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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 strong financial results for Q2 of fiscal 2023, ending October 31, 2022. Net sales surged by $108.3 million, or 23.9%, to reach $561.5 million, driven by growth across all sales channels. Net income soared to $28.8 million ($1.73 per diluted share) from $2.0 million ($0.12 per diluted share) year-over-year. The company also noted a significant increase in adjusted EBITDA, up 119.6% to $67.6 million. Free cash flow improved to $44.4 million, largely due to higher operating cash flows and lower capital spending.
American Woodmark Corporation (NASDAQ: AMWD) will host an online conference call on November 22, 2022, to discuss its second quarter results. The live webcast starts at 11:00 a.m. Eastern Time and will be accessible via their official website. Following the live event, a replay will be available for 30 days. A telephonic replay can also be accessed from 2:00 p.m. on November 22 until 2:00 p.m. on November 29 by calling 877-344-7529 with passcode 9509432.
American Woodmark Corporation (NASDAQ: AMWD) plans to enhance its stock kitchen and bath cabinet capacity on the east coast with a $65 million investment over two years. This initiative will create over 500 jobs through a 500,000+ square foot expansion in North Carolina and Mexico. The project aims to improve the supply chain and meet growing demand in one of the largest markets for repairs, remodeling, and new constructions. The investment will be funded through available cash and borrowings from its credit facility.
American Woodmark Corporation (NASDAQ: AMWD) is set to expand operations in Hamlet, North Carolina, creating 131 jobs as announced by Governor Roy Cooper. The expansion will enhance production capacity for the company’s kitchen and bath cabinetry, addressing growing demand in the eastern U.S. The average salary for these new positions will be $44,748, surpassing Richmond County's average of $38,035. This project, supported by a Job Development Investment Grant, is projected to boost the state economy by $185.8 million over 12 years.
American Woodmark Corporation (NASDAQ: AMWD) reported a strong first quarter for fiscal 2023, ending July 31, 2022, with net sales rising 22.7% to $542.9 million, driven by growth across all sales channels. Net income surged to $20.1 million ($1.21 per diluted share), a significant increase from $3.0 million ($0.18 per diluted share) year-over-year. Adjusted EBITDA also grew 76.0% to $56.5 million, representing 10.4% of net sales. Despite challenges from rising material and logistics costs, the company generated $32.7 million in free cash flow and successfully reduced debt by $20.6 million during the quarter.
American Woodmark Corporation (NASDAQ: AMWD) will host a live webcast of its conference call discussing first quarter results on August 30, 2022, at 11:00 a.m. ET. The call can be accessed at americanwoodmark.com. A replay will be available for 30 days, with a telephonic replay from 2:00 p.m. ET on August 30 until 2:00 p.m. ET on September 6 by calling 877-344-7529 and entering passcode 2426449. The company, a leading cabinet manufacturer, emphasizes customer satisfaction and creativity.
American Woodmark Corporation (NASDAQ: AMWD) announced its fourth fiscal quarter and full year results for the period ending April 30, 2022. Net sales rose by $28.3 million (6.0%) to $501.7 million for the fourth quarter, while full-year sales increased by $113.2 million (6.5%) to $1,857.2 million. Net income for Q4 was $14.5 million, up from $3.6 million a year prior, driven by sales growth. However, the annual net loss was $29.7 million due to pension settlement charges and ongoing cost pressures. Adjusted EBITDA for Q4 was $44.5 million (8.9% of sales), compared to $48.2 million (10.2%) last year.
American Woodmark Corporation (NASDAQ: AMWD) announced that Carol Moerdyk will not seek re-election to the Board of Directors at the upcoming annual shareholders meeting. Moerdyk has served for 17 years and was involved in various committees. The Board expressed gratitude for her contributions and emphasized the opportunity for new perspectives with the addition of Latasha Akoma, who brings experience in manufacturing operations. CEO Scott Culbreth praised Moerdyk’s commitment and impact on the company during her tenure.
American Woodmark Corporation (NASDAQ: AMWD) will host a live webcast of its fourth-quarter results conference call on Thursday, May 26, 2022, at 11:00 a.m. ET. The call can be accessed online at americanwoodmark.com and will include a replay available for 30 days. A telephonic replay will also be offered from 2:00 p.m. ET on May 26 to 2:00 p.m. ET on June 2, accessible by calling 877-344-7529 and entering passcode 2086960. American Woodmark remains committed to quality and customer satisfaction.
American Woodmark Corporation (NASDAQ: AMWD) reported a net sales increase of $27.8 million (6.4%) to $459.7 million in Q3 FY2022. However, the company faced a net loss of $49.3 million ($2.97 per diluted share) mainly due to $69.5 million pension settlement charges. Adjusted EBITDA dropped 45.2% to $30.6 million, attributed to labor absenteeism and supply chain issues. Despite challenges, the company forecasts a $25 million increase in pricing actions for Q4 FY2022. As of January 31, 2022, AMWD had $0.9 million in cash and $227 million available under its revolving facility.
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