American Woodmark reports Q1 adjusted EPS $1.89, consensus $2.40

Reports Q1 revenue $459.1M, consensus $476.6M. “Our team delivered net sales growth in the new construction market, but this was more than offset by weaker than projected demand in the remodel market,” said CEO Scott Culbreth. “Softer demand in the remodel market is expected to continue and we have seen a recent slowdown in new construction single family starts. Despite these macroeconomic demand challenges, we continue to target share gains in all channels to ensure our performance exceeds market demand for the fiscal year.”