Armstrong World Inds Inc Stock Price, News & Analysis

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.

Armstrong World Industries (AWI) has acquired the business and assets of Moz Designs, known for its custom architectural metal ceilings and dividers. This acquisition enriches AWI's portfolio, particularly in the metal category, which is seeing increased demand for cleanable surfaces. Moz's recent introduction of standard acrylic dividers aligns with current market trends for healthier spaces. This move is expected to enhance AWI's market position, leveraging Moz's design capabilities and sustainability practices. Financial terms of the acquisition remain undisclosed.

Armstrong World Industries (NYSE: AWI) announced the acquisition of Chicago-based Turf Design, Inc., a leader in custom felt ceiling and wall solutions, generating annual revenues of approximately $25 million. This acquisition enhances AWI's design and manufacturing capabilities, adding sustainable products made from recycled materials. CEO Vic Grizzle emphasized the growing demand for acoustical solutions and the strategic importance of Turf's innovation in the felt category. The deal was funded through cash and a credit facility, with details on financial terms not disclosed.

Armstrong World Industries (AWI) reported a Q2 2020 net sales of $203.2 million, down 25% year-over-year. Operating income dropped 28% to $62.4 million, with adjusted EBITDA down 36%. The company anticipates a 10%-18% revenue decline for FY 2020. AWI acquired Turf Design, enhancing its position in specialty ceiling and wall solutions. Despite challenges from COVID-19, the firm noted a sequential improvement in performance and plans to boost its share repurchase program from $700 million to $1.2 billion, extending it to 2023.

Armstrong World Industries (NYSE: AWI) announced a cash dividend of $0.20 per share for Q2 2020, payable on August 20, 2020, to shareholders of record as of August 6, 2020. The future dividends and capital allocations are subject to the company’s financial stability, operational results, and cash flow. The company, specializing in ceiling and wall systems, reported over $1B in revenue and approximately 2,500 employees. Caution is advised due to uncertainties that may affect future financial results and operational performance.

Armstrong World Industries (NYSE: AWI) will release its second quarter 2020 results through a webcast and conference call on July 28, 2020, at 11:00 a.m. Eastern time. Investors can access the details via the Investor Relations page on www.armstrongceilings.com.

To join by telephone, dial (877) 312-9198 for U.S./Canada or (631) 291-4622 internationally, using Conference ID: 9986802. A replay will be available for one year post-call on the same website.