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Mar 31, 2022
Armstrong Q1 2022 Earnings Report
Armstrong's Q1 2022 performance was driven by price over inflation gains and strong growth in the Architectural Specialties segment, offsetting lower Mineral Fiber sales volumes.
Key Takeaways
Armstrong World Industries reported a 12% increase in net sales and a 17% increase in operating income for the first quarter of 2022. The growth was primarily driven by price over inflation gains and strong performance in the Architectural Specialties segment, which was partially offset by lower Mineral Fiber sales volumes and equity earnings.
Net sales increased by 12% compared to the prior-year quarter.
Operating income rose by 17% and diluted earnings per share from continuing operations increased by 21% compared to the prior-year quarter.
Adjusted EBITDA increased by 3% and adjusted diluted earnings per share grew by 7% compared to the prior-year quarter.
The company is maintaining its 2022 guidance for net sales, adjusted EBITDA, and adjusted Free Cash Flow.
Armstrong
Armstrong
Armstrong Revenue by Segment
Revenue by Segment
Mineral Fiber Revenue
CapyFin.comArchitectural Specialties Revenue
CapyFin.com Forward Guidance
Armstrong World Industries is maintaining its full year guidance of net sales growth of 10% to 13% and adjusted EBITDA growth of 10% to 16% versus the prior year.
Positive Outlook
- Net sales growth of 10% to 13%
- Adjusted EBITDA growth of 10% to 16%
- Adjusted diluted earnings per share of $5.00 to $5.20
- Adjusted free cash flow of $215 to $235 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income