Why American Woodmark Shares Are Jumping Today

American Woodmark Corp AMWD reported a Q4 FY23 preliminary net sales decline of 4.1% Y/Y to $481.1 million, beating the consensus of $477.5 million.
Adjusted EPS was $2.21, above the consensus of $1.53.
Adjusted EBITDA rose 46.7% Y/Y to $65.3 million, with a margin improvement to 13.6% vs 8.9% a year ago.
Operating cash flow was $85.9 million, and FCF stood at $61.9 million in Q4 FY23.
As of April 30, 2023, cash & cash equivalents stood at $41.7 million, with additional availability under its revolving credit facility of $323.2 million.
Outlook: For FY 2024, the company expects a low double-digit net sales decline Y/Y and adjusted EBITDA of $205 million-$225 million.
"We delivered our anticipated strong financial performance in the fourth quarter of fiscal year 2023. Our free cash flow generation of $153.5 million in fiscal year 2023 is helping fund our internal investments for growth in fiscal year 2024. The strengthening in our operational performance throughout the year combined with the platform changes we began executing in fiscal year 2023, gives us the confidence that we can deliver strong margin performance in the dynamic market conditions," stated Scott Culbreth, President and CEO.
Price Action: AMWD shares are trading higher by 12.58% at $60.78 on the last check Thursday.
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