AWI · Armstrong World Industries, Inc. Q2 FY2026 earnings call record财报电话会记录

“On a total company basis, net sales increased 11% and adjusted EBITDA increased 8% versus the prior year, while adjusted diluted earnings per share increased 13%.”

“Looking first at Mineral Fiber results, we posted an 8% increase in net sales, driven by AUV growth of 6% and volume growth of 2%.”

“Particularly as demand for skilled installation labor remains constrained and project timelines remain compressed, ProjectWorks directly addresses the efficiency and accuracy needs of our customers.”

“With a broader solution set for data centers, we are positioned to more effectively serve demand from hyperscalers, co-locators, and enterprise customers.”

“Mineral Fiber net sales increased 8% in the quarter, driven primarily by favorable AUV of 6% and an increase in volumes.”

“Partially offsetting these benefits was a $4 million increase in SG&A expenses, of which approximately half were driven by our recent acquisitions, as well as a $2 million increase in manufacturing costs, inclusive of a $2 million benefit from IEEPA tariff refunds.”

“In the second quarter, we paid $15 million of dividends to our shareholders and repurchased $75 million of shares, bringing our year-to-date dividends paid to $30 million and our year-to-date share repurchases to $135 million.”

“We are also increasing the midpoint of our total company adjusted EBITDA guidance and now expect growth of 9%-12% for the full year, up from our prior guide of 8%-12%.”

“Additionally, we are increasing our guidance for adjusted diluted net earnings per share growth to a range of 12%-15%, up from our prior guide of 10%-14%.”

“We are also increasing our guidance for adjusted free cash flow growth to a range of 10%-14%, up from 9%-14%.”

“Looking forward to the second half of the year, we're hearing on-the-ground commentary from our customers regarding bidding activity and demand trends that's consistent with what we heard in the first quarter.”

“We saw the impact of higher steel flowing through the P&L, which pressured margins ahead of our announced August pricing actions, along with the ramp-up of some of the data center initiatives there that Mark mentioned.”