American Woodmark Q2 2023 Earnings Report

American Woodmark's second quarter of fiscal year 2023 resulted in increased net sales and improved Adjusted EBITDA.

Key Takeaways

American Woodmark Corporation announced a 23.9% increase in net sales for the second quarter of fiscal 2023, reaching $561.5 million. Net income increased to $28.8 million, or $1.73 per diluted share, and Adjusted EBITDA rose by 119.6% to $67.6 million.

Net sales increased by 23.9% to $561.5 million compared to the same quarter of the prior fiscal year.

Net income was $28.8 million ($1.73 per diluted share) compared to $2.0 million ($0.12 per diluted share) in the prior year.

Adjusted EPS per diluted share was $2.24 compared to $0.62 in the same quarter of the previous fiscal year.

Adjusted EBITDA increased by 119.6% to $67.6 million, representing 12.0% of net sales.