Armstrong Q1 sales hold steady

Ceiling, wall, and suspension systems manufacturer Armstrong World Industries reported consolidated net sales for the first quarter of 2021 increased 1.3% over the same period in 2020 due to a favorable average unit value of $5 million but was partially offset by lower volumes of $2 million.

Mineral fiber net sales decreased by $9 million and architectural specialties net sales increased by $12 million.

Volumes for the company’s mineral fiber and architectural specialties segments were pressured by lower market demand due to COVID-19 which began impacting the company’s sales activity in the second quarter of 2020, Armstrong reported. 

The declines were offset by a $17 million increase in net sales attributed to the acquisition of Turf Design, Moz Designs, and Arktura in 2020.

The Lancaster, Pa.-based company also reported net earnings for the quarter swung to $35.4 million compared to a net loss of $226.2 million for the same period a year ago.

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The Bottom Line: Profits surge ahead to $35.4 million in the first quarter despite lower sales volume.

What the CEO said: “The first quarter of 2021 was a solid start to what we expect will be a robust year of growth for AWI,” said Vic Grizzle, president and CEO of Armstrong. “We are encouraged by the re-openings in many of our markets and progress toward broader economic recovery, highlighted by the record order intake for our architectural specialties products in the first quarter.”

Company info: Armstrong World Industries’ full first quarter 2021 report can be read here.