American Woodmark Corp. (NASDAQ: AMWD)
American Woodmark Corporation announced better-than-expected fourth quarter earnings before the opening belling on Tuesday, May 29.
Investors appear to have been pleased with the results as AMWD stock went on to climb by a huge margin after the markets opened. At the time of writing, the shares were exchanging hands at 101.60 after gaining $13.05, or 14.74%.
AMWD Earnings & Outlook
The company reported a net income of $19.1 million, or $1.08 per share. In the same quarter last year, the company had a net income of $17.3 million, or $1.06 per share.
Excluding one-time gains and costs, the Virginia-based company had earnings per share of $1.64 compared with analysts’ consensus of $1.12.
During the quarter, AMWD posted a revenue of $405.9 million to finish above analyst consensus of $382.4 million. For the full year, the cabinet maker posted a profit of $3.77 per share, or $63.1 million.
American Woodmark Corp. CEO Comments
AMWD Chairman and Chief Executive Cary Dunston made the following remarks during the announcement of the company’s results: “With an Adjusted EBITDA margin of 16.1%, we were very pleased with our performance over the past quarter. We had solid growth in our dealer and new construction channels while home center channel sales continued to be challenging. Our integration work is proceeding on plan as we remain focused on strategically leveraging our combined businesses to gain share in the market.”
American Woodmark Corporation Company Profile
American Woodmark Corp. engages in the manufacture and distribution of kitchen cabinets and vanities for use in new home construction and remodeling markets. The company avails framed stock cabinets in about 500 different cabinet lines that are available in various prices, including medium–priced and relatively inexpensive styles.
The cabinets vary by color and design from low-pressure laminate and natural wood finishes surfaces.
The stock cabinets offered by the company include about 90 door designs available in more than 20 colors. Stock cabinets consist of cabinet interiors of varying construction options and dimensions, and a cherry, maple, oak, and a hickory front frame.
The company sells its products under the brand the following brand names: Shenandoah Cabinetry, American Woodmark, Waypoint Living Spaces, Simply Woodmark, Shenandoah Value Series, and Timberlake.
The company sells the products on a national basis in the US to the new-home construction and remodeling markets. It services these markets through home centers, independent distributors & dealers, and builders.
The cabinet maker has a network of about seven service centers that provide installation services to its builder customers in the country. It avails its products through a third party logistics network to each market channel directly.
The primary raw materials used by the company in making its products include plywood, hard maple, cherry, soft maple, hickory lumber and oak.
Other raw materials include high density fiberboard, medium density fiberboard, paint, particleboard, manufactured hardware and components. The company was founded in 1980 and its headquarters are based in Winchester, Virginia. –YahooFinance