ROU assets and lease liabilities for leases that exist within other contracts. Leases with an original term of 12 months or less are not recognized on the balance sheet, and the rent expense related to those short-term leases is recognized over the lease term. We do not account for lease and non-lease (e.g., common area maintenance) components of contracts separately for any underlying asset class.

We lease certain manufacturing plants, warehouses, office space, vehicles and equipment under finance and operating leases. Lease commencement occurs on the date we take possession or control of the property or equipment. Original terms for our real estate-related leases are generally between five years and twenty years. Original terms for equipment-related leases, primarily manufacturing equipment and vehicles, are generally between one year and ten years. Some of our leases also include rental escalation clauses. Renewal options are included in the determination of lease payments when management determines the options are reasonably certain of exercise, considering financial performance, strategic importance and/or invested capital.

If readily determinable, the rate implicit in the lease is used to discount lease payments to present value; however, substantially all of our leases do not provide a readily determinable implicit rate. When the implicit rate is not determinable, our estimated incremental borrowing rate is utilized, determined on a collateralized basis, to discount lease payments based on information available at lease commencement.

Total lease costs recorded include fixed operating lease costs and variable lease costs. Most of our real estate leases require we pay certain expenses, such as common area maintenance costs, of which the fixed portion is included in operating lease costs. We recognize operating lease costs on a straight-line basis over the lease term. In addition to the above costs, variable lease costs are recognized when probable and are not included in determining the present value of our lease liability.

The ROU asset is measured at the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date and initial direct costs. For operating leases, ROU assets are reduced over the lease term by the recognized straight-line lease expense less the amount of accretion of the lease liability determined using the effective interest method. For finance leases, ROU assets are amortized on a straight-line basis over the shorter of the useful life of the leased asset or the lease term. Interest expense on each finance lease liability is recognized utilizing the effective interest method. ROU assets are tested for impairment in the same manner as long-lived assets. Additionally, we monitor for events or changes in circumstances that may require a reassessment of one of our leases and determine if a remeasurement is required.

The table below presents the lease-related assets and liabilities recorded on the balance sheet at April 30, 2024 and October 31, 2023 (in thousands):


Leases	Classification	April 30, 2024		October 31, 2023
Assets
Operating lease assets	Operating lease right-of-use assets	$	65,019	$	46,620
Finance lease assets	Property, plant and equipment (less accumulated depreciation of $8,528 and $6,691)	60,135		58,496
Total lease assets		$	125,154	$	105,116

Liabilities
Current
Operating	Current operating lease liabilities	$	6,433	$	7,224
Finance	Current maturities of long-term debt	2,957		2,676
Noncurrent
Operating	Noncurrent operating lease liabilities	59,965		40,361
Finance	Long-term debt	52,260		52,309
Total lease liabilities		$	121,615	$	102,570

The table below presents the components of lease costs for the three and six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Operating lease cost	$	2,520	$	2,239	$	4,953	$	4,408
Finance lease cost
Amortization of leased assets	907		815		1,781		1,614
Interest on lease liabilities	618		602		1,231		1,202
Variable lease costs	487		467		938		790
Total lease cost	$	4,532	$	4,123	$	8,903	$	8,014

The table below presents supplemental cash flow information related to leases for the six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Six Months Ended
	April 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Finance leases - financing cash flows	$	1,382	$	1,145
Finance leases - operating cash flows	$	1,231	$	1,202
Operating leases - operating cash flows	$	4,550	$	4,513

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	21,834	$	2,169
Finance leases	$	1,228	$	25,206

The table below presents the weighted-average remaining lease terms and weighted-average discount rates for the Company's leases as of April 30, 2024 and October 31, 2023:


	April 30, 2024		October 31, 2023
Weighted-average remaining lease term (in years)
Operating leases	10.8		10.7
Financing leases	18.0		18.7

Weighted-average discount rate
Operating leases	4.62	%	4.09	%
Financing leases	4.56	%	4.52	%

The table below presents the maturity of the lease liabilities as of April 30, 2024 (in thousands):


	Operating Leases		Finance Leases
2024 (remaining six months)	$	4,580	$	2,687
2025	9,198		5,295
2026	9,055		5,136
2027	8,064		4,980
2028	7,248		4,817
Thereafter	48,531		58,406
Total lease payments	86,676		81,321
Less: present value discount	20,278		26,104
Total lease liabilities	$	66,398	$	55,217

Leases

The table below presents the lease-related assets and liabilities recorded on the balance sheet at April 30, 2024 and October 31, 2023 (in thousands):


