American Woodmark Corporation (NASDAQ:AMWD) Q1 2025 Earnings Conference Call August 27, 2024 8:30 AM ET

Company Participants

Paul Joachimczyk - Senior Vice President and Chief Financial Officer
Scott Culbreth - President and Chief Executive Officer

Conference Call Participants

Adam Baumgarten - Zelman & Associates
Garik Shmois - Loop Capital
Trevor Allison - Wolfe Research
Tim Wojs - Baird
Kathryn Thompson - Thompson Research Group

Operator

Good day, and welcome to the American Woodmark Corporation First Fiscal Quarter 2025 Conference Call. Today's call is being recorded, August 27, 2024.

During this call, the company may discuss certain non-GAAP financial measures including in our earnings release such as adjusted net income, adjusted EBITDA, adjusted EBITDA margin, free cash flow, net leverage and adjusted EPS per diluted share. The earnings release, which can be found on our website, americanwoodmark.com, includes definitions of each of these non-GAAP financial measures, the company's rationale for the usage and reconciliation of these non-GAAP financial measures to the most comparable GAAP financial measures.

We also use our website to publish other information that may be important to investors such as investor presentations. We will begin the call by reading the company's safe harbor statement under the Private Securities Litigation Reform Act of 1995. All forward-looking statements may be made by the company involve material risks and uncertainties and are subject to change based on factors that may be beyond the company's control. Accordingly, the company's future performance and financial results may differ materially from those expressed or implied in such forward-looking statements.

Such factors include, but are not limited to, those described in the company's filings with the Securities and Exchange Commission and the annual report to shareholders. The company does not undertake publicly update or revise its forward-looking statements even if experience or future changes may make it clear that the projected results expressed or implied therein will not be realized.

I would now like to turn the call over to Mr. Paul Joachimczyk, Senior Vice President and CFO. Please go ahead, sir.

Paul Joachimczyk

Good morning and welcome to American Woodmark’s first fiscal quarter conference call. Thank you for taking the time today to participate.

Joining me is Scott Culbreth, President and CEO. Scott will begin with a review of the quarter and I'll add additional details regarding our financial performance. After our comments, we'll be happy to answer your questions. Scott?

Scott Culbreth

Thank you, Paul, and thanks to everyone for joining us today for our first fiscal quarter earnings call. Our teams delivered net sales of $459.1 million, representing a decline of 7.9% versus the prior year. This was below our expectations provided during last quarter's call due to weaker demand during the summer in the remodel channel.