American Woodmark to close Monterrey plant, expects $36-40M charges, $7.5M annual savings

AMERICAN WOODMARK CORP

• Board authorized wind-down of Monterrey, Mexico plant due to low demand and rising tariff costs; consolidation to Tijuana and US plants by June 30, 2026.
• Estimated one-time charges of $36-40M, with $32.5-36.5M in fiscal 2027; subsequent years $3.6M.
• Non-cash charges include $12.5-14.7M building lease ROU impairment, $13.1M equipment depreciation, $3.5M software amortization, $0.6M leasehold improvements.
• Cash costs: $1.2M employee costs, $0.7-2.2M equipment moves/inventory transfers, $0.9-1.2M closure costs; $2.6M cash in FY 2029 and $0.9M non-cash in FY 2030.
• Expects ~$7.5M annual cost savings from reduced tariffs, labor, and overhead beginning in fiscal 2027.

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