Leases	Classification	April 30, 2024		October 31, 2023
Assets
Operating lease assets	Operating lease right-of-use assets	$	65,019	$	46,620
Finance lease assets	Property, plant and equipment (less accumulated depreciation of $8,528 and $6,691)	60,135		58,496
Total lease assets		$	125,154	$	105,116

Liabilities
Current
Operating	Current operating lease liabilities	$	6,433	$	7,224
Finance	Current maturities of long-term debt	2,957		2,676
Noncurrent
Operating	Noncurrent operating lease liabilities	59,965		40,361
Finance	Long-term debt	52,260		52,309
Total lease liabilities		$	121,615	$	102,570

The table below presents the components of lease costs for the three and six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Operating lease cost	$	2,520	$	2,239	$	4,953	$	4,408
Finance lease cost
Amortization of leased assets	907		815		1,781		1,614
Interest on lease liabilities	618		602		1,231		1,202
Variable lease costs	487		467		938		790
Total lease cost	$	4,532	$	4,123	$	8,903	$	8,014

The table below presents supplemental cash flow information related to leases for the six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Six Months Ended
	April 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Finance leases - financing cash flows	$	1,382	$	1,145
Finance leases - operating cash flows	$	1,231	$	1,202
Operating leases - operating cash flows	$	4,550	$	4,513

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	21,834	$	2,169
Finance leases	$	1,228	$	25,206

The table below presents the weighted-average remaining lease terms and weighted-average discount rates for the Company's leases as of April 30, 2024 and October 31, 2023:


	April 30, 2024		October 31, 2023
Weighted-average remaining lease term (in years)
Operating leases	10.8		10.7
Financing leases	18.0		18.7

Weighted-average discount rate
Operating leases	4.62	%	4.09	%
Financing leases	4.56	%	4.52	%

The table below presents the maturity of the lease liabilities as of April 30, 2024 (in thousands):


	Operating Leases		Finance Leases
2024 (remaining six months)	$	4,580	$	2,687
2025	9,198		5,295
2026	9,055		5,136
2027	8,064		4,980
2028	7,248		4,817
Thereafter	48,531		58,406
Total lease payments	86,676		81,321
Less: present value discount	20,278		26,104
Total lease liabilities	$	66,398	$	55,217

Nature of Operations and Basis of Presentation

6 Months Ended

Apr. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations and Basis of Presentation

Quanex Building Products Corporation is a global, publicly traded manufacturing company primarily serving original equipment manufacturers (OEMs) in the fenestration, cabinetry, solar, refrigeration and outdoor products markets. These components can be categorized as window and door (fenestration) components and kitchen and bath cabinet components. Examples of fenestration components include: (1) energy-efficient flexible insulating glass spacers, (2) extruded vinyl profiles, (3) window and door screens, and (4) precision-formed metal and wood products. We also manufacture cabinet doors and other components for OEMs in the kitchen and bathroom cabinet industry. In addition, we provide certain other non-fenestration components and products, which include custom mixing, solar panel sealants, trim moldings, vinyl decking, vinyl fencing, customized compounds, water retention barriers, and conservatory roof components. We have organized our business into three reportable business segments. For additional discussion of our reportable business segments, see Note 12, “Segment Information.” We use low-cost, short lead-time production processes and engineering expertise to provide our customers with specialized products for their specific window, door, and cabinet applications. We believe these capabilities provide us with unique competitive advantages. We serve a primary customer base in North America and the United Kingdom (U.K.), and also serve customers in international markets through our operating plants in the U.K. and Germany, as well as through sales and marketing efforts in other countries.

Unless the context indicates otherwise, references to “Quanex”, the “Company”, “we”, “us” and “our” refer to the consolidated business operations of Quanex Building Products Corporation and its subsidiaries.

Basis of Presentation and Principles of Consolidation

The accompanying interim unaudited condensed consolidated financial statements include the accounts of Quanex Building Products Corporation. All intercompany accounts and transactions have been eliminated in consolidation. These financial statements have been prepared by us, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet as of October 31, 2023 was derived from audited financial information but does not include all disclosures required by U.S. GAAP. The accompanying financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023. In our opinion, the accompanying financial statements contain all adjustments (which consist of normal recurring adjustments, except as disclosed herein) necessary to fairly present our financial position, results of operations and cash flows for the interim periods. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year or for any future periods.

Use of Estimates

In preparing financial statements, we make informed judgments and estimates that affect the reported amounts of assets and liabilities as of the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period. We review our estimates on an on-going basis, including those related to impairment of long-lived assets and goodwill, contingencies and income taxes. Changes in facts and circumstances may result in revised estimates and actual results may differ from these estimates.

