American Woodmark (AMWD) 10-Q 28 Feb 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jan. 31, 2023	Feb. 27, 2023
Cover [Abstract]
Entity Central Index Key	0000794619
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2023
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		16,635,295

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jan. 31, 2023	Apr. 30, 2022
Current assets
Cash and cash equivalents	$ 45,817	$ 22,325
Customer receivables, net	117,742	156,961
Inventories	224,763	228,259
Prepaid expenses and other	23,136	21,112
Total current assets	411,458	428,657
Property, plant and equipment, net	203,509	213,808
Operating lease right-of-use assets	98,766	108,055
Intangible Assets, Net (Excluding Goodwill)	41,861	76,111
Goodwill	767,612	767,612
Promotional displays, net	8,126	12,565
Deferred Tax Assets, Net of Valuation Allowance	1,469	1,469
Other assets	31,572	24,219
TOTAL ASSETS	1,564,373	1,632,496
Current liabilities
Accounts payable	58,971	111,422
Current maturities of long-term debt	2,546	2,264
Short-term lease liability - operating	22,515	21,985
Accrued compensation and related expenses	52,074	44,436
Accrued marketing expenses	13,417	15,881
Other accrued expenses	18,597	20,240
Total current liabilities	168,120	216,228
Long-term debt, less current maturities	440,684	506,732
Deferred Income Tax Liabilities, Net	26,901	38,340
Long-term lease liability - operating	83,052	95,084
Other long-term liabilities	2,476	3,229
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, 2023: 16,621,827; at April 30, 2022: 16,570,619	368,539	363,224
Retained earnings	463,016	399,434
Accumulated Other Comprehensive Income (Loss), Net of Tax	11,585	10,225
Total shareholders' equity	843,140	772,883
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,564,373	$ 1,632,496

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2023	Apr. 30, 2022
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	16,621,827	16,570,619
Common stock, shares outstanding	16,621,827	16,570,619

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Income Statement [Abstract]
Net sales	$ 480,713	$ 459,736	$ 1,585,105	$ 1,355,480
Cost of sales and distribution	405,373	407,981	1,324,284	1,198,765
Gross profit	75,340	51,755	260,821	156,715
Selling and marketing expenses	21,364	23,383	71,781	67,755
General and administrative expenses	28,848	23,281	91,129	71,638
Restructuring charges, net	1,310	(127)	1,310	183
Operating income	23,818	5,218	96,601	17,139
Interest expense, net	4,303	2,668	12,778	7,201
Pension settlement, net	293	69,452	48	69,452
Other (income) expense, net	(411)	(335)	(1,082)	533
Income (loss) before income taxes	19,633	(66,567)	84,857	(60,047)
Income tax expense (benefit)	4,905	(17,310)	21,275	(15,801)
Net income (loss)	$ 14,728	$ (49,257)	$ 63,582	$ (44,246)
Weighted Average Shares Outstanding
Basic (in shares)	16,621,827	16,569,881	16,606,700	16,599,369
Diluted (in shares)	16,695,714	16,569,881	16,661,234	16,599,369
Net earnings (loss) per share
Basic (in usd per share)	$ 0.89	$ (2.97)	$ 3.83	$ (2.67)
Diluted (in usd per share)	$ 0.88	$ (2.97)	$ 3.82	$ (2.67)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 14,728	$ (49,257)	$ 63,582	$ (44,246)
Other comprehensive income, net of tax:
Change in pension benefits, net of deferred taxes of $18,230 and $18,481, for the three and nine months ended January 31, 2022, respectively	0	53,822	0	54,568
Change in Cash flow hedges (swap), net of deferred taxes (benefit) of $(890) and $763, and $461 and $1,404 for the three and nine months ended January 31, 2023 and 2022, respectively	(2,627)	2,253	1,360	4,145
Total Comprehensive Income	$ 12,101	$ 6,818	$ 64,942	$ 14,467

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Change In Pension Benefits And Derivative Hedging Activities [Line Items]
Other comprehensive income, deferred tax		$ 18,230		$ 18,481
Cash Flow Hedging
Change In Pension Benefits And Derivative Hedging Activities [Line Items]
Other comprehensive income, deferred tax	$ (890)	$ 763	$ 461	$ 1,404

