Armstrong Q3 2024 Earnings Report
Key Takeaways
Armstrong World Industries reported record-setting net sales of $387 million for Q3 2024, an 11% increase year-over-year. Operating income also increased by 11%, and diluted net earnings per share rose by 12%. The company is raising its full-year 2024 guidance for adjusted EBITDA, adjusted diluted net earnings per share, and adjusted free cash flow.
Net sales reached a record $387 million, up 11% from the previous year.
Operating income increased by 11%, with diluted net earnings per share up by 12%.
Adjusted EBITDA increased by 11%, and adjusted diluted net earnings per share increased by 13%.
Full-year 2024 guidance was raised for adjusted EBITDA, adjusted diluted net earnings per share, and adjusted free cash flow.
Armstrong
Armstrong
Forward Guidance
The company is increasing its full-year 2024 guidance for adjusted EBITDA and adjusted diluted net earnings per share, as well as modestly increasing guidance for adjusted free cash flow, while tightening the range on our full-year sales outlook.
Positive Outlook
- Expanding adjusted EBITDA margin at the total company level
- Delivering a fourth consecutive year of net sales and earnings growth in 2024
- Strong balance sheet
- Demonstrated ability to generate cash
- Continue to execute capital allocation strategy to drive shareholder value