Armstrong World Inds Inc Stock Price, News & Analysis

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.

Armstrong World Industries reported Q3 2020 net sales of $246.3 million, an 11% decline year-over-year. Operating income dropped 36% to $72.3 million, with earnings from continuing operations down 40% at $54.2 million. The company cited lower demand due to COVID-19, impacting both segments. Despite setbacks, Armstrong acquired Turf Design and Moz Designs to enhance their offerings. For 2020, the company projects net sales between $920-$935 million and adjusted EBITDA of $320-$330 million.

Armstrong World Industries (NYSE:AWI) announced the launch of its 24/7 Defend™ portfolio, aimed at enhancing indoor air quality and safety. Key offerings include AirAssure™ ceiling systems that significantly reduce air leakage by four times, allowing ventilation systems to filter up to 40% more air. Additionally, the VidaShield UV24™ air purification system, developed in partnership with Medical Illumination, neutralizes 97% of airborne pathogens on the first pass. These solutions are designed to meet the increasing health standards associated with post-COVID-19 environments.

Armstrong World Industries (AWI) has announced a 5% increase in its quarterly dividend to $0.21 per share, effective for the third quarter of 2020. The dividend will be payable on November 19, 2020, with a record date of November 5, 2020. The company is on track to deliver over $200 million in adjusted free cash flow for the year, reflecting strong cash flow performance despite market challenges. Future dividends will depend on the company’s financial position, operations, and cash flow.

Armstrong World Industries (NYSE:AWI) is set to announce its third quarter 2020 results through a webcast and conference call scheduled for October 27, 2020, at 11:00 a.m. Eastern time. Interested participants can access the call via telephone by dialing (877) 312-9198 for U.S./Canada or (631) 291-4622 internationally, with Conference ID: 4894246. A replay of the call will be available on their Investor Relations page for up to one year. Media representatives may only listen to the call.