Revenue from Contracts with Customers

Revenue recognition

We recognize revenue that reflects the consideration we expect to receive for product sales upon transfer to customers. Revenue for product sales is recognized when control of the promised products is transferred to our customers, and we are entitled to consideration in exchange for such transfer. We account for a contract when a customer provides us with a firm purchase order that identifies the products to be provided, the payment terms for those products, and when collectability of the consideration due is probable.

Performance obligations

A performance obligation is a promise to provide the customer with a good or service. Our performance obligations include product sales, with each product included in a customer contract being recognized as a separate performance obligation.

For contracts with multiple performance obligations, the standalone selling price of each product is generally readily observable.

Revenue from product sales is recognized at a point in time when the product is transferred to the customer, in accordance with the shipping terms, which is generally upon shipment. We estimate a provision for sales returns and warranty allowances to account for product returns related to general returns and product nonconformance.

We generally expense incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. Additionally, we do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Pricing and sales incentives

Pricing is established at or prior to the time of sale with our customers and we record sales at the agreed-upon net selling price, reflective of current and prospective discounts.

Shipping and handling costs

We account for shipping and handling services as fulfillment services; accordingly, freight revenue is combined with the product deliverable rather than being accounted for as a distinct performance obligation within the terms of the agreement. Shipping and handling costs incurred by us for the delivery of goods to customers are considered a cost to fulfill the contract and are included in cost of sales in the accompanying condensed consolidated statements of income.

Contract assets and liabilities

Deferred revenue, which is not significant, is recorded when we have remaining unsatisfied performance obligations for which we have received consideration.

Disaggregation of revenue

We produce a wide variety of products that are used in the fenestration industry, including window spacer systems; extruded vinyl products; metal fabricated products; and astragals, thresholds and screens. In addition, we produce certain non-fenestration products, including kitchen and bath cabinet doors and components, flooring and trim moldings, solar edge tape, plastic decking, fencing, water retention barriers, conservatory roof components, and other products.

The following table summarizes our product sales for the three and six months ended April 30, 2024 and 2023 into groupings by segment which we believe depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further details regarding our results by segment, refer to Note 12, “Segment Information.”


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
	(In thousands)
North American Fenestration:
United States - fenestration	$	119,646	$	120,756	$	231,280	$	241,523
International - fenestration	7,465		8,350		13,609		13,477
United States - non-fenestration	27,532		24,334		53,323		47,400
International - non-fenestration	5,131		3,535		9,557		7,555
	$	159,774	$	156,975	$	307,769	$	309,955
European Fenestration:

International - fenestration	$	46,968	$	47,903	$	88,719	$	90,257
International - non-fenestration	9,615		15,860		17,301		28,458
	$	56,583	$	63,763	$	106,020	$	118,715
North American Cabinet Components:
United States - fenestration	$	3,737	$	4,219	$	7,412	$	8,127
United States - non-fenestration	46,990		48,526		86,169		98,575
International - non-fenestration	351		773		634		1,490
	$	51,078	$	53,518	$	94,215	$	108,192
Unallocated Corporate & Other
Eliminations	$	(1,234)	$	(721)	$	(2,648)	$	(1,411)
	$	(1,234)	$	(721)	$	(2,648)	$	(1,411)
Net sales	$	266,201	$	273,535	$	505,356	$	535,451

Allowance for Credit Losses

We have established an allowance for credit losses to estimate the risk of losses, which represents an estimate of expected losses over the remaining contractual life of our receivables. The allowance is determined using two methods. The amounts calculated from each of these methods are combined to determine the total amount reserved. First, a specific reserve is established for individual accounts where information indicates the customers may have an inability to meet financial obligations. Second, a reserve is determined for all customers based on a range of percentages applied to aging categories. These percentages are based on historical collection rates, write-off experience, and forecasts of future economic conditions. Actual write-offs are charged against the allowance when collection efforts have been unsuccessful.

Related Parties

Net sales include transactions with a customer which is a related party with one of our non-employee directors for the six months ended April 30, 2024 and 2023 of approximately $0.5 million and $0.6 million, respectively. We performed a review of these transactions, of which no single transaction or series of related transactions exceeded $120,000 in amount, and determined that these transactions were enacted independently of each other. We are not aware of any other related party transactions with any of our current non-employee directors or officers outside of their normal business functions or expected contractual duties.

