Amer Woodmk Stock Price, News & Analysis

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.

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.