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, 2021		16,801,101
Balance at beginning of period at Apr. 30, 2021	$ 756,238	$ 362,524	$ 448,282	$ (54,568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,981		2,981
Other comprehensive loss, net of tax	(200)			(200)
Stock-based compensation	1,177	$ 1,177
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		20,243
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(1,033)	$ (1,033)
Stock repurchases (shares)		(299,781)
Stock repurchases		$ (5,874)
Stock repurchases	(25,000)		(19,126)
Employee benefit plan contributions (shares)		39,491
Employee benefit plan contributions	2,938	$ 2,938
Balance at end of period (shares) at Jul. 31, 2021		16,561,054
Balance at end of period at Jul. 31, 2021	737,101	$ 359,732	432,137	(54,768)
Balance at beginning of period (shares) at Apr. 30, 2021		16,801,101
Balance at beginning of period at Apr. 30, 2021	756,238	$ 362,524	448,282	(54,568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(44,246)
Balance at end of period (shares) at Jan. 31, 2022		16,570,619
Balance at end of period at Jan. 31, 2022	750,953	$ 361,898	384,910	4,145
Balance at beginning of period (shares) at Jul. 31, 2021		16,561,054
Balance at beginning of period at Jul. 31, 2021	737,101	$ 359,732	432,137	(54,768)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,030		2,030
Other comprehensive loss, net of tax	2,838			2,838
Stock-based compensation	1,216	$ 1,216
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		8,531
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(46)	$ (46)
Balance at end of period (shares) at Oct. 31, 2021		16,569,585
Balance at end of period at Oct. 31, 2021	743,139	$ 360,902	434,167	(51,930)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(49,257)		(49,257)
Other comprehensive loss, net of tax	56,075			56,075
Stock-based compensation	1,006	$ 1,006
Exercise of stock-based compensation awards, net of amounts withheld for taxes (shares)		1,034
Exercise of stock-based compensation awards, net of amounts withheld for taxes	(10)	$ (10)
Balance at end of period (shares) at Jan. 31, 2022		16,570,619
Balance at end of period at Jan. 31, 2022	$ 750,953	$ 361,898	384,910	4,145
Balance at beginning of period (shares) at Apr. 30, 2022	16,570,619	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 (loss)	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	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 (loss)	$ 63,582
Balance at end of period (shares) at Jan. 31, 2023	16,621,827	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 (loss)	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 (loss)	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	16,621,827
Balance at end of period at Jan. 31, 2023	$ 843,140	$ 368,539	$ 463,016	$ 11,585

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
OPERATING ACTIVITIES
Net income (loss)	$ 63,582	$ (44,246)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	70,828	72,703
Net loss on disposal of property, plant and equipment	879	516
Reduction in the carrying amount of operating lease right-of-use assets	19,919	20,823
Amortization of debt issuance costs	647	651
Unrealized gain on foreign exchange forward contracts	904	7
Stock-based compensation expense	5,249	3,399
Deferred income taxes	(11,899)	(24,424)
Pension settlement, net	48	69,452
Pension contributions and related (income) expense	0	710
Contributions of employer stock to employee benefit plan	838	2,938
Other non-cash items	3,677	(823)
Changes in operating assets and liabilities:
Customer receivables	36,823	(4,436)
Income taxes receivable	(798)	(8,989)
Inventories	362	(46,054)
Prepaid expenses and other assets	(8,269)	(7,039)
Accounts payable	(53,477)	(5,744)
Accrued compensation and related expenses	7,130	(12,533)
Operating lease liabilities	(20,073)	(18,345)
Marketing and other accrued expenses	(3,759)	(11,603)
Net cash provided (used) by operating activities	110,803	(13,051)
INVESTING ACTIVITIES
Payments to acquire property, plant and equipment	(17,134)	(29,812)
Proceeds from sales of property, plant and equipment	23	5
Investment in promotional displays	(2,149)	(5,959)
Net cash used by investing activities	(19,260)	(35,766)
FINANCING ACTIVITIES
Payments of long-term debt	(67,278)	(40,288)
Proceeds from long-term debt	0	25,000
Repurchase of common stock	0	25,000
Withholding of employee taxes related to stock-based compensation	(773)	(1,089)
Debt issuance cost	0	(6)
Net cash used by financing activities	(68,051)	(41,383)
Net increase (decrease) in cash and cash equivalents	23,492	(90,200)
Cash and cash equivalents, beginning of period	22,325	91,071
Cash and cash equivalents, end of period	45,817	871
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable at period end	1,025	2,108
Cash paid during the period for:
Interest	13,208	6,945
Income taxes	$ 34,998	$ 17,677

