American Woodmark Corporation (NASDAQ:AMWD) shares rose on Tuesday following the company’s reported Q1 results, with revenue of $542.9 million beating the Street estimate of $512.85 million, while EPS of $1.21 missing the Street estimate of $1.28.
Despite the revenue beat, the company lowered guidance for sales growth from mid-to-high teens to mid-teens and narrowed guidance for EBITDA margin from high-single-digit – low-double-digits to low double-digits.
Analysts at Deutsche Bank raised their EBITDA estimates for 2023 to $189 million from $160 million and lowered their 2024 estimates to $196 million from $198 million. The analyst maintained their Sell rating and $45 price target.