American Woodmark Q3 2023 Earnings Report

American Woodmark's financial performance improved in the third quarter of fiscal 2023, with increased net sales and a return to profitability.

Key Takeaways

American Woodmark Corporation reported a 4.6% increase in net sales for the third quarter of fiscal 2023, reaching $480.7 million. The company's net income was $14.7 million, a significant improvement compared to the net loss of $49.3 million in the same quarter of the previous year. Adjusted EPS per diluted share was $1.46, up from $0.60 in the prior year, and Adjusted EBITDA increased by 66.8% to $51.0 million.

Net sales increased by 4.6% to $480.7 million compared to the same quarter last year.

Net income was $14.7 million ($0.88 per diluted share), a significant improvement from the prior year's net loss of $49.3 million.

Adjusted EPS per diluted share rose to $1.46, compared to $0.60 in the same quarter of the previous fiscal year.

Adjusted EBITDA increased by 66.8% to $51.0 million, representing 10.6% of net sales.