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Consumer stocks were lower today with shares of consumer staples companies in the S&P 500 slipping about 0.4%. Shares of consumer discretionary firms in the S&P 500 also were off about 0.2%.
In company news, American Woodmark ( AMWD ) shares rose Tuesday, with the kitchen cabinet-maker bouncing back from a decline to a new 52-week low and overcoming a miss with its Q4 adjusted earnings by posting a small gain in its per-share GAAP earnings for the three months ended April 30 over year-ago levels.
The company today reported GAAP net income of $5.6 million, or $0.36 per share, up from a $5.2 million profit and EPS of $0.35 during the same quarter last year. Excluding after-tax restructuring charges, its adjusted earnings slipped to $5.4 million, or $0.34 per share, topping the adjusted $5.1 million gain reported last year but trailing analyst projections by $0.07 per share.
Revenue rose 10.4% year over year to $188.9 million, beating the Capital IQ consensus by around $830,000. AMWD executives said the firm enjoyed growth in both its remodeling and new construction channels, with cabinetry going into new homes rising 25% over year-ago levels.
AMWD shares were up about 2% in late trade this afternoon at $28.34 each, recovering from an early slide to $25.10 a share and matching its lowest share price since October 2012. Overall, the stock has declined about 22% over the past 12 months.
In other sector news,
(+) DG, Q1 revenue grows 6.8% year over year to $4.52 bln, matching analyst estimates. Also reaffirms FY15 EPS of $3.45 to $3.55 on 8% to 9% revenue growth, in-line with Street view looking for $3.51 per share profit and $19.02 bln in sales.
(-) ZQK, Reports Q2 net loss of $0.15 per share, $0.13 wider than the Capital IQ consensus. Revenue falls 10.5% to $408 mln, trailing estimates by $38.61 mln. Extends goal of profit-improvement program until the end of FY17.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
