Sales drop and goodwill hit weigh on American Woodmark (NASDAQ: AMWD)

Rhea-AI Filing Summary

American Woodmark reported a weak third fiscal quarter 2026 as housing demand softened and tariffs weighed on results. Net sales fell 18.4% to $324.3 million, and the company posted a net loss of $28.7 million, or $(1.97) per diluted share, including a $30.1 million non-cash goodwill impairment.

Adjusted EPS was $0.45 versus $1.05 a year earlier, and Adjusted EBITDA dropped to $21.6 million, or 6.7% of net sales, from $38.4 million, or 9.7%. For the first nine months, net sales declined 14.3% to $1,122.0 million, with a $8.0 million net loss and Adjusted EBITDA of $103.5 million, down from $161.5 million.

As of January 31, 2026, the company had $28.3 million in cash, total debt of $369.1 million, and net leverage of 2.26. Free cash flow for the first nine months was $2.1 million, and the company repurchased 209,757 shares for $12.4 million. Management is focused on cost reductions, tariff mitigation, and closing the pending merger with MasterBrand, Inc., and will not hold an earnings call or provide updated guidance.

Positive

• None.

Negative

• Significant revenue decline and loss: Q3 net sales fell 18.4% to $324.3 million and results swung to a $28.7 million net loss from $16.6 million net income a year earlier.
• Goodwill impairment and margin compression: A $30.1 million goodwill impairment and weaker volumes drove Adjusted EBITDA down 43.9% to $21.6 million, reducing margin from 9.7% to 6.7%.
• Weaker year-to-date profitability and cash generation: For the first nine months, net loss was $8.0 million versus $73.9 million income, while free cash flow dropped to $2.1 million from $31.5 million.
• Tariff and cost headwinds plus merger-related expenses: Management cites unmitigated tariff impact of roughly 3.5–4.0% of annualized net sales, alongside higher input costs, restructuring charges, and merger-related spending.
• Reduced transparency in near term: In light of the pending MasterBrand merger, the company will not hold a conference call or provide or update financial guidance for the third quarter.

Insights

Equity research analyst

Sharp volume decline, goodwill impairment and weaker cash generation mark a clearly negative quarter.

American Woodmark is facing a broad cyclical and cost squeeze. Third-quarter net sales dropped 18.4% to $324.3 million, flipping from prior-year profit to a $28.7 million loss as lower volumes, higher tariffs, and merger and restructuring costs pressured margins.

Profitability eroded meaningfully: Adjusted EBITDA fell 43.9% to $21.6 million, or 6.7% of net sales, and the company recorded a non-cash goodwill impairment of $30.1 million. Year-to-date net loss of $8.0 million contrasts with prior-year net income of $73.9 million, while free cash flow slid to $2.1 million.

Leverage is manageable but higher, with total debt of $369.1 million, cash of $28.3 million, and net leverage at 2.26. Management highlights tariff exposure of roughly 3.5–4.0% of annualized net sales and is prioritizing cost actions and merger execution with MasterBrand, Inc., while suspending the usual earnings call and guidance updates.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 26, 2026

American Woodmark Corporation

(Exact name of registrant as specified in its charter)

Virginia

000-14798

54-1138147

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)

561 Shady Elm Road,

Winchester,

Virginia

22602

(Address of principal executive offices

(Zip Code)

Registrant’s telephone number, including area code: (540) 665-9100

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Common Stock (no par value)

AMWD

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

American Woodmark Corporation

ITEM 2.02    RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On February 26, 2026, the Registrant issued a press release announcing results for its third quarter of fiscal year 2026 ended January 31, 2026. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

(d)    Exhibits

Exhibit 99.1    Registrant's Press Release dated February 26, 2026.

Exhibit 104     Cover Page Interactive Data File (embedded within Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMERICAN WOODMARK CORPORATION

(Registrant)

/s/ M. SCOTT CULBRETH

M. Scott Culbreth

President & Chief Executive Officer

Date: February 26, 2026

Signing on behalf of the registrant and as principal executive officer and interim principal financial and accounting officer

Exhibit 99.1

P. O. Box 1980

Winchester, VA 22604-8090

Contact: Bradley Kosler VP Finance 540-665-9100

AMERICAN WOODMARK CORPORATION ANNOUNCES THIRD QUARTER RESULTS

Fiscal Third Quarter 2026 Financial Highlights:

•Net sales of $324.3 million

•Net loss of $(28.7) million; (8.9)% of net sales, including a non-cash goodwill impairment charge of $30.1 million

•GAAP EPS of $(1.97); adjusted EPS of $0.45

•Adjusted EBITDA of $21.6 million; 6.7% of net sales

Fiscal 2026 Year to Date Financial Highlights:

•Net sales of $1,122.0 million

•Net loss of $(8.0) million; (0.7)% of net sales, including a non-cash goodwill impairment charge of $30.1 million

•GAAP EPS of $(0.55); adjusted EPS of $2.21

•Adjusted EBITDA of $103.5 million; 9.2% of net sales

•Cash provided by operating activities of $31.1 million; free cash flow of $2.1 million

WINCHESTER, Virginia (February 26, 2026) -- American Woodmark Corporation (NASDAQ: AMWD) (“American Woodmark,” “the Company,” “we,” “our,” or “us”) today announced results for its third fiscal quarter ended January 31, 2026.

“Demand trends were once again challenging in both the new construction and remodel markets with new construction softening throughout the quarter. We delivered Adjusted EBITDA margins of 6.7% for the third fiscal quarter, as lower volumes impacted fixed cost absorption,” said Scott Culbreth, President and CEO. “Mitigating tariffs and reducing the impact of lower demand on the business remain our top priorities. Actions include structural cost reductions, supplier negotiations, alternative sourcing, and price increases. The estimated unmitigated tariff impact, in effect as of the end of the third quarter of fiscal 2026, represents approximately 3.5-4.0% of the Company’s annualized net sales with the impact varying by product category. This impact does not include the potential increase on Section 232 tariffs to 50% on January 1, 2027, or any changes due to the Supreme Court decision on February 20, 2026. The Company is also focused on closing the previously announced merger transaction with MasterBrand, Inc., which will enable us to provide a broader product portfolio across expanded channels, advance our innovation capabilities, and create exciting opportunities for team members.”

Third Quarter Results

Net sales for the third quarter of fiscal 2026 decreased $73.3 million, or 18.4%, to $324.3 million compared with the same quarter last fiscal year. Net loss was $(28.7) million ($(1.97) per diluted share and (8.9)% of net sales) compared with net income of $16.6 million ($1.09 per diluted share and 4.2% of net sales) for the same quarter last fiscal year. This decrease of $45.3 million included a non-cash goodwill impairment charge of $30.1 million. This decrease was also due to the following: lower net sales, volume deleverage in our manufacturing locations, higher tariff and input costs, merger-related expenses, and restructuring charges, net. This decrease was partially offset by lower volume-based costs at our operating locations, lower incentive compensation, and controlled discretionary spending across all locations and functions. Adjusted EPS per diluted share was $0.45 for the third quarter of fiscal 2026 compared with $1.05 for the same quarter last fiscal year. Adjusted EBITDA for the third quarter of fiscal 2026 decreased $16.9 million, or 43.9%, to $21.6 million, or 6.7% of net sales, compared with $38.4 million, or 9.7% of net sales, for the same quarter last fiscal year.

AMWD Announces Third Quarter Results

Page 2

February 26, 2026

Fiscal Year to Date Results

Net sales for the first nine months of fiscal 2026 decreased $187.2 million, or 14.3%, to $1,122.0 million compared with the same period last fiscal year. Net loss was $(8.0) million ($(0.55) per diluted share and (0.7)% of net sales) compared with net income of $73.9 million ($4.79 per diluted share and 5.6% of net sales) for the same period last fiscal year. This decrease of $81.9 million included a non-cash goodwill impairment charge of $30.1 million. This decrease was also due to the following: lower net sales combined with an unfavorable mix shift towards value-based offerings, volume deleverage in our manufacturing locations, higher tariff and product input costs, increased Digital Transformation spending related to our ERP deployment strategy, merger-related expenses, non-cash goodwill impairment, higher interest expense, and restructuring charges, net. This decrease was partially offset by lower volume-based costs at our operating locations, lower incentive compensation, favorable mark-to-market adjustments on our foreign exchange forward contracts, and controlled discretionary spending across all locations and functions. Adjusted EPS per diluted share was $2.21 for the first nine months of fiscal 2026 compared with $5.28 for the same period last fiscal year. Adjusted EBITDA for the first nine months of fiscal 2026 decreased $58.1 million, or 35.9%, to $103.5 million, or 9.2% of net sales, compared with $161.5 million, or 12.3% of net sales, for the same period last fiscal year.

In light of our pending merger with MasterBrand, Inc., previously announced on August 6, 2025, we will not be holding a conference call to discuss our third quarter of fiscal 2026 results and we will not be providing or updating previously issued financial guidance.

Balance Sheet & Cash Flow

As of January 31, 2026, the Company had $28.3 million in cash plus access to $315.7 million of additional availability under its revolving credit facility. Also, as of January 31, 2026, the Company had total debt of $369.1 million, including $193.8 million in term loan debt and $173.4 million drawn on its revolving credit facility and net leverage was 2.26.

Cash provided by operating activities for the first nine months of fiscal 2026 was $31.1 million and free cash flow totaled $2.1 million. The Company repurchased 209,757 shares, or approximately 1.4% of shares outstanding, for $12.4 million during the first nine months of fiscal 2026. No shares were repurchased by the Company in the third quarter of fiscal 2026.

About American Woodmark

American Woodmark celebrates the creativity in all of us. With over 7,800 employees and more than a dozen brands, we’re one of the nation’s largest cabinet manufacturers. From inspiration to installation, we help people find their unique style and turn their home into a space for self-expression. By partnering with major home centers, builders, and independent dealers and distributors, we spark the imagination of homeowners and designers and bring their vision to life. Across our service and distribution centers, our corporate office, and manufacturing facilities, you’ll always find the same commitment to customer satisfaction, integrity, teamwork, and excellence. Visit americanwoodmark.com to learn more and start building something distinctly your own.

Use of Non-GAAP Financial Measures

We have presented certain financial measures in this press release which have not been prepared in accordance with U.S. generally accepted accounting principles (GAAP). Definitions of our non-GAAP financial measures and a reconciliation to the most directly comparable financial measure calculated in accordance with GAAP are provided below following the financial highlights under the heading "Non-GAAP Financial Measures." 

Safe harbor statement under the Private Securities Litigation Reform Act of 1995: All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors that may be beyond the Company's control. Accordingly, actual outcomes and results may differ materially from those expressed or implied in any such forward looking statements. Such factors include, but are not limited to, those described in the Company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

AMWD Announces Third Quarter Results

Page 3

February 26, 2026

AMERICAN WOODMARK CORPORATION
Unaudited Financial Highlights
(in thousands, except share data)
Operating Results
									Three Months Ended												Nine Months Ended
									January 31,												January 31,
									2026						2025						2026						2025
Net sales									$	324,300					$	397,580					$	1,121,983					$	1,309,190
Cost of sales & distribution									286,548						337,816						956,838						1,070,849
			Gross profit						37,752						59,764						165,145						238,341
Sales & marketing expense									19,241						19,537						64,532						65,612
General & administrative expense									19,075						18,632						66,356						60,371
Restructuring charges, net									3,168						520						5,448						1,653
Goodwill impairment									30,129						—						30,129						—
			Operating (loss) income						(33,861)						21,075						(1,320)						110,705
Interest expense, net									3,677						2,816						12,344						7,554
Other (income) expense, net									(1,029)						(1,457)						(5,727)						8,485
Income tax (benefit) expense									(7,794)						3,145						86						20,776
			Net (loss) income						$	(28,715)					$	16,571					$	(8,023)					$	73,890
Earnings Per Share:
Weighted average shares outstanding - diluted									14,569,239						15,159,442						14,548,800						15,430,164
Net (loss) income per diluted share									$	(1.97)					$	1.09					$	(0.55)					$	4.79

AMWD Announces Third Quarter Results

Page 4

February 26, 2026

Condensed Consolidated Balance Sheet
(Unaudited)
									January 31,						April 30,
									2026						2025
Cash & cash equivalents									$	28,261					$	48,195
Customer receivables, net									92,084						111,171
Inventories									188,715						178,111
Income taxes receivable									14,013						2,567
Prepaid expenses and other									38,795						24,409
			Total current assets						361,868						364,453
Property, plant and equipment, net									230,491						244,989
Operating lease right-of-use assets									107,777						128,907
Goodwill, net									737,483						767,612
Other long-term assets, net									67,471						64,608
			Total assets						$	1,505,090					$	1,570,569
Current maturities of long-term debt									$	8,635					$	7,659
Short-term lease liability - operating									32,108						33,598
Accounts payable & accrued expenses									111,904						141,685
			Total current liabilities						152,647						182,942
Long-term debt, less current maturities									360,512						365,825
Deferred income taxes									5,029						—
Long-term lease liability - operating									82,480						102,846
Other long-term liabilities									2,522						2,958
			Total liabilities						603,190						654,571
Stockholders' equity									901,900						915,998
			Total liabilities & stockholders' equity						$	1,505,090					$	1,570,569

Condensed Consolidated Statements of Cash Flows
(Unaudited)
									Nine Months Ended
									January 31,
									2026						2025
Net cash provided by operating activities									$	31,123					$	63,687
Net cash used by investing activities									(28,969)						(32,192)
Net cash used by financing activities									(22,088)						(75,409)
Net decrease in cash and cash equivalents									(19,934)						(43,914)
Cash and cash equivalents, beginning of period									48,195						87,398
Cash and cash equivalents, end of period									$	28,261					$	43,484

AMWD Announces Third Quarter Results

Page 5

February 26, 2026

Non-GAAP Financial Measures

We have reported our financial results in accordance with GAAP, and have discussed our financial results using the non-GAAP measures described below.

Management believes all of these non-GAAP financial measures provide an additional means of analyzing the current period's results against the corresponding prior period's results. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Company's reported results prepared in accordance with GAAP. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

EBITDA, Adjusted EBITDA and Adjusted EBITDA margin

We use EBITDA, Adjusted EBITDA and Adjusted EBITDA margin in evaluating the performance of our business, and we use each in the preparation of our annual operating budgets and as indicators of business performance and profitability. We believe EBITDA, Adjusted EBITDA, and Adjusted EBITDA margin allow us to readily view operating trends, perform analytical comparisons and identify strategies to improve operating performance. Additionally, Adjusted EBITDA is a key measurement used in our Term Loans to determine interest rates and financial covenant compliance.

We define EBITDA as net (loss) income adjusted to exclude (1) income tax expense, (2) interest expense, net, and (3) depreciation and amortization expense. We define Adjusted EBITDA as EBITDA adjusted to exclude (1) expenses related to the pending merger with MasterBrand, Inc., (2) restructuring charges, net, (3) goodwill impairment, (4) net gain/loss on debt modification, (5) stock-based compensation expense, (6) gain/loss on asset disposals, and (7) change in fair value of foreign exchange forward contracts. We believe Adjusted EBITDA, when presented in conjunction with comparable GAAP measures, is useful for investors because management uses Adjusted EBITDA in evaluating the performance of our business.

We define Adjusted EBITDA margin as Adjusted EBITDA as a percentage of net sales.

Adjusted EPS per diluted share

We use Adjusted EPS per diluted share in evaluating the performance of our business and profitability. Management believes that this measure provides useful information to investors by offering additional ways of viewing the Company's results by providing an indication of performance and profitability excluding the impact of unusual and/or non-cash items. We define Adjusted EPS per diluted share as diluted earnings per share excluding the per share impact of (1) expenses related to the currently proposed Merger with MasterBrand, (2) restructuring charges, net, (3) goodwill impairment, (4) net gain/loss on debt modification, (5) change in fair value of foreign exchange forward contracts, and (6) the associated tax benefits.

Free cash flow

We use free cash flow to better understand cash flow trends in our business. We believe this measure gives investors an additional perspective on cash flow from operating activities in excess of amounts required for reinvestment. It also provides a measure of our ability to repay our debt obligations. We define free cash flow as net cash provided by operating activities less capital expenditures consisting of (1) cash payments to acquire property, plant and equipment and (2) cash investments in promotional displays.

Net leverage

Net leverage is a performance measure that we believe provides investors a more complete understanding of our leverage position and borrowing capacity after factoring in cash and cash equivalents that eventually could be used to repay outstanding debt.

We define net leverage as net debt (total debt less cash and cash equivalents) divided by the trailing-twelve months Adjusted EBITDA.

A reconciliation of these non-GAAP financial measures and the most directly comparable measures calculated and presented in accordance with GAAP are set forth on the following tables:

AMWD Announces Third Quarter Results

Page 6

February 26, 2026

Reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA margin
						Three Months Ended												Nine Months Ended
						January 31,												January 31,
(in thousands)						2026						2025						2026						2025
Net (loss) income (GAAP)						$	(28,715)					$	16,571					$	(8,023)					$	73,890
Add back:
Income tax (benefit) expense						(7,794)						3,145						86						20,776
Interest expense, net						3,677						2,816						12,344						7,554
Depreciation and amortization expense						16,055						14,583						48,247						40,851
EBITDA (Non-GAAP)						$	(16,777)					$	37,115					$	52,654					$	143,071
Add back:
Merger related expenses (1)						4,156						—						13,441						—
Restructuring charges, net (2)						3,168						520						5,448						1,653
Goodwill impairment						30,129						—						30,129						—
Net loss on debt modification						—						—						—						364
Change in fair value of foreign exchange forward contracts (3)						(1,010)						(1,418)						(5,624)						8,266
Stock-based compensation expense						1,713						2,141						6,600						7,946
Net loss on disposal of property, plant and equipment						207						87						816						229
Adjusted EBITDA (Non-GAAP)						$	21,586					$	38,445					$	103,464					$	161,529
Net Sales						$	324,300					$	397,580					$	1,121,983					$	1,309,190
Net income margin (GAAP)						(8.9)		%				4.2		%				(0.7)		%				5.6		%
Adjusted EBITDA margin (Non-GAAP)						6.7		%				9.7		%				9.2		%				12.3		%

(1) Merger-related expenses are comprised of expenses related to the pending Merger with MasterBrand, Inc.

(2) Restructuring charges, net are comprised of expenses incurred related to the reductions-in-force implemented in the first nine months of fiscal 2026 in the U.S. and Mexico, the closure of the distribution facility located in Dallas, Texas, which was announced in August 2025, and the closure of the manufacturing facility located in Orange, Virginia, which was announced in January 2025.

(3) In the normal course of business, the Company is subject to risk from adverse fluctuations in foreign exchange rates. The Company limits these risks by using foreign exchange forward contracts. The changes in the fair value of the forward contracts are recorded in other (income) expense, net in the condensed consolidated statements of operations.

AMWD Announces Third Quarter Results

Page 7

February 26, 2026

Reconciliation of Net (Loss) Income to Adjusted Net Income
						Three Months Ended												Nine Months Ended
						January 31,												January 31,
(in thousands, except share data)						2026						2025						2026						2025
Net (loss) income (GAAP)						$	(28,715)					$	16,571					$	(8,023)					$	73,890
Add back:
Merger related expenses						4,156						—						13,441						—
Restructuring charges, net						3,168						520						5,448						1,653
Goodwill impairment						30,129						—						30,129						—
Net loss on debt modification						—						—						—						364
Change in fair value of foreign exchange forward contracts						(1,010)						(1,418)						(5,624)						8,266
Tax benefit of add backs						(1,183)						221						(3,011)						(2,653)
Adjusted net income (Non-GAAP)						$	6,545					$	15,894					$	32,360					$	81,520
Weighted average diluted shares (GAAP)						14,569,239						15,159,442						14,548,800						15,430,164
Add back: potentially anti-dilutive shares (1)						66,031						—						67,628						—
Weighted average diluted shares (Non-GAAP)						14,635,270						15,159,442						14,616,428						15,430,164
EPS per diluted share (GAAP)						$	(1.97)					$	1.09					$	(0.55)					$	4.79
Adjusted EPS per diluted share (Non-GAAP)						$	0.45					$	1.05					$	2.21					$	5.28

(1) Potentially dilutive securities for the three- and nine-month periods ended January 31, 2026, respectively, have not been considered in the GAAP calculation of net loss per share as the effect would be anti-dilutive.

