American Woodmark Corporation Announces First Quarter Results

American Woodmark Corporation (“American Woodmark,” “the Company,” “we,” “our,” or “us”) announced results for its first fiscal quarter ended July 31, 2025.

Fiscal First Quarter 2026 Financial Highlights:

• Net sales decreased 12.2% year-over-year to $403.0 million
• Net income decreased 50.7% year-over-year to $14.6 million; 3.6% of net sales
• GAAP EPS of $1.00; adjusted EPS of $1.01
• Adjusted EBITDA decreased 32.8% year-over-year to $42.2 million; 10.5% of net sales
• Cash provided by operating activities of $33.1 million; free cash flow of $24.9 million
• Repurchased 209,757 shares for $12.4 million

“The new construction and remodel market continued to be weaker than expected for the first quarter of fiscal year 2026.  Our teams are executing well despite the lower volumes and delivered Adjusted EBITDA margins of 10.5% for the first fiscal quarter,” said Scott Culbreth, President and CEO. “Demand trends are expected to remain challenging in both markets, but I am confident in our team’s ability to navigate the current macroeconomic environment.”

First Quarter Results

Net sales for the first quarter of fiscal 2026 decreased $56.1 million, or 12.2%, to $403.0 million compared with the same quarter last fiscal year. Net income was $14.6 million ($1.00 per diluted share and 3.6% of net sales) compared with $29.6 million ($1.89 per diluted share and 6.5% of net sales) last fiscal year. This was due to lower net sales combined with an unfavorable mix shift towards value-based offerings, increased product input costs, including tariffs, pre-tax post-implementation ERP support costs of $2.0 million for our west coast site that went live in early May, pre-tax merger related expenses of $2.8 million, increased pre-tax interest expense of $1.8 million over prior year, and pre-tax restructuring charges, net totaling $0.8 million. These increased costs were partially offset by a favorable mark-to-market adjustment on our foreign exchange forward contracts of $8.9 million over prior year, and controlled discretionary spending. Adjusted EPS per diluted share was $1.01 for the firstquarter of fiscal 2026 compared with $2.14¹ last fiscal year. Adjusted EBITDA for the first quarter of fiscal 2026 decreased $20.7 million, or 32.8%, to $42.2 million, or 10.5% of net sales, compared with $62.9 million, or 13.7% of net sales, last fiscal year. 

In light of our proposed merger with MasterBrand, Inc., previously announced on August 6, 2025, we will not be holding a conference call to discuss our first quarter of fiscal 2026 results and we will not be providing or updating previously issued financial guidance.

¹During the second quarter of fiscal 2025, the Company changed its definition of Adjusted EPS per diluted share to exclude the change in fair value of foreign exchange forward contracts to be consistent with its definition of Adjusted EBITDA. Prior period amounts have been adjusted to conform to current period presentation.

Balance Sheet & Cash Flow

As of July 31, 2025, the Company had $54.9 million in cash plus access to $315.2 million of additional availability under its revolving credit facility. Also, as of July 31, 2025, the Company had $196.3 million in term loan debt and $173.4 million drawn on its revolving credit facility and net leverage was 1.69.

Cash provided by operating activities for the first quarter of fiscal 2025 was $33.1 million and free cash flow totaled $24.9 million. The Company repurchased 209,757 shares, or approximately 1.4% of shares outstanding, for $12.4 million during the first quarter of fiscal 2026. 

For full results click here.

About American Woodmark

American Woodmark celebrates the creativity in all of us. With over 7,800 employees and more than a dozen brands, we’re one of the nation’s largest cabinet manufacturers. From inspiration to installation, we help people find their unique style and turn their home into a space for self-expression. By partnering with major home centers, builders, and independent dealers and distributors, we spark the imagination of homeowners and designers and bring their vision to life. Across our service and distribution centers, our corporate office, and manufacturing facilities, you’ll always find the same commitment to customer satisfaction, integrity, teamwork, and excellence. Visit americanwoodmark.com to learn more and start building something distinctly your own.

Contact:

Kevin Dunnigan – VP & Treasury Director – (540) 665-9100

Source: American Woodmark Corporation