Latest news with #AWI
National Post
6 days ago
- Business
- National Post
Recognition in Recession: 15-Point Yearly Drop in Recognition Fuels Increasing Workforce Disengagement
Article content Achievers Workforce Institute's annual State of Recognition Report reveals a decline in regular workplace recognition that is fueling employee disengagement, eroding trust, and hurting productivity, and offers insights on how organizations can turn the tide Article content TORONTO — Employee recognition is in sharp decline compared to last year, adversely impacting employee performance, according to Achievers' 2025 State of Recognition report from Achievers Workforce Institute (AWI). AWI is the research and insights arm of Achievers, the world's most utilized recognition and reward software. The significant decline has initiated a ripple effect across key workplace metrics, including employee engagement, trust, and productivity. Article content AWI's annual State of Recognition Report – now in its fifth iteration and the leading analysis of recognition behavior and impact – analyzes the experiences of 3,600 employees across the world. This year's study uncovered widespread erosion of recognition frequency, consistency, and perceived value. Article content The data is clear: when recognition drops, performance follows. Ninety percent (90%) of employees say recognition would boost their productivity, and 91% say they'd put in more effort if they felt their contributions were valued. Yet, AWI's latest report reveals a stark contrast between aspirations and reality: only 23% of employees feel meaningfully recognized at work, and over half are recognized just a few times a year or less. With only 26% of employees reporting that they feel engaged at work and just 23% describing themselves as enthusiastic about their jobs, under-recognition is a key driver of the $438 billion global disengagement crisis. Article content While the workplace struggles to find solid ground as it navigates never-ending uncertainty, recognition remains one of the most effective but underutilized levers for engagement and performance. The good news? Recognition hasn't become entirely obsolete, but it's coming later, less often, and with less impact. Article content Weekly recognition may have dropped significantly, but quarterly recognition has more than doubled in the last year. This indicates that employees want to recognize others but may simply lack the tools or time to do so with consistency. Article content However, there's a direct link between recognition frequency and employee effectiveness. Employees who receive meaningful weekly recognition are 9 times more likely to feel a strong sense of belonging, 6 times more likely to see a long-term career at their company, and 2.6 times more likely to be their most productive selves. These numbers tell us that the more recognition the global workforce receives, the more global businesses stand to save on costly turnover and disengagement, which together amount to trillions in lost productivity each year. Article content Manager Recognition Rewrites the 'Toxiboss' Playbook Article content Manager recognition is the most effective way to ensure employees feel valued, and thereby more apt to put in extra effort. The most effective managers make recognition a daily priority, and they do it because their organizations foster a recognition-centric culture on a daily basis. Article content When employees feel recognized by their managers, they're up to 19 times more likely to trust them, 16.5 times more likely to recommend their company as a great place to work, and 2–3 times more likely to feel engaged, productive, and connected. Yet only 15% of employees say their manager regularly recognizes them – a drop from 20% last year – and a disheartening figure that has led to a decrease in the percentage of people who are engaged, productive, committed, and feel warmly welcomed at their company. This finding means that most managers fall under the 'toxiboss' archetype; those who expect great work from their employees but aren't taking the meaningful steps themselves to show their workers that their work is appreciated and critical to their company's mission. Article content 'The data reaffirms a truth many of us have known for years, you can't be a great manager if you don't express gratitude,' said David Bator, Managing Director of AWI. 'When managers give frequent, meaningful recognition to their teams, their workers are more likely to bring their whole selves to work. Unfortunately, most managers don't do this and would be shocked to be called 'toxic' as a result. It's not that these leaders don't cherish their people; they simply may not understand the science-backed power of recognition. Therefore, they prioritize other items on their endless to-do lists, when in fact, recognition is the single most effective tool for building high-performing teams.' Article content Recognition is a Lifeline in Today's Crisis of Connection Article content The workplace is not an easy place to be right now, as layoffs, fluctuating economic conditions, and the ushering in of AI have combined to result in a widespread case of the workplace blues defined by disconnection, loneliness, and disengagement. In many cases, people work more closely with AI rather than their coworkers, leaving a widening connection gap in dire need of being filled by something as simple as friendship. However, when employees are regularly and meaningfully recognized by their peers, they are 33% more likely to feel a strong sense of belonging at their workplace, and 37% more likely to see a long career at their company. These numbers underscore the notion that peer recognition is critical to fostering a widespread sense of belonging. Article content 'In today's workplace, we're technologizing humans and humanizing technology, but we're missing the opportunity to humanize humans,' said Hannah Yardley, Chief People and Culture Officer at Achievers. 