AMERICAN WOODMARK Reports Q2 FY2024 Earnings Results as of October 31 2023

🌥️Earnings Overview

On November 30 2023, AMERICAN WOODMARK ($NASDAQ:AMWD) reported their earnings results for Q2 of FY2024, ending October 31 2023. Total revenue in the second quarter was USD 473.9 million, a decrease of 15.6% from the same period in the prior year. However, their reported net income was USD 30.3 million, a 5.4% increase from the same period last year.

Market Price

On Thursday, October 31, 2023, AMERICAN WOODMARK reported its Q2 FY2024 earnings results. The stock opened at $72.1 and closed at $72.4, which is up by 0.5% from the previous closing price of $72.0. This is an indicator of the company’s financial stability and growth potential. This is a positive sign as it shows that the company is turning a profit and is growing.

This indicates that AMERICAN WOODMARK is continuing to see strong demand for its products and services. Overall, AMERICAN WOODMARK reported a strong performance in Q2 FY2024, with an increase in net income and total sales compared to the same period last year. This indicates that the company is in a good financial position with the potential for further growth in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for American Woodmark. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for American Woodmark. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for American Woodmark. More…

Key Ratios Snapshot

Some of the financial key ratios for American Woodmark are shown below. More…

Analysis

At GoodWhale, we are proud to analyze the financials of AMERICAN WOODMARK using our advanced analytics tools. According to Star Chart, AMERICAN WOODMARK has a health score of 8/10, meaning that the company is capable of paying off debt and funding future operations. Furthermore, AMERICAN WOODMARK is classified as a “rhino” type of company, which indicates that the company has achieved moderate revenue or earnings growth. Given its strong performance in terms of cashflows and debt, AMERICAN WOODMARK is likely to be attractive to growth investors looking for a company with the potential for capital appreciation. Furthermore, given its medium performance in terms of growth, profitability, and weak performance in terms of asset and dividend, value investors may also be interested in the stock given its potential for dividend income. 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 Corporation’s Q2 FY2024 earnings report revealed a 15.6% decrease in revenue from the same quarter the prior year. Despite this decline, net income increased 5.4%, to USD 30.3 million. Analysts note that the company’s cost-cutting measures have been effective, reducing expenses and driving higher profit margins.

In addition, the company has been able to diversify its product offerings, allowing it to capture more market share. Going forward, American Woodmark is well positioned to capitalize on rising demand for kitchen cabinets and other wood products. As such, investors are encouraged to watch the company’s performance and consider investing in American Woodmark.