American Woodmark (AMWD) 10-Q29 Feb 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Jan. 31, 2024	Feb. 28, 2024
Cover [Abstract]
Entity Central Index Key	0000794619
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2024
Document Transition Report	false
Entity File Number	000-14798
Entity Registrant Name	American Woodmark Corp
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1138147
Entity Address, Address Line One	561 Shady Elm Road,
Entity Address, City or Town	Winchester,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22602
City Area Code	540
Local Phone Number	665-9100
Title of 12(b) Security	Common Stock
Trading Symbol	AMWD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,845,307

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Current assets
Cash and cash equivalents	$ 97,829	$ 41,732
Customer receivables, net	113,073	119,163
Inventories	163,382	190,699
Prepaid expenses and other	27,846	16,661
Total current assets	402,130	368,255
Property, plant and equipment, net	252,168	219,415
Operating lease right-of-use assets	130,074	99,526
Intangible Assets, Net (Excluding Goodwill)	0	30,444
Goodwill	767,612	767,612
Promotional displays, net	3,750	6,970
Deferred Tax Assets, Net of Valuation Allowance	1,470	1,469
Other assets	16,633	25,107
TOTAL ASSETS	1,573,837	1,518,798
Current liabilities
Accounts payable	64,905	63,915
Current maturities of long-term debt	2,137	2,263
Short-term lease liability - operating	26,718	24,778
Accrued compensation and related expenses	62,049	49,953
Accrued marketing expenses	13,374	12,528
Other accrued expenses	19,098	24,687
Total current liabilities	188,281	178,124
Long-term debt, less current maturities	371,307	369,396
Deferred Income Tax Liabilities, Net	2,423	11,930
Long-term lease liability - operating	110,768	81,370
Other long-term liabilities	4,148	4,190
Shareholders' equity
Preferred stock, $1.00 par value; 2,000,000 shares authorized, none issued	0	0
Common stock, no par value; 40,000,000 shares authorized; issued and outstanding shares: at January 31, 2024: 15,812,027; at April 30, 2023: 16,635,295	360,354	370,259
Retained earnings	529,063	493,157
Accumulated Other Comprehensive Income (Loss), Net of Tax	7,493	10,372
Total shareholders' equity	896,910	873,788
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,573,837	$ 1,518,798

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2024	Apr. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Common stock, no par value (in usd per share)	$ 0	$ 0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	15,812,027	16,635,295
Common stock, shares outstanding	15,812,027	16,635,295

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Income Statement [Abstract]
Net sales	$ 422,102	$ 480,713	$ 1,394,224	$ 1,585,105
Cost of sales and distribution	341,162	405,373	1,100,516	1,324,284
Gross Profit	80,940	75,340	293,708	260,821
Selling and marketing expenses	21,945	21,364	68,990	71,781
General and administrative expenses	31,116	28,848	101,746	91,129
Restructuring charges, net	0	1,310	(198)	1,310
Operating Income	27,879	23,818	123,170	96,601
Interest expense, net	1,932	4,303	6,322	12,778
Pension settlement, net	0	293	0	48
Other expense, net	(2,498)	(411)	(523)	(1,082)
Income Before Income Taxes	28,445	19,633	117,371	84,857
Income tax expense	7,218	4,905	27,953	21,275
Net Income	$ 21,227	$ 14,728	$ 89,418	$ 63,582
Weighted Average Shares Outstanding
Basic (in shares)	15,991,520	16,621,827	16,267,999	16,606,700
Diluted (in shares)	16,124,198	16,695,714	16,380,756	16,661,234
Net earnings per share
Basic (in usd per share)	$ 1.33	$ 0.89	$ 5.50	$ 3.83
Diluted (in usd per share)	$ 1.32	$ 0.88	$ 5.46	$ 3.82

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 21,227	$ 14,728	$ 89,418	$ 63,582
Other comprehensive income, net of tax:
Change in Cash flow hedges (swap), net of deferred taxes (benefit) of $(956) and $(890), and $(980) and $461 for the three- and nine-months ended January 31, 2024 and 2023, respectively	(2,807)	(2,627)	(2,879)	1,360
Total Comprehensive Income	$ 18,420	$ 12,101	$ 86,539	$ 64,942

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Cash Flow Hedging
Change In Pension Benefits And Derivative Hedging Activities [Line Items]
Other comprehensive income, deferred tax	$ (956)	$ (890)	$ (980)	$ 461

