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American Woodmark Corporation Announces Third Quarter Results

AMWD
  • American Woodmark reported fiscal third quarter 2026 net sales of $324.3 million, a decrease of 18.4% compared to the prior year.
  • The company recorded a GAAP net loss of $28.7 million for the quarter, including a $30.1 million non-cash goodwill impairment charge.
  • GAAP EPS for the quarter was $(1.97), while adjusted EPS was $0.45.
  • Adjusted EBITDA for the third quarter was $21.6 million, representing a 6.7% margin of net sales.
  • Fiscal year-to-date net sales totaled $1,122.0 million, down 14.3% from the previous year.
  • Year-to-date GAAP net loss was $8.0 million, also including the $30.1 million goodwill impairment charge.
  • Year-to-date adjusted EPS was $2.21, and adjusted EBITDA was $103.5 million, representing a 9.2% margin.
  • Cash provided by operating activities for the first nine months was $31.1 million, with free cash flow of $2.1 million.
  • President Scott Culbreth cited challenging demand in new construction & remodel markets, volume deleverage, higher tariffs, & input costs as key factors impacting results.
  • Estimated unmitigated tariff impact stands at 3.5-4.0% of annualized net sales as of the quarter end, excluding potential 2027 tariff increases.
  • The company is focused on structural cost reductions, supplier negotiations, alternative sourcing, & price increases to mitigate challenges.
  • American Woodmark is proceeding with the pending merger transaction with MasterBrand, Inc., which will expand its product portfolio & channels.
  • Due to the pending merger, the company will not hold a conference call or update financial guidance for fiscal 2026.
  • As of January 31, 2026, the company held $28.3 million in cash with $315.7 million available under its revolving credit facility.
  • Total debt as of January 31, 2026, was $369.1 million, resulting in a net leverage ratio of 2.26.
  • The company repurchased 209,757 shares for $12.4 million during the first nine months of fiscal 2026, with no repurchases in the third quarter.