Financial Data and Key Metrics Changes - In 2025, the company achieved a 12% increase in net sales compared to the previous year, with adjusted EBITDA growing by 14% and adjusted EBITDA margin expanding by 70 basis points [7][21] - The company reported double-digit growth for the second consecutive year, marking the fifth consecutive year of net sales and earnings growth [8][21] - Adjusted diluted net earnings per share increased by 17%, and adjusted free cash flow rose by 16% [21][22] Business Line Data and Key Metrics Changes - The Mineral Fiber segment saw a 3% sales growth in Q4, driven by a 6% increase in average unit value (AUV), despite lower sales volumes due to external factors [16][17] - Architectural Specialties (AS) segment delivered an 11% top-line growth in Q4, supported by contributions from recent acquisitions and organic growth [19][21] - Mineral Fiber adjusted EBITDA margin reached a record 42.1% in Q4, while AS segment adjusted EBITDA margin was approximately 18%, below the 20% target due to project delays [17][19] Market Data and Key Metrics Changes - The company anticipates flat to 1% growth in Mineral Fiber volume for 2026, with AUV growth expected to be around 6% [25][26] - High single-digit organic growth is expected in the AS segment, driven by market penetration and contributions from recent acquisitions [25][26] - The company expects total net sales growth of 8%-10% in 2026, with adjusted EBITDA growth of 8%-12% [25][26] Company Strategy and Development Direction - The company is focused on innovation, operational excellence, and expanding its architectural specialties business through acquisitions [30][34] - Recent acquisitions, including Eventscape, are expected to enhance the company's ability to partner with architects and designers, driving growth in commercial buildings [34][37] - The company is prioritizing energy-efficient building solutions and data centers as key growth areas, aligning with macro trends in construction [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about slightly improving market conditions in 2026, despite ongoing uncertainties related to policy and geopolitical events [37] - The transportation vertical is expected to remain a growth area, along with gradual recovery in the office vertical [38] - Management noted that project bids for office spaces are significantly higher than inflationary levels, indicating increased investment in tenant improvements [60][62] Other Important Information - The company has a strong balance sheet and ample liquidity, with $533 million remaining under the existing share repurchase authorization [24] - The company is committed to disciplined capital allocation, prioritizing reinvestment in the business, strategic acquisitions, and returning cash to shareholders [23][24] Q&A Session Summary Question: What is the price and mix split for the 6% AUV growth in 2026? - Management indicated that the AUV performance was above historical levels, with a slight bias towards price rather than mix due to inflationary pressures [46] Question: How should we think about strategic continuity and top priorities under new leadership? - The new CEO emphasized that there will be no pivot in strategic direction, focusing on innovation, growth initiatives, and productivity [48][49] Question: Can you discuss the operating environment and the momentum of new products? - Management noted that while the overall starts of work in the marketplace are flat, the values of bids for office spaces are significantly higher, indicating a positive trend [58][60] Question: What are the expectations for input inflation in 2026? - Input inflation is expected to be in the mid-single-digit range, with specific components like energy seeing higher inflation [68][69] Question: What gives confidence in the architectural specialties organic growth returning to high single digits? - Management highlighted strong backlog growth and order intake at double-digit levels, indicating confidence in returning to high single-digit growth [85][86]

Armstrong World Industries (NYSE:AWI) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Company ParticipantsChris Calzaretta - CFOJohn Lovallo - Managing DirectorKeith Hughes - Managing Director of Sell Side Equity ResearchMark Hershey - COOPhilip Ng - Managing DirectorSean Kelleher - Managing DirectorStephen Kim - Senior Managing DirectorTheresa Womble - VP of Investor Relations and Corporate CommunicationsTomohiko Sano - Co-head of Japan Equity ResearchVic Grizzle - CEOConference Call ParticipantsAdam B ...

Armstrong World Industries (NYSE:AWI) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Speaker7Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Armstrong World Industries fourth quarter and full year 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during ...

4 th Quarter and Full Year 2025 Earnings Presentation February 24, 2026 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, market and broader economic conditions and guidance. Those statements provide our future expectations or forecasts and can be identified by our use of words such as "anticipate," "esti ...

Armstrong World Industries (AWI) came out with quarterly earnings of $1.61 per share, missing the Zacks Consensus Estimate of $1.67 per share. This compares to earnings of $1.5 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.59%. A quarter ago, it was expected that this ceiling and wall systems manufacturer would post earnings of $1.99 per share when it actually produced earnings of $2.05, delivering a surprise of +3.02%.Ov ...

