American Woodmark Corp - AMWD STOCK NEWS

American Woodmark Corporation (NASDAQ: AMWD) has appointed Latasha Akoma to its board of directors. Currently serving as Operating Partner and Chief Compliance Officer at GENNX360, Akoma brings significant experience from her tenure at Harley-Davidson, including roles as Director of Operations and General Manager. She holds an MBA from Northwestern’s Kellogg School of Management and degrees in Engineering Management and Mechanical Engineering. Her operational expertise is expected to enhance the board's capabilities and contribute positively to the company's growth.

American Woodmark Corporation has initiated a national supply chain transformation by implementing Tecsys' Elite™ WMS software across its distribution facilities. This project, begun in April 2021, aims to enhance operational efficiency amid rising material and logistics costs. The rollout will optimize logistics resources, improve business intelligence, and ensure better inventory visibility. The initiative is vital as the company seeks to adapt to market fluctuations and improve operational costs.

American Woodmark Corporation (NASDAQ: AMWD) reported a 1.0% increase in net sales for Q2 FY 2022, reaching $453.2 million, driven primarily by growth in the new construction channel. However, net income dropped significantly to $2.0 million from $23.1 million year-over-year, attributed to inflationary pressures. Adjusted EBITDA declined by 53.4% to $30.8 million. Despite challenges in labor and supply chains, the company expects future pricing actions to enhance margins. Cash flow was negative at $(37.3) million due to increased inventory and other factors.

American Woodmark Corporation (NASDAQ: AMWD) will host a live webcast on November 23, 2021, at 11:00 a.m. ET, to discuss its second-quarter results. The conference call can be accessed via their official website, with a replay available for 30 days. A telephonic replay will also be offered from November 23 at 2:00 p.m. ET to November 30. As one of the largest cabinet manufacturers in the U.S., American Woodmark employs over 10,000 staff and collaborates with a wide range of partners to fulfill customer needs.

American Woodmark Corporation (NASDAQ: AMWD) reported a 13.5% increase in net sales, reaching $442.6 million for Q1 of fiscal 2022. However, net income fell to $3.0 million ($0.18 per share) from $16.1 million ($0.94 per share) year-over-year, largely due to inflationary pressures. Adjusted EBITDA decreased 43.1% to $32.1 million, with a net income margin of 0.7%. The company is working on pricing strategies to combat inflation and expects improved results in the second half of fiscal 2022. Operating cash flow was $6.6 million, with $27.8 million in cash available.

American Woodmark Corporation (NASDAQ: AMWD) will host a conference call on August 31, 2021, to discuss its first quarter results. The live webcast will start at 11:00 a.m. Eastern Time, with an online replay available for 30 days. Telephonic replay will be accessible from 2:00 p.m. on August 31 until September 7, 2021. American Woodmark manufactures kitchen, bath, and home organization products and operates 17 manufacturing facilities across the U.S. and Mexico.

American Woodmark Corporation (NASDAQ: AMWD) reported a fourth fiscal quarter net sales increase of 18.6% to $473.4 million, driven by strong demand across all channels. Despite the growth, net income dropped to $2.8 million from $13.0 million in the same quarter last year, impacted by a $13.8 million pre-tax loss on debt modification and rising material costs. For the fiscal year, net income was $58.8 million, down from $74.9 million. The Board authorized a $100 million stock repurchase program to enhance shareholder value.

American Woodmark Corporation (NASDAQ: AMWD) will host an online conference call to discuss its fourth-quarter results on May 27, 2021, starting at 11:00 a.m. ET. The live broadcast will be accessible via the company's website, with a replay available for 30 days post-event. The company operates 17 manufacturing facilities across the U.S. and Mexico, catering to the remodeling and new home construction markets.

American Woodmark Corporation (NASDAQ: AMWD) has amended its senior secured credit facility, securing a $500 million revolving loan and a $250 million term loan, both maturing on April 22, 2026. The company utilized these funds to fully repay its previous credit facility and to facilitate the redemption of its 4.875% Senior Notes due 2026. This new facility is guaranteed by the company’s domestic subsidiaries and is secured by personal property. As of January 31, 2021, the company operates seventeen manufacturing facilities across the U.S. and Mexico.