Investor Presentaiton
Reconciliation of Adjusted Non-GAAP Financial Measures to the
GAAP Equivalents
Adjusted EBITDA and Adjusted EBITDA Margin (in thousands)
Year ended
April 30, 2013
Year ended
April 30, 2018
Year ended
April 30, 2019
Year ended
April 30, 2020
Year ended
April 30, 2021
Year ended
April 30, 2022
Year ended
April 30, 2023
Net income (GAAP)
Add back:
Income tax expense
Interest (income) expense, net
Depreciation and amortization expense
Amortization of customer relationship intangibles and trademarks
EBITDA (Non-GAAP)
Add back:
Acquisition related expenses
Inventory step-up amortization
Non-recurring restructuring charges, net
Pension Settlement
Net loss on debt modification
Change in fair value of foreign exchange forward contracts
Stock-based compensation expense
Loss on asset disposal
Adjusted EBITDA (Non-GAAP)
Net Sales
Adjusted EBITDA margin (Non-GAAP)
$
9,758
$
63,141
$
83,688
$
74,861
$
61,193
$ (29,722)
93,723
6,982
31,619
27,200
25,687
19,500
(13,257)
28,963
643
13,054
35,652
29,027
23,128
10,189
15,994
14,431
28,671
45,446
49,513
51,100
50,939
48,077
16,333
49,000
49,000
47,889
45,667
45,667
$
31,814
$
152,818 $ 240,986 $ 228,088 $ 202,810 $
63,816
$ 232,424
$
12,902
6,334
$
4,118
$
221
$
174 $
80 $
80
270
5,848
183
68,473
1,525
(7)
(5,266)
13,792
(2,089)
1,102
(1,102)
3,509
3,040
1,973
3,097
615
(250)
35,343 $ 175,766 $ 244,851 $ 236,029 $ 226,504 $ 137,957 $ 240,379
3,989
4,598
2,629
384
4,708
697
7,396
1,050
$
630,437
5.6%
1,250,274 $ 1,645,319 $ 1,650,333 $
14.1%
14.9%
14.3%
1,744,014
13.0%
$ 1,857,186
7.4%
$ 2,066,200
11.6%
A reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin as projected is not provided because we do not forecast Net Income as we
cannot, without unreasonable effort, estimate or predict with certainty various components of Net Income.
American Woodmark
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