American Woodmark Swings to $28.7M Loss as Q3 Revenue Falls 18% to $324.3M

American Woodmark Corp (NYSE: AMWD), a cabinet manufacturer, swung to a net loss of $28.7 million for the three months ending January 31, 2026, compared to net income of $16.6 million in the same quarter a year earlier. The company reported a loss of $1.97 per diluted share, down from earnings of $1.09 per share in the prior-year period. Read more earnings reports.

Revenue fell 18% to $324.3 million from $397.6 million in the third quarter of fiscal 2025. For the nine months ending January 31, 2026, revenue dropped 14% to $1.12 billion from $1.31 billion in the prior-year period.

Cost of goods sold declined to $286.5 million from $337.8 million, but gross profit narrowed sharply to $37.8 million from $59.8 million. The company posted an operating loss of $33.9 million, a steep reversal from operating income of $21.1 million a year earlier.

For the nine-month period, American Woodmark reported a net loss of $8.0 million, compared to net income of $73.9 million in the first nine months of fiscal 2025. Operating results for the nine months showed a loss of $1.3 million versus operating income of $110.7 million in the prior year.

Cash and cash equivalents stood at $28.3 million as of January 31, 2026, down from $48.2 million at the end of fiscal 2025 on April 30, 2025. The company generated $31.1 million in cash from operations during the nine-month period, down from $63.7 million in the prior year.

Total assets declined to $1.51 billion from $1.57 billion at the end of April 2025. Stockholders' equity fell to $901.9 million from $916.0 million over the same period. The company reduced its goodwill to $737.5 million from $767.6 million.

Inventory increased to $188.7 million from $178.1 million, while accounts receivable fell to $92.1 million from $111.2 million. Accounts payable declined to $45.9 million from $50.3 million. The company had 14.6 million shares outstanding as of January 31, 2026, down slightly from 14.6 million shares at the end of April 2025.