Quanex Building Products reported a material top-line expansion in Q4 2024 driven by the August 2024 acquisition of Tyman, with net sales of $492.2 million, up approximately 67% year-over-year versus $295.5 million in Q4 2023. Excluding Tyman, quarterly net sales would have declined ~2.3% YoY and full-year sales would have fallen ~5% amid softer volumes, underscoring the acquisition-driven delta rather than organic growth alone. Net income for the quarter was negative at $13.9 million ($0.30 per diluted share), driven by integration costs and one-time items, while adjusted EBITDA rose 59.6% to $81.1 million. For the full-year 2024, adjusted EBITDA reached a record $182.4 million, up 14.3% YoY, with an adjusted EBITDA margin improvement of ~20 basis points despite a difficult macro backdrop. The company entered 2025 with a stated plan to reorganize around three new segments—hardware solutions, extruded solutions, and custom solutions—intended to maximize synergies, share best practices globally, and expand margins as volumes recover. Net cash provided by operating activities for the year was $88.8 million, while free cash flow was $51.7 million (guidance notes suggest a normalized FCF closer to $89 million excluding Tyman-related one-time costs). Quanex ended the year with a leverage ratio ~2.3x, and disclosed a quarterly debt compliance ratio consistent with pro forma adjustments for the Tyman acquisition. Management signaled a constructive, but cautious, near-term demand outlook with a meaningful volume uptick anticipated in the second half of 2025 as consumer confidence improves in a lower-rate environment and pent-up demand unwinds. Investor Day is scheduled for February 6, 2025 to unveil the restructured company and initial 2025 guidance.