AMERICAN WOODMARK Announces Q1 FY2024 Earnings Results for Period Ending August 29 2023
September 1, 2023
🌥️Earnings Overview
On July 31st 2023, AMERICAN WOODMARK ($NASDAQ:AMWD) reported its Q1 FY2024 earnings results for the period ending August 29th 2023. Total revenue decreased 8.2% year-on-year to USD 498.3 million; however, net income was up 88.6% from the same time period last year, amounting to USD 37.8 million.
Price History
The company’s stock opened at $72.2 and closed at $74.3, representing a 2.1% increase from its closing price of $72.8 the prior day. This is indicative of the strong performance of the company in the quarter, which has increased investor confidence. This indicates that American Woodmark is improving its cost efficiency and profitability.
American Woodmark’s success in the first fiscal quarter of 2023 is also reflected in its share price, which continues to rise steadily. Shareholders are encouraged by this positive news and are looking forward to seeing further growth in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for American Woodmark. More…
| Total Revenues | Net Income | Net Margin |
| 2.02k | 111.5 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for American Woodmark. More…
| Operations | Investing | Financing |
| 248.26 | -55 | -137.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for American Woodmark. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.53k | 636.26 | 54.49 |
Key Ratios Snapshot
Some of the financial key ratios for American Woodmark are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.8% | 9.9% | 7.9% |
| FCF Margin | ROE | ROA |
| 9.7% | 11.2% | 6.5% |
Analysis
At GoodWhale, we recently conducted an analysis of AMERICAN WOODMARK‘s wellbeing. The results of our assessment have revealed that AMERICAN WOODMARK falls into the ‘rhino’ category, meaning that the company has achieved moderate revenue or earnings growth. Based on this, we can conclude that investors interested in moderate returns may be attracted to AMERICAN WOODMARK. Furthermore, our Star Chart showed that AMERICAN WOODMARK scored strongly in growth, medium in profitability and weak in asset and dividend. This indicates that the company is likely to deliver steady returns without huge profits. Finally, our analysis also found that AMERICAN WOODMARK has a high health score of 8/10 with regard to its cash flows and debt, indicating that the company is in good shape and capable of sustaining future operations even in times of crisis. This is a positive sign for potential investors. More…
Peers
There is fierce competition between American Woodmark Corp and its competitors LGI Homes Inc, Landbay Inc, and Yotrio Group Co Ltd. All three companies are vying for market share in the wood cabinetry market. American Woodmark Corp has a strong presence in the United States, while its competitors are based in China. Yotrio Group Co Ltd is the largest of the three companies, but all three are well-established and have a loyal customer base.
– LGI Homes Inc ($NASDAQ:LGIH)
LGI Homes Inc is a homebuilding company that focuses on the development and construction of entry-level homes for first-time homebuyers. It has a market cap of 2.15B as of 2022 and a ROE of 19.45%. The company operates in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, Oklahoma, South Carolina, Colorado, Washington, and Tennessee.
– Landbay Inc ($OTCPK:LNBY)
Landbay Inc is a real estate lending platform that enables investors to earn interest from loans secured by UK property. The company has a market capitalization of £9.75 million and a return on equity of 37.4%. Landbay offers a variety of investment products, including fixed-rate bonds and peer-to-peer loans, that offer attractive returns and are backed by physical property. The company is headquartered in London, England.
– Yotrio Group Co Ltd ($SZSE:002489)
Yotrio Group Co Ltd is a company that manufactures and sells outdoor products. It has a market cap of 7.48B as of 2022 and a Return on Equity of -1.47%. The company’s products include tents, awnings, and other outdoor gear. It also operates an online store.
Summary
American Woodmark reported total revenue of USD 498.3 million for the first quarter of FY2024, representing an 8.2% decline year over year. Despite this, net income was up 88.6% to USD 37.8 million. Investors may be encouraged by the strong performance in net income as compared to the revenue decline, indicating that the company is managing costs efficiently and remaining profitable. With earnings season still in its early stages, American Woodmark’s results may be indicative of a good performance in the coming quarters.
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