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	COMMON STOCK	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE LOSS
Balance at beginning of period (shares) at Apr. 30, 2022		16,570,619
Balance at beginning of period at Apr. 30, 2022	$ 772,883	$ 363,224	$ 399,434	$ 10,225
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,070		20,070
Other comprehensive loss, net of tax	(1,278)			(1,278)
Stock-based compensation	1,635	$ 1,635
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		25,908
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(772)	$ (772)
Balance at end of period (shares) at Jul. 31, 2022		16,596,527
Balance at end of period at Jul. 31, 2022	792,538	$ 364,087	419,504	8,947
Balance at beginning of period (shares) at Apr. 30, 2022		16,570,619
Balance at beginning of period at Apr. 30, 2022	772,883	$ 363,224	399,434	10,225
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	63,582
Balance at end of period (shares) at Jan. 31, 2023		16,621,827
Balance at end of period at Jan. 31, 2023	843,140	$ 368,539	463,016	11,585
Balance at beginning of period (shares) at Jul. 31, 2022		16,596,527
Balance at beginning of period at Jul. 31, 2022	792,538	$ 364,087	419,504	8,947
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,784		28,784
Other comprehensive loss, net of tax	5,265			5,265
Stock-based compensation	1,754	$ 1,754
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		8,200
Exercise of stock-based compensation awards, net of amounts withheld for taxes	0	$ 0
Employee benefit plan contributions (shares)		17,100
Employee benefit plan contributions	838	$ 838
Balance at end of period (shares) at Oct. 31, 2022		16,621,827
Balance at end of period at Oct. 31, 2022	829,179	$ 366,679	448,288	14,212
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,728		14,728
Other comprehensive loss, net of tax	(2,627)			(2,627)
Stock-based compensation	1,860	$ 1,860
Balance at end of period (shares) at Jan. 31, 2023		16,621,827
Balance at end of period at Jan. 31, 2023	$ 843,140	$ 368,539	463,016	11,585
Balance at beginning of period (shares) at Apr. 30, 2023	16,635,295	16,635,295
Balance at beginning of period at Apr. 30, 2023	$ 873,788	$ 370,259	493,157	10,372
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	37,850		37,850
Other comprehensive loss, net of tax	914			914
Stock-based compensation	2,247	$ 2,247
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		55,092
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(1,830)	$ (1,830)
Stock repurchases (shares)		(328,295)
Stock repurchases	(22,280)	$ (6,565)	(15,715)
Employee benefit plan contributions (shares)		50,786
Employee benefit plan contributions	3,676	$ 3,676
Balance at end of period (shares) at Jul. 31, 2023		16,412,878
Balance at end of period at Jul. 31, 2023	$ 894,365	$ 367,787	515,292	11,286
Balance at beginning of period (shares) at Apr. 30, 2023	16,635,295	16,635,295
Balance at beginning of period at Apr. 30, 2023	$ 873,788	$ 370,259	493,157	10,372
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 89,418
Balance at end of period (shares) at Jan. 31, 2024	15,812,027	15,812,027
Balance at end of period at Jan. 31, 2024	$ 896,910	$ 360,354	529,063	7,493
Balance at beginning of period (shares) at Jul. 31, 2023		16,412,878
Balance at beginning of period at Jul. 31, 2023	894,365	$ 367,787	515,292	11,286
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30,341		30,341
Other comprehensive loss, net of tax	(986)			(986)
Stock-based compensation	2,155	$ 2,155
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		7,740
Exercise of stock-based compensation awards, net of amounts withheld for taxes	0	$ 0
Stock repurchases (shares)		(394,220)
Stock repurchases	(30,295)	$ (7,885)	(22,410)
Balance at end of period (shares) at Oct. 31, 2023		16,026,398
Balance at end of period at Oct. 31, 2023	895,580	$ 362,057	523,223	10,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	21,227		21,227
Other comprehensive loss, net of tax	(2,807)			(2,807)
Stock-based compensation	2,784	$ 2,784
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		1,258
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(46)	$ (46)
Stock repurchases (shares)		(215,629)
Stock repurchases	$ (19,828)	$ (4,441)	(15,387)
Balance at end of period (shares) at Jan. 31, 2024	15,812,027	15,812,027
Balance at end of period at Jan. 31, 2024	$ 896,910	$ 360,354	$ 529,063	$ 7,493

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
OPERATING ACTIVITIES
Net income	$ 89,418	$ 63,582
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	66,185	70,828
Net loss on disposal of property, plant and equipment	1,423	879
Reduction in the carrying amount of operating lease right-of-use assets	22,670	19,919
Amortization of debt issuance costs	633	647
Unrealized gain on foreign exchange forward contracts	241	904
Stock-based compensation expense	7,186	5,249
Deferred income taxes	(8,545)	(11,899)
Pension settlement, net	0	48
Contributions of employer stock to employee benefit plan	3,676	838
Other non-cash items	320	3,677
Changes in operating assets and liabilities:
Customer receivables	6,329	36,823
Income taxes	(8,479)	(798)
Inventories	25,982	362
Prepaid expenses and other assets	(925)	(8,269)
Accounts payable	(5,218)	(53,477)
Accrued compensation and related expenses	12,101	7,130
Operating lease liabilities	(21,880)	(20,073)
Marketing and other accrued expenses	(3,202)	(3,759)
Net cash provided by operating activities	187,433	110,803
INVESTING ACTIVITIES
Payments to acquire property, plant and equipment	(54,930)	(17,134)
Proceeds from sales of property, plant and equipment	23	23
Investment in promotional displays	(806)	(2,149)
Net cash used by investing activities	(55,713)	(19,260)
FINANCING ACTIVITIES
Payments of long-term debt	(1,986)	(67,278)
Repurchase of common stock	71,761	0
Withholding of employee taxes related to stock-based compensation	(1,876)	(773)
Net cash used by financing activities	(75,623)	(68,051)
Net increase in cash and cash equivalents	56,097	23,492
Cash and cash equivalents, beginning of period	41,732	22,325
Cash and cash equivalents, end of period	97,829	45,817
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable at period end	6,208	1,025
Cash paid during the period for:
Interest	11,168	13,208
Income taxes	$ 44,932	$ 34,998

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine-month period ended January 31, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2024 ("fiscal 2024"). The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2023 ("fiscal 2023") filed with the U.S. Securities and Exchange Commission ("SEC"). Goodwill and Intangible Assets: Goodwill represents the excess of purchase price over the net amount of identifiable assets acquired and liabilities assumed in a business combination measured at fair value. The Company does not amortize goodwill but evaluates for impairment annually, or whenever events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company will perform the annual assessment on the first day of the fourth quarter unless an indicator of impairment exists prior to the annual date and the Company determines it is more likely than not that the fair value of the goodwill is below its book value. In accordance with accounting standards, when evaluating goodwill, an entity has the option first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that goodwill is impaired. If after such assessment an entity concludes that it is more likely than not that the asset is not impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the asset using a quantitative impairment test, and if impaired, the associated assets must be written down by the amount that the carrying value exceeds the fair value of the reporting unit. There were no impairment charges related to goodwill for the three- and nine-month periods ended January 31, 2024 and 2023. Intangible assets consist of customer relationship intangibles. The Company amortizes the cost of intangible assets over their estimated useful lives, six years, unless such lives are deemed indefinite. The Company reviews its intangible assets for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. There were no impairment charges related to intangible assets for the three- and nine-month periods ended January 31, 2024 and 2023. Derivative Financial Instruments: The Company uses derivatives as part of the normal business operations to manage its exposure to fluctuations in interest rates associated with variable interest rate debt and foreign exchange rates. The Company has established policies and procedures that govern the risk management of these exposures. The primary objective in managing these exposures is to add stability to interest expense, manage the Company's exposure to interest rate movements, and manage the risk from adverse fluctuations in foreign exchange rates. The Company uses interest rate swap contracts to manage interest rate exposures. The Company records derivatives in the condensed consolidated balance sheets at fair value. Changes in the fair value of derivatives designated as cash flow hedges are recorded in accumulated other comprehensive income (loss), and subsequently reclassified into earnings in the period the hedged forecasted transaction affects earnings. If a derivative is deemed to be ineffective, the change in fair value of the derivative is recognized directly in earnings. The Company also manages risks through the use of foreign exchange forward contracts. The Company recognizes its outstanding forward contracts in the condensed consolidated balance sheets at their fair values. The Company does not designate the forward contracts as accounting hedges. The changes in the fair value of the forward contracts are recorded in other expense (income), net in the condensed consolidated statements of income. Reclassifications : Certain reclassifications have been made to prior period balances to conform to the current year presentation.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
New Accounting Pronouncements	Jan. 31, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09 “Improvements to Income Tax Disclosures.” The amendments in this ASU are intended to increase transparency through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the disclosure impacts of ASU 2023-09 on its condensed consolidated financial statements and related disclosures.

