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Apr 30, 2021
American Woodmark Q4 2021 Earnings Report
American Woodmark's Q4 2021 financial results were announced, revealing increased net sales but decreased net income due to debt modification and higher costs, despite strong market demand and a new stock buyback program.
Key Takeaways
American Woodmark Corporation reported an 18.6% increase in net sales for the fourth quarter, reaching $473.4 million. However, net income decreased to $2.8 million, or $0.17 per diluted share, due to a pre-tax loss on debt modification and increased material and logistics expenses. The company authorized a $100 million stock buyback program.
Net sales increased by 18.6% to $473.4 million, driven by double-digit growth across all channels.
Net income decreased to $2.8 million ($0.17 per diluted share) due to a pre-tax loss on debt modification and higher material and logistics costs.
Adjusted EPS per diluted share was $1.28, compared to $1.33 in the same quarter of the previous year.
The Board of Directors authorized a $100 million stock repurchase program.
American Woodmark
American Woodmark
Forward Guidance
The company remains focused on increasing production to meet strong demand while mitigating inflationary pressures on materials, logistics, and labor through pricing and productivity initiatives.