American Woodmark Corporation Up 5.54% To $57.36 After Earnings Beat

American Woodmark Corporation (AMWD) beat out earnings estimates for Q2 2023 this morning.

The consensus among analysts for American Woodmark Corporation was for an earnings per share (EPS) of $1.91. The firm was able to surpass those projections, reporting an EPS of $2.24, a positive surprise of $0.33 (17%). Profits rose 261% year-over-year after reporting an EPS of $0.62 in its year-ago quarter. The positive growth rate signals that the Consumer Cyclical company is performing well amid recent economic conditions.

Analyst projections for American Woodmark Corporation revenue came in at a consensus of $553 million. Second-Quarter revenues surpassed estimates for $561.5 million by $8.5 million (2%). The company achieved 24% growth year-over-year compared to the firm's revenue of $453.2 million from the year-ago quarter. The higher earnings growth relative to revenue signals American Woodmark Corporation has improved its profit margin.

The stock is up 5.54% to $57.36 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.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned American Woodmark Corporation a Bullish Sentiment Rank from InvestorsObserver.

American Woodmark Corporation has performed a little above average during the past few months. Before the report, American Woodmark Corporation received a Long-Term Technical Rank by InvestorsObserver of 53, putting it in the top half of stocks. The firm set a 52-week low on June 22, 2022 at $40.7 and set a 52-week high on November 22, 2021 at $73.22.

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.