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 31, 2023
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, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending April 30, 2023 ("fiscal 2023"). 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, 2022 ("fiscal 2022") 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 or changes in circumstances indicate that the carrying value may not be recoverable. 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 to fair value. There were no impairment charges related to goodwill for the three- and nine-month periods ended January 31, 2023 and 2022. 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. There were no impairment charges related to intangible assets for the three- and nine-month periods ended January 31, 2023 and 2022. 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 (income) expense, 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
	Jan. 31, 2023
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In December 2022, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2022-06 "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848." The amendments in this update defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. In March 2020, the FASB issued ASU 2020-04 "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. ASU 2020-04 provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting

Net Earnings Per Share

Net Earnings Per Share	9 Months Ended
	Jan. 31, 2023
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) 2023 2022 2023 2022 Numerator used in basic and diluted net earnings per common share: Net income (loss) $ 14,728 $ (49,257) $ 63,582 $ (44,246) Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,622 16,570 16,607 16,599 Effect of dilutive securities: Stock options and restricted stock units 74 — 54 — Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 16,696 16,570 16,661 16,599 Net earnings (loss) per share Basic $ 0.89 $ (2.97) $ 3.83 $ (2.67) Diluted $ 0.88 $ (2.97) $ 3.82 $ (2.67) There were no potentially dilutive securities for the three- and nine-month periods ended January 31, 2023, which were excluded from the calculation of net earnings per diluted share. Potentially dilutive securities of 40,973 and 47,878 for the three- and nine-month periods ended January 31, 2022, respectively, have not been considered in the calculation of net loss per share as the effect would be anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jan. 31, 2023
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, 2023, the Board of Directors of the Company approved grants of service-based restricted stock units ("RSUs") and performance-based RSUs to key employees and non-employee directors. The performance-based RSUs totaled 119,772 units and the service-based RSUs totaled 82,848 units. 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 vest. The service-based RSUs 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. All of the Company's RSUs granted to employees cliff-vest three years from the grant date, while RSUs granted to non-employee directors vest daily over a two-year period from the date of grant. For the three- and nine-month periods ended January 31, 2023 and 2022, stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2023 2022 2023 2022 Cost of sales and distribution $ 547 $ 231 $ 1,483 $ 906 Selling and marketing expenses 376 269 1,446 931 General and administrative expenses 937 506 2,320 1,562 Stock-based compensation expense $ 1,860 $ 1,006 $ 5,249 $ 3,399 During the nine months ended January 31, 2023, the Company also approved grants of 11,945 cash-settled performance-based restricted stock tracking units ("RSTUs") and 6,490 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. All of the RSTUs cliff-vest three years from 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 nine-month periods ended January 31, 2023 and 2022, and the liability as of January 31, 2023 and April 30, 2022, related to RSTUs is not significant.

Customer Receivables

Customer Receivables	9 Months Ended
	Jan. 31, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Customer Receivables	Customer Receivables The components of customer receivables were: January 31, April 30, (in thousands) 2023 2022 Gross customer receivables $ 129,375 $ 168,699 Less: Allowance for doubtful accounts (377) (226) Allowance for returns and discounts (11,256) (11,512) Net customer receivables $ 117,742 $ 156,961

Inventories

Inventories	9 Months Ended
	Jan. 31, 2023
Inventory, Net [Abstract]
Inventories	Inventories The components of inventories were: January 31, April 30, (in thousands) 2023 2022 Raw materials $ 105,733 $ 90,451 Work-in-process 54,212 59,180 Finished goods 64,818 78,628 Total inventories $ 224,763 $ 228,259