Net Earnings Per Share

Net Earnings Per Share	9 Months Ended
Net Earnings Per Share	Jan. 31, 2024
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Nine Months Ended January 31, January 31, (in thousands, except per share amounts) 2024 2023 2024 2023 Numerator used in basic and diluted net earnings per common share: Net income $ 21,227 $ 14,728 $ 89,418 $ 63,582 Denominator: Denominator for basic net earnings per common share - weighted-average shares 15,992 16,622 16,268 16,607 Effect of dilutive securities: Stock options and restricted stock units 132 74 113 54 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 16,124 16,696 16,381 16,661 Net earnings per share Basic $ 1.33 $ 0.89 $ 5.50 $ 3.83 Diluted $ 1.32 $ 0.88 $ 5.46 $ 3.82 There were no potentially dilutive securities for the three-month periods ended January 31, 2024 and 2023, respectively, and the nine-month period ended January 31, 2023, which were excluded from the calculation of net earnings per diluted share. Potentially dilutive securities of 40,170 for the nine-month period ended January 31, 2024 were excluded from the calculation of net earnings per diluted share as the effect would be anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Jan. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has various stock-based compensation plans. During the nine-months ended January 31, 2024, the Board of Directors of the Company approved grants of service-based restricted stock units ("RSUs") to non-employee directors. These service-based RSUs (i) vest daily through the end of the one-year vesting period as long as the recipient continuously remains a member of the Board and (ii) entitle the recipient to receive one share of the Company's common stock per unit vested. The Board of Directors also approved grants of service-based RSUs, performance-based RSUs and non-statutory stock options to key employees. The performance-based RSUs entitle the recipients to receive one share of the Company's common stock per unit granted if applicable performance conditions are met and the recipient remains continuously employed with the Company until the units cliff vest at the end of the three year vesting period. The service-based RSUs to key employees entitle the recipients to receive one share of the Company's common stock per unit granted if they remain continuously employed with the Company until the units vest. The employee stock options cliff vest at the end of a three-year period and have a ten-year contractual term. Prior to June 2023, all of the Company's RSUs granted to employees cliff-vest three years from the grant date. Beginning in June 2023, service-based RSUs granted to employees vest one-third on each of the first, second and third anniversaries of the grant date. The fair value of the Company's RSU awards is expensed on a straight-line basis over the vesting period of the RSUs to the extent the Company believes it is probable the related performance criteria, if any, will be met. The following table summarizes the Company's stock-based compensations grants for the nine-months ended January 31, 2024: (in thousands, except per share amounts) Stock Awards Granted Service-based RSUs 79,778 Performance-based RSUs 155,062 Non-statutory stock options 92,340 For the three- and nine-month periods ended January 31, 2024 and 2023, stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2024 2023 2024 2023 Cost of sales and distribution $ 582 $ 547 $ 1,633 $ 1,483 Selling and marketing expenses 585 376 1,669 1,446 General and administrative expenses 1,617 937 3,884 2,320 Stock-based compensation expense $ 2,784 $ 1,860 $ 7,186 $ 5,249 During the nine months ended January 31, 2024, the Company also approved grants of 12,199 cash-settled performance-based restricted stock tracking units ("RSTUs") and 6,571 cash-settled service-based RSTUs for more junior level employees. Each performance-based RSTU entitles the recipient to receive a payment in cash equal to the fair market value of one share of the Company's common stock as of the payment date if applicable performance conditions are met and the recipient remains continuously employed with the Company until the units vest. The service-based RSTUs entitle the recipients to receive a payment in cash equal to the fair market value of one share of the Company's common stock as of the payment date if they remain continuously employed with the Company until the units vest. Prior to June 2023, all of the Company's RSTUs granted to employees cliff-vest three years from the grant date. Beginning in June 2023, service-based RSTUs granted to employees vest one-third on each of the first, second and third anniversaries of the grant date. The fair value of each cash-settled RSTU award is remeasured at the end of each reporting period and the liability is adjusted, and related expense recorded, based on the new fair value. The expense recognized for the three- and nine-month periods ended January 31, 2024 and 2023, and the liability as of January 31, 2024 and April 30, 2023, related to RSTUs is not significant.

Customer Receivables

Customer Receivables	9 Months Ended
Customer Receivables	Jan. 31, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Customer Receivables	Customer Receivables The components of customer receivables were: January 31, April 30, (in thousands) 2024 2023 Gross customer receivables $ 123,126 $ 130,655 Less: Allowance for credit losses (545) (449) Allowance for returns and discounts (9,508) (11,043) Net customer receivables $ 113,073 $ 119,163

Inventories

Inventories	9 Months Ended
Inventories	Jan. 31, 2024
Inventory, Net [Abstract]
Inventories	Inventories The components of inventories were: January 31, April 30, (in thousands) 2024 2023 Raw materials $ 65,185 $ 80,953 Work-in-process 45,725 49,064 Finished goods 52,472 60,682 Total inventories $ 163,382 $ 190,699

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
Property, Plant and Equipment	Jan. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of property, plant and equipment were: January 31, April 30, (in thousands) 2024 2023 Land $ 4,475 $ 4,475 Buildings and improvements 126,128 121,903 Buildings and improvements - finance leases 11,164 11,164 Machinery and equipment 351,059 331,146 Machinery and equipment - finance leases 31,149 29,869 Software 34,096 29,322 Construction in progress 70,066 45,710 Total property, plant and equipment 628,137 573,589 Less accumulated amortization and depreciation (375,969) (354,174) Property, plant and equipment, net $ 252,168 $ 219,415 Amortization and depreciation expense on property, plant and equipment amounted to $10.6 million and $9.3 million for the three-months ended January 31, 2024 and 2023, respectively and $30.0 million and $28.7 million for the nine-months ended January 31, 2024 and 2023, respectively. Accumulated amortization on finance leases included in the above table amounted to $31.6 million and $31.9 million as of January 31, 2024 and April 30, 2023, respectively.

