Why American Woodmark Shares Are Jumping Today
Portfolio Pulse from Lekha Gupta
American Woodmark Corp (NASDAQ:AMWD) reported Q4 FY23 preliminary net sales of $481.1 million, a 4.1% Y/Y decline, beating the consensus of $477.5 million. Adjusted EPS was $2.21, above the consensus of $1.53. The company expects a low double-digit net sales decline Y/Y for FY 2024.
May 25, 2023 | 3:18 pm
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POSITIVE IMPACT
American Woodmark's Q4 FY23 net sales and adjusted EPS beat consensus estimates, but the company expects a low double-digit net sales decline for FY 2024.
American Woodmark's Q4 FY23 net sales and adjusted EPS exceeded consensus estimates, which is a positive sign for investors. However, the company's outlook for FY 2024 indicates a low double-digit net sales decline Y/Y, which may cause some concern. Despite this, the stock price is up 12.58% on the news, indicating that the market is reacting positively to the earnings beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100