American Woodmark falls after quarterly results miss

American Woodmark

26/11/2024 14:01

** Cabinet maker American Woodmark Corp's  AMWD.O  shares
fall 2% to $98.89 in light premarket trading
    ** AMWD reports quarterly adjusted profit of $2.08 per
share, missing analysts' estimate of $2.36 per share, according
to data complied by LSEG
    ** Q2 net sales down 4.5% to $452.5 million, below analysts'
expectations of $458.3 million
    ** Co expects low single-digit decline in 2025 net sales
year-over-year
    ** "The quarter was impacted by continued softer demand in
the remodel market along with the slowdown in new construction
single family starts over the summer,” says CEO Scott Culbreth
    ** Board approved an additional $125 million for future
share repurchases
    ** Up to Monday's close, stock had risen 8.6% YTD
   

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))