Intangibles

Intangibles	9 Months Ended
Intangibles	Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The components of customer relationship intangibles were: January 31, April 30, (in thousands) 2024 2023 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (274,000) (243,556) Total $ — $ 30,444 Customer relationship intangibles are amortized over the estimated useful lives on a straight-line basis over six years. Amortization expense for the three-month periods ended January 31, 2024 and 2023 was $7.6 million and $11.4 million, respectively and $30.4 million and $34.2 million, respectively, for each of the nine-month periods ended January 31, 2024 and 2023.

Product Warranty

Product Warranty	9 Months Ended
Product Warranty	Jan. 31, 2024
Product Warranties Disclosures [Abstract]
Product Warranty	Product Warranty The Company estimates outstanding warranty costs based on the historical relationship between warranty claims and revenues. The warranty accrual is reviewed monthly to verify that it properly reflects the remaining obligation based on the anticipated expenditures over the balance of the obligation period. Adjustments are made when actual warranty claim experience differs from estimates. Warranty claims are generally made within two months of the original shipment date. The following is a reconciliation of the Company's warranty liability, which is included in other accrued expenses on the unaudited condensed consolidated balance sheets: Nine Months Ended January 31, (in thousands) 2024 2023 Beginning balance at May 1 $ 8,014 $ 6,878 Accrual 14,934 26,566 Settlements (17,175) (25,777) Ending balance at January 31 $ 5,773 $ 7,667

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Jan. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company utilizes the hierarchy of fair value measurements to classify certain of its assets and liabilities based upon the following definitions: Level 1- Investments with quoted prices in active markets for identical assets or liabilities. The Company's cash equivalents are invested in money market funds, mutual funds, and certificates of deposit. The Company's mutual fund investment assets represent contributions made and invested on behalf of the Company's former executive officers in a supplementary employee retirement plan. Level 2- Investments with observable inputs other than Level 1 prices, such as: quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3- Investments with unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company has no Level 3 assets or liabilities measured on a recurring basis. The Company's financial instruments include cash and equivalents, marketable securities, and other investments; accounts receivable and accounts payable; interest rate swap and foreign exchange forward contracts; and short- and long-term debt. The carrying values of cash and equivalents, accounts receivable and payable, and short-term debt on the condensed consolidated balance sheets approximate their fair value due to the short maturities of these items. The interest rate swap and foreign exchange forward contracts were marked to market and therefore represent fair value. The fair values of these contracts are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. The following table summarizes the fair value of assets that are recorded in the Company's consolidated financial statements as of January 31, 2024 and April 30, 2023 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2024 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 176 $ — $ — Interest rate swap contracts — 10,044 — Foreign exchange forward contracts — 241 — Total assets at fair value $ 176 $ 10,285 $ — As of April 30, 2023 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 191 $ — $ — Interest rate swap contracts — 13,885 — Total assets at fair value $ 191 $ 13,885 $ —

