Wed, Jun 26, 8:17 PM (73 days ago)
American Woodmark Corporation's 2024 Annual Report on Form 10-K highlights a 10.6% decline in net sales to $1.85 billion, driven by reduced sales across all channels. Gross profit improved to 20.4%, up from 17.3% in the prior year, primarily due to better pricing and operational efficiencies. Net income rose to $116.2 million, with earnings per share (EPS) increasing to $7.15. Operating expenses saw a slight decrease, while general and administrative expenses remained relatively stable. The company invested $92.2 million in capital expenditures, mainly for plant expansions. Future outlook includes low single-digit sales growth and Adjusted EBITDA ranging from $235 million to $255 million. Key risks involve dependency on major customers like Home Depot and Lowe's, raw material cost fluctuations, and economic conditions affecting the housing market. The company maintains a strong liquidity position with $87.4 million in cash and $374.5 million in total long-term debt.