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	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) 2023 2022 Land $ 4,475 $ 4,431 Buildings and improvements 120,492 119,066 Buildings and improvements - finance leases 11,164 11,164 Machinery and equipment 328,639 324,417 Machinery and equipment - finance leases 30,930 31,341 Software 29,229 28,115 Construction in progress 27,641 22,794 Total property, plant and equipment 552,570 541,328 Less accumulated amortization and depreciation (349,061) (327,520) Property, plant and equipment, net $ 203,509 $ 213,808 Amortization and depreciation expense on property, plant and equipment amounted to $9.3 million and $9.2 million for the three months ended January 31, 2023 and 2022, respectively, and $28.7 million and $28.3 million for the nine months ended January 31, 2023 and 2022, respectively. Accumulated amortization on finance leases included in the above table amounted to $32.8 million and $32.8 million as of January 31, 2023 and April 30, 2022, respectively.

Intangibles

Intangibles	9 Months Ended
	Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The components of customer relationship intangibles were: January 31, April 30, (in thousands) 2023 2022 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (232,139) (197,889) Total $ 41,861 $ 76,111 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, 2023 and 2022 was $11.4 million and $11.4 million, respectively, and $34.2 million and $34.2 million, respectively, for each of the nine month periods ended January 31, 2023 and 2022.

Product Warranty

Product Warranty	9 Months Ended
	Jan. 31, 2023
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) 2023 2022 Beginning balance at May 1 $ 6,878 $ 5,249 Accrual 26,566 18,729 Settlements (25,777) (17,821) Ending balance at January 31 $ 7,667 $ 6,157

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jan. 31, 2023
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 named 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, 2023 and April 30, 2022 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2023 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 228 $ — $ — Interest rate swap contracts — 15,508 — Foreign exchange forward contracts — 904 — Total assets at fair value $ 228 $ 16,412 $ — As of April 30, 2022 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 404 $ — $ — Interest rate swap contracts — 13,687 — Total assets at fair value $ 404 $ 13,687 $ —

Loans Payable and Long-Term Deb

Loans Payable and Long-Term Debt	9 Months Ended
	Jan. 31, 2023
Debt Disclosure [Abstract]
Loans Payable and Long-Term Debt	Loans Payable and Long-Term Debt On December 29, 2017, the Company entered into a credit agreement (the "Prior Credit Agreement") with a syndicate of lenders and Wells Fargo Bank, National Association, as administrative agent. The Prior Credit Agreement provided for a $100 million revolving loan facility with a $25 million sub-facility for the issuance of letters of credit, a $250 million initial term loan facility, and a $250 million delayed draw term loan facility. The Company borrowed the entire $250 million under the initial term loan facility, the entire $250 million under the delayed draw term loan facility, and approximately $50 million under the revolving loan facility in connection with its acquisition of RSI Home Products, Inc. ("RSI") and the refinancing of certain senior notes assumed from RSI. The facilities under the Prior Credit Agreement were scheduled to mature on December 29, 2022. On April 22, 2021, the Company amended and restated the 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, as amended (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 the Prior Credit Agreement and the complete redemption of its 4.875% Senior Notes due 2026. The Company is required to repay the Term Loan Facility in specified quarterly installments. The Revolving Facility and Term Loan Facility mature on April 22, 2026. As of January 31, 2023 and April 30, 2022, $225.0 million and $237.5 million, respectively, was outstanding on the Term Loan Facility. As of January 31, 2023 and April 30, 2022, $210.0 million and $263.0 million, respectively, was outstanding under the Revolving Facility. Outstanding letters of credit under the Revolving Facility were $12.4 million as of January 31, 2023, leaving approximately $277.6 million in available capacity under the Revolving Facility as of January 31, 2023. The outstanding balances noted above approximate fair value as the facilities have a floating interest rate. Effective January 31, 2023, 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, effective January 31, 2023, 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, 2023, the applicable margin with respect to base rate loans and SOFR loans was 0.25% and 1.25%, respectively, and the commitment fee was 0.13%. 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, 2023, 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 Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Jan. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	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. Effective January 31, 2023, 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, 2023, unrealized gains (losses), net of deferred taxes, of ($2.6) million and $1.4 million, respectively, were recorded in other comprehensive income, and $1.8 million and $3.1 million, respectively, of realized gains (losses) 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, 2022, unrealized gains (losses), net of deferred taxes, of $2.3 million and $4.1 million, respectively, were recorded in other comprehensive income, and $0.3 million and $0.7 million, respectively, of realized gains (losses) 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, 2023, the Company anticipates reclassifying approximately $8.8 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. Foreign Exchange Forward Contracts At January 31, 2023, the Company held forward contracts maturing from February 2023 to April 2023 to purchase 208.2 million Mexican pesos at exchange rates ranging from 21.49 to 21.74 Mexican pesos to one U.S. dollar. An immaterial asset is recorded in prepaid expense and other on the condensed consolidated balance sheet.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rates for the three- and nine-month periods ended January 31, 2023 were 25.0% and 25.1%, respectively, compared with 26.0% and 26.3%, respectively, in the comparable periods in the prior fiscal year. The effective rates were higher than the 21.0% U.S. statutory rate for the three- and nine-month periods ended January 31, 2023 primarily due to state income taxes. The effective rate for the periods ended January 31, 2023 was lower than the comparable periods in the prior fiscal year primarily due to unfavorable uncertain tax position booked in the comparable periods and an increase in tax credits for the current period.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jan. 31, 2023
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, 2023 and 2022: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2023 2022 2023 2022 Home center retailers $ 202,881 $ 225,046 $ 681,631 $ 649,712 Builders 212,640 177,716 683,601 539,154 Independent dealers and distributors 65,192 56,974 219,873 166,614 Net Sales $ 480,713 $ 459,736 $ 1,585,105 $ 1,355,480

