Why American Woodmark (AMWD) Shares Are Surging Today - American Woodmark (NASDAQ:AMWD)

American Woodmark Corp AMWD reported first-quarter revenue growth of 22.7% at $542.9 million, beating the consensus of $513.07 million.
Adjusted EPS was $1.71, above the consensus of $1.29.
The gross margin expanded by 393 bps to 15.9%. The operating income improved five-fold to $30.8 million, with the margin expanding by 422 bps to 5.7%.
American Woodmark's cash provided by operating activities for the quarter totaled $37.29 million, compared to $6.59 million a year ago. Free cash flow was $32.72 million.
Adjusted EBITDA increased by 76% Y/Y to $56.5 million, and margin improved to 10.4%, from 7.3% in 1Q22.
As of July 31, 2022, the company had $33.7 million cash on hand with no term loan debt maturities until July 2023.
"We committed to improving our results as price realization started to better match inflationary impacts and we improved our costs through operating efficiency initiatives," commented CEO Scott Culbreth.
Price Action: AMWD shares traded higher by 14.90% at $54.51 on the last check Tuesday.

American Woodmark Q1 Performance Exceeds Street Expectations