American Woodmark Corporation (AMWD) plunged over 10% in pre-market trading on Thursday, following the release of its fiscal third-quarter 2025 results that missed analyst expectations and a weaker outlook for the full year.
The cabinet manufacturer reported adjusted earnings per share of $1.05 for the quarter ended January 31, 2025, falling short of the consensus estimate of $1.33. Net sales of $397.6 million also came in below analysts' expectations of $405.7 million, representing a 5.8% year-over-year decline.
The company attributed the disappointing results to softer demand in the remodel market and a decline in new single-family construction activity as inventories were reduced. CEO Scott Culbreth stated, "The quarter was impacted by softer demand in the remodel market and a decline in new construction single family activity as inventories were reduced."
Moreover, American Woodmark revised its full-year fiscal 2025 guidance, now expecting a mid-single-digit decline in net sales year-over-year, compared to its previous forecast of a low single-digit decline. The company also projected adjusted EBITDA in the range of $210 million to $215 million for the fiscal year, reflecting ongoing challenges in the operating environment.
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