Earnings Per Share

6 Months Ended

Apr. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

We compute basic earnings per share by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per common and potential common shares include the weighted-average of additional shares associated with the incremental effect of dilutive employee stock options, non-vested restricted stock as determined using the treasury stock method prescribed by U.S. GAAP and contingent shares associated with performance share awards, if dilutive.

Basic and diluted earnings per share for the three and six months ended April 30, 2024 and 2023 were calculated as follows (in thousands, except per share data):


	Net Income		Weighted-Average Shares	Per Share
Three Months Ended April 30, 2024
Basic earnings per common share	$	15,377	32,870	$	0.47
Effect of dilutive securities:
Stock options	—		37	—
Restricted stock awards	—		130	—

Performance restricted stock units	—		66	—
Diluted earnings per common share	$	15,377	33,103	$	0.46
Three Months Ended April 30, 2023
Basic earnings per common share	$	21,512	32,858	$	0.65
Effect of dilutive securities:
Stock options	—		25	—
Restricted stock awards	—		106	—

Performance restricted stock units	—		28	—
Diluted earnings per common share	$	21,512	33,017	$	0.65
Six Months Ended April 30, 2024
Basic earnings per common share	$	21,626	32,847	$	0.66
Effect of dilutive securities:
Stock options	—		37	—
Restricted stock awards	—		126	—

Performance restricted stock units	—		66	—
Diluted earnings per common share	$	21,626	33,076	$	0.65
Six Months Ended April 30, 2023
Basic earnings per common share	$	23,421	32,905	$	0.71
Effect of dilutive securities:
Stock options	—		28	—
Restricted stock awards	—		109	—

Performance restricted stock units	—		28	—
Diluted earnings per common share	$	23,421	33,070	$	0.71

We do not include equity instruments in our calculation of diluted earnings per share if those instruments would be anti-dilutive. Such dilution is dependent on the excess of the market price of our stock over the exercise price and other components of the treasury stock method. There were no anti-dilutive instruments for the three and six months ended April 30, 2024 and 2023.

Leases - Present Maturity of Lease Liabilities (Details) $ in Thousands	Apr. 30, 2024 USD ($)
Operating Leases
2024 (remaining six months)	$ 4,580
2025	9,198
2026	9,055
2027	8,064
2028	7,248
Thereafter	48,531
Total lease payments	86,676
Less: present value discount	20,278
Total lease liabilities	66,398
Finance Leases
2024 (remaining six months)	2,687
2025	5,295
2026	5,136
2027	4,980
2028	4,817
Thereafter	58,406
Total lease payments	81,321
Less: present value discount	26,104
Total lease liabilities	$ 55,217

