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Apr 30, 2022
American Woodmark Q4 2022 Earnings Report
Reported an increase in net sales and net income driven by growth across all sales channels and the absence of a loss on debt modification, partially offset by higher material and logistics costs.
Key Takeaways
American Woodmark Corporation announced its Q4 results with net sales increasing by 6.0% to $501.7 million and net income reaching $14.5 million, or $0.87 per diluted share. The company experienced growth across all sales channels and adjusted EPS per diluted share was $1.38. Adjusted EBITDA was $44.5 million, representing 8.9% of net sales.
Net sales for the fourth fiscal quarter increased by 6.0% to $501.7 million.
Net income for the fourth quarter was $14.5 million ($0.87 per diluted share).
Adjusted EPS per diluted share was $1.38 for the fourth quarter.
Adjusted EBITDA for the fourth fiscal quarter was $44.5 million, or 8.9% of net sales.
American Woodmark
American Woodmark
Forward Guidance
The company anticipates significant Adjusted EBITDA margin improvement in fiscal year 2023 due to price realization, productivity initiatives, and increased production levels as staffing improves.
Positive Outlook
- Pricing actions are expected to further offset inflationary impacts beginning in July.
- Significant Adjusted EBITDA margin improvement is expected in fiscal year 2023.
- Price realization will better match inflationary impacts.
- Costs will improve through productivity initiatives.
- Production levels will increase as staffing improves.
Challenges Ahead
- Adjusted EBITDA margins were negatively impacted by rising fuel costs and material inflation.