Armstrong World Industries (AWI) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power o ...

Armstrong World Industries, Inc. (AWI) unveils Ultima Low Embodied Carbon (LEC) ceiling panels to aid building owners, architects and contractors in reducing environmental impact. The move signifies the company's continued focus on expanding its range of products aimed at reducing the environmental impact of buildings.Armstrong aims to offer products supporting decarbonization and circularity in the built environment. Its latest offerings, Ultima LEC and Ultima Templok Energy Saving Ceiling panels are devel ...

Core Viewpoint - Armstrong World Industries, Inc. (AWI) is experiencing solid growth in its Mineral Fiber and Architectural Specialties segments, supported by recent acquisitions and positive financial performance [1][2]. Financial Performance - In Q1 2024, AWI reported adjusted EPS growth of 23.2% year over year, with net sales increasing by 5.2% [2]. - The favorable average unit value (AUV) of $20 million and a $3 million contribution from the acquisition of BOK Modern, LLC contributed to this growth [2]. - Operating margin expanded by 380 basis points, and adjusted EBITDA margin rose by 300 basis points compared to the previous year [2]. 2024 Guidance - AWI raised its 2024 net sales outlook to $1.395-$1.435 billion, indicating an 8-11% increase from the previous year's $1.295 billion [3]. - Adjusted EBITDA is projected to be between $465 million and $485 million, reflecting an 8-13% year-over-year rise from $430 million [3]. - The adjusted EPS guidance is now set at $5.80-$6.05, representing a growth of 9-14% from the 2023 figure of $5.32 [3]. Segment Performance - For the Mineral Fiber segment, net sales are expected to grow by 2-15% year over year, with an adjusted EBITDA margin exceeding 40% [4]. - The Architectural Specialties segment's net sales growth expectations have been significantly raised to 21-24% year over year, up from the previous 6-9% forecast, with an adjusted EBITDA margin nearing 18% [4]. Share Price Performance - AWI's shares have outperformed the Zacks Building Products – Miscellaneous industry and the S&P 500 over the past six months, gaining 40.9% compared to the industry's 31.9% and the S&P 500's 17.7% [5]. Analyst Sentiment - The consensus estimate for 2024 EPS has increased to $5.89, reflecting a 10.7% year-over-year growth [6]. - AWI has a solid earnings surprise history, with EPS surpassing consensus estimates in the last four quarters, averaging 15.2% [6]. Strategic Initiatives - The company is focused on digitalization and technology enhancement, investing in Healthy Spaces and digital initiatives to support growth [7]. - AWI has strategically invested in new products and advanced manufacturing capabilities, with recent investments in metal, wood, and Tectum supporting performance [7]. Acquisitions and Financial Health - AWI has acquired nine companies in the past seven years to expand its Architectural Specialties segment, including the recent acquisition of 3form, LLC [8]. - The company has returned over $1 billion through dividends and share repurchases since 2016, with a recent repurchase of 0.1 million shares for $15 million [8]. - On October 18, 2023, AWI announced a 10.2% increase in its quarterly cash dividend to 28 cents per share, marking five consecutive years of dividend increases [9].

