Armstrong World Industries
Makes ceilings, specialty walls, and exterior metal solutions for architectural applications.
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Profile
Designs and manufactures ceiling systems, specialty walls, and exterior metal solutions for architectural applications across the Americas. Revenue comes from Mineral Fiber and acquisition-built Architectural Specialties, while flooring has been outside the company since the separation.
Designs and manufactures interior and exterior architectural applications across the Americas. