Business
American Woodmark Corporation Announces First Quarter Results
Fiscal First Quarter 2026 Financial Highlights: Net sales decreased 12.2% year-over-year to $403.0 million Net income decreased 50.7% year-over-year to $14.6
About this update from American Woodmark Corporation
[{"type":"text","content":"\nFiscal First Quarter 2026 Financial Highlights:\n\n\n\nNet sales decreased 12.2% year-over-year to $403.0 million\n\n\n\nNet income decreased 50.7% year-over-year to $14.6 million; 3.6% of net sales\n\n\n\nGAAP EPS of $1.00; adjusted EPS of $1.01\n\n\n\nAdjusted EBITDA decreased 32.8% year-over-year to $42.2 million; 10.5% of net sales\n\n\n\nCash provided by operating activities of $33.1 million; free cash flow of $24.9 million\n\n\n\nRepurchased 209,757 shares for $12.4 million\n\n\n\n WINCHESTER, Va.--(BUSINESS WIRE)--\nAmerican Woodmark Corporation (NASDAQ: AMWD) (“American Woodmark,” “the Company,” “we,” “our,” or “us”) today announced results for its first fiscal quarter ended July 31, 2025.\n\n\n“The new construction and remodel market continued to be weaker than expected for the first quarter of fiscal year 2026. Our teams are executing well despite the lower volumes and delivered Adjusted EBITDA margins of 10.5% for the first fiscal quarter,” said Scott Culbreth, President and CEO. “Demand trends are expected to remain challenging in both markets, but I am confident in our team’s ability to navigate the current macroeconomic environment.”\n\n\nFirst Quarter Results\n\n\nNet sales for the first quarter of fiscal 2026 decreased $56.1 million, or 12.2%, to $403.0 million compared with the same quarter last fiscal year. Net income was $14.6 million ($1.00 per diluted share and 3.6% of net sales) compared with $29.6 million ($1.89 per diluted share and 6.5% of net sales) last fiscal year. This was due to lower net sales combined with an unfavorable mix shift towards value-based offerings, increased product input costs, including tariffs, pre-tax post-implementation ERP support costs of $2.0 million for our west coast site that went live in early May, pre-tax merger related expenses of $2.8 million, increased pre-tax interest expense of $1.8 million over prior year, and pre-tax restructuring charges, net totaling $0.8 million. These increased costs were partially offset by a favorable mark-to-market adjustment on our foreign exchange forward contracts of $8.9 million over prior year, and controlled discretionary spending. Adjusted EPS per diluted share was $1.01 for the first quarter of fiscal 2026 compared with $2.141 last fiscal year. Adjusted EBITDA for the first quarter of fiscal 2026 decreased $20.7 million, or 32.8%, ...