Armstrong World Inds Inc Stock Price, News & Analysis

Armstrong World Industries (NYSE:AWI) reported a 1.3% increase in net sales for Q1 2021, totaling $251.9 million. However, operating income fell by 29% to $54.1 million, and adjusted EBITDA decreased by 12% to $85 million. The company maintains its 2021 guidance, projecting sales growth of 10% to 13% and adjusted EBITDA growth of 9% to 13%. CEO Vic Grizzle noted strong order intake in Architectural Specialties, while CFO Brian MacNeal highlighted improving market conditions.

Armstrong World Industries, Inc. (AWI) has declared a cash dividend of $0.21 per share for Q1 2021. This dividend will be distributed on May 20, 2021, to shareholders on record by May 6, 2021. The decision regarding future dividends will depend on the company’s financial position and cash flow. In 2020, AWI reported over $937 million in revenue, showcasing its robust business standing despite uncertainties, including impacts from COVID-19.

Armstrong World Industries (NYSE:AWI) released the 2021 Pulse Point Occupants Survey, revealing evolving employee expectations for post-pandemic workspaces. Key findings include that 86% of respondents wish to feel safe in their work environment, 83% expect adaptability to future events, and 84% prioritize well-being. The trends emphasize the need for holistic design approaches that foster resilience and health. AWI's commitment to sustainability and creating environments that support well-being is evident through their 2030 goals, aligning with the rising demand for healthier spaces.

Armstrong World Industries (NYSE: AWI) will announce its Q1 2021 financial results on April 27, 2021, during a conference call and webcast at 11:00 a.m. Eastern Time. Interested investors can access the event through the Investor Relations page on www.armstrongceilings.com.

To join via phone, dial (877) 312-9198 for U.S./Canada or (631) 291-4622 for international callers, using Conference ID 1564159. A replay will be available on the website for one year following the call.

Armstrong World Industries reported a 3% decline in net sales compared to Q4 2019, totaling $238.7 million, with operating income down 29% at $44.1 million. Adjusted EBITDA decreased 19% to $73 million. The drop was attributed to lower demand due to COVID-19 and an unfavorable channel mix. Despite challenges, the company acquired Arktura, LLC, and generated over $200 million in free cash flow. For 2021, Armstrong anticipates a net sales increase of 10%-13% and EBITDA growth of 9%-13%.

Armstrong World Industries, Inc. (AWI) declared a cash dividend of $0.21 per share for Q4 2020, payable on March 18, 2021, to shareholders of record by March 4, 2021. The Board of Directors will determine future dividends based on the company's financial position, operational results, and cash flow. Armstrong reported over $1 billion in revenue in 2019 and employs approximately 2,700 people across its manufacturing network.

Armstrong World Industries will report its fourth quarter and full year 2020 results via a webcast and conference call on February 23 at 11:00 a.m. Eastern time. Investors can access the call details on the Investor Relations page of www.armstrongceilings.com.

To participate by phone, dial (877) 312-9198 for U.S./Canada or (631) 291-4622 for international callers, using Conference ID 3839519. A replay will be available for up to one year post-call.

Armstrong World Industries (NYSE:AWI) has completed the acquisition of Arktura, LLC, an innovative designer and fabricator of architectural solutions. This strategic move enhances AWI's design capabilities and product portfolio, particularly in specialty metal and felt solutions. The acquisition is supported by a projected revenue of approximately $37 million for Arktura in 2020 and involves funding via AWI's revolving credit and cash. Additionally, AWI will issue about 18,000 restricted stock awards to Arktura employees to ensure retention and acknowledge their contributions.

Armstrong World Industries (NYSE: AWI) announced its acquisition of Arktura, a designer of ceilings and walls, aiming to enhance design capabilities and drive growth. Arktura, expected to generate $37M in revenues for 2020, complements AWI’s strategy in architectural specialties. The deal will establish Arktura Ventures LLC to innovate in architecture and construction. The acquisition is set to close by year-end, pending regulatory approvals, with AWI funding through existing financial resources.