American Woodmark Reports 12.2% Decrease in Q1 Net Sales, Net Income Falls to $14.6M, Adjusted EPS at $1.01
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American Woodmark Corporation (NASDAQ: AMWD) reported a 12.2% decrease in Q1 net sales, totaling $403.0 million, with net income falling to $14.6 million, or $1.00 per diluted share. This decline is attributed to lower sales volume, unfavorable product mix, and increased costs. Adjusted EBITDA also decreased by 32.8% to $42.2 million. The company has $54.9 million in cash and access to $315.2 million in credit. A proposed merger with MasterBrand, Inc. is underway, and no conference call or updated guidance will be provided for this quarter's results.
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