March 29, 2017 11:44 AM ET

Building Products

Company Overview of Armstrong World Industries, Inc.

Company Overview

Armstrong World Industries, Inc. designs, manufactures, and sells ceiling systems for use primarily in the construction and renovation of residential, commercial, and institutional buildings worldwide. The company produces suspended fiber and metal ceiling systems, and complementary ceiling products, as well as acoustical ceiling, wall, and structural solutions; and sells suspension system products. It sells its commercial ceiling materials and accessories to resale distributors and ceiling system contractors; and residential ceiling products to wholesalers and retailers, including large home centers. The company was incorporated in 1891 and is headquartered in Lancaster, Pennsylvania.

2500 Columbia Avenue

Lancaster, PA 17603

United States

Founded in 1891

3,700 Employees

Phone:

717-397-0611

Key Executives for Armstrong World Industries, Inc.

Chief Executive Officer, President and Director
Age: 54
Total Annual Compensation: $496.6K
Chief Compliance Officer, Senior Vice President, General Counsel and Secretary
Age: 46
Total Annual Compensation: $443.9K
Compensation as of Fiscal Year 2015.

Armstrong World Industries, Inc. Key Developments

Armstrong World Industries, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017

Armstrong World Industries, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, net sales were $297.9 million against $297.3 million a year ago. Operating income was $40.3 million against $5.9 million a year ago. Earnings from continuing operations before income taxes was $34.5 million compared to loss $12.5 million a year ago. Earnings from continuing operations was $28.5 million or $0.51 per diluted share compared to loss $13.9 million or $0.25 per diluted share a year ago. Net earnings were $27.1 million or $0.49 per diluted share against net loss of $13.8 million or $0.25 per diluted share a year ago. Adjusted EBITDA was $66 million against $64 million a year ago. Adjusted operating income was $47 million against $45 million a year ago. Adjusted net income was $25 million or $0.45 per diluted share against $16 million or $0.29 per diluted share a year ago. For the year, net sales were $1,234.5 million against $1,231.3 million a year ago. Operating income was $184.6 million against $140.5 million a year ago. Earnings from continuing operations before income taxes were $144.3 million compared to $80.1 million a year ago. Earnings from continuing operations were $93.9 million or $0.19 per diluted share compared to $26.6 million or $1.21 per diluted share a year ago. Net earnings were $104.7 million or $1.87 per diluted share against $94.2 million or $1.68 per diluted share a year ago. Net cash from operations was $49.3 million against $203.7 million a year ago. Adjusted EBITDA was $315 million against $296 million a year ago. Adjusted operating income was $237 million against $218 million a year ago. The company expects 2017 full year sales to be in the $1.29 to $1.32 billion range, and adjusted EBITDA to be in the $350 to $360 million range, both up from 2016. 2017 adjusted EPS is expected to be $2.60 to $2.70 per diluted share, and free cash flow is anticipated to be between $130 and $145 million. The company expects a similar cash tax rate of 30% to 35%. CapEx spend will be around $100 million as invest in the Americas to enhance and expand the company's capabilities at the high end of the product range.

Armstrong World Industries Seeks Acquisitions

VIC GRIZZLE, Chief Executive Officer of Armstrong World Industries, Inc. (NYSE:AWI) said,"As part of our capital allocation plan, we also indicated that we would continue to look for tuck-in acquisitions that extend our product capabilities and can be sold through our best-in-class distribution partners."

Armstrong World Industries, Inc. to Report Q4, 2016 Results on Feb 27, 2017

Armstrong World Industries, Inc. announced that they will report Q4, 2016 results on Feb 27, 2017

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