Armstrong World Industries Q3 2024 10-Q Filing

TL;DR

**Armstrong World Industries Q3 2024 10-Q filed. Financials and disclosures out.**

AI Summary

Armstrong World Industries Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and disclosures relevant to investors are included.

Why It Matters

This filing provides investors with the official financial results and disclosures for Armstrong World Industries for the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided snippet.

Key Players & Entities

• ARMSTRONG WORLD INDUSTRIES INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241029 (date) — Filing Date
• PA (location) — State of Incorporation
• LANCASTER (location) — Business Address City

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share AWI New York St

Filing Documents

• awi-20240930.htm (10-Q) — 2540KB
• awi-ex31_1.htm (EX-31.1) — 15KB
• awi-ex31_2.htm (EX-31.2) — 16KB
• awi-ex32_1.htm (EX-32.1) — 6KB
• awi-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-117930.txt ( ) — 11937KB
• awi-20240930.xsd (EX-101.SCH) — 1439KB
• awi-20240930_htm.xml (XML) — 2675KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 34

Signatures

Signatures 35 2 When we refer to "AWI," the "Company," "we," "our" or "us," we are referring to Armstrong World Industries, Inc. and its subsidiaries. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this Quarterly Report on Form 10-Q and the documents incorporated by reference herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, our expectations concerning our markets, broader economic conditions and their effect on our operating results; our expectations regarding the payment of dividends; and our ability to increase revenues, earnings and earnings before interest, taxes, depreciation and amortization. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "outlook," "target," "predict," "may," "will," "would," "could," "should," "seek," and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors that could have a material adverse effect on our financial condition, liquidity, results of operations or future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: Risks Related to Our Operations changes in key customer relationships; availability and costs of manufacturing inputs or sourced products; financia

- FINANC IAL INFORMATION

PART I - FINANC IAL INFORMATION

FINANC IAL STATEMENTS

ITEM 1. FINANC IAL STATEMENTS Armstrong World Industries, Inc., and Subsidiaries Condensed Consolidated Statements of Earnings and Comprehensive Income (amounts in millions, except per share data) Unaudited Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net sales $ 386.6 $ 347.3 $ 1,078.0 $ 982.9 Cost of goods sold 222.5 205.9 640.3 605.4 Gross profit 164.1 141.4 437.7 377.5 Selling, general and administrative expenses 77.6 64.6 223.1 189.2 Loss related to change in fair value of contingent consideration 0.2 - 0.6 - Impairment and gain on sales of fixed assets, net 0.2 - 0.3 - Equity (earnings) from unconsolidated affiliates, net ( 25.2 ) ( 23.4 ) ( 78.7 ) ( 69.1 ) Operating income 111.3 100.2 292.4 257.4 Interest expense 10.5 8.8 30.6 26.7 Other non-operating (income), net ( 3.0 ) ( 2.3 ) ( 9.3 ) ( 6.9 ) Earnings before income taxes 103.8 93.7 271.1 237.6 Income tax expense 26.9 24.2 68.4 60.6 Net earnings $ 76.9 $ 69.5 $ 202.7 $ 177.0 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments 0.3 ( 0.5 ) ( 0.9 ) 0.1 Derivative (loss), net ( 5.7 ) ( 1.9 ) ( 5.0 ) ( 4.3 ) Pension and postretirement adjustments ( 1.0 ) ( 0.2 ) ( 2.3 ) ( 0.1 ) Total other comprehensive (loss) ( 6.4 ) ( 2.6 ) ( 8.2 ) ( 4.3 ) Total comprehensive income $ 70.5 $ 66.9 $ 194.5 $ 172.7 Net earnings per share of common stock: Basic $ 1.76 $ 1.56 $ 4.63 $ 3.93 Diluted $ 1.75 $ 1.56 $ 4.61 $ 3.93 Average number of common shares outstanding: Basic 43.7 44.5 43.8 45.0 Diluted 43.9 44.6 44.0 45.0 See accompanying notes to Condensed Consolidated Financial Statements beginning on page 9. 5 Armstrong

View Full Filing

View this 10-Q filing on SEC EDGAR