secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN WOODMARK CORP (AMWD)
CIK:        0000794619
Form:       8-K
Filed at:   2021-08-31T23:59:59+00:00
Accession:  0000794619-21-000071
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

American Woodmark Q1 net income falls 81% to $3M despite 13.5% revenue growth; margins compress on inflation
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- Net sales $442.6M, +13.5% YoY; net income $3.0M ($0.18 diluted) vs $16.1M ($0.94) prior year.
- Adjusted EPS $0.70 (vs $1.63); Adjusted EBITDA $32.1M (7.3% of sales) vs $56.4M (14.5%).
- Inflationary pressures outpaced pricing; only ~$3M realized in Q1; expect >$25M/quarter benefit by H2 FY2022.
- Free cash flow negative ($8.1)M due to inventory buildup and payables timing; cash $27.8M, $243M revolver available.
- Accounting method changed from LIFO to FIFO effective May 1, 2021; all prior periods retrospectively adjusted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/794619/000079461921000071/0000794619-21-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/794619/000079461921000071/amwd-20210831.htm
  HTML page:      https://secwatch.observer/filing/0000794619-21-000071

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