Loans Payable and Long-Term Deb

Loans Payable and Long-Term Debt	9 Months Ended
Loans Payable and Long-Term Debt	Jan. 31, 2024
Debt Disclosure [Abstract]
Loans Payable and Long-Term Debt	Loans Payable and Long-Term Debt On April 22, 2021, the Company amended and restated its prior credit agreement and on January 17, 2023 the Company entered into an amendment of such agreement to transition the applicable interest rate from LIBOR to Secured Overnight Financing Rate ("SOFR"), effective January 31, 2023. The amended and restated credit agreement (the "A&R Credit Agreement") provides for a $500 million revolving loan facility with a $50 million sub-facility for the issuance of letters of credit (the "Revolving Facility") and a $250 million term loan facility (the "Term Loan Facility"). Also on April 22, 2021, the Company borrowed the entire $250 million under the Term Loan Facility and approximately $264 million under the Revolving Facility to fund, in part, the repayment in full of the amounts then outstanding under its prior credit agreement and the redemption of $350 million in aggregate principal amount of 4.875% Senior Notes due 2026. The Company is required to repay the Term Loan Facility in specified quarterly installments, which have been prepaid through April 30, 2025. The Revolving Facility and Term Loan Facility mature on April 22, 2026. As of January 31, 2024 and April 30, 2023, $206.3 million and $206.3 million, respectively, was outstanding on the Term Loan Facility. As of January 31, 2024 and April 30, 2023, $163.8 million and $163.8 million, respectively, was outstanding under the Revolving Facility. Outstanding letters of credit under the Revolving Facility were $13.3 million as of January 31, 2024, leaving approximately $322.9 million in available capacity under the Revolving Facility as of January 31, 2024. The outstanding balances noted above approximate fair value as the facilities have a floating interest rate. Amounts outstanding under the Term Loan Facility and the Revolving Facility bear interest based on a fluctuating rate measured by reference to either, at the Company's option, a base rate plus an applicable margin or SOFR plus 10 basis points plus an applicable margin, with the applicable margin being determined by reference to the Company's then-current "Secured Net Leverage Ratio." The Company also incurs a quarterly commitment fee on the average daily unused portion of the Revolving Facility during the applicable quarter at a rate per annum also determined by reference to the Company's then-current "Secured Net Leverage Ratio." In addition, a letter of credit fee accrues on the face amount of any outstanding letters of credit at a per annum rate equal to the applicable margin on SOFR loans, payable quarterly in arrears. As of January 31, 2024, the applicable margin with respect to base rate loans and SOFR loans was 0.0% and 1.0%, respectively, and the commitment fee was 0.1%. The A&R Credit Agreement includes certain financial covenants that require the Company to maintain (i) a "Consolidated Interest Coverage Ratio" of no less than 2.00 to 1.00 and (ii) a "Total Net Leverage Ratio" of no greater than 4.00 to 1.00, subject, in each case, to certain limited exceptions. The A&R Credit Agreement includes certain additional covenants, including negative covenants that restrict the ability of the Company and certain of its subsidiaries to incur additional indebtedness, create additional liens on its assets, make certain investments, dispose of its assets, or engage in a merger or other similar transaction, or engage in transactions with affiliates, subject, in each case, to the various exceptions and conditions described in the A&R Credit Agreement. The negative covenants further restrict the ability of the Company and certain of its subsidiaries to make certain restricted payments, including, in the case of the Company, the payment of dividends and the repurchase of common stock, in certain limited circumstances. As of January 31, 2024, the Company was in compliance with all covenants included in the A&R Credit Agreement. The Company's obligations under the A&R Credit Agreement are guaranteed by the Company's domestic subsidiaries, and the obligations of the Company and its domestic subsidiaries under the A&R Credit Agreement and their guarantees, respectively, are secured by a pledge of substantially all of their respective personal property.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
Derivative Financial Instruments	Jan. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Interest Rate Swap Contracts The Company enters into interest rate swap contracts to manage variability in the amount of known or expected cash payments related to portions of its variable rate debt. On May 28, 2021, the Company entered into four interest rate swaps with an aggregate notional amount of $200 million to hedge part of the variable rate interest payments under the Term Loan Facility. The interest rate swaps became effective on May 28, 2021 and will terminate on May 30, 2025. The interest rate swaps economically convert a portion of the variable rate debt to fixed rate debt. The Company receives floating interest payments monthly based on one-month SOFR and pays a fixed rate of 0.53% to the counterparty. The interest rate swaps are designated as cash flow hedges. Changes in fair value are recorded to other comprehensive income. The risk management objective in using interest rate swaps is to add stability to interest expense and to manage the Company's exposure to interest rate movements. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the contract agreements without exchange of the underlying notional amount. Realized gains or losses in connection with required interest payments on interest rate swaps are recorded in earnings, as a component of interest expense, net to offset variability in interest expense associated with the underlying debt's cash flows. For the three- and nine-month periods ended January 31, 2024, unrealized gains (losses), net of deferred taxes, of ($0.8) million and $2.7 million, respectively, were recorded in other comprehensive income, and $2.0 million and $5.6 million, respectively, of realized gains, net of deferred taxes, were reclassified out of accumulated other comprehensive income (loss) to interest expense, net due to interest received from and payments made to the swap counterparties. For the three- and nine-month periods ended January 31, 2023, unrealized gains (losses), net of deferred taxes, of ($1.3) million and $3.7 million, respectively, were recorded in other comprehensive income, and $1.3 million and $2.3 million, respectively, of realized gains, net of deferred taxes, were reclassified out of accumulated other comprehensive income (loss) to interest expense, net due to interest received from and payments made to the swap counterparties. As of January 31, 2024, the Company anticipates reclassifying approximately $8.1 million of net hedging gains from accumulated other comprehensive income into earnings during the next 12 months to offset the variability of the hedged items during this period. The fair value of the derivative instruments are included in other assets on the condensed consolidated balance sheets. Foreign Exchange Forward Contracts At January 31, 2024, the Company held forward contracts maturing from February 2024 to April 2024 to purchase 117.0 million Mexican pesos at an exchange rate of 18.91 Mexican pesos to one U.S. dollar. Additionally, the Company entered into a contingent forward contract with maturities from May 2024 to April 2025 to purchase 660.0 million Mexican pesos at an exchange rate of 18.91 Mexican pesos to one U.S. dollar. This contingent forward contract gives the bank the option to cancel these forward contracts in April 2024. Additionally, the Company entered into a target accrual redemption forward agreement to purchase Mexican Pesos across 48 defined fixings. These fixings allow for U.S. dollars to be converted into Pesos at a rate of 18.60 Pesos to one U.S. Dollar. Cumulative profit is capped at an aggregate of approximately $0.6 million over the shorter of the life of the contract fixings or the utilization of the cap. An asset of $0.2 million is recorded in prepaid expenses and other on the condensed consolidated balance sheet.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rates for the three- and nine-month periods ended January 31, 2024 was 25.4% and 23.8%, respectively, compared with 25.0% and 25.1% in the comparable period in the prior fiscal year. The effective rates were higher than the 21.0% U.S. statutory rate for all periods presented primarily due to state income taxes.

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Jan. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company disaggregates revenue from contracts with customers into major sales distribution channels as these categories depict the nature, amount, timing, and uncertainty of revenues and cash flows that are affected by economic factors. The following table disaggregates our consolidated revenue by major sales distribution channels for the three- and nine-months ended January 31, 2024 and 2023: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2024 2023 2024 2023 Home center retailers $ 174,270 $ 202,881 $ 578,602 $ 681,631 Builders 181,747 204,170 592,705 654,861 Independent dealers and distributors 66,085 73,662 222,917 248,613 Net Sales $ 422,102 $ 480,713 $ 1,394,224 $ 1,585,105

Concentration of Risk

Concentration of Risk	9 Months Ended
Concentration of Risk	Jan. 31, 2024
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risks Financial instruments that potentially subject the Company to concentrations of risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with major financial institutions and such balances may, at times, exceed Federal Deposit Insurance Corporation insurance limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk with respect to cash . Credit is extended to customers based on an evaluation of each customer's financial condition and generally collateral is not required. The Company's customers operate in the new home construction and home remodeling markets. The Company maintains an allowance for expected credit losses based upon management's evaluation and judgment of potential net loss. The allowance is estimated based upon historical experience, the effects of current developments and economic conditions, and each customer's current and anticipated financial condition. Estimates and assumptions are periodically reviewed and updated. Any resulting adjustments to the allowance are reflected in current operating results. As of January 31, 2024, the Company's two largest customers, Customers A and B, represented 33.5% and 18.6% of the Company's gross customer receivables, respectively. As of January 31, 2023, Customers A and B represented 39.9% and 16.4% of the Company's gross customer receivables, respectively. The following table summarizes the percentage of net sales attributable to the Company's two largest customers for the three- and nine-months ended January 31, 2024 and 2023: Three Months Ended Nine Months Ended January 31, January 31, 2024 2023 2024 2023 Customer A 29.1% 29.5% 28.4% 29.5% Customer B 12.2% 12.8% 13.1% 13.5%

Other Information

Other Information	9 Months Ended
Other Information	Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Other Information	Other Information The Company is involved in suits and claims in the normal course of business, including without limitation product liability and general liability claims, and claims pending before the Equal Employment Opportunity Commission. On at least a quarterly basis, the Company consults with its legal counsel to ascertain the reasonable likelihood that such claims may result in a loss. As required by FASB Accounting Standards Codification Topic 450, "Contingencies," the Company categorizes the various suits and claims into three categories according to their likelihood for resulting in potential loss: those that are probable, those that are reasonably possible, and those that are deemed to be remote. Where losses are deemed to be probable and estimable, accruals are made. Where losses are deemed to be reasonably possible, a range of loss estimates is determined and considered for disclosure. In determining these loss range estimates, the Company considers known values of similar claims and consults with outside counsel. Except as described below, the Company believes that the aggregate range of loss stemming from the various suits and asserted and unasserted claims that were deemed to be either probable or reasonably possible was not material as of January 31, 2024. Antidumping and Countervailing Duties Investigation In February 2020, a conglomeration of domestic manufacturers filed a scope and circumvention petition seeking the imposition of antidumping (“AD”) and countervailing duties (“CVD”) with the United States Department of Commerce (“DOC”) and the United States International Trade Commission (“ITC”) against imports of hardwood plywood assembled in Vietnam using cores sourced from China. In July 2022, the DOC issued a Preliminary Scope Determination and Affirmative Preliminary Determination of Circumvention of the Antidumping and Countervailing Duty Orders (“Preliminary Determination”). In July 2023, the DOC issued a Final Determination of Circumvention of the Antidumping and Countervailing Duty Orders (“Final Determination”). Included in the Final Determination is a list of Vietnamese suppliers not eligible for certification. AD and CVD cash deposits of 206% are required for imports from the Vietnamese suppliers not eligible for certification. Many of the Vietnamese suppliers appealed their inclusion on the ineligible for certification list in the Preliminary Determination. Because two of the Company’s primary Vietnamese plywood vendors remained on the ineligible for certification list in the Final Determination, the Company recorded a loss on unliquidated customs entries as of Final Determination in July 2023. The loss recorded in the first quarter of fiscal 2024 was $4.9 million, or $3.7 million net of tax. Through the third fiscal quarter of 2024, the Company has remitted deposits of $3.8 million pursuant to the Preliminary Determination. Based on the evidence provided from the Vietnamese suppliers, the specific characteristics of the product imported and other relevant matters, the Company intends to vigorously appeal the Final Determination that it is subject to these duties and disputes the findings of the Final Determination with regards to the Company. Our last order was placed with these vendors in June 2022.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Jan. 31, 2023	Oct. 31, 2022	Jul. 31, 2022	Jan. 31, 2024	Jan. 31, 2023
Pay vs Performance Disclosure
Net income	$ 21,227	$ 30,341	$ 37,850	$ 14,728	$ 28,784	$ 20,070	$ 89,418	$ 63,582

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jan. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	9 Months Ended
Net Earnings Per Share (Tables)	Jan. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net earnings per share: Three Months Ended Nine Months Ended January 31, January 31, (in thousands, except per share amounts) 2024 2023 2024 2023 Numerator used in basic and diluted net earnings per common share: Net income $ 21,227 $ 14,728 $ 89,418 $ 63,582 Denominator: Denominator for basic net earnings per common share - weighted-average shares 15,992 16,622 16,268 16,607 Effect of dilutive securities: Stock options and restricted stock units 132 74 113 54 Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 16,124 16,696 16,381 16,661 Net earnings per share Basic $ 1.33 $ 0.89 $ 5.50 $ 3.83 Diluted $ 1.32 $ 0.88 $ 5.46 $ 3.82

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Jan. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock Awards Granted	The following table summarizes the Company's stock-based compensations grants for the nine-months ended January 31, 2024: (in thousands, except per share amounts) Stock Awards Granted Service-based RSUs 79,778 Performance-based RSUs 155,062 Non-statutory stock options 92,340
Stock-Based Compensation Expense Allocated	For the three- and nine-month periods ended January 31, 2024 and 2023, stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2024 2023 2024 2023 Cost of sales and distribution $ 582 $ 547 $ 1,633 $ 1,483 Selling and marketing expenses 585 376 1,669 1,446 General and administrative expenses 1,617 937 3,884 2,320 Stock-based compensation expense $ 2,784 $ 1,860 $ 7,186 $ 5,249

Customer Receivables (Tables)

Customer Receivables (Tables)	9 Months Ended
Customer Receivables (Tables)	Jan. 31, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Components of Customer Receivables	The components of customer receivables were: January 31, April 30, (in thousands) 2024 2023 Gross customer receivables $ 123,126 $ 130,655 Less: Allowance for credit losses (545) (449) Allowance for returns and discounts (9,508) (11,043) Net customer receivables $ 113,073 $ 119,163

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Jan. 31, 2024
Inventory, Net [Abstract]
Components of Inventories	The components of inventories were: January 31, April 30, (in thousands) 2024 2023 Raw materials $ 65,185 $ 80,953 Work-in-process 45,725 49,064 Finished goods 52,472 60,682 Total inventories $ 163,382 $ 190,699