Free Cash Flow
						Nine Months Ended
						January 31,
						2026						2025
Net cash provided by operating activities						$	31,123					$	63,687
Less: Capital expenditures (1)						28,993						32,197
Free cash flow						$	2,130					$	31,490

(1) Capital expenditures consist of cash payments to acquire property, plant and equipment and cash investments in promotional displays.

AMWD Announces Third Quarter Results

Page 8

February 26, 2026

Net Leverage
						Twelve Months Ended
						January 31,
(in thousands)						2026
Net income (GAAP)						$	17,542
Add back:
Income tax expense						6,392
Interest expense, net						15,130
Depreciation and amortization expense						62,561
EBITDA (Non-GAAP)						$	101,625
Add back:
Merger related expenses						13,441
Restructuring charges, net						8,403
Goodwill impairment						30,129
Net gain on debt modification						(374)
Change in fair value of foreign exchange forward contracts						(10,354)
Stock-based compensation expense						6,644
Net loss on disposal of property, plant and equipment						1,049
Adjusted EBITDA (Non-GAAP)						$	150,563
						As of
						January 31,
						2026
Current maturities of long-term debt						$	8,635
Long-term debt, less current maturities						360,512
Total debt						369,147
Less: Cash and cash equivalents						(28,261)
Net debt						$	340,886
Net leverage (1)						2.26

(1) Net debt divided by Adjusted EBITDA for the twelve months ended January 31, 2026.

- END -

FAQ

How did American Woodmark (AMWD) perform in its fiscal Q3 2026?

American Woodmark posted weak fiscal Q3 2026 results with lower sales and a net loss. Net sales fell 18.4% to $324.3 million, and the company reported a $28.7 million net loss, including a $30.1 million non-cash goodwill impairment, versus a $16.6 million profit last year.

What were American Woodmark’s key profitability metrics for Q3 2026?

Profitability declined sharply in Q3 2026. GAAP EPS was $(1.97) compared with $1.09 a year earlier. Adjusted EPS was $0.45, and Adjusted EBITDA fell to $21.6 million, or 6.7% of net sales, from $38.4 million, or 9.7%, in the prior-year quarter.

How did American Woodmark’s year-to-date fiscal 2026 results compare to last year?

Year-to-date fiscal 2026, net sales decreased 14.3% to $1,122.0 million. The company recorded a $8.0 million net loss versus $73.9 million net income last year. Adjusted EBITDA declined to $103.5 million, or 9.2% of net sales, from $161.5 million, or 12.3%.

What is American Woodmark’s balance sheet and leverage position as of January 31, 2026?

As of January 31, 2026, American Woodmark held $28.3 million in cash and total debt of $369.1 million. Net leverage, defined as net debt divided by trailing twelve-month Adjusted EBITDA, was 2.26, indicating moderate leverage relative to current earnings capacity.

How much free cash flow did American Woodmark generate in fiscal 2026 year to date?

For the first nine months of fiscal 2026, American Woodmark generated $31.1 million of cash from operating activities and spent $29.0 million on capital expenditures. This resulted in free cash flow of $2.1 million, down significantly from $31.5 million in the prior-year period.

What strategic actions and merger plans did American Woodmark highlight?

Management emphasized structural cost reductions, supplier negotiations, alternative sourcing, and price increases to mitigate weaker demand and tariffs. The company is also focused on closing its pending merger with MasterBrand, Inc., aiming to broaden its product portfolio and expand channel reach.

Is American Woodmark providing earnings guidance or hosting a Q3 2026 conference call?

American Woodmark stated that, due to its pending merger with MasterBrand, Inc., it will not hold a conference call to discuss third-quarter fiscal 2026 results. The company also indicated it will not provide or update previously issued financial guidance in connection with these results.

Filing Exhibits & Attachments

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