Armstrong World Industries Inc

Latest Results (24.12.2024):

Record Net Sales

Armstrong World Industries Inc. reported record-setting net sales of $387 million for the third quarter of 2024, marking an 11% increase compared to the same period in the previous year. This growth was driven by higher sales volumes and favorable Average Unit Value (AUV), with significant contributions from the Architectural Specialties and Mineral Fiber segments.

Operating Income Growth

The company's operating income for the third quarter of 2024 increased by 11.1% to $111.3 million. This improvement was primarily due to a margin benefit from higher sales volumes and favorable AUV, partially offset by increased selling, general, and administrative expenses related to recent acquisitions.

Earnings Per Share Increase

Armstrong World Industries Inc. saw a 12.2% increase in diluted net earnings per share, reaching $1.75 in the third quarter of 2024. Adjusted diluted net earnings per share also rose by 13.1% to $1.81, reflecting the company's strong financial performance and strategic initiatives.

Adjusted EBITDA and Margins

The company's adjusted EBITDA for the third quarter of 2024 was $139 million, up 11.2% from the previous year. The adjusted EBITDA margin was 35.9%, slightly down by 10 basis points, indicating robust profitability despite increased expenses from acquisitions and operational investments.

Updated 2024 Outlook

Armstrong World Industries Inc. has raised its full-year 2024 guidance for adjusted EBITDA, adjusted diluted net earnings per share, and adjusted free cash flow. The company expects to achieve double-digit growth in net sales and earnings, driven by strong performance in its Mineral Fiber and Architectural Specialties segments.