Armstrong World Industries sales rise in Q2

Armstrong World Industries reported second quarter sales increased 14.6% to $321 million from second quarter 2021 sales of $280 million.

Second quarter mineral fiber sales increased 12.7% due to $234.5 million from sales of $208 million for the same period a year ago. Sales were driven by higher volumes and increased average unit volume.

Architectural specialties sales rose by 20.3% to $86.5 million for the quarter, driven by improved performance from recent acquisitions compared to the prior year, positive impacts from price increases, and an increase in custom project sales, Armstrong said.

Earnings from continued operations fell 5.3% to $52.2 million for the quarter as compared to earnings from continued operations of $55.1 million in the prior second quarter.

Armstrong’s operating income declined 8.6% to $71.6 million for the quarter from an operating income of $78.3 million in the second quarter of last year.

Based in Lancaster, Pa., Armstrong provides ceiling and wall system solutions. 

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The Bottom Line: Profits at Armstrong World Industries decline 5.3% for the second quarter as sales rise 14.6%.

What the CEO said: “Our top-line growth resulted from pricing performance and improved sales volumes for Mineral Fiber, paired with strong execution in our Architectural Specialties segment,” said Vic Grizzle, president and CEO of Armstrong World Industries. “While market-driven challenges remain, namely higher inflation and the lengthening of the commercial project completion cycle, we are optimistic about the second half of 2022. Our teams are squarely focused on executing our growth initiatives and delivering double-digit top- and bottom-line growth for the full year.”

Company info: Click here to read the full second quarter financial report from Armstrong World Industries.