Here is a summary of American Woodmark Corporation's Q4 2023 earnings call, which took place on May 25:
- American Woodmark Corporation experienced a decline in net sales of 4.1% in Q4.
- The new construction business grew by 5.3% compared to the prior year.
- Adjusted EBITDA increased by 46.7% to $65.3 million in Q4.
- Gross profit margin for Q4 FY2023 was 20.1% of net sales, up from 13.9% the previous year.
- The company paid down $65 million in debt during the quarter, reducing leverage to 1.37 times adjusted EBITDA.
- The company plans to include opportunistic share repurchases in fiscal year '24.
- The company's growth strategy includes launching new products, expanding brands, and improving online capabilities.
- The company is investing in platform design work and automation efforts over the next five years.
- FY2023 saw a 21.1% increase in new construction net sales and a 22.2% increase in independent dealer/distributor net sales.
- Outlook for FY2024 predicts low double-digit declines in net sales and an EBITDA margin expectation of $205 million to $225 million.
This is an AI generated summary. There may be inaccuracies.
Sign Up
Sign In