Concentration of Risk

Concentration of Risk	9 Months Ended
	Jan. 31, 2023
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, 2023, the Company's two largest customers, Customers A and B, represented 39.9% and 16.4% of the Company's gross customer receivables, respectively. As of January 31, 2022, Customers A and B represented 31.3% and 18.8% 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, 2023 and 2022: Three Months Ended Nine Months Ended January 31, January 31, 2023 2022 2023 2022 Customer A 29.5% 32.1% 29.5% 31.9% Customer B 12.8% 16.9% 13.5% 16.0%

Restructuring

Restructuring	9 Months Ended
	Jan. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	RestructuringIn the third quarter of fiscal 2023, the Company implemented nationwide reductions in force, which will be substantially completed in the fourth quarter of fiscal 2023. The Company recognized pre-tax restructuring charges, net of $1.3 million for the three- and nine-months ended January 31, 2023, related to these reductions in force, which were primarily severance and separation costs. A reserve of $1.3 million for restructuring charges is included in accrued compensation and related expenses in the consolidated balance sheet as of January 31, 2023 which relates to employee termination costs accrued but not yet paid.

Other Information

Other Information	9 Months Ended
	Jan. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Other Information	Other InformationThe 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, 2023. 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”). Included in the Determination is a list of Vietnamese suppliers not eligible for certification.

Subsequent Events

Subsequent Events	9 Months Ended
	Jan. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsAs previously disclosed, on January 25, 2016, the Company entered into a New Markets Tax Credit (“NMTC”) financing agreement to finance working capital improvements at its Monticello, Kentucky facility. The agreement was structured with unrelated third-party financial institutions (the “Investors”), their wholly-owned investment funds (the “Investment Funds”) and certain community development entities (the “CDEs”) in connection with our participation in qualified financing transactions under the NMTC program. In exchange for substantially all of the benefits derived from the tax credits, the Investors made a contribution of $2.3 million, net of syndication fees, to the Investment Funds. Simultaneously, a wholly-owned subsidiary of the Company made a $4.3 million loan to the Investment Funds. The Investment Funds used the proceeds of such equity and debt investments to acquire equity interests in the CDEs, which the CDEs in turn used to make loans to the Company aggregating $6.6 million for the project. These loans have terms of 30 years with an aggregate interest rate of approximately 1.2%. The original terms of the transaction included Investor put options, exercisable after 7 years, which, if exercised by the Investors, would require the Company to purchase the Investors’ interests in the Investment Funds. The Investors’ exercised such put options in February 2023 and we repurchased their interests in the Investment Funds in February 2023. The Company does not expect the impact of this transaction to have a material impact on its financial statements.

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	9 Months Ended
	Jan. 31, 2023
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) 2023 2022 2023 2022 Numerator used in basic and diluted net earnings per common share: Net income (loss) $ 14,728 $ (49,257) $ 63,582 $ (44,246) Denominator: Denominator for basic net earnings per common share - weighted-average shares 16,622 16,570 16,607 16,599 Effect of dilutive securities: Stock options and restricted stock units 74 — 54 — Denominator for diluted net earnings per common share - weighted-average shares and assumed conversions 16,696 16,570 16,661 16,599 Net earnings (loss) per share Basic $ 0.89 $ (2.97) $ 3.83 $ (2.67) Diluted $ 0.88 $ (2.97) $ 3.82 $ (2.67)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jan. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation Expense Allocated	For the three- and nine-month periods ended January 31, 2023 and 2022, stock-based compensation expense was allocated as follows: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2023 2022 2023 2022 Cost of sales and distribution $ 547 $ 231 $ 1,483 $ 906 Selling and marketing expenses 376 269 1,446 931 General and administrative expenses 937 506 2,320 1,562 Stock-based compensation expense $ 1,860 $ 1,006 $ 5,249 $ 3,399

Customer Receivables (Tables)

Customer Receivables (Tables)	9 Months Ended
	Jan. 31, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Components of Customer Receivables	The components of customer receivables were: January 31, April 30, (in thousands) 2023 2022 Gross customer receivables $ 129,375 $ 168,699 Less: Allowance for doubtful accounts (377) (226) Allowance for returns and discounts (11,256) (11,512) Net customer receivables $ 117,742 $ 156,961

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 31, 2023
Inventory, Net [Abstract]
Components of Inventories	The components of inventories were: January 31, April 30, (in thousands) 2023 2022 Raw materials $ 105,733 $ 90,451 Work-in-process 54,212 59,180 Finished goods 64,818 78,628 Total inventories $ 224,763 $ 228,259

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Jan. 31, 2023
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) 2023 2022 Land $ 4,475 $ 4,431 Buildings and improvements 120,492 119,066 Buildings and improvements - finance leases 11,164 11,164 Machinery and equipment 328,639 324,417 Machinery and equipment - finance leases 30,930 31,341 Software 29,229 28,115 Construction in progress 27,641 22,794 Total property, plant and equipment 552,570 541,328 Less accumulated amortization and depreciation (349,061) (327,520) Property, plant and equipment, net $ 203,509 $ 213,808

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The components of customer relationship intangibles were: January 31, April 30, (in thousands) 2023 2022 Customer relationship intangibles $ 274,000 $ 274,000 Less accumulated amortization (232,139) (197,889) Total $ 41,861 $ 76,111

Product Warranty (Tables)

Product Warranty (Tables)	9 Months Ended
	Jan. 31, 2022
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) 2023 2022 Beginning balance at May 1 $ 6,878 $ 5,249 Accrual 26,566 18,729 Settlements (25,777) (17,821) Ending balance at January 31 $ 7,667 $ 6,157

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jan. 31, 2023
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, 2023 and April 30, 2022 at fair value on a recurring basis (in thousands): Fair Value Measurements As of January 31, 2023 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 228 $ — $ — Interest rate swap contracts — 15,508 — Foreign exchange forward contracts — 904 — Total assets at fair value $ 228 $ 16,412 $ — As of April 30, 2022 Level 1 Level 2 Level 3 ASSETS: Mutual funds $ 404 $ — $ — Interest rate swap contracts — 13,687 — Total assets at fair value $ 404 $ 13,687 $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Jan. 31, 2023
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, 2023 and 2022: Three Months Ended Nine Months Ended January 31, January 31, (in thousands) 2023 2022 2023 2022 Home center retailers $ 202,881 $ 225,046 $ 681,631 $ 649,712 Builders 212,640 177,716 683,601 539,154 Independent dealers and distributors 65,192 56,974 219,873 166,614 Net Sales $ 480,713 $ 459,736 $ 1,585,105 $ 1,355,480

Concentration of Risk (Tables)

Concentration of Risk (Tables)	9 Months Ended
	Jan. 31, 2023
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, 2023 and 2022: Three Months Ended Nine Months Ended January 31, January 31, 2023 2022 2023 2022 Customer A 29.5% 32.1% 29.5% 31.9% Customer B 12.8% 16.9% 13.5% 16.0%

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($)	9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to goodwill	$ 0	$ 0
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Impairment charges related to other intangible assets	$ 0	$ 0
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	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, 2023	Oct. 31, 2022	Jul. 31, 2022	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Jan. 31, 2023	Jan. 31, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 14,728	$ 28,784	$ 20,070	$ (49,257)	$ 2,030	$ 2,981	$ 63,582	$ (44,246)
Denominator for basic net earnings per common share - weighted-average shares	16,621,827			16,569,881			16,606,700	16,599,369
Effect of dilutive securities:
Stock options and restricted stock units	74,000			0			54,000	0
Diluted (in shares)	16,695,714			16,569,881			16,661,234	16,599,369
Earnings Per Share, Basic [Abstract]
Basic (in usd per share)	$ 0.89			$ (2.97)			$ 3.83	$ (2.67)
Earnings Per Share, Diluted [Abstract]
Diluted (in usd per share)	$ 0.88			$ (2.97)			$ 3.82	$ (2.67)
Stock excluded from the calculation of net earnings per share (shares)	0			40,973			0	47,878

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	9 Months Ended
	Jan. 31, 2023 shares
Employee Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)	119,772
Common stock issuable per RSU granted (shares)	1
Employee Service-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded in period (shares)	82,848
Employee Performance-Based RSTUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (shares)	11,945
Employee Service-Based RSTUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units non vested grants (shares)	6,490
Cliff Vest | RSUs | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Cliff Vest | RSTUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	3 years
Daily Vest | RSUs | Non-Employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, years	2 years

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock-Based Compensation Expense Allocated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,860	$ 1,006	$ 5,249	$ 3,399
Cost of sales and distribution
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	547	231	1,483	906
Selling and marketing expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	376	269	1,446	931
General and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 937	$ 506	$ 2,320	$ 1,562

Customer Receivables (Component

Customer Receivables (Components Of Customer Receivables ) (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Apr. 30, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Gross customer receivables	$ 129,375	$ 168,699
Less:
Allowance for doubtful accounts	(377)	(226)
Allowance for returns and discounts	(11,256)	(11,512)
Net customer receivables	$ 117,742	$ 156,961

Inventories (Components Of Inve

Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Apr. 30, 2022
Inventory, Net [Abstract]
Raw materials	$ 105,733	$ 90,451
Work-in-process	54,212	59,180
Finished goods	64,818	78,628
Inventories	$ 224,763	$ 228,259

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Apr. 30, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 552,570		$ 552,570		$ 541,328
Less accumulated amortization and depreciation	(349,061)		(349,061)		(327,520)
Property, Plant and Equipment, Net, Total	203,509		203,509		213,808
Amortization and depreciation expense on property, plant and equipment	9,300	$ 9,200	28,700	$ 28,300
Finance lease, right-of-use asset, accumulated amortization	32,800		32,800		32,800
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,475		4,475		4,431
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	120,492		120,492		119,066
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	328,639		328,639		324,417
Machinery and equipment - finance leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	30,930		30,930		31,341
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29,229		29,229		28,115
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 27,641		$ 27,641		$ 22,794

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - Customer relationships - USD ($) $ in Thousands	Jan. 31, 2023	Apr. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Intangibles, gross	$ 274,000	$ 274,000
Less accumulated amortization	(232,139)	(197,889)
Intangibles, net	$ 41,861	$ 76,111

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 11.4	$ 11.4	$ 34.2	$ 34.2
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives			6 years

