American Woodmark Corporation ($AMWD) Q4 2023 Earnings Call Summary

American Woodmark Corporation ($AMWD) Q4 2023 Earnings Call Summary

Posted: 1 week, 2 days ago // May 25, 2023 7:21 p.m. UTC

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.

Relevant tickers: AMWD