Financial Performance - Fourth-quarter 2024 net sales reached $367.7 million, an increase of 17.7% compared to $312.3 million in Q4 2023[3] - Full-year 2024 net sales totaled $1.4457 billion, reflecting an 11.6% increase from $1.2952 billion in 2023[12] - Operating income for Q4 2024 was $81.9 million, up 23.5% from $66.3 million in Q4 2023, with an operating income margin of 22.3%[3] - Diluted net earnings per share for Q4 2024 increased by 34.0% to $1.42, compared to $1.06 in Q4 2023[3] - Net earnings for the year 2024 were $264.9 million, up 18.4% from $223.8 million in 2023[32] - Adjusted diluted EPS for Q4 2024 was $1.50, a 23.0% increase compared to $1.22 in Q4 2023[45] Segment Performance - Architectural Specialties segment net sales surged 40.8% in Q4 2024, driven by acquisitions and increased custom project sales[10] - The Mineral Fiber segment reported net sales of $238.2 million in Q4 2024, up from $220.3 million in Q4 2023[28] - Architectural Specialties segment net sales increased to $129.5 million in Q4 2024, compared to $92.0 million in Q4 2023, marking a 40.7% growth[28] - Net sales for the Mineral Fiber segment increased to $238 million in Q4 2024, up from $220 million in Q4 2023, representing an 8.2% growth[39] - Adjusted EBITDA for the Mineral Fiber segment reached $89 million in Q4 2024, compared to $81 million in Q4 2023, reflecting a 9.9% increase[39] - Architectural Specialties net sales rose to $130 million in Q4 2024, a significant increase from $92 million in Q4 2023, marking a 41.3% growth[41] Cash Flow and Guidance - Adjusted free cash flow for 2024 was $298 million, with a guidance of $315 million to $335 million for 2025, indicating a growth of 6% to 12%[18] - The company reported a $33 million increase in cash flows from operating activities in 2024 compared to the prior year[15] - The company reported a net cash provided by operating activities of $87 million in Q4 2024, compared to $57 million in Q4 2023, representing a 52.6% increase[43] - The company expects adjusted EBITDA for the year ending December 31, 2025, to be between $525 million and $545 million[48] - Adjusted Free Cash Flow guidance for 2025 is projected to be between $315 million and $335 million[53] Future Projections - For 2025, the company projects net sales between $1.57 billion and $1.61 billion, representing a growth of 9% to 11%[18] - The company anticipates net earnings for 2025 to be between $293 million and $297 million, translating to an adjusted diluted EPS of $6.72 to $6.84[50] Acquisition and Assets - The company completed the acquisition of A. Zahner Company, contributing to growth in Architectural Specialties[4] - Total assets as of December 31, 2024, were $1.8427 billion, an increase from $1.6724 billion in 2023[31] Tax and Reporting - The effective tax rate for adjusted net earnings is estimated to be approximately 25%[52] - The company expects to file its annual report for the year ended December 31, 2024, with the SEC today, which will include a detailed discussion of performance and future outlook[23]

