American Woodmark Corporation (NASDAQ: AMWD) has announced its financial results for the fourth fiscal quarter and fiscal year ended April 30, 2025. The company reported a 11.7% year-over-year decrease in net sales for the fourth quarter, amounting to $400.4 million. Net income for this period also decreased by 4.6% to $25.6 million, representing 6.4% of net sales. Adjusted EBITDA decreased by 13.9% year-over-year to $47.1 million, accounting for 11.8% of net sales.
For the full fiscal year 2025, the company reported a 7.5% year-over-year decrease in net sales, totaling $1,709.6 million. Net income for the fiscal year decreased by 14.4% to $99.5 million, amounting to 5.8% of net sales. Adjusted EBITDA for the fiscal year decreased by 17.5% year-over-year to $208.6 million, representing 12.2% of net sales.
Cash provided by operating activities for the fiscal year was $108.4 million, with free cash flow totaling $65.7 million. The company also repurchased 1,169,710 shares for $96.7 million during fiscal 2025.
Looking ahead to fiscal year 2026, American Woodmark Corporation expects low-single digit declines to low-single digit increases in net sales. The company targeted adjusted EBITDA in the range of $175 million to $200 million for the fiscal year.
As of April 30, 2025, the company had $48.2 million in cash and access to $314.2 million of additional availability under its revolving credit facility. Additionally, the company had $197.5 million in term loan debt and $173.4 million drawn on its revolving credit facility.
The company's management attributed the decline in sales to macroeconomic factors and stated that they successfully achieved a solid fourth fiscal quarter performance through operational enhancements and prudent spending measures across all functions.
In response to the decline in sales attributable to macroeconomic factors, the company's senior vice president and chief financial officer stated that for fiscal year 2026, given the wider range expected on net sales and economic uncertainty, the targeted adjusted EBITDA range is set at $175 million to $200 million.
American Woodmark Corporation is one of the nation's largest cabinet manufacturers, with over 7,800 employees and more than a dozen brands. The company partners with major home centers, builders, and independent dealers and distributors to provide customers with a range of cabinet options.
Please note that the company has presented certain financial measures in this press release which have not been prepared in accordance with U.S. generally accepted accounting principles (GAAP). The market has reacted to these announcements by moving the company's shares 2.67% to a price of $58.15. For more information, read the company's full 8-K submission here.
