Amer Woodmk Stock Price, News & Analysis

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.

American Woodmark Corporation (NASDAQ: AMWD) announced a conditional full redemption of its $350 million 4.875% Senior Notes due 2026. The redemption, scheduled for April 26, 2021, hinges on securing a senior secured credit facility to refinance existing debts. The redemption price is set at 102.438% of the principal amount, plus accrued interest. This announcement does not constitute a formal notice of redemption and is subject to the company's discretion regarding conditions. American Woodmark specializes in kitchen, bath, and home organization products, operating 17 manufacturing facilities across the U.S. and Mexico.

American Woodmark Corporation (NASDAQ: AMWD) reported a 9.1% increase in net sales for Q3 FY2021, totaling $432.0 million, driven by growth in both repair and remodel and new construction sales channels. Net income reached $17.2 million ($1.01 per diluted share), up from $12.8 million ($0.75 per diluted share) in the same quarter last year. However, net income for the first nine months declined to $55.9 million from $61.8 million year-over-year. Adjusted EBITDA increased to $54.1 million, while cash provided by operations was $107.5 million. The company remains focused on ramping up production to meet demand and addressing inflationary pressures.

American Woodmark Corporation (NASDAQ: AMWD) announced the appointment of Emily Videtto to its board of directors. Videtto is currently the Vice President and Chief Marketing Officer at Pella Corporation and has extensive experience in the consumer durables sector, having previously served at GAF, a leading roofing manufacturer. Her marketing and innovation expertise is expected to enhance the board's strategic planning. The company's chairman expressed enthusiasm for her insights into customer experience, which will guide future investments.

American Woodmark Corporation (NASDAQ: AMWD) will conduct a live online conference call on February 25, 2021, at 11:00 a.m. Eastern Time to discuss its third-quarter results. The webcast will be available on their website, with immediate replay for 30 days. A telephonic replay will also be available from 2:00 p.m. Eastern Time on February 25 until 2:00 p.m. on March 4. The company specializes in manufacturing and distributing kitchen, bath, and home organization products across the U.S. and Mexico, operating 17 manufacturing facilities and a distribution center.

American Woodmark Corporation (NASDAQ: AMWD) reported a 4.8% increase in net sales for Q2 fiscal 2021, totaling $448.6 million, driven by strong growth in the repair and remodel channel. However, net sales decreased 2.0% for the first half to $838.7 million. Net income for Q2 was $22.3 million ($1.31 per diluted share), slightly up from the previous year but affected by higher materials and logistics costs. Adjusted EBITDA was $65.0 million (14.5% of sales), with restructuring costs of $2.8 million. Cash on hand stood at $112.6 million, with no term loan maturities until December 2022.

American Woodmark Corporation (NASDAQ: AMWD) will host a live online webcast of its second-quarter results conference call on November 24, 2020, at 11:00 a.m. Eastern Time. The webcast will be accessible on their website and will be followed by a replay available for 30 days. Additionally, a telephonic replay will be offered from 2:00 p.m. Eastern Time on November 24 until 2:00 p.m. December 1. American Woodmark manufactures kitchen, bath, and home organization products, operating 17 facilities across the U.S. and Mexico.

American Woodmark Corporation (NASDAQ: AMWD) reported an 8.7% decline in net sales for Q1 fiscal 2021, totaling $390.1 million due to COVID-19's impact on both remodel and new construction markets.

Net income fell to $16.5 million ($0.97 per diluted share), down from $26.9 million ($1.59 per diluted share) year-over-year. The company faced restructuring costs of $3.5 million and a decline in adjusted EBITDA to $57.0 million (14.6% of net sales). Cash flow remained stable with $40.0 million from operations and $128.1 million in cash on hand.

American Woodmark Corporation (NASDAQ: AMWD) announced new board appointments on August 21, 2020. David Rodriguez, EVP and CHRO at Marriott International, and Scott Culbreth, current President and CEO, will strengthen the board. Rodriguez brings extensive HR expertise from managing a large workforce globally, while Culbreth's operational knowledge enhances board insights. Chairman Vance Tang expressed confidence in their contributions, aiming to build upon the company's culture as a competitive advantage. American Woodmark manufactures cabinetry for new construction and remodeling, operating eighteen facilities in the U.S. and Mexico.