'With the right strategy, tools, and culture in place, companies can use recognition to close today's connection gap, unlocking the full potential of their business and their people.' Article content As organizations fight to retain top talent and build a resilient company culture in today's volatile workplace, the message is clear: connection is the cure to disconnection, and recognition isn't an optional feel-good gesture, but an essential cultural anchor. Article content . Article content Article content Article content Article content
DW
04-08-2025
- Science
- DW
Scientists search for climate clues in ancient ice – DW – 08/04/2025
Scientists drilled thousands of meters into the Antarctic ice sheet to retrieve the world's oldest ice sample. They hope it could provide insight into today's climate crisis. Scientists in Germany are studying a 1.2-million-year-old ice core retrieved from Antarctica after years of planning and months of drilling in temperatures of -35 degrees Celsius (-31 Fahrenheit). International teams reached depths of 2,800 meters (1.74 miles) into the Antarctic ice sheet to claim the oldest continuous ice core to have ever been drilled. The scientists are now hoping it will unlock vital information about the Earth's climate. "Ice cores are climate archives, so they tell us something about the climate history of the Earth," said Maria Hörhold, glaciologist at the Alfred Wegener Institute (AWI), where one of the samples is being studied. The core contains air bubbles allowing scientists to measure the quantities of greenhouse gases, like CO2, held in the atmosphere over the last 1.2 million years. They hope the ice core could help scientists better understand climate change by shedding more light on the connection between the carbon cycle and the temperatures on the planet. In past ice core samples, researchers were able to see alternating hot periods with cold, or glacial periods, that took place approximately every 100,000 years. But looking further back, the cold temperatures occurred more frequently — around every 40,000 years. "This is mainly driven, for example, by planetary features, like how the Earth is positioned towards the Sun," Hörhold told DW. "But people do not really know why we shifted from a 40,000-year cycle at say 1.5 million years ago to what we have today." By extending the 800,000-year-old ice core record and figuring out why the cycle changed, researchers hope to "improve predictions of how Earth's climate may respond to future greenhouse gas increases," said Liz Thomas of the British Antarctic Survey. "There is no other place on Earth that retains such a long record of the past atmosphere as Antarctica," added Thomas in a statement. "It's our best hope to understand the fundamental drivers of Earth's climate shifts." Scientists already know that concentrations of greenhouse gases, like CO2, were lower during colder periods on Earth. While during warmer times, a build-up of greenhouse gases in the atmosphere prevented heat from escaping. "The idea is that you understand how the climate internally interacts, so how do atmospheric patterns interact, how does ice sheet elevation interact with sea level, and so on," she told DW, adding that studying the ice core would hopefully improve their understanding of those interactions. However, she added that even during previous warm periods in Earth's history, CO2 concentrations were much lower than they are today. The current high levels are primarily the result of human-driven global warming, caused by the burning of fossil fuels like oil and gas. The pan-European ice core study is part of the Beyond EPICA – Oldest Ice project. The ice sample has been cut into one-meter length pieces. These have now been delivered for processing into smaller sub-samples at organizations including AWI polar and marine institute in Bremerhaven, Germany, and the British Antarctic Survey in Cambridge, UK. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video But Hörhold said it will take at least a year for the first findings to be published, while other discoveries would likely take longer. Still, for scientists like Hörhold, who have been part of the Oldest Ice project for years, the retrieval of the ice core is an exciting new chance to discover more about the Earth. "For every one of us, this was very special; to have that ice in our hands and to know that this is really old and an unprecedented ice core record," said Hörhold. "It's a real honor for us to be responsible for processing here."
