AMERICAN WOODMARK CORPAMWD

AMERICAN WOODMARK CORP Earnings Per Share Disclosure

10-KFiled Jun 25, 20252 min read
Earnings Per Share
 
The following table summarizes the computations of basic and diluted earnings per share:
 FISCAL YEARS ENDED APRIL 30,
(in thousands, except per share amounts)202520242023
Numerator used in basic and diluted earnings per common share:  
Net income$99,456 $116,216 $93,723 
Denominator: 
Denominator for basic earnings per common share - 
weighted-average shares15,190 16,139 16,614 
Effect of dilutive securities:
Stock options and restricted stock units109 121 71 
Denominator for diluted earnings per common share -   
weighted-average shares and assumed conversions15,299 16,260 16,685 
Net earnings per share   
Basic$6.55 $7.20 $5.64 
Diluted$6.50 $7.15 $5.62 

There were no anti-dilutive securities for the fiscal years ended April 30, 2025, 2024 and 2023, which were excluded from the calculation of net earnings per share.
On November 20, 2024 the Board authorized an additional stock repurchase program of up to $125 million of the Company's outstanding common shares. This authorization is in addition to the $125 million stock repurchase program authorized on November 29, 2023. Repurchases may be made from time to time in the open market, or through privately negotiated transactions or otherwise, in compliance with applicable laws, rules and regulations, at prices and on terms the Company deems appropriate and subject to the Company's cash requirements for other purposes, compliance with the covenants under the A&R Credit Agreement, and other factors management deems relevant. The authorization does not obligate the Company to acquire a specific number of shares during any period, and the authorization may be modified, suspended or discontinued at any time at the discretion of the Board. The Company repurchased a total of 1,169,710 and 1,108,715 common shares, for an aggregate purchase price of $96.7 million and $87.7 million of its common shares during fiscal 2025 and 2024, respectively. The Company did not repurchase any of its shares during fiscal 2023. The Company funded share repurchases using available cash and cash equivalents, as well as cash generated from operating activities. Repurchased shares became authorized but unissued common shares. At April 30, 2025, $117.8 million remained authorized by the Board to repurchase the Company’s common shares.

Historical Timeline

Fiscal YearFiled
2025Jun 25, 2025Showing above
2024Jun 26, 2024
2023Jun 27, 2023
2022Jun 29, 2022
2020Jun 29, 2020

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

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