Financial Data and Key Metrics Changes - The company reported record-setting third quarter sales and strong earnings growth, with total sales and adjusted EBITDA each increasing by 11% year-over-year, and adjusted diluted earnings per share rising by 13% [9][27][33] - Adjusted EBITDA margin for the company remained consistent with the prior year, reflecting strong operational performance [27][33] Business Line Data and Key Metrics Changes - The Mineral Fiber segment saw net sales increase by 3%, driven by solid average unit value (AUV) performance, despite a modest decline in sales volumes [11][21] - The Architectural Specialty segment reported a 32% increase in net sales, significantly boosted by acquisitions of 3form and BOK Modern, with organic sales growth of 7% [14][24] Market Data and Key Metrics Changes - Market conditions for the Mineral Fiber segment remained mixed, with positive contributions from education, healthcare, and transportation sectors, while the office market showed signs of stabilization [18][76] - The company noted increased bidding activity for large transportation projects, particularly in the airport sector, which is expected to provide multi-year opportunities [16][18] Company Strategy and Development Direction - The company is focused on product innovation, particularly in energy-saving solutions like TEMPLOK ceilings, which address macro trends in energy efficiency and carbon emissions [38][42] - The company aims to leverage its strengths in design and specification to capture growth in emerging markets such as data centers [85][88] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a challenging market environment, with expectations for continued net sales and earnings growth in 2024 [37][46] - The company anticipates a potential tailwind from new construction activity in 2025, although renovation activity will depend on economic factors and interest rates [91][92] Other Important Information - The company announced a 10% increase in its quarterly dividend, marking the sixth consecutive annual increase since the inception of its dividend program [31][32] - The company repurchased $15 million of shares in the third quarter and has $677 million remaining under its existing share repurchase authorization [32] Q&A Session Summary Question: Thoughts on Mineral Fiber volume growth and trajectory - Management indicated that the market has stabilized, and there are building blocks in place to return to a 2% to 4% volume growth range, driven by new construction and renovation initiatives [49][51] Question: Opportunities for margin improvement - Management highlighted a multi-year history of productivity gains and a healthy pipeline of initiatives aimed at maintaining productivity improvements [54][55] Question: Input costs outlook for the fourth quarter and early next year - Input costs are expected to remain stable, with low single-digit deflation in freight and energy, while raw material costs may see modest inflation in 2025 [58][59] Question: Growth in Architectural Specialties and its drivers - Management noted that while large airport projects contribute to growth, there is broad-based activity across the portfolio supporting organic growth [60][62] Question: AUV expectations for the fourth quarter - Management expects AUV to accelerate in the fourth quarter, driven by improved channel mix and continued pricing execution [63] Question: Performance of Mineral Fiber in different markets - The company reported positive contributions from healthcare and education, while the office market remains soft but stabilizing [76] Question: Return on investments in growth initiatives - Management confirmed that investments in initiatives like Canopy and Project Works are yielding positive EBITDA and are expected to generate greater operating leverage going forward [70][72]

Q3 2024 Financial Performance - Net sales increased by 11% year-over-year (YoY) to $387 million[9] from $347 million[8] - Adjusted EBITDA increased by 11% YoY to $139 million[9] from $125 million[8] - Adjusted diluted earnings per share increased by 13% YoY to $1.81[9] from $1.60[8] - Adjusted EBITDA margin was 35.9%, similar to the prior year's 36.0%[8] Segment Performance - Mineral Fiber (MF) segment adjusted EBITDA increased by 8% YoY[10] - MF adjusted EBITDA margin expanded by 200 basis points to 43.9%[10], driven by strong Average Unit Value (AUV) and manufacturing productivity gains[10] - Architectural Specialties (AS) segment adjusted EBITDA increased by 27% YoY[10] - AS segment net sales increased by 32% YoY to $129 million[14] from $98 million[14] - Total AS adjusted EBITDA margin was 20.1%, including recent acquisitions[10] Full Year 2024 Guidance Update - Net sales are expected to be between $1,420 million and $1,435 million, representing a 9% to 11% YoY increase[22] - Adjusted EBITDA is expected to be between $482 million and $490 million, representing a 12% to 14% YoY increase[22] - Adjusted diluted EPS is expected to be between $6.15 and $6.25, representing a 16% to 17% YoY increase[22] - Adjusted free cash flow is expected to be between $290 million and $300 million, representing a 10% to 14% YoY increase[22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Securities registered pursuant to Section 12(b) of the Act: 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 September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Armstrong world Industries Exhibit 99.1 Armstrong World Industries Reports Third-Quarter 2024 Results • Record setting quarterly net sales of $387 million, an increase of 11% • Operating income increased 11% and diluted net earnings per share increased 12% • Adjusted EBITDA up 11% and adjusted diluted net earnings per share up 13% • Raising full-year 2024 guidance for adjusted EBITDA, adjusted diluted net earnings per share and adjusted free cash flow (Comparisons above are versus the prior-year period unle ...

Armstrong World Industries, Inc. (NYSE:AWI) Q2 2024 Earnings Conference Call July 30, 2024 10:00 AM ET Company Participants Theresa Womble - VP, IR and Corporate Communications Vic Grizzle - CEO Chris Calzaretta - CFO Conference Call Participants Susan Maklari - Goldman Sachs Keith Hughes - Truist Adam Baumgarten - Zelman & Associates Garik Shmois - Loop Capital Brian Biros - Thompson Research Group Philip Ng - Jefferies Rafe Jadrosich - Bank of America Stephen Kim - Evercore ISI Matt Johnson - UBS Operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 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 June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-2116 | --- | --- | --- | |---------------------------------------------------------------------------------------------------------- ...