Business Wire
29-07-2025
- Business
- Business Wire
Armstrong World Industries Reports Record Second-Quarter 2025 Sales and Earnings
LANCASTER, Pa.--(BUSINESS WIRE)--Armstrong World Industries, Inc. (NYSE:AWI), an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions, today reported second-quarter 2025 financial results highlighted by strong net sales and earnings growth with operating and adjusted EBITDA margin expansion in both the Mineral Fiber and Architectural Specialties segments compared to the prior year. 'With strong performance across our enterprise, we delivered robust top and bottom-line growth with margin expansion in both our Mineral Fiber and Architectural Specialties segments,' said AWI President and CEO, Vic Grizzle. 'These record-setting results continue to demonstrate the resilience of our business model and strong execution on our growth initiatives including our acquisitions, innovation and digital tools. While macro-economic uncertainty persists, we are confident in our ability to navigate these challenges and continue generating profitable growth through strong commercial and operational execution.' * The Company uses non-GAAP adjusted measures in managing the business and believes the adjustments provide meaningful comparisons of operating performance between periods and are useful alternative measures of performance. Reconciliations of the most comparable generally accepted accounting principles in the United States ("GAAP") measure are found in the tables at the end of this press release. Excluding per share data, non-GAAP figures are rounded to the nearest million and corresponding percentages are based on unrounded figures. Expand Consolidated net sales for the second quarter of 2025 increased 16.3% over the prior-year period due to higher volumes of $46 million and favorable Average Unit Value (dollars per unit sold, or "AUV") of $14 million. Architectural Specialties net sales increased $43 million and Mineral Fiber net sales increased $17 million from the prior-year period. Architectural Specialties segment net sales improved primarily due to a $28 million contribution from the 2024 acquisitions of 3form, LLC ("3form") and A. Zahner Company ("Zahner") and increased organic net sales driven by strengthening broad-based penetration throughout our specialty product categories. The increase in Mineral Fiber net sales was primarily driven by favorable AUV and modestly improved sales volumes. Consolidated operating income increased 29.7% in the second quarter of 2025 primarily due to a $25 million benefit from sales volume growth, an $8 million margin benefit from favorable AUV and a $6 million increase in equity earnings from the Worthington Armstrong Joint Venture ("WAVE"). These benefits were partially offset by a $6 million increase in manufacturing costs and a $4 million increase in selling, general and administrative ('SG&A') expenses. Increased sales volumes and higher operating costs were driven primarily by the acquisitions of 3form and Zahner, which contributed $28 million to the increase in net sales and $5 million to the increase in operating income in the second quarter of 2025 compared to the prior-year period. Mineral Fiber net sales increased 6.7% in the second quarter of 2025 compared to the prior-year quarter due to $14 million of favorable AUV and $3 million of higher sales volumes, both of which were primarily driven by strong commercial execution and benefits from growth initiatives. The improvement in AUV was driven by both favorable like-for-like price and favorable mix. Mineral Fiber operating income increased 20.4% year-over-year primarily due to an $8 million benefit from favorable AUV, a $6 million increase in WAVE equity earnings and a $4 million decrease in SG&A expenses. Architectural Specialties net sales increased $43 million in the second quarter of 2025, driven primarily by a $28 million increase from the 2024 acquisitions of 3form and Zahner, in addition to increased organic net sales driven by strengthening broad-based penetration throughout our specialty product categories. Architectural Specialties operating income increased 80.3% in the second quarter of 2025, driven by operating leverage and improved custom project margins on strong organic growth, in addition to contributions from the acquisitions of 3form and Zahner. The benefit from higher net sales was partially offset by a $4 million increase in manufacturing costs and a $7 million increase in SG&A expenses, both of which were primarily attributable to the 2024 acquisitions. Unallocated Corporate Unallocated Corporate operating loss was $1 million in the second quarter of 2025 and 2024. Cash Flow Year-to-date cash flows from operating activities in 2025 increased $39 million or 46% in comparison to the prior-year period. The favorable