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Sep 30, 2021
Armstrong Q3 2021 Earnings Report
Reported year-over-year sales and adjusted EBITDA growth, driven by strong price realization and the sales benefits of the 2020 acquisitions.
Key Takeaways
Armstrong World Industries reported an 18.6% increase in net sales and an 8% increase in adjusted EBITDA for the third quarter of 2021. The company's ability to manage inflationary and supply chain challenges helped offset uneven market conditions.
Net sales increased by 19% compared to the prior-year quarter.
Operating income remained flat compared to the prior-year quarter.
Adjusted EBITDA increased by 8% compared to the prior-year quarter.
The midpoints of the 2021 guidance were reaffirmed.
Armstrong
Armstrong
Forward Guidance
The company narrowed its full year guidance and is maintaining its prior mid-point guidance. They now expect increased net sales of 17% to 18% and adjusted EBITDA of 13% to 15% versus the prior year.
Positive Outlook
- Expect increased net sales of 17% to 18% versus the prior year.
- Expect adjusted EBITDA of 13% to 15% versus the prior year.