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Why American Woodmark Stock Crashed 11% on Tuesday

TheMotleyFool

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Why American Woodmark Stock Crashed 11% on Tuesday: https://g.foolcdn.com/editorial/images/788713/construction-workers-examine-blueprints-in-front-of-a-house-under-construction.jpg

American Woodmark (NASDAQ: AMWD) stock sold off hard on Tuesday morning, falling 11% through 12:30 p.m. ET after reporting a big earnings miss.

Ahead of the fiscal first-quarter 2025 report the company delivered before the opening bell, analysts had forecast the Virginia cabinetmaker would earn $2.40 per share on sales of $476.6 million. Instead, American Woodmark reported a profit of $1.89 per share and sales of $459.1 million.

Not all the news was bad. CEO Scott Culbreth blamed weak demand among home remodelers for the company's 8% year-over-year decline in sales, noting that sales to homebuilders actually grew in the quarter.

Source Fool.com

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