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American Woodmark Corporation (NASDAQ: AMWD) is a leading manufacturer and distributor of kitchen and bath cabinets catering to remodeling and new home construction markets. Headquartered in Winchester, VA, the company operates nine manufacturing facilities across various states, including Arizona, Georgia, Indiana, Kentucky, Maryland, Tennessee, Virginia, and West Virginia, alongside nine builder centers nationwide. As a fully integrated, just-in-time (JIT) cabinet manufacturer, American Woodmark ensures that its products are delivered efficiently and promptly.
The company boasts an extensive product line under major brands such as American Woodmark™, Simply Woodmark, Timberlake, Shenandoah Cabinetry, Shenandoah Value Series, and Waypoint Living Spaces. Their products are known for their quality and durability, featuring TuffTech® and BeautyGuard® finishes designed to resist scuffs, scratches, fading, and moisture.
American Woodmark's cupboards and vanities are certified by the Kitchen Cabinet Manufacturers Association (KCMA) Environmental Stewardship Program, underscoring the company's commitment to sustainable practices. Their products are available nationwide through major home centers, builders, and independent dealers and distributors, ensuring a broad market reach.
In fiscal year 2024, American Woodmark reported notable financial achievements despite a declining sales environment. Net income saw a significant increase of 24.0% year-over-year to $116.2 million, while Adjusted EBITDA grew by 5.2% year-over-year to $252.8 million. The company also repurchased 1,108,715 shares for $87.7 million, reflecting its robust financial health and commitment to returning value to shareholders.
American Woodmark continues to expand its product offerings and market presence. Notably, they introduced the 1951 Cabinetry™ brand, catering specifically to distributors with a wide range of styles blending timeless and contemporary designs.
The company remains focused on customer satisfaction, integrity, teamwork, and excellence across all facets of its operations, from manufacturing to customer service. With over 8,800 employees, American Woodmark is dedicated to fostering creativity and helping customers transform their homes into spaces for self-expression. Visit americanwoodmark.com to learn more.
American Woodmark Corporation (NASDAQ: AMWD) reported a 4.6% increase in net sales for Q3 fiscal 2023, reaching $480.7 million, driven by growth in builder and distributor channels. Year-to-date net sales surged 16.9% to $1,585.1 million. The company turned a net income of $14.7 million ($0.88 per diluted share) compared to a net loss of $49.3 million in the same quarter last year, aided by the absence of prior pension settlement charges. Adjusted EBITDA rose to $51.0 million, a significant 66.8% increase. Cash flows improved, with $110.8 million generated from operations and a free cash flow of $91.5 million. The company anticipates low double-digit net sales growth and adjusted EBITDA margins for the full fiscal year.
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