Business
American Woodmark Corporation Announces Second Quarter Results and a $125 Million Stock Repurchase Authorization
Fiscal Second Quarter 2025 Financial Highlights: Net sales of $452.5 million Net income of $27.7 million; 6.1% of net sales GAAP EPS of $1.79; adjusted EPS
About this update from American Woodmark Corporation
[{"type":"text","content":"\nFiscal Second Quarter 2025 Financial Highlights:\n\n\n\nNet sales of $452.5 million\n\n\n\nNet income of $27.7 million; 6.1% of net sales\n\n\n\nGAAP EPS of $1.79; adjusted EPS of $2.081\n\n\n\nAdjusted EBITDA of $60.2 million; 13.3% of net sales\n\n\n\nCash provided by operating activities of $11.9 million; free cash flow of $0.7 million\n\n\n\nRepurchased 348,877 shares for $32.5 million\n\n\n\nBoard approved an additional $125 million authorization for future share repurchases\n\n\n\nFiscal 2025 Year to Date Financial Highlights:\n\n\n\nNet sales of $911.6 million\n\n\n\nNet income of $57.3 million; 6.3% of net sales\n\n\n\nGAAP EPS of $3.68; adjusted EPS of $4.221\n\n\n\nAdjusted EBITDA of $123.1 million; 13.5% of net sales\n\n\n\nCash provided by operating activities of $52.7 million; free cash flow of $30.1 million\n\n\n\nRepurchased 620,337 shares for $56.5 million\n\n\n\n WINCHESTER, Va.--(BUSINESS WIRE)--\nAmerican Woodmark Corporation (NASDAQ: AMWD) (the \"Company\") today announced results for its second fiscal quarter ended October 31, 2024.\n\n\n“Our team delivered net sales and Adjusted EBITDA performance that was in-line with the expectations we shared last quarter. The quarter was impacted by continued softer demand in the remodel market along with the slowdown in new construction single family starts over the summer,” said Scott Culbreth, President and CEO. “We expect the demand trends to remain challenging but are reaffirming our outlook for a low single-digit decline in net sales for the full fiscal year and have tightened our Adjusted EBITDA range to $225 million to $235 million.”\n\n\nSecond Quarter Results\n\n\nNet sales for the second quarter of fiscal 2025 decreased $21.4 million, or 4.5%, to $452.5 million compared with the same quarter last fiscal year. Net income was $27.7 million ($1.79 per diluted share and 6.1% of net sales) compared with $30.3 million ($1.85 per diluted share and 6.4% of net sales) last fiscal year. Net income decreased $2.7 million due to lower net sales, increasing supply chain costs, an unfavorable mark-to-market adjustment on our foreign currency hedging instruments, and restructuring charges related to a reduction in force during the quarter, partially offset by the roll-off of acquisition-related intangible asset amortization, which ended in the third quarter of the prior f...