American Woodmark Corporation (NASDAQ:AMWD) Q2 2025 Earnings Conference Call November 26, 2024 8:30 AM ET

Company Participants

Paul Joachimczyk - SVP and CFO
Scott Culbreth - President and CEO

Conference Call Participants

Trevor Allinson - Wolfe Research
Garik Shmois - Loop Capital
Steven Ramsey - Thompson Research Group
Adam Baumgarten - Zelman & Associates
Tim Wojs - Baird

Operator

Good day, everyone, and welcome to the American Woodmark Corporation's Second Fiscal Quarter 2025 Conference Call. Today's call is being recorded, November 26, 2024.

During this call, the company may discuss certain non-GAAP financial measures included 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 their usage and a 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'll begin today's call by reading the company's Safe Harbor statement under the Private Securities Litigation Reform Act of 1995. All forward-looking statements 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 any 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 to publicly update or revise its forward-looking statements, even if experience or future changes, make it clear that any projected results expressed or implied therein will not be realized.

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

Paul Joachimczyk

Hey, good morning, and welcome to American Woodmark's second fiscal quarter conference call. Thank you for taking the time today to participate. Joining me are Scott Culbreth, President and CEO. Scott will begin with a review of the quarter, and I will 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 second fiscal quarter earnings call. Our teams delivered net sales of $452.5 million, representing a decline of 4.5% versus the prior year. This was in-line with the expectations we shared last quarter. The year-over-year decline was due to continued softer demand in the remodel market, along with the slowdown in new construction single family starts over the summer.