AWI posts Q2 growth
Armstrong World Industries, the Lancaster, Pennsylvania-based maker of ceiling and wall solutions reported second-quarter net sales increased 12.2 percent.
Sales hit $365.1 million in the three months ended June 30, that compares to $325.4 million in the same quarter last year.
Net earnings increased 9.5 percent to $65.9 million.
President and CEO Vic Grizzle commented: “As market demand stabilizes, we also are continuing to see the benefits from our balanced set of end-markets and the consistent operational execution of our teams.”
Based on its second quarter performance Armstrong said it is increasing its guidance in key metrics for the coming year.
“We now expect operating conditions in the second half of the year to be similar to the first half,” said Chris Calzaretta, AWI Senior Vice President and CFO. “With this backdrop, we expect to expand Adjusted EBITDA margin at the total company level and we will continue our disciplined deployment of capital to create value for shareholders.”
Second-quarter 2024 Architectural Specialties net sales increased 25.7% from prior-year results, Mineral Fiber net sales increased 6.9% in the second quarter of 2024
With $1.3 billion in revenue in 2023, AWI has approximately 3,500 employees and a manufacturing network of 19 facilities.
