American Woodmark Corporation reported a 12.2% decrease in net sales for the first quarter of fiscal 2026.
Net income decreased by 50.7% year-over-year to $14.6 million, representing 3.6% of net sales.
Adjusted EBITDA decreased by 32.8% year-over-year to $42.2 million, accounting for 10.5% of net sales.
Financial Decline
Net sales dropped by 12.2% and net income decreased by 50.7% compared to the previous year.
Adjusted EBITDA
Adjusted EBITDA declined by 32.8% to $42.2 million, reflecting challenges in market demand.
Cash Flow
Cash provided by operating activities amounted to $33.1 million, with free cash flow of $24.9 million.
- The decrease in net sales and income was attributed to a mix shift towards value-based offerings, increased product input costs, tariffs, and other expenses.
- The company's cost-control measures partially offset the impact of increased costs, resulting in a lower Adjusted EPS per diluted share compared to the previous year.
Despite facing challenges in market demand and cost pressures, American Woodmark Corporation remains optimistic about its team's capabilities in navigating the current economic environment.