Debt and Finance Lease Obligations (Details) - USD ($)		6 Months Ended
Debt and Finance Lease Obligations (Details) - USD ($)	Jul. 06, 2022	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Debt Instrument [Line Items]
Unamortized deferred financing fees		$ 1,036,000		$ 1,200,000
Total debt		54,181,000		68,800,000
Current maturities of long-term debt		2,632,000		2,365,000
Long-term Debt		51,549,000		66,435,000
Letters of credit, outstanding		3,700,000
Finance lease obligations and other		55,200,000
Credit Facility, amount available		$ 321,300,000
Debt Instrument, Interest Rate During Period		6.69%	5.71%
Capital Lease Obligations
Debt Instrument [Line Items]
Total debt		$ 55,217,000		55,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility		0
Total debt		$ 0		$ 15,000,000
Credit Facility [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ (1,200,000)
Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Default interest rate		2.00%
Minimum Incremental Borrowing		$ 10,000,000
Maximum Incremental Borrowing		$ 150,000,000
Debt Instrument, Required Coverage Ratio		3.00
Debt Instrument, Required Leverage Ratio		3.25
Debt Instrument, Limitation on Annual Dividend		$ 25,000,000
Debt Instrument, Leverage Ratio Threshold for Limitations to Take Effect		2.75
Debt Instrument, Liquidity Threshold for Limitations to Take Effect		$ 25,000,000
Credit Facility [Member] \| Line of Credit [Member] \| Less than or equal to 1.50 to 1.00
Debt Instrument [Line Items]
Commitment fee percentage		0.15%
Credit Facility [Member] \| Line of Credit [Member] \| Greater than 1.50 to 1.00, but less than or equal to 2.25 to 1.00
Debt Instrument [Line Items]
Commitment fee percentage		0.175%
Credit Facility [Member] \| Line of Credit [Member] \| Greater than 2.25 to 1.00, but less than or equal to 3.00 to 1.00
Debt Instrument [Line Items]
Commitment fee percentage		0.20%
Credit Facility [Member] \| Line of Credit [Member] \| Greater than 3.00 to 1.00
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 325,000,000
Long-Term Debt, Term	5 years
Swing Line [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount		$ 15,000,000
Eurocurrency Rate Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Less than or equal to 1.50 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
Eurocurrency Rate Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 1.50 to 1.00, but less than or equal to 2.25 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Eurocurrency Rate Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 2.25 to 1.00, but less than or equal to 3.00 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Eurocurrency Rate Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 3.00 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Transitioned RFR Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Less than or equal to 1.50 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
Transitioned RFR Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 1.50 to 1.00, but less than or equal to 2.25 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Transitioned RFR Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 2.25 to 1.00, but less than or equal to 3.00 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Transitioned RFR Loans \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 3.00 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Base Rate [Member] \| Credit Facility [Member] \| Line of Credit [Member] \| Less than or equal to 1.50 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		0.25%
Base Rate [Member] \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 1.50 to 1.00, but less than or equal to 2.25 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Base Rate [Member] \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 2.25 to 1.00, but less than or equal to 3.00 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		0.75%
Base Rate [Member] \| Credit Facility [Member] \| Line of Credit [Member] \| Greater than 3.00 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock, Common
Balance at beginning of period at Oct. 31, 2022	$ 464,835	$ 372	$ 251,947	$ 337,456	$ (49,422)	$ (75,518)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,909			1,909
Foreign currency translation adjustment	11,372				11,372
Common dividends ($0.08 per share)	(2,661)			(2,661)
Stock-based compensation activity:
Expense related to stock-based compensation	679		679
Stock options exercised	99		6			93
Restricted stock awards granted			(1,752)			1,752
Performance restricted stock units vested			(605)			605
Other	(545)		(545)
Balance at end of period at Jan. 31, 2023	475,688	372	249,730	336,704	(38,050)	(73,068)
Balance at beginning of period at Oct. 31, 2022	464,835	372	251,947	337,456	(49,422)	(75,518)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,421
Balance at end of period at Apr. 30, 2023	492,727	372	250,427	355,557	(34,968)	(78,661)
Balance at beginning of period at Jan. 31, 2023	475,688	372	249,730	336,704	(38,050)	(73,068)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	21,512			21,512
Foreign currency translation adjustment	3,082				3,082
Common dividends ($0.08 per share)	(2,659)			(2,659)
Purchase of treasury stock	(5,593)					(5,593)
Stock-based compensation activity:
Expense related to stock-based compensation	719		719
Other	(22)		(22)
Balance at end of period at Apr. 30, 2023	492,727	372	250,427	355,557	(34,968)	(78,661)
Balance at beginning of period at Oct. 31, 2023	545,554	372	251,576	409,318	(38,141)	(77,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,249			6,249
Foreign currency translation adjustment	6,081				6,081
Common dividends ($0.08 per share)	(2,645)			(2,645)
Stock-based compensation activity:
Expense related to stock-based compensation	583		583
Stock options exercised	400		22			378
Restricted stock awards granted			(1,357)			1,357
Performance restricted stock units vested			(917)			917
Other	(1,193)	(1)	(1,192)
Balance at end of period at Jan. 31, 2024	555,029	371	248,715	412,922	(32,060)	(74,919)
Balance at beginning of period at Oct. 31, 2023	545,554	372	251,576	409,318	(38,141)	(77,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	21,626
Balance at end of period at Apr. 30, 2024	566,122	371	249,502	425,650	(34,631)	(74,770)
Balance at beginning of period at Jan. 31, 2024	555,029	371	248,715	412,922	(32,060)	(74,919)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,377			15,377
Foreign currency translation adjustment	(2,571)				(2,571)
Common dividends ($0.08 per share)	(2,649)			(2,649)
Stock-based compensation activity:
Expense related to stock-based compensation	782		782
Stock options exercised	154		5			149
Balance at end of period at Apr. 30, 2024	$ 566,122	$ 371	$ 249,502	$ 425,650	$ (34,631)	$ (74,770)

Retirement Plans (Tables)

6 Months Ended

Apr. 30, 2024

Retirement Benefits [Abstract]

Net Periodic Pension Cost

The net periodic pension (benefit) cost for this plan for the three and six months ended April 30, 2024 and 2023 was as follows (in thousands):


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Service cost	$	—	$	96	$	—	$	192
Interest cost	—		389		—		779
Expected return on plan assets	—		(367)		—		(733)
Amortization of net loss	—		11		—		21
Settlement reimbursement	(138)		—		(903)		—
Net periodic pension (benefit) cost	$	(138)	$	129	$	(903)	$	259

