NASDAQ$AMWD

American Woodmark Corporation · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

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.

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.

Headline financials

Total Revenue

$502M

Previous: $473M+6.0%
EPS (adj)

$1.38

Previous: $1.28+7.8%
Adjusted EBITDA Margin

8.9%

Previous: 10.0%-11.0%
Capital Expenditures

$14.3M

Previous: $10.3M+39.5%
Free Cash Flow

-$27.1M

Previous: $105M-125.7%
Net Income

$14.5M

Previous: $2.83M+413.8%
Operating Income

$19M

Previous: $21.4M-11.1%
Gross Profit

$69.7M

Previous: $73.8M-5.5%
Cash & Equivalents

$22.3M

Previous: $91.1M-75.5%
Total Assets

$1.63B

Previous: $1.64B-0.2%
Stock-Based Comp

$1.31M

Previous: $1.06M+24.1%

Revenue & EPS history

American Woodmark · Revenue · Quarterly

$502M

Q4 2022+6%vs Q4 2021
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

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.

Tailwinds

  • 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.

Headwinds

  • Adjusted EBITDA margins were negatively impacted by rising fuel costs and material inflation.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+1.1%

Avg return

Earnings day

-1.7%

Avg return

5 days after

-4.3%

Avg return

30 days after

54%

35 / 65 earnings

Positive

+22.5%

Q2 2018

Best reaction

-19.1%

Q3 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026
Q3 2026-0.8%-8.0%-22.8%
Q2 2026+5.3%+6.3%+5.7%
Q1 2026+0.6%-3.7%-2.5%
Q4 2025+3.0%-3.0%-6.1%
Q3 2025-13.0%-16.6%-16.9%
Q2 2025-11.6%-10.0%-18.7%
Q1 2025-11.6%-10.3%-8.6%
Q4 2024-4.6%-6.5%-14.6%
Q3 2024+1.2%-7.7%+0.6%
Q2 2024+16.0%+15.5%+28.9%
Q1 2024+5.7%+10.0%+5.2%
Q4 2023+18.8%+16.1%+29.4%
Q3 2023-10.3%-2.1%-14.5%
Q2 2023+4.3%+3.0%-6.1%
Q1 2023+9.3%+8.4%-6.5%
Q4 2022+3.1%+1.2%-10.8%
Q3 2022+9.6%+13.7%+4.0%
Q2 2022-4.6%-9.7%-12.6%
Q1 2022-13.0%-13.8%-18.7%
Q4 2021-8.5%-6.6%-13.4%
Q3 2021-7.4%-6.5%-3.7%
Q2 2021-12.5%-11.3%-8.9%
Q1 2021-8.0%-5.3%-21.2%
Q4 2020+7.3%+3.7%+17.5%
Q3 2020-19.1%-27.9%-54.6%
Q2 2020-0.3%-2.3%-0.1%
Q1 2020+8.4%+13.2%+19.0%
Q4 2019-13.0%-15.1%-3.7%
Q3 2019+0.5%-0.7%-6.6%
Q2 2019-1.5%-8.2%-16.0%
Q1 2019+1.2%+0.0%-5.9%
Q4 2018+16.3%+16.0%+2.0%
Q3 2018-7.1%-6.3%-17.8%
Q2 2018+22.5%+18.4%+30.8%
Q1 2018-13.9%-14.3%-4.7%
Q4 2017+4.4%+9.2%+6.1%
Q3 2017+6.8%+6.4%+10.8%
Q2 2017-4.5%-3.5%-6.2%
Q1 2017+10.3%+10.2%+4.6%
Q4 2016-13.6%-20.1%-15.9%
Q3 2016-1.7%
Q2 2016+20.5%
Q1 2016+1.1%
Q4 2015+10.0%
Q3 2015+13.7%
Q2 2015-0.8%
Q1 2015+18.9%
Q4 2014+2.0%
Q3 2014-11.9%
Q2 2014+3.0%
Q1 2014+10.4%
Q4 2013-2.9%
Q3 2013+5.8%
Q2 2013+18.3%
Q1 2013+4.6%
Q4 2010+6.3%
Q4 2012+6.3%
Q3 2011-2.0%
Q3 2012-2.0%
Q2 2011-6.4%
Q2 2012-6.4%
Q1 2011-1.9%
Q4 2011-1.9%
Q1 2012+12.6%
Q3 2010+1.7%

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