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
Property, Plant and Equipment (Tables)	Jan. 31, 2024
Property, Plant and Equipment [Abstract]
Components Of Property, Plant And Equipment	The components of property, plant and equipment were: January 31, April 30, (in thousands) 2024 2023 Land $ 4,475 $ 4,475 Buildings and improvements 126,128 121,903 Buildings and improvements - finance leases 11,164 11,164 Machinery and equipment 351,059 331,146 Machinery and equipment - finance leases 31,149 29,869 Software 34,096 29,322 Construction in progress 70,066 45,710 Total property, plant and equipment 628,137 573,589 Less accumulated amortization and depreciation (375,969) (354,174) Property, plant and equipment, net $ 252,168 $ 219,415

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
Intangibles (Tables)	Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The components of customer relationship intangibles were: January 31, April 30, (in thousands) 2024 2023 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (274,000) (243,556) Total $ — $ 30,444

Product Warranty (Tables)

Product Warranty (Tables)	9 Months Ended
Product Warranty (Tables)	Jan. 31, 2023
Product Warranties Disclosures [Abstract]
Schedule of Warranty Liability	The following is a reconciliation of the Company's warranty liability, which is included in other accrued expenses on the unaudited condensed consolidated balance sheets: Nine Months Ended January 31, (in thousands) 2024 2023 Beginning balance at May 1 $ 8,014 $ 6,878 Accrual 14,934 26,566 Settlements (17,175) (25,777) Ending balance at January 31 $ 5,773 $ 7,667

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Jan. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Assets on Recurring Basis	The following table summarizes the fair value of assets that are recorded in the Company's consolidated financial statements as of January 31, 2024 and April 30, 2023 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2024 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 176 $ — $ — Interest rate swap contracts — 10,044 — Foreign exchange forward contracts — 241 — Total assets at fair value $ 176 $ 10,285 $ — As of April 30, 2023 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 191 $ — $ — Interest rate swap contracts — 13,885 — Total assets at fair value $ 191 $ 13,885 $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
Revenue Recognition (Tables)	Jan. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our consolidated revenue by major sales distribution channels for the three- and nine-months ended January 31, 2024 and 2023: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2024 2023 2024 2023 Home center retailers $ 174,270 $ 202,881 $ 578,602 $ 681,631 Builders 181,747 204,170 592,705 654,861 Independent dealers and distributors 66,085 73,662 222,917 248,613 Net Sales $ 422,102 $ 480,713 $ 1,394,224 $ 1,585,105

Concentration of Risk (Tables)

Concentration of Risk (Tables)	9 Months Ended
Concentration of Risk (Tables)	Jan. 31, 2024
Risks and Uncertainties [Abstract]
Summary Of Percentage Of Sales	The following table summarizes the percentage of net sales attributable to the Company's two largest customers for the three- and nine-months ended January 31, 2024 and 2023: Three Months Ended Nine Months Ended January 31, January 31, 2024 2023 2024 2023 Customer A 29.1% 29.5% 28.4% 29.5% Customer B 12.2% 12.8% 13.1% 13.5%

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Basis of Presentation - Narrative (Details) - USD ($)	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to goodwill	$ 0	$ 0	$ 0	$ 0
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to other intangible assets	$ 0	$ 0	$ 0	$ 0
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	6 years		6 years

Net Earnings Per Share (Schedul

Net Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Jan. 31, 2023	Oct. 31, 2022	Jul. 31, 2022	Jan. 31, 2024	Jan. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 21,227	$ 30,341	$ 37,850	$ 14,728	$ 28,784	$ 20,070	$ 89,418	$ 63,582
Denominator for basic net earnings per common share - weighted-average shares	15,991,520			16,621,827			16,267,999	16,606,700
Effect of dilutive securities:
Stock options and restricted stock units	132,000			74,000			113,000	54,000
Diluted (in shares)	16,124,198			16,695,714			16,380,756	16,661,234
Earnings Per Share, Basic [Abstract]
Basic (in usd per share)	$ 1.33			$ 0.89			$ 5.50	$ 3.83
Earnings Per Share, Diluted [Abstract]
Diluted (in usd per share)	$ 1.32			$ 0.88			$ 5.46	$ 3.82
Stock excluded from the calculation of net earnings per share (shares)	0			0			40,170	0
Document Period End Date							Jan. 31, 2024

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	9 Months Ended
Stock-Based Compensation (Narrative) (Details)	Jan. 31, 2024 shares
Service-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	1 year
Common stock issuable per RSU granted (shares)	1
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Common stock issuable per RSU granted (shares)	1
RSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Contractual term (in years)	10 years
Employee Performance-Based RSTUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (shares)	12,199
Employee Service-Based RSTUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (shares)	6,571
RSTUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Share-Based Payment Arrangement, Tranche One \| RSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	1 year
Vesting rights, percentage	33.33%
Share-Based Payment Arrangement, Tranche One \| Employee Service-Based RSTUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	1 year
Vesting rights, percentage	33.33%
Share-Based Payment Arrangement, Tranche Two \| RSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	2 years
Vesting rights, percentage	33.33%
Share-Based Payment Arrangement, Tranche Two \| Employee Service-Based RSTUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	2 years
Share-Based Payment Arrangement, Tranche Three \| RSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Vesting rights, percentage	33.33%
Share-Based Payment Arrangement, Tranche Three \| Employee Service-Based RSTUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Awards Granted (Details)	9 Months Ended
Stock-Based Compensation - Stock Awards Granted (Details)	Jan. 31, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-statutory stock options, Stock Awards Granted (in shares)	92,340
Service-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Stock Awards Granted (in shares)	79,778
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Stock Awards Granted (in shares)	155,062

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock-Based Compensation Expense Allocated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,784	$ 1,860	$ 7,186	$ 5,249
Cost of sales and distribution
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	582	547	1,633	1,483
Selling and marketing expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	585	376	1,669	1,446
General and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,617	$ 937	$ 3,884	$ 2,320

Customer Receivables (Component

Customer Receivables (Components Of Customer Receivables ) (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Gross customer receivables	$ 123,126	$ 130,655
Less:
Allowance for credit losses	(545)	(449)
Allowance for returns and discounts	(9,508)	(11,043)
Net customer receivables	$ 113,073	$ 119,163

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Inventory, Net [Abstract]
Raw materials	$ 65,185	$ 80,953
Work-in-process	45,725	49,064
Finished goods	52,472	60,682
Inventories	$ 163,382	$ 190,699