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Earnings Per Share Disclosure [Line Items]
Basic earnings per common share	$ 15,377	$ 21,512	$ 21,626	$ 23,421
Diluted earnings per common share	$ 15,377	$ 21,512	$ 21,626	$ 23,421
Basic (in shares)	32,870	32,858	32,847	32,905
Diluted (in shares)	33,103	33,017	33,076	33,070
Basic earnings per common share	$ 0.47	$ 0.65	$ 0.66	$ 0.71
Diluted earnings per common share	$ 0.46	$ 0.65	$ 0.65	$ 0.71
Stock Options
Earnings Per Share Disclosure [Line Items]
Weighted Average Number Diluted Shares Outstanding Adjustment	37	25	37	28
Restricted Stock Awards (RSAs)
Earnings Per Share Disclosure [Line Items]
Weighted Average Number Diluted Shares Outstanding Adjustment	130	106	126	109
Performance Restricted Stock Units
Earnings Per Share Disclosure [Line Items]
Weighted Average Number Diluted Shares Outstanding Adjustment	66	28	66	28

Segment Information Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 266,201	$ 273,535	$ 505,356	$ 535,451
Depreciation and amortization	10,894	10,456	22,046	21,076
Operating income (loss)	20,637	29,336	28,554	33,739
Capital expenditures	7,603	7,492	17,183	15,074
Total assets	837,213		837,213		$ 831,143
Operating Segments \| NA Fenestration
Segment Reporting Information [Line Items]
Net sales	159,774	156,975	307,769	309,955
Depreciation and amortization	5,218	5,050	10,693	10,295
Operating income (loss)	18,565	15,295	26,807	25,018
Capital expenditures	5,739	4,859	11,460	8,472
Total assets	392,108		392,108		379,286
Operating Segments \| EU Fenestration
Segment Reporting Information [Line Items]
Net sales	56,583	63,763	106,020	118,715
Depreciation and amortization	2,538	2,353	5,096	4,701
Operating income (loss)	10,478	12,506	17,909	19,902
Capital expenditures	605	1,100	2,406	3,056
Total assets	239,277		239,277		239,333
Operating Segments \| NA Cabinet Components
Segment Reporting Information [Line Items]
Net sales	51,078	53,518	94,215	108,192
Depreciation and amortization	3,082	2,970	6,147	5,904
Operating income (loss)	306	846	(3,491)	(343)
Capital expenditures	1,099	1,481	2,935	3,341
Total assets	154,833		154,833		158,824
Corporate Non-Segment
Segment Reporting Information [Line Items]
Net sales	(1,234)	(721)	(2,648)	(1,411)
Depreciation and amortization	56	83	110	176
Operating income (loss)	(8,712)	689	(12,671)	(10,838)
Capital expenditures	160	$ 52	382	$ 205
Total assets	$ 50,995		$ 50,995		$ 53,700

Segment Information

6 Months Ended

Apr. 30, 2024

Segment Reporting [Abstract]

Segment Information

We present three reportable business segments (1) NA Fenestration, comprising four operating segments primarily focused on the fenestration market in North America including vinyl profiles, insulating glass spacers, screens, custom compound mixing, and other fenestration components; (2) EU Fenestration, comprising our U.K.-based vinyl extrusion business, manufacturing vinyl profiles & conservatories, and the European insulating glass business manufacturing insulating glass spacers; and (3) NA Cabinet Components, comprising our cabinet door and components operations. Additionally, we maintain an Unallocated Corporate & Other which includes transaction expenses, stock-based compensation, long-term incentive awards based on the performance of our common stock and other factors, certain severance, legal, and other costs not deemed to be allocable to all segments, depreciation of corporate assets, interest expense, other, net, income taxes and inter-segment eliminations, and executive incentive compensation and medical expense fluctuations relative to planned costs as determined during the annual planning process. Other general and administrative costs associated with the corporate office are allocated to the reportable segments, based upon a relative measure of profitability in order to more accurately reflect each reportable business segment's administrative costs. We allocate corporate expenses to businesses acquired mid-year from the date of acquisition. The accounting policies of our operating segments are the same as those used to prepare the accompanying condensed consolidated financial statements. Corporate general and administrative expense allocated during the three and six month period ended April 30, 2024 was $6.9 million and $14.2 million, respectively, and $6.1 million and $10.8 million for the comparable prior year periods.

