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Jun 30, 2021
Armstrong Q2 2021 Earnings Report
Reported strong year-over-year sales and earnings growth due to market conditions rebounding from the impact of COVID-19.
Key Takeaways
Armstrong World Industries reported a 38% increase in net sales and a 44% increase in adjusted EBITDA compared to the prior-year quarter, driven by a continued recovery in key markets from COVID-19 challenges.
Net sales increased by 38% compared to the prior-year quarter.
Operating income rose by 26% compared to the prior-year quarter.
Adjusted EBITDA increased by 44% compared to the prior-year quarter.
Full-year 2021 sales and earnings guidance were increased.
Armstrong
Armstrong
Forward Guidance
The company expects to grow net sales 16% to 18% and adjusted EBITDA 12% to 15% versus the prior year.
Positive Outlook
- Improving market conditions
- Expect to exit the year on a sales rate per day basis comparable to 2019
- Robust project pipeline
- Additional clarity around the current marketplace
- Team’s solid execution through the first half of the year
Challenges Ahead
- Impacts and evolution of the pandemic
- Management of inflationary pressures
- Adjusting pricing accordingly
- Monitoring COVID-19 variants
- Potential impact to business