change in operating cash flows was primarily driven by higher cash earnings and an increase in income taxes payable, partially offset by unfavorable timing-related working capital changes. Year-to-date cash flows from investing activities increased $95 million versus the prior-year period, primarily due to cash paid in 2024 for the 3form acquisition. Share Repurchase Program During the second quarter of 2025, we repurchased 0.2 million shares of common stock for a total cost of $30 million, excluding the cost of commissions and taxes. As of June 30, 2025, there was $610 million remaining under the Board of Directors' current authorized share repurchase program**. ** In July 2016, our Board of Directors approved our share repurchase program authorizing us to repurchase outstanding shares of common stock (the 'Program'). Since inception of the Program, we have been authorized to repurchase up to an aggregate of $1,700 million of our outstanding shares of common stock through December 2026. Since inception and through June 30, 2025, we have repurchased 15.0 million shares under the Program for a total cost of $1,090 million, excluding commissions and taxes, or an average share price of $72.67 per share. Expand Updating 2025 Outlook 'We delivered strong profitability in the second quarter, highlighted by robust adjusted EBITDA margin expansion in both segments. Given these strong first half results, we are increasing our guidance for all key metrics,' said Chris Calzaretta, AWI Senior Vice President and CFO. 'Given continued uncertainty in the macroeconomic backdrop, we remain focused on disciplined cost control and capital allocation. As a result of these efforts, we are well-positioned to deliver strong results for the remainder of the year as we continue to demonstrate the resilience of our business model and create value for our shareholders." Earnings Webcast Management will host a live webcast conference call at 10:00 a.m. ET today, to discuss second-quarter 2025 results. This event will be available on the Company's website. The call and accompanying slide presentation can be found on the investor relations section of the Company's website at The replay of this event will be available on the website for up to one year after the date of the call. Uncertainties Affecting Forward-Looking Statements Disclosures in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, those relating to future financial and operational results, market and broader economic conditions and guidance. Those statements provide our future expectations or forecasts and can be identified by our use of words such as 'anticipate,' 'estimate,' 'expect,' 'project,' 'intend,' 'plan,' 'believe,' 'outlook,' 'target,' 'predict,' 'may,' 'will,' 'would,' 'could,' 'should,' 'seek,' and other words or phrases of similar meaning in connection with any discussion of future operating or financial performance. This includes annual guidance. Forward-looking statements, by their nature, address matters that are uncertain and involve risks because they relate to events and depend on circumstances that may or may not occur in the future. As a result, our actual results may differ materially from our expected results and from those expressed in our forward-looking statements. A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated or implied is included in the 'Risk Factors' and 'Management's Discussion and Analysis' sections of our reports on Form 10-K and Form 10-Q filed with the U.S. Securities and Exchange Commission ('SEC'), including our quarterly report for the quarter ended June 30, 2025, that the Company expects to file today. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update any forward-looking statements beyond what is required under applicable securities law. About Armstrong and Additional Information Armstrong World Industries, Inc. (AWI) is an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions. For more than 160 years, Armstrong has delivered products and capabilities that enable architects, designers and contractors to transform building design and construction with elevated aesthetics, acoustics and sustainable attributes. With $1.4 billion in revenue in 2024, AWI has approximately 3,700 employees and a manufacturing network of 20 facilities, plus seven facilities dedicated to its WAVE joint venture. More details on the Company's performance can be found in its report on Form 10-Q for the quarter ended June 30, 2025, that the Company expects to file with the SEC today. SEGMENT RESULTS Armstrong World Industries, Inc. and Subsidiaries (Unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Net Sales Mineral Fiber $ 267.0 $ 250.2 $ 512.1 $ 489.8 Architectural Specialties 157.6 114.9 295.2 201.6 Total net sales $ 424.6 $ 365.1 $ 807.3 $ 691.4 Expand