Quanex Building Products Corporation (NYSE:NX) Q4 2022 Earnings Conference Call December 16, 2022 11:00 AM ET
Company Participants
George Wilson - President and Chief Executive Officer
Scott Zuehlke - Senior Vice President, Chief Financial Officer and Treasurer
Conference Call Participants
Daniel Moore - CJS Securities
Reuben Garner - The Benchmark Company
Julio Romero - Sidoti & Company
Christian Zyla - KeyBanc Capital Markets
Operator
Good day and thank you for standing by. Welcome to the Quanex Building Products Q4 and Fiscal Year 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operation instructions]
Please be advised that today's conference is being recorded. I would now hand the conference over to your speaker today, Scott Zuehlke, SVP, CFO, and Treasurer. Please go ahead.
Scott Zuehlke
Thanks for joining the call this morning. On the call with me today is George Wilson, our President and CEO. This conference call will contain forward-looking statements and some discussion of non-GAAP measures. Forward-looking statements and guidance discussed on this call and in our earnings release are based on current expectations.
Actual results or events may differ materially from such statements and guidance, and Quanex undertakes no obligation to update or revise any forward-looking statements to reflect new information or events. For a more detailed description of our forward-looking statement disclaimer and a reconciliation of non-GAAP measures to the most directly comparable GAAP measures, please see our earnings release issued yesterday and posted to our website. I'll now discuss our financial results on a consolidated basis, followed by comments on the results for each operating segment. On a consolidated basis, we reported net sales of $307.5 million during the fourth quarter of 2022, which represents growth of 5.4% compared to $298.1 million for the same period of 2021.
We reported net sales of $1.22 billion for the full-year, which represents growth of 13.9% compared to $1.07 billion for 2021. The increases were primarily attributable to higher prices related to the pass through of raw material cost inflation. Net income increased by 18% to $24.7 million or $0.75 per diluted share during the three months ended October 31 2022 compared to $20.9 million or $0.62 per diluted share during the three months ended October 31 2021.
For the full-year 2022, net income increased by 55% to $88.3 million or $2.66 per diluted share, compared to $57 million or $1.70 per diluted share for full-year 2021. On an adjusted basis, EBITDA for the quarter increased by 3.8% to $38.7 million compared to $37.3 million during the same period of last year.