Core Insights - Armstrong World Industries, Inc. (AWI) reported strong first-quarter 2024 results, with earnings and net sales exceeding expectations and showing year-over-year growth [1][3] - The growth was driven by the Mineral Fiber and Architectural Specialties segments, supported by favorable pricing, mix, and contributions from recent acquisitions [1][2] Financial Performance - Adjusted earnings were $1.38 per share, surpassing the Zacks Consensus Estimate of $1.21 by 14.1% and growing 23.2% year over year [3] - Net sales reached $326.3 million, exceeding the consensus mark of $317.8 million by 2.7% and increasing 5.2% year over year [3] - Operating income grew 22.6% to $86.1 million, with an operating margin expansion of 380 basis points to 26.4% [4] - Adjusted EBITDA increased 16% to $111 million, with an adjusted EBITDA margin rise of 300 basis points to 33.9% [4] Segment Performance - Mineral Fiber segment net sales grew 4.9% year over year to $239.6 million, with an operating income increase of 24.1% to $79.2 million [5] - Architectural Specialties segment net sales rose 6% to $86.7 million, driven by recent acquisitions and custom metal project sales, although operating income declined 6.9% to $7.7 million [5][6] Cash Flow and Financial Position - As of March 31, 2024, cash and cash equivalents were $69.6 million, with adjusted free cash flow increasing to $43 million from $30 million year over year [7] - The company repurchased 0.1 million shares for $15 million during the quarter, with $702 million remaining under the share repurchase program [7] Updated Guidance - Armstrong World updated its 2024 outlook, projecting net sales between $1,395-$1,435 million, adjusted EBITDA between $465-$485 million, and adjusted earnings per share between $5.80 and $6.05 [8][9]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies, including daily updates, research reports, and stock screens [1] - The Zacks Style Scores categorize stocks into Value, Growth, Momentum, and VGM Scores, helping investors identify stocks with the potential to outperform the market [2][3] Zacks Style Scores - **Value Score**: Focuses on identifying undervalued stocks using ratios like P/E, PEG, and Price/Sales [2] - **Growth Score**: Evaluates a company's financial health and future growth potential based on earnings and sales projections [2] - **Momentum Score**: Assesses stocks based on price trends and earnings estimate changes to capitalize on market momentum [2] - **VGM Score**: Combines Value, Growth, and Momentum scores to identify stocks with the best overall characteristics [3] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in stock selection, with 1 (Strong Buy) stocks historically yielding an average annual return of +25.41% since 1988 [4] - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal investment success [5] Company Spotlight: Armstrong World Industries (AWI) - Armstrong World Industries, established in 1891, is a leading global producer of ceiling systems for various building applications [6] - AWI holds a Zacks Rank of 2 (Buy) and a VGM Score of B, indicating strong investment potential [6] - The company has a Value Style Score of B, supported by a forward P/E ratio of 19.93, making it attractive to value investors [6] - Recent earnings estimates for fiscal 2024 have been revised upward, with the Zacks Consensus Estimate increasing by $0.12 to $5.77 per share, and an average earnings surprise of 15.2% [6][7]

st 1 Quarter 2024 Earnings Presentation April 30, 2024 Safe Harbor Statement Disclosures in this presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, those relating to future financial and operational results, expected savings from cost management initiatives, the performance of our WAVE1 joint venture, market and broader economic conditions and guidance. Those statements provide our future expectations or f ...

Armstrong World Industries, Inc. (NYSE:AWI) Q1 2024 Earnings Conference Call April 30, 2024 11:00 AM ET Company Participants Theresa Womble - Vice President, Investor Relations and Corporate Communications Vic Grizzle - Chief Executive Officer Chris Calzaretta - Chief Financial Officer Conference Call Participants Susan Maklari - Goldman Sachs Garik Shmois - Loop Capital Adam Baumgarten - Zelman & Associates Keith Hughes - Truist Stephen Kim - Evercore ISI Spencer Kaufman - UBS Rafe Jadrosich - Bank of Amer ...

Armstrong World Industries (AWI) reported $326.3 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 5.2%. EPS of $1.38 for the same period compares to $1.12 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $317.84 million, representing a surprise of +2.66%. The company delivered an EPS surprise of +14.05%, with the consensus EPS estimate being $1.21.While investors closely watch year-over-year changes in headline numbers -- revenue and e ...

Armstrong World Industries (AWI) came out with quarterly earnings of $1.38 per share, beating the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $1.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.05%. A quarter ago, it was expected that this ceiling and wall systems manufacturer would post earnings of $1.03 per share when it actually produced earnings of $1.22, delivering a surprise of 18.45%.O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share AWI New York Stock Exchange FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commissio ...