July 23, 2016 1:19 PM 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 for use primarily in the construction and renovation of residential, commercial, and institutional buildings 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. I...

2500 Columbia Avenue

PO Box 3001

Lancaster, PA 17603

United States

Founded in 1891

7,700 Employees



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. - Shareholder/Analyst Call


Armstrong World Industries, Inc. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Year 2016

Armstrong World Industries, Inc. reported consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net sales of $571.8 million compared to $551.4 million a year ago. Operating income was $18.3 million compared to $35.8 million a year ago. Net loss from continuing operations was $11.6 million or $0.21 per diluted share compared to net income of $3.8 million or $0.07 per diluted share a year ago. Net loss was $9.9 million compared to net earnings of $46.6 million a year ago. Adjusted operating income was $51 million against $44 million a year ago. Adjusted net income was $26 million against $20 million a year ago. Adjusted diluted earnings per share was $0.47 against $0.35 per share a year ago. Negative free cash flow was $75 million against $42 million a year ago. Consolidated adjusted EBITDA was $81 million against $72 million a year ago. Net cash used for operating activities was $65.0 million against $34.1 million a year ago. Excluding the unfavorable impact from foreign exchange of $11 million, consolidated net sales increased 5.8% compared to the prior year period driven primarily by higher volumes in the Americas across both the ceilings and flooring businesses, partially offset by lower average sales dollars per unit sold, or average unit value. The decline in operating income and net income compared to the prior year period was impacted by higher separation costs, lower AUV, and higher SG&A expenses and manufacturing costs due to an increase in administrative expenses in preparation of the separation. Operating income and net income benefited from the margin impact of higher volumes, lower input costs and higher earnings from the WAVE JV. Net debt was down $75 million, driven by debt repayments over the last 12 months. For the year 2016, The company expects to deliver revenue growth of 3% to 7% and adjusted EBITDA of $310 million to $330 million. The company continue to expect adjusted free cash flow in the range of $80 million to $100 million. The cash impact of separation is expected to range from $50 million to $60 million. The company expects interest expense to be in the range of $30 million to $35 million, excluding the $11 million charge that the company reported in the first quarter related to the settlement of interest rate swaps incurred in connection with the refinancing of new $1 billion credit facility.

Armstrong World Industries, Inc., Annual General Meeting, Jul 08, 2016

Armstrong World Industries, Inc., Annual General Meeting, Jul 08, 2016, at 08:00 US Eastern Standard Time. Location: 2500 Columbia Avenue Lancaster, PA 17603 United States Agenda: To elect as directors; to ratify the selection of KPMG LLP as independent registered public accounting firm for 2016; to approve the company's 2016 directors’ stock unit plan; and to approve the company's 2016 long-term incentive plan.

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