ASC Topic 280-10-50, “Segment Reporting” (ASC 280) permits aggregation of operating segments based on factors including, but not limited to: (1) similar nature of products serving the building products industry, primarily the fenestration business; (2) similar production processes, although there are some differences in the amount of automation amongst operating plants; (3) similar types or classes of customers, namely the primary OEMs; (4) similar distribution methods for product delivery, although the extent of the use of third-party distributors will vary amongst the businesses; (5) similar regulatory environment; and (6) converging long-term economic similarities.

Segment information for the three and six months ended April 30, 2024 and 2023, and total assets as of April 30, 2024 and October 31, 2023 are summarized in the following table (in thousands):


	NA Fenestration		EU Fenestration		NA Cabinet Components		Unallocated Corp. & Other		Total
Three Months Ended April 30, 2024
Net sales	$	159,774	$	56,583	$	51,078	$	(1,234)	$	266,201
Depreciation and amortization	5,218		2,538		3,082		56		10,894
Operating income (loss)	18,565		10,478		306		(8,712)		20,637
Capital expenditures	5,739		605		1,099		160		7,603
Three Months Ended April 30, 2023
Net sales	$	156,975	$	63,763	$	53,518	$	(721)	$	273,535
Depreciation and amortization	5,050		2,353		2,970		83		10,456
Operating income	15,295		12,506		846		689		29,336
Capital expenditures	4,859		1,100		1,481		52		7,492
Six Months Ended April 30, 2024
Net sales	$	307,769	$	106,020	$	94,215	$	(2,648)	$	505,356
Depreciation and amortization	10,693		5,096		6,147		110		22,046
Operating income (loss)	26,807		17,909		(3,491)		(12,671)		28,554
Capital expenditures	11,460		2,406		2,935		382		17,183
Six Months Ended April 30, 2023
Net sales	$	309,955	$	118,715	$	108,192	$	(1,411)	$	535,451
Depreciation and amortization	10,295		4,701		5,904		176		21,076
Operating income (loss)	25,018		19,902		(343)		(10,838)		33,739
Capital expenditures	8,472		3,056		3,341		205		15,074
As of April 30, 2024
Total assets	$	392,108	$	239,277	$	154,833	$	50,995	$	837,213
As of October 31, 2023
Total assets	$	379,286	$	239,333	$	158,824	$	53,700	$	831,143

The following table summarizes the change in the carrying amount of goodwill by reportable business segment for the six months ended April 30, 2024 (in thousands):


	NA Fenestration		EU Fenestration		NA Cabinet Comp.		Unallocated Corp. & Other		Total
Balance as of October 31, 2023	$	80,105	$	63,704	$	39,147	$	—	$	182,956


Foreign currency translation adjustment	—		1,525		—		—		1,525
Balance as of April 30, 2024	$	80,105	$	65,229	$	39,147	$	—	$	184,481

For further details of Goodwill, see Note 5, “Goodwill & Intangible Assets,” located herewith.


	Three Months Ended				Six Months Ended
	April 30,				April 30,
	2024		2023		2024		2023
Operating income	$	20,637	$	29,336	$	28,554	$	33,739
Interest expense	(950)		(2,244)		(2,018)		(4,503)
Other, net	4		(29)		1,046		189
Income tax expense	(4,314)		(5,551)		(5,956)		(6,004)
Net income	$	15,377	$	21,512	$	21,626	$	23,421

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
Segment Information (Details) $ in Millions	Apr. 30, 2024 USD ($)	Apr. 30, 2023 USD ($)	Apr. 30, 2024 USD ($) segment	Apr. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments			3
Allocated corporate general and administrative expense \| $	$ 6.9	$ 6.1	$ 14.2	$ 10.8
Operating Segments \| NA Fenestration
Segment Reporting Information [Line Items]
Number of operating segments			4

Inventories (Detail) - USD ($) $ in Thousands	Apr. 30, 2024	Oct. 31, 2023
Inventory, Raw Materials and Supplies, Net of Reserves [Abstract]
Raw materials	$ 60,259	$ 53,585
Finished goods and work in process	39,683	42,195
Supplies and other	1,504	2,179
Inventories	$ 101,446	$ 97,959

Subsequent Events (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Apr. 30, 2024 USD ($) $ / shares	May 02, 2024 USD ($)	Apr. 30, 2024 £ / shares
Tyman [Member]
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross \| $	$ 1,100
Business Acquisition, Share Price \| £ / shares			£ 2.40
New Quanex Shares - Main Offer \| $ / shares	$ 0.05715
New Quanex Shares - Main Offer Alternative \| $ / shares	$ 0.14288
Capped All-Share Alternative	25.00%		25.00%
Subsequent Event
Subsequent Event [Line Items]
Derivative, Notional Amount \| $		$ 605