For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Segment operating income (loss) Mineral Fiber $ 98.4 $ 81.7 $ 182.9 $ 160.9 Architectural Specialties 25.6 14.2 40.4 21.9 Unallocated Corporate (0.8 ) (0.9 ) (1.6 ) (1.7 ) Total consolidated operating income $ 123.2 $ 95.0 $ 221.7 $ 181.1 Expand SELECTED BALANCE SHEET INFORMATION Armstrong World Industries, Inc. and Subsidiaries Unaudited December 31, 2024 Assets Current assets $ 375.6 $ 348.9 Property, plant and equipment, net 595.1 598.8 Other non-current assets 891.3 895.0 Total assets $ 1,862.0 $ 1,842.7 Liabilities and shareholders' equity Current liabilities $ 232.9 $ 249.7 Non-current liabilities 791.3 835.9 Shareholders' equity 837.8 757.1 Total liabilities and shareholders' equity $ 1,862.0 $ 1,842.7 Expand SELECTED CASH FLOW INFORMATION Armstrong World Industries, Inc. and Subsidiaries (Unaudited) For the Six Months Ended June 30, 2025 2024 Net earnings $ 156.9 $ 125.8 Other adjustments to reconcile net earnings to net cash provided by operating activities 8.7 3.6 Changes in operating assets and liabilities, net (43.0 ) (45.7 ) Net cash provided by operating activities 122.6 83.7 Net cash provided by (used for) investing activities 13.2 (81.4 ) Net cash (used for) provided by financing activities (134.7 ) 1.1 Effect of exchange rate changes on cash and cash equivalents 0.7 (0.6 ) Net increase in cash and cash equivalents 1.8 2.8 Cash and cash equivalents at beginning of year 79.3 70.8 Cash and cash equivalents at end of period $ 81.1 $ 73.6 Expand Supplemental Reconciliations of GAAP to non-GAAP Results (unaudited) (Amounts in millions, except per share data) To supplement its consolidated financial statements presented in accordance with accounting principles generally accepted in the United States ('GAAP'), the Company provides additional measures of performance adjusted to exclude the impact of certain discrete expenses and income including adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), adjusted diluted earnings per share ("EPS") and adjusted free cash flow. Investors should not consider non-GAAP measures as a substitute for GAAP measures. The Company excludes certain acquisition related expenses (i.e. impact of adjustments related to the fair value of inventory, contingent third-party professional fees, changes in the fair value of contingent consideration and deferred compensation accruals for acquisitions). The Company also excludes all acquisition-related intangible amortization from adjusted net earnings and in calculations of adjusted diluted EPS. Examples of other excluded items have included plant closures, restructuring charges and related costs, separation costs and other cost reduction initiatives, environmental site expenses and environmental insurance recoveries, endowment level charitable contributions, the impact of defined benefit plan settlements, gains and losses on sales or impairment of fixed assets, and certain other gains and losses. The Company also excludes income/expense from its U.S. Retirement Income Plan ('RIP') in the non-GAAP results as it represents the actuarial net periodic benefit credit/cost recorded. For all periods presented, the Company was not required and did not make cash contributions to the RIP based on guidelines established by the Pension Benefit Guaranty Corporation, nor does the Company expect to make cash contributions to the plan in 2025. Adjusted free cash flow is defined as cash from operating and investing activities, adjusted to remove the impact of cash used or proceeds received for acquisitions and divestitures, environmental site expenses and environmental insurance recoveries. Management's adjusted free cash flow measure includes returns of investment from WAVE and cash proceeds received from the settlement of company-owned life insurance policies, which are presented within investing activities on our condensed consolidated statement of cash flows. The Company uses these adjusted performance measures in managing the business, including communications with its Board of Directors and employees, and believes that they provide users of this financial information with meaningful comparisons of operating performance between current results and results in prior periods. The Company believes that these non-GAAP financial measures are appropriate to enhance understanding of its past performance, as well as prospects for its future performance. The Company also uses adjusted EBITDA and adjusted free cash flow (with further adjustments, when necessary) as factors in determining at-risk compensation for senior management. These non-GAAP measures may not be defined and calculated the same as similar measures used by other companies. Non-GAAP financial measures utilized by the Company may not be comparable to non-GAAP financial measures used by other