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023	Apr. 30, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 628,137		$ 628,137		$ 573,589
Less accumulated amortization and depreciation	(375,969)		(375,969)		(354,174)
Property, Plant and Equipment, Net, Total	252,168		252,168		219,415
Amortization and depreciation expense on property, plant and equipment	10,600	$ 9,300	30,000	$ 28,700
Finance lease, right-of-use asset, accumulated amortization	31,600		31,600		31,900
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,475		4,475		4,475
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	126,128		126,128		121,903
Buildings and improvements - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,164		11,164		11,164
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	351,059		351,059		331,146
Machinery and equipment - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	31,149		31,149		29,869
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	34,096		34,096		29,322
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 70,066		$ 70,066		$ 45,710

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - Customer relationships - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	$ 274,000	$ 274,000
Less accumulated amortization	(274,000)	(243,556)
Intangibles, net	$ 0	$ 30,444

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Intangibles (Narrative) (Details) - USD ($) $ in Millions	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 7.6	$ 11.4	$ 30.4	$ 34.2
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	6 years		6 years

Product Warranty (Schedule Of W

Product Warranty (Schedule Of Warranty Liability) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Product Warranties Disclosures [Abstract]
Warranty claims period	2 months
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 8,014	$ 6,878
Accrual	14,934	26,566
Settlements	(17,175)	(25,777)
Ending balance	$ 5,773	$ 7,667

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Assets On Recurring Basis) (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	$ 0	$ 0
Total assets at fair value	176	191
Level 1 \| Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	10,044	13,885
Total assets at fair value	10,285	13,885
Level 2 \| Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts	(241)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap contracts	0	0
Total assets at fair value	0	0
Level 3 \| Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts	0
Mutual funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	176	191
Mutual funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	0	0
Mutual funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	$ 0	$ 0

Loans Payable and Long-Term D_2

Loans Payable and Long-Term Debt (Details) - USD ($)		9 Months Ended
Loans Payable and Long-Term Debt (Details) - USD ($)	Apr. 22, 2021	Jan. 31, 2024	Apr. 30, 2023
Loans Payable [Member] \| Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	$ 250,000,000
Proceeds from loan	$ 250,000,000
Outstanding on the Initial Term Loan		$ 206,300,000	$ 206,300,000
Senior Notes [Member] \| 4.875% Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.875%
Revolving loan facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 500,000,000
Proceeds from loan	264,000,000
Outstanding on the Revolving Facility		163,800,000	$ 163,800,000
Line of Credit Facility, Remaining Borrowing Capacity		$ 322,900,000
Credit facility, commitment fee percentage		0.10%
Consolidated Interest Coverage Ratio		2
Total Net Leverage Ratio		4
Revolving loan facility [Member] \| 4.875% Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Repayments of Debt	350,000,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Outstanding on the Revolving Facility		$ 13,300,000
Line of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 50,000,000
Base Rate [Member] \| Revolving loan facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate at Period End		0%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Revolving loan facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.10%
Line of Credit Facility, Interest Rate at Period End		1%

Derivative Financial Instrume_2

Derivative Financial Instruments (Details)	3 Months Ended		9 Months Ended
Derivative Financial Instruments (Details)	Jan. 31, 2024 USD ($) defined_fixing_instrument	Jan. 31, 2023 USD ($)	Jan. 31, 2024 USD ($) defined_fixing_instrument	Jan. 31, 2023 USD ($)	May 28, 2021 USD ($) instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Change in Cash flow hedges (swap), net of deferred taxes (benefit) of $(956) and $(890), and $(980) and $461 for the three- and nine-months ended January 31, 2024 and 2023, respectively	$ (2,807,000)	$ (2,627,000)	$ (2,879,000)	$ 1,360,000
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			8,100,000
Gain (Loss) on Derivative Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	2,000,000	1,300,000	5,600,000	2,300,000
Other Comprehensive Income (Loss) \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Change in Cash flow hedges (swap), net of deferred taxes (benefit) of $(956) and $(890), and $(980) and $461 for the three- and nine-months ended January 31, 2024 and 2023, respectively	800,000	$ 1,300,000	2,700,000	$ 3,700,000
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Fixed Interest Rate					0.53%
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Number of Instruments Held \| instrument					4
Derivative, notional amount					$ 200,000,000
Foreign Exchange Forward \| Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 117,000,000		$ 117,000,000
Derivative, forward exchange rate	18.91		18.91
Foreign Exchange Forward \| Not Designated as Hedging Instrument \| Prepaid Expenses and Other Current Assets [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign exchange forward contracts	$ 200,000		$ 200,000
Foreign Exchange Option \| Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 660,000,000		$ 660,000,000
Derivative, forward exchange rate	18.91		18.91
Foreign Exchange Future \| Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, forward exchange rate	18.60		18.60
Number of defined fixings \| defined_fixing_instrument	48		48
Cumulative profit cap			$ 600,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
Income Taxes (Narrative) (Details)	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	25.40%	25%	23.80%	25.10%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 422,102	$ 480,713	$ 1,394,224	$ 1,585,105
Home center retailers
Disaggregation of Revenue [Line Items]
Net sales	174,270	202,881	578,602	681,631
Builders
Disaggregation of Revenue [Line Items]
Net sales	181,747	204,170	592,705	654,861
Independent dealers and distributors
Disaggregation of Revenue [Line Items]
Net sales	$ 66,085	$ 73,662	$ 222,917	$ 248,613

Concentration of Risk (Details)

Concentration of Risk (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Customer receivables \| Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)			33.50%	39.90%
Customer receivables \| Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)			18.60%	16.40%
Sales revenue, gross \| Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)	29.10%	29.50%	28.40%	29.50%
Sales revenue, gross \| Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)	12.20%	12.80%	13.10%	13.50%

Other Information (Details)

Other Information (Details) $ in Thousands	9 Months Ended
Other Information (Details) $ in Thousands	Jan. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency Accrual	$ 4,900
Loss Contingency Accrual, Net	3,700
Loss Contingency, Deposit Payment	$ 3,800