Amer Woodmark Cp Up 10.62% To $80.09 After Earnings Beat

American Woodmark Corporation (AMWD) beat out earnings estimates for Q2 2024 this afternoon.

Amer Woodmark Cp's earnings came in at an EPS of $2.36 per share, 13.00% higher than estimates for an EPS of $2.08 per share. The firm's earnings are up 5% since reporting $2.24 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $470.9 million. The Consumer Cyclical company managed to surpass those expectations for its second quarter with revenue of $473.9 million, a positive revenue surprise of $3 million (1%). The firm managed negative 16% growth year-over-year due to Amer Woodmark Cp reporting quarterly revenue of $561.5 million in its year-ago quarter. Amer Woodmark Cp achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 10.62% to $80.09 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Amer Woodmark Cp a Bearish Sentiment Rank from InvestorsObserver.

Amer Woodmark Cp has performed a little above average during the past few months. Before the report, Amer Woodmark Cp received a Long-Term Technical Rank by InvestorsObserver of 65, putting it in the top half of stocks. The firm set a 52-week high on September 1, 2023 at $80.27 and set a 52-week low on April 27, 2023 at $47.98.

American Woodmark Corp manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. The company offers framed stock cabinets in over 400 different cabinet lines and prices from relatively inexpensive to medium-priced styles. Its products are sold on a national basis across the United States to the remodeling and new home construction markets. The products are sold under the brand names American Woodmark, Simply Woodmark, Timberlake, Shenandoah Cabinetry, Shenandoah Value Series, and Waypoint Living Spaces.