companies. A reconciliation of these adjustments to the most directly comparable GAAP measures is included in this release and on the Company's website. These non-GAAP measures should not be considered in isolation or as a substitute for the most comparable GAAP measures. In the following charts, numbers may not sum due to rounding. Excluding adjusted diluted EPS, non-GAAP figures are rounded to the nearest million and corresponding percentages are rounded to the nearest percent based on unrounded figures. (1) RIP expense represents only the plan service cost that is recorded within Operating income. For all periods presented, we were not required to and did not make cash contributions to our RIP. (2) Represents the impact of acquisition-related adjustments for the fair value of inventory, contingent third-party professional fees and changes in fair value of contingent consideration. (3) Represents the Company's 50% share of WAVE's settlement of their defined benefit pension plan. Expand Mineral Fiber For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Net sales $ 267 $ 250 $ 512 $ 490 Operating income $ 98 $ 82 $ 183 $ 161 Add: Acquisition-related impacts (1) - 1 - - Add: WAVE pension settlement (2) - 1 - 1 Add: Environmental expense - 1 - 1 Adjusted operating income $ 98 $ 85 $ 183 $ 164 Add: Depreciation and amortization 22 20 43 40 Adjusted EBITDA $ 121 $ 104 $ 226 $ 203 Operating income margin 36.9 % 32.7 % 35.7 % 32.9 % Adjusted EBITDA margin 45.2 % 41.7 % 44.1 % 41.5 % Expand (1) Represents the impact of acquisition-related adjustments for changes in fair value of contingent consideration. (2) Expand Architectural Specialties For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Net sales $ 158 $ 115 $ 295 $ 202 Operating income $ 26 $ 14 $ 40 $ 22 Add: Acquisition-related impacts (1) - 1 - 1 Adjusted operating income $ 26 $ 15 $ 40 $ 23 Add: Depreciation and amortization 8 6 17 10 Adjusted EBITDA $ 34 $ 21 $ 58 $ 33 Operating income margin 16.2 % 12.4 % 13.7 % 10.9 % Adjusted EBITDA margin 21.5 % 18.4 % 19.5 % 16.5 % Expand (1) Represents the impact of acquisition-related adjustments for the fair value of inventory, contingent third-party professional fees and changes in fair value of contingent consideration. Expand Unallocated Corporate For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Operating (loss) $ (1 ) $ (1 ) $ (2 ) $ (2 ) Add: RIP expense (1) 1 1 1 1 Adjusted operating (loss) $ - $ - $ (1 ) $ (1 ) Add: Depreciation and amortization - - - - Adjusted EBITDA $ - $ - $ - $ - Expand (1) RIP expense represents only the plan service cost that is recorded within Operating income. For all periods presented, we were not required to and did not make cash contributions to our RIP. Expand Consolidated Results – Adjusted Free Cash Flow For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Net cash provided by operating activities $ 82 $ 57 $ 123 $ 84 Net cash provided by (used by) investing activities 7 (87 ) 13 (81 ) Net cash provided by (used by) operating and investing activities $ 89 $ (30 ) $ 136 $ 2 (Less)/Add: Acquisitions, net of cash acquired and investment in unconsolidated affiliate (1 ) 94 (1 ) 99 Add: Contingent consideration in excess of acquisition-date fair value (1) - - 1 - Add: Arktura deferred compensation (1) - - - 6 (Less): Proceeds from sale of facility (2) - (2 ) - (2 ) Adjusted Free Cash Flow $ 88 $ 62 $ 136 $ 105 Expand (1) Deferred compensation and contingent consideration payments related to acquisitions that were recorded as components of net cash provided by operating activities. (2) Proceeds related to the sale of Architectural Specialties design center. Expand Consolidated Results – Adjusted Diluted Earnings Per Share (EPS) For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 2025 2024 Total Per Diluted Share Total Per Diluted Share Total Per Diluted Share Total Per Diluted Share Net earnings $ 88 $ 2.01 $ 66 $ 1.50 $ 157 $ 3.59 $ 126 $ 2.86 Add: Income tax expense 28 21 49 42 Earnings before income taxes $ 115 $ 87 $ 206 $ 167 Add: Acquisition-related impacts (1) - 2 - 2 Add: Acquisition-related amortization (2) 4 3 9 5 Add: WAVE pension settlement (3) - 1 - 1 Add: Environmental expense - 1 - 1 Adjusted net earnings before income taxes $ 120 $ 94 $ 215 $ 176 (Less): Adjusted income tax expense (4) (29 ) (23 ) (51 ) (44 ) Adjusted net earnings $ 91 $ 2.09 $ 71 $ 1.62 $ 164 $ 3.76 $ 132 $ 3.00 Adjusted diluted EPS change versus prior year 29.0 % 25.3 % Diluted shares outstanding 43.7 44.0 43.7 44.0 Effective tax rate 24 % 24 % 24 % 25 % Expand (1) Represents the impact of acquisition-related adjustments for the fair value of inventory, contingent third-party professional fees and changes in fair value of contingent consideration. (2) Represents acquisition-related intangible amortization, including