Financial Performance - Net sales increased by 12.2% to $365.1 million in Q2 2024, driven by higher volumes of $27 million and favorable Average Unit Value (AUV) of $13 million[4]. - Operating income rose by 9.2% to $95.0 million, with a margin of 26.0%, impacted by a $17 million margin benefit from higher sales volumes[3][5]. - Adjusted EBITDA increased by 12.5% to $125 million, with an adjusted EBITDA margin of 34.3%[3][6]. - Architectural Specialties net sales surged by 25.7% to $114.9 million, primarily due to a $20 million contribution from acquisitions[8][9]. - Mineral Fiber net sales grew by 6.9% to $250.2 million, supported by $13 million of favorable AUV[6][7]. - Net sales for the three months ended June 30, 2024, were $365.1 million, a 12.2% increase from $325.4 million in the same period last year[20]. - Gross profit for the six months ended June 30, 2024, was $273.6 million, up 15.8% from $236.1 million in the prior year[20]. - Operating income for the three months ended June 30, 2024, increased to $95.0 million, compared to $87.0 million in the same period last year, reflecting a growth of 9.2%[21]. - Net earnings for the six months ended June 30, 2024, were $125.8 million, a 17.9% increase from $107.5 million in the same period last year[25]. - Diluted net earnings per share for the three months ended June 30, 2024, were $1.50, compared to $1.34 in the same period last year, representing a 11.9% increase[20]. Guidance and Projections - The company raised its full-year 2024 guidance, expecting net sales to reach between $1.415 billion and $1.440 billion, representing a growth of 9% to 11% year-over-year[14]. - Adjusted diluted net earnings per share are projected to be between $6.00 and $6.15, reflecting a growth of 13% to 16%[14]. - Adjusted EBITDA guidance for the year ending December 31, 2024, is projected to be between $474 million and $486 million[37]. - Adjusted diluted net earnings per share guidance for 2024 is estimated to be between $6.00 and $6.15, based on approximately 44 million diluted shares outstanding[38]. - Adjusted free cash flow is expected to range from $288 million to $300 million for the year ending December 31, 2024[39]. - Net cash provided by operating activities is projected to be between $171 million and $183 million for the year ending December 31, 2024[39]. - Adjusted operating income is forecasted to be between $374 million and $380 million[37]. - Adjusted net earnings are anticipated to be between $264 million and $269 million[38]. - Total capital expenditures are expected to be between $80 million and $90 million[39]. - The company expects to incur cash paid for acquisitions of $99 million for the year ending December 31, 2024[39]. - The company projects an income tax expense of approximately $85 million to $87 million for the year ending December 31, 2024[37]. - The company does not expect to make cash contributions to its RIP, which is reflected in the adjusted earnings calculations[38]. Cash Flow and Capital Management - Cash flows from operating activities decreased by $10 million year-to-date compared to the prior year, primarily due to unfavorable working capital changes[10]. - The company repurchased 0.1 million shares for a total cost of $10 million during Q2 2024, with $692 million remaining under the share repurchase program[11]. - Cash and cash equivalents at the end of the period were $73.6 million, down from $101.6 million at the end of the previous year, indicating a decrease of 27.5%[25]. - Consolidated adjusted free cash flow for the three months ended June 30, 2023, was $62 million, down from $73 million in the prior year[34]. - The company reported a net cash used for investing activities of $(87) million for the three months ended June 30, 2023, compared to $(5) million in the same period last year[34]. Asset and Liability Management - Total assets as of June 30, 2024, were $1,820.2 million, up from $1,672.4 million at the end of December 2023, indicating a growth of 8.8%[24]. - Current liabilities increased to $200.0 million as of June 30, 2024, compared to $194.5 million at the end of December 2023, reflecting a rise of 2.8%[24]. Segment Performance - Mineral Fiber net sales for the three months ended June 30, 2023, were $250 million, up from $234 million in the same period last year, representing a 6.8% increase[30]. - Adjusted operating income for Mineral Fiber was $85 million for the three months ended June 30, 2023, compared to $76 million in the prior year, reflecting a 12% increase[30]. - Adjusted EBITDA margin for Mineral Fiber improved to 41.7% for the three months ended June 30, 2023, compared to 40.4% in the same period last year[30]. - Architectural Specialties net sales for the three months ended June 30, 2023, were $115 million, an increase of 26.4% from $91 million in the prior year[32]. - Adjusted EBITDA for Architectural Specialties was $21 million for the three months ended June 30, 2023, compared to $17 million in the same period last year, marking a 23.5% increase[32]. Tax and Corporate Expenses - The effective tax rate for the three months ended June 30, 2023, was 24%, compared to 25% in the prior year[36]. - Unallocated corporate operating loss for the three months ended June 30, 2023, was $(1) million, unchanged from the prior year[33].

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 ...