Record-Setting Financial Performance
Armstrong World Industries reported record-setting fourth quarter and full year 2024 results with net sales increasing nearly 12%, adjusted EBITDA growing 13%, and adjusted diluted earnings per share up 19%.
Acquisition-Driven Growth in Architectural Specialties
The Architectural Specialties segment saw net sales growth of 27% and adjusted EBITDA growth of 24%, driven by acquisitions of 3Form and Zaynor. Organic sales in this segment also grew by 15% year-over-year.
Strong Performance in Mineral Fiber Segment
Mineral Fiber segment achieved 9% AUV growth, driven by mix and pricing, with adjusted EBITDA growing by 10% and margins expanding by 70 basis points to 37.5%.
Temploc Energy-Saving Technology
Introduction of Temploc ceiling tiles, which can reduce heating and cooling costs, may qualify for an investment tax credit of up to 50% under new IRS regulations.
Positive Outlook for 2025
Guidance for 2025 includes net sales growth of 9% to 11% and adjusted EBITDA growth of 8% to 12%, with continued progress expected in the architectural specialties and mineral fiber segments.