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May 06, 2015 3:38 AM ET

Building Products

Company Overview of Armstrong World Industries, Inc.

Company Overview

Armstrong World Industries, Inc. designs, manufactures, and sells flooring products and ceiling systems worldwide. The company’s Building Products segment produces suspended mineral fibers, soft fibers, and metal ceiling systems for use in commercial, institutional, and residential settings, as well as complementary ceiling products; and sells suspension system products. This segment 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. Its Resilient Flooring segment manufactures vinyl sheet and tile flooring, as well as sources and sells lamina...

2500 Columbia Avenue

PO Box 3001

Lancaster, PA 17603

United States

Founded in 1891

7,500 Employees

Phone:

717-397-0611

Key Executives for Armstrong World Industries, Inc.

Chief Executive Officer, President and Director
Age: 55
Total Annual Compensation: $1.0M
Chief Financial Officer and Senior Vice President
Age: 48
Total Annual Compensation: $435.4K
Executive Vice President and Chief Executive Officer of Armstrong Building Products
Age: 52
Total Annual Compensation: $479.8K
Chief Executive Officer of Armstrong Flooring Products
Age: 50
Total Annual Compensation: $497.2K
General Counsel and Chief Compliance Officer
Age: 44
Total Annual Compensation: $429.5K
Compensation as of Fiscal Year 2014.

Armstrong World Industries, Inc. Key Developments

Armstrong World Industries, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revises Earnings Guidance for the Year 2015

Armstrong World Industries, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $551.4 million compared to $590 million a year ago. Operating income was $35.8 million compared to $53.8 million a year ago. Net income was $3.8 million or $0.07 per diluted share compared to $18.1 million or $0.33 per diluted share a year ago. Excluding the unfavorable impact from foreign exchange of $20 million, net sales decreased 3.3% compared to the prior year period driven by lower volumes across all businesses which more than offset the impact from favorable price and mix. The decline in operating income and net income compared to the prior year period was impacted by higher non-cash U.S. Pension expense and separation costs related to the previously announced spin-off of the Flooring business. The declines in operating income and net income were also driven by the margin impact of lower volumes, increased SG&A expense and lower earnings from WAVE, which were only partially offset by favorable price and mix. The decline in net income was also impacted by state net operating loss write-offs as a result of a change in ownership under section 382 of the Internal Revenue Code in conjunction with the sale of stock by the Asbestos Trust in the first quarter of 2015. Adjusted EBITDA was $75 million compared to $83 million a year ago. Earnings before taxes, adjusted was $34 million compared to $39 million a year ago. Net earnings, adjusted were $21 million or $0.37 per share compared to $24 million or $0.43 per share a year ago. Free cash flow for the quarter was a use of $42 million, improved from last year by $14 million. Net debt was down $74 million driven by debt repayments. For the year 2105, EPS guidance is lowered by $0.05 as a result of the $3 million IRC Section 382 expense. The ranges for sales and EBITDA for the full year are unchanged from the initial guidance issued.

Armstrong World Industries, Inc. to Report Q1, 2015 Results on Apr 30, 2015

Armstrong World Industries, Inc. announced that they will report Q1, 2015 results at 10:00 AM, US Eastern Standard Time on Apr 30, 2015

Armstrong World Industries, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Armstrong World Industries, Inc., Q1 2015 Earnings Call, Apr 30, 2015

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Recent Private Companies Transactions

Type
Date
Target
Spin-Off/Split-Off
February 19, 2015
Armstrong World Industries, Inc., Flooring Business
 

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