Armstrong World Industries, Inc. - AWI STOCK NEWS

Armstrong World Industries, Inc. (NYSE: AWI) has acquired BŌK Modern, LLC, a pioneer in integrated architectural metal systems. This acquisition will add new design capabilities to AWI's metal category, focusing on innovating to deliver customers' design intent with greater efficiency. BŌK's patented designs reduce project costs and their portfolio includes standard products and custom solutions such as façades and screens for interior and exterior partitions.

Armstrong World Industries, Inc. (NYSE:AWI) released its third annual sustainability report, highlighting 2022 progress towards its 2030 sustainability targets. Key achievements include a 13% reduction in carbon footprint, increase in renewable electricity use to 13% of total usage, and over 100% increase in community organizations supported by its employee giving match program. The report, 'Building A Healthy Tomorrow,' also showcases initiatives such as the development of an energy-saving ceiling system for data centers.

Armstrong World Industries (NYSE:AWI) has announced an additional $500 million authorization to repurchase shares under its existing share repurchase program, bringing the total authorized amount to $1.7 billion. The program has been extended through December 31, 2026. The company has also declared a cash dividend of $0.254 per share of common stock, payable on August 17, 2023. The decision reflects the company's confidence in generating adjusted free cash flow and its commitment to creating long-term shareholder value.

Armstrong World Industries (NYSE:AWI) reported its first-quarter 2023 results, showing a 10% increase in net sales to $310.2 million compared to the previous year. Operating income rose 11% to $70.2 million, with diluted net earnings per share up 11% to $1.04. The growth was primarily driven by a 12% rise in Mineral Fiber segment sales and a 3% increase in Architectural Specialties. The company's adjusted EBITDA reached $96 million, up 9% year-over-year. Cash flow from operating and investing activities saw a significant increase of 46%. Despite the positive results, the company anticipates weaker market conditions ahead for 2023. The outlook for the year remains steady, with net sales guidance between $1.26 billion and $1.31 billion, reflecting a 2% to 6% increase.

Armstrong World Industries (AWI) has declared a cash dividend of $0.254 per share, scheduled for payment on May 18, 2023, to shareholders of record by the close of business on May 4, 2023. This decision reflects the company's ongoing commitment to returning value to its investors. Future dividends will depend on the company's financial health, operational results, and cash flow, as determined by its Board of Directors. In 2022, AWI reported $1.2 billion in revenue, underlining its position as a leader in the ceiling and wall solutions industry, employing approximately 3,000 people across 16 manufacturing facilities.

Armstrong World Industries, Inc. (NYSE:AWI) will release its first-quarter 2023 earnings results before the market opens on April 25, 2023. A conference call to discuss the results is scheduled for 10:00 a.m. ET on the same day. Investors and interested parties can access a live webcast of the call on the Investor Relations page of Armstrong's website. Those wishing to participate via telephone must register beforehand to receive dial-in information and a unique PIN. Armstrong is known for its ceiling and wall solutions, generating $1.2 billion in revenue in 2022 and operating with approximately 3,000 employees across 16 manufacturing facilities in the Americas.