WINCHESTER, Va. - American Woodmark (NASDAQ:AMWD) Corporation (NASDAQ:AMWD) reported second quarter fiscal 2025 results that fell short of analyst estimates, sending shares down 3.8% in early trading.
The cabinet manufacturer posted adjusted earnings per share of $2.08, missing the consensus forecast of $2.37. Revenue declined 4.5% YoY to $452.5 million, also below expectations of $458.29 million.
Net income for the quarter decreased to $27.7 million from $30.3 million in the same period last year. The company cited softer demand in the remodel market and a slowdown in new construction single family starts over the summer as factors impacting results.
"Our team delivered net sales and Adjusted EBITDA performance that was in-line with the expectations we shared last quarter," said Scott Culbreth, President and CEO. "We expect the demand trends to remain challenging but are reaffirming our outlook for a low single-digit decline in net sales for the full fiscal year."
For fiscal 2025, American Woodmark forecasts a low single-digit decline in net sales YoY and adjusted EBITDA between $225 million to $235 million.
The company repurchased 348,877 shares for $32.5 million during the quarter. Its board also approved an additional $125 million authorization for future share repurchases.
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