American Woodmark rises after Q2 beat

American Woodmark

01/12/2023 15:37

** Shares of kitchen cabinet maker American Woodmark
 AMWD.O  rise 10.5% to $79.99 after Q2 results beat estimates
    ** Stock hit intra-day high in more than two years earlier
in the session
    ** Company reports Q2 sales of $473.9 mln, beating LSEG
estimates of $470.9 mln
    ** Q2 adj. EPS of $2.36 also above analysts' estimate of
$2.08
    ** Company sees FY24 core profit in the range of $235
mln-$250 mln, vs its prior forecast range of $225 mln-$245 mln
    ** AMWD announces stock buyback of up to $125 mln,
cancelling the remaining $22.98 mln that had yet to be
repurchased under the existing authorization
    ** Stock up 63% YTD, including session's gains 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))