Employee Statistics - As of December 31, 2025, the company had approximately 3,800 employees, with a voluntary turnover rate of 8% for non-production employees and 12% for production employees[58]. - As of December 31, 2025, approximately 54% of the company's production employees in the U.S. were represented by labor unions[59]. Financial Liabilities and Interest Rates - The company reported liabilities for environmental matters of $4.1 million as of December 31, 2025, down from $4.6 million in 2024[67]. - The company has interest rate swaps outstanding with notional amounts totaling $325 million as of December 31, 2025, aimed at minimizing earnings fluctuations due to interest rate volatility[247]. - A hypothetical increase of 0.25% in SOFR interest rates would increase the company's 2026 interest expense by approximately $0.3 million[246]. - The average interest rate for variable rate principal payments scheduled for 2026 is 4.61%, with total variable rate principal payments amounting to $410.6 million[249]. Sustainability Initiatives - The company is committed to sustainability, focusing on reducing its carbon footprint and improving product circularity, which aligns with its growth strategy[53]. - The company has developed a mineral fiber ceilings recycling program to divert reclaimed ceiling tiles from landfills, anticipating increased demand for sustainable products[53]. Research and Development - The company engages in research and development activities to enhance product competitiveness and manufacturing processes[63]. Employee Health and Safety - The company maintains a focus on employee health and safety, aiming to eliminate workplace injuries and promote a culture of safety[60].

Exhibit 99.1 Armstrong World Industries Reports Record-Setting Fourth-Quarter and Full-Year 2025 Results Fourth-Quarter 2025 Full-Year 2025 LANCASTER, Pa., Feb. 24, 2026 -- Armstrong World Industries, Inc. (NYSE:AWI), an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions, today reported fourth-quarter and full- year 2025 financial results highlighted by strong sales and earnings growth ...

LANCASTER, Pa.--(BUSINESS WIRE)--Armstrong World Industries. Inc. (NYSE: AWI), an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions, announced today that it has acquired Eventscape, Inc., a globally recognized design and fabrication company known for delivering complex, design-driven architectural environments. Based in New York City and Toronto, Canada, Eventscape special. ...

Core Insights - The London Company Small Cap portfolio achieved a 2.7% increase (2.5% net) during the quarter, outperforming the Russell 2000 Index, which increased by 2.2% [2][3]

Core Insights - The article compares two small-cap growth ETFs, the Vanguard Small-Cap Growth ETF (VBK) and the iShares S&P Small-Cap 600 Growth ETF (IJT), focusing on their cost, performance, risk, and portfolio construction to assist investors in making informed decisions [1][2] Cost & Size Comparison - IJT has an expense ratio of 0.18%, while VBK has a lower expense ratio of 0.07% [3] - As of January 17, 2026, IJT's one-year return is 8.63%, compared to VBK's 12.47% [3] - IJT offers a dividend yield of 0.91%, higher than VBK's 0.54% [3] - Assets under management (AUM) for IJT is $6 billion, while VBK has significantly higher AUM at $39 billion [3] Performance & Risk Comparison - Over the past five years, IJT experienced a maximum drawdown of -29.23%, while VBK had a deeper drawdown of -38.39% [4] - An investment of $1,000 in IJT would have grown to $1,227 over five years, while the same investment in VBK would have grown to $1,155 [4] Portfolio Composition - VBK holds 552 positions, with 27% allocated to technology, 21% to industrials, and 18% to healthcare, featuring top holdings like Insmed and SoFi Technologies [5] - IJT contains 348 stocks, with a more balanced sector allocation: 20% in technology, 19% in industrials, and 17% in healthcare, including leading positions like Arrowhead Pharmaceuticals [6] Investment Implications - Both ETFs focus on small-cap stocks with growth potential, which may lead to higher total returns over time [7] - VBK is considered slightly higher risk due to its heavier tilt towards technology, indicated by a higher beta of 1.43 compared to IJT's 1.18 [8] - IJT's higher dividend yield may appeal to income-focused investors, despite its higher expense ratio compared to VBK [9] - Investors must weigh their goals, as VBK has shown larger price swings but has outperformed IJT over the last 12 months [10]