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Mar 31, 2024
Armstrong Q1 2024 Earnings Report
Armstrong's Q1 2024 financial performance was marked by record-setting results, driven by sales growth and operational efficiency.
Key Takeaways
Armstrong World Industries reported record first-quarter 2024 results with a 5% increase in net sales and significant growth in operating income and adjusted EBITDA. The company has raised its full-year 2024 guidance, expecting continued sales and earnings growth.
Net sales increased by 5% year-over-year, with growth in both Mineral Fiber and Architectural Specialties segments.
Operating income rose by 23% compared to the prior-year period.
Adjusted EBITDA increased by 16% year-over-year.
The company announced the acquisition of 3form, LLC to expand its Architectural Specialties portfolio.
Armstrong
Armstrong
Armstrong Revenue by Segment
Revenue by Segment
Mineral Fiber Revenue
CapyFin.comArchitectural Specialties Revenue
CapyFin.com Forward Guidance
Armstrong World Industries raised its full-year 2024 guidance, anticipating profitable growth and adjusted EBITDA margin expansion despite macroeconomic uncertainty.
Positive Outlook
- Net sales are projected to increase by 8% to 11%.
- Adjusted EBITDA is expected to grow by 8% to 13%.
- Adjusted diluted net earnings per share are anticipated to increase by 9% to 14%.
- Adjusted free cash flow is forecasted to rise by 8% to 14%.
- The acquisition of 3form is expected to contribute to growth.
Challenges Ahead
- Lingering macroeconomic uncertainty in the back-half of the year.
- Potential impacts from market conditions.
- Uncertainties related to broader economic conditions.
- Risks associated with forward-looking statements.
- Factors that could cause actual results to differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income