Product Warranty (Schedule Of W

Product Warranty (Schedule Of Warranty Liability) (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Product Warranties Disclosures [Abstract]
Warranty claims period	2 months
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 6,878	$ 5,249
Accrual	26,566	18,729
Settlements	(25,777)	(17,821)
Ending balance	$ 7,667	$ 6,157

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Assets On Recurring Basis) (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Apr. 30, 2022
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	228	404
Level 1 | Foreign exchange forward contracts
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	15,508	13,687
Total assets at fair value	16,412	13,687
Level 2 | Foreign exchange forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange forward contracts	(904)
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 forward contracts
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	228	404
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
	Apr. 22, 2021	Dec. 29, 2017	Jan. 31, 2023	Apr. 30, 2022	Jan. 25, 2016
Debt Instrument [Line Items]
Debt instrument, face amount					$ 6,600,000
Loans Payable [Member] | Initial Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 250,000,000
Proceeds from loan		250,000,000
Loans Payable [Member] | Delayed Draw Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		250,000,000
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			$ 225,000,000	$ 237,500,000
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	100,000,000
Proceeds from loan	264,000,000	50,000,000
Outstanding on the Revolving Facility			210,000,000	$ 263,000,000
Line of Credit Facility, Remaining Borrowing Capacity			$ 277,600,000
Credit facility, commitment fee percentage			0.13%
Consolidated Interest Coverage Ratio			2
Total Net Leverage Ratio			4
Letter of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 25,000,000
Outstanding on the Revolving Facility			$ 12,400,000
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			0.25%
London Interbank Offered Rate (LIBOR) [Member] | 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			1.25%

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023 USD ($)	Jan. 31, 2022 USD ($)	Jan. 31, 2023 USD ($)	Jan. 31, 2022 USD ($)	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 $(890) and $763, and $461 and $1,404 for the three and nine months ended January 31, 2023 and 2022, respectively	$ (2,627)	$ 2,253	$ 1,360	$ 4,145
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			8,800
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	1,800	300	3,100	700
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 $(890) and $763, and $461 and $1,404 for the three and nine months ended January 31, 2023 and 2022, respectively	2,600	$ 2,300	1,400	$ 4,100
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
Foreign Exchange Forward | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	208,200		208,200
Foreign Exchange Forward | Not Designated as Hedging Instrument | Prepaid Expenses and Other Current Assets [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value, gross asset	$ 0		$ 0
Foreign Exchange Forward | Not Designated as Hedging Instrument | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, forward exchange rate	21.49		21.49
Foreign Exchange Forward | Not Designated as Hedging Instrument | Maximum | Long
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, forward exchange rate	21.74		21.74

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	25%	26%	25.10%	26.30%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 480,713	$ 459,736	$ 1,585,105	$ 1,355,480
Home center retailers
Disaggregation of Revenue [Line Items]
Net sales	202,881	225,046	681,631	649,712
Builders
Disaggregation of Revenue [Line Items]
Net sales	212,640	177,716	683,601	539,154
Independent dealers and distributors
Disaggregation of Revenue [Line Items]
Net sales	$ 65,192	$ 56,974	$ 219,873	$ 166,614

Concentration of Risk (Details)

Concentration of Risk (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Customer receivables | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)			39.90%	31.30%
Customer receivables | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)			16.40%	18.80%
Sales revenue, gross | Customer A
Concentration Risk [Line Items]
Concentration risk (as a percent)	29.50%	32.10%	29.50%	31.90%
Sales revenue, gross | Customer B
Concentration Risk [Line Items]
Concentration risk (as a percent)	12.80%	16.90%	13.50%	16%

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring charges, net	$ 1,310	$ (127)	$ 1,310	$ 183

Other Information (Details)

Other Information (Details) $ in Millions	9 Months Ended
	Jan. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Estimate of Possible Loss	$ 8
Loss Contingency, Deposit Payment	$ 3.9

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	Jan. 25, 2016 USD ($)
Subsequent Events [Abstract]
Investment Tax Credit	$ 2,300
Financing Receivable, after Allowance for Credit Loss	4,300
Debt instrument, face amount	$ 6,600
Debt Instrument, Interest Rate, Effective Percentage	1.20%
Debt Instrument, Term	30 years
Put Option, Term	7 years