Nature of Operations and Basis of Presentation Summary of Product Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Product Information [Line Items]
Total sales	$ 266,201	$ 273,535	$ 505,356	$ 535,451
Operating Segments \| NA Fenestration
Product Information [Line Items]
Total sales	159,774	156,975	307,769	309,955
Operating Segments \| NA Fenestration \| United States \| Fenestration [Member]
Product Information [Line Items]
Total sales	119,646	120,756	231,280	241,523
Operating Segments \| NA Fenestration \| United States \| Non-fenestration [Member]
Product Information [Line Items]
Total sales	27,532	24,334	53,323	47,400
Operating Segments \| NA Fenestration \| International \| Fenestration [Member]
Product Information [Line Items]
Total sales	7,465	8,350	13,609	13,477
Operating Segments \| NA Fenestration \| International \| Non-fenestration [Member]
Product Information [Line Items]
Total sales	5,131	3,535	9,557	7,555
Operating Segments \| EU Fenestration
Product Information [Line Items]
Total sales	56,583	63,763	106,020	118,715
Operating Segments \| EU Fenestration \| International \| Fenestration [Member]
Product Information [Line Items]
Total sales	46,968	47,903	88,719	90,257
Operating Segments \| EU Fenestration \| International \| Non-fenestration [Member]
Product Information [Line Items]
Total sales	9,615	15,860	17,301	28,458
Operating Segments \| NA Cabinet Components
Product Information [Line Items]
Total sales	51,078	53,518	94,215	108,192
Operating Segments \| NA Cabinet Components \| United States \| Fenestration [Member]
Product Information [Line Items]
Total sales	3,737	4,219	7,412	8,127
Operating Segments \| NA Cabinet Components \| United States \| Non-fenestration [Member]
Product Information [Line Items]
Total sales	46,990	48,526	86,169	98,575
Operating Segments \| NA Cabinet Components \| International \| Non-fenestration [Member]
Product Information [Line Items]
Total sales	351	773	634	1,490
Corporate Non-Segment
Product Information [Line Items]
Total sales	$ (1,234)	$ (721)	$ (2,648)	$ (1,411)

Stock-Based Compensation - Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Grants (in shares)	26,215	38,704
Granted (in usd per share)	$ 26.70	$ 20.67
Cash paid to settle vested units	$ 600	$ 400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	21,774
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares)	49,228

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Earnings Per Share (Tables)

6 Months Ended

Apr. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic and diluted earnings per share for the three and six months ended April 30, 2024 and 2023 were calculated as follows (in thousands, except per share data):


	Net Income		Weighted-Average Shares	Per Share
Three Months Ended April 30, 2024
Basic earnings per common share	$	15,377	32,870	$	0.47
Effect of dilutive securities:
Stock options	—		37	—
Restricted stock awards	—		130	—

Performance restricted stock units	—		66	—
Diluted earnings per common share	$	15,377	33,103	$	0.46
Three Months Ended April 30, 2023
Basic earnings per common share	$	21,512	32,858	$	0.65
Effect of dilutive securities:
Stock options	—		25	—
Restricted stock awards	—		106	—

Performance restricted stock units	—		28	—
Diluted earnings per common share	$	21,512	33,017	$	0.65
Six Months Ended April 30, 2024
Basic earnings per common share	$	21,626	32,847	$	0.66
Effect of dilutive securities:
Stock options	—		37	—
Restricted stock awards	—		126	—

Performance restricted stock units	—		66	—
Diluted earnings per common share	$	21,626	33,076	$	0.65
Six Months Ended April 30, 2023
Basic earnings per common share	$	23,421	32,905	$	0.71
Effect of dilutive securities:
Stock options	—		28	—
Restricted stock awards	—		109	—

Performance restricted stock units	—		28	—
Diluted earnings per common share	$	23,421	33,070	$	0.71

Goodwill and Intangible Assets - Goodwill (Details)	6 Months Ended
Goodwill and Intangible Assets - Goodwill (Details)	Apr. 30, 2024 USD ($) reporting_unit
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reporting units \| reporting_unit	5
Goodwill, impairment loss	$ 0
Goodwill [Roll Forward]
Beginning balance	182,956,000
Foreign currency translation adjustment	1,525,000
Balance as of the end of the period	$ 184,481,000

- Definition

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