American Woodmark (NASDAQ: AMWD) reported Q3 EPS of $1.66, $0.37 better than the analyst estimate of $1.29. Revenue for the quarter came in at $422.1 million versus the consensus estimate of $396.02 million.

Fiscal 2024 Financial Outlook

For the full fiscal year 2024, including the third fiscal quarter results, the Company is:

Reaffirming low double digit net sales decline year-over-year, with high single digit declines in the fourth fiscal quarter
Increasing and narrowing the Adjusted EBITDA outlook to the range of $247 million to $253 million

“During the recently completed third fiscal quarter, our teams improved Adjusted EBITDA by 140 BPS to $50.6 million, or 12.0% of net sales. Our teams have sustained performance throughout the year to help deliver on the commitment to improving our results,” said Paul Joachimczyk, Senior Vice President and Chief Financial Officer. “Given our strong performance for the first three quarters of the fiscal year, we are narrowing and increasing our range for the full fiscal year 2024 Adjusted EBITDA outlook to $247 million to $253 million.”

Our Adjusted EBITDA outlook excludes the impact of certain income and expense items that management believes are not part of underlying operations. These items may include restructuring costs, interest expense, stock-based compensation expense, and certain tax items. Our management cannot estimate on a forward-looking basis the impact of these income and expense items on its reported net income, which could be significant, are difficult to predict, and may be highly variable. As a result, the Company does not provide a reconciliation to the closest corresponding GAAP financial measure for its Adjusted EBITDA outlook.

For earnings history and earnings-related data on American Woodmark (AMWD) click here.