American Woodmark reported a challenging QQ3 2025 with a 5.8% year-over-year net sales decline to $397.6 million, driven by softer remodeling demand and a material slowdown in new single-family construction. Gross margin contracted meaningfully to 15.0% from 19.2% a year ago, as volume deleverage and higher input costs pressured profitability, while adjusted EBITDA remained solid at $38.4 million (9.7% of net sales). The quarter featured operational efficiency gains and SG&A discipline, but those benefits were insufficient to offset weaker top-line momentum and higher materials/labor costs. Management maintained a cautious full-year view, guiding to a mid-single-digit decline in net sales and EBITDA in the $210–$215 million range, while signaling ongoing responses to macro headwinds (tariffs, inflation, consumer confidence) and structural actions (Orange, VA plant closure, 1951 Cabinetry conversion, ERP Go-Live) to position the business for a healthier longer-term trajectory. Liquidity remains ample, with $43.5 million in cash and access to $314.2 million under the revolving facility, and leverage at 1.53x adjusted EBITDA. The outlook hinges on a recovery in housing activity, stabilization of remodel spend, and the policy environment around tariffs and imports.