customer relationships, developed technology, software, trademarks and brand names, non-compete agreements and other intangibles. (3) Represents the Company's 50% share of WAVE's non-cash accounting loss upon settlement of their defined benefit pension plan. (4) Adjusted income tax expense is calculated using the effective tax rate multiplied by the adjusted net earnings before income taxes. Expand Adjusted EBITDA Guidance For the Year Ending December 31, 2025 Low High Net earnings $ 300 to $ 304 Add: Income tax expense 92 97 Earnings before income taxes $ 392 to $ 402 Add: Interest expense 34 36 Add: Other non-operating (income), net (2 ) (1 ) Operating income $ 425 to $ 436 Add: RIP expense (1) 2 2 Adjusted operating income $ 427 to $ 438 Add: Depreciation and amortization 117 122 Adjusted EBITDA $ 545 to $ 560 Expand (1) RIP expense represents only the plan service cost that is recorded within Operating income. We do not expect to make cash contributions to our RIP. Expand (1) Adjusted diluted EPS guidance for 2025 is calculated based on approximately 43 to 44 million of diluted shares outstanding. (2) RIP cost represents the entire actuarial net periodic pension cost recorded as a component of net earnings. We do not expect to make any cash contributions to our RIP. (3) Represents acquisition-related intangible amortization, including customer relationships, developed technology, software, trademarks and brand names, non-compete agreements and other intangibles. (4) Income tax expense is based on an adjusted effective tax rate of approximately 24%, multiplied by adjusted earnings before income taxes. Expand (1) Net cash provided by operating activities is based on a normalized cash tax rate including the impact of 2025 tax reform. Expand
Yahoo
28-07-2025
- Business
- Yahoo
Armstrong World (AWI) Reports Earnings Tomorrow: What To Expect
Ceiling and wall solutions company Armstrong World Industries (NYSE:AWI) will be reporting earnings this Tuesday before market hours. Here's what to expect. Armstrong World beat analysts' revenue expectations by 3.4% last quarter, reporting revenues of $382.7 million, up 17.3% year on year. It was a strong quarter for the company, with a solid beat of analysts' adjusted operating income estimates and an impressive beat of analysts' EBITDA estimates. Is Armstrong World a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Armstrong World's revenue to grow 10.5% year on year to $403.6 million, slowing from the 12.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.78 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Armstrong World has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average. Looking at Armstrong World's peers in the building products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Valmont delivered year-on-year revenue growth of 1%, beating analysts' expectations by 1.7%, and Sherwin-Williams reported flat revenue, in line with consensus estimates. Valmont traded up 7.9% following the results while Sherwin-Williams's stock price was unchanged. Read our full analysis of Valmont's results here and Sherwin-Williams's results here. There has been positive sentiment among investors in the building products segment, with share prices up 6.8% on average over the last month. Armstrong World is up 4.7% during the same time and is heading into earnings with an average analyst price target of $170.56 (compared to the current share price of $170). Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Will Armstrong World Industries (AWI) Beat Estimates Again in Its Next Earnings Report?
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Armstrong World Industries (AWI), which belongs to the Zacks Building Products - Miscellaneous industry, could be a great candidate to consider. When looking at the last two reports, this ceiling and wall systems manufacturer has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 8.29%, on average, in the last two quarters. For the most recent quarter, Armstrong World Industries was expected to post earnings of $1.66 per share, but it reported $1.55 per share instead, representing a surprise of 7.10%. For the previous quarter, the consensus estimate was $1.37 per share, while it actually produced $1.5 per share, a surprise of 9.49%. With this earnings history in mind, recent estimates have been moving higher for Armstrong World Industries. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Armstrong World Industries has an Earnings ESP of +1.71% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on July 29, 2025. When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss. Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate. Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Armstrong World Industries, Inc. (AWI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
