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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) 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.
American Woodmark Corporation (NASDAQ: AMWD) will host a conference call to discuss its third quarter results on February 24, 2022, at 11:00 a.m. Eastern Time. The live webcast can be accessed at www.americanwoodmark.com. A replay will be available for 30 days following the call, with a telephonic replay from 2:00 p.m. Eastern Time on February 24 to 2:00 p.m. Eastern Time on March 3, at 877-344-7529 (passcode 6445032). American Woodmark is one of the largest cabinet manufacturers in the U.S., driven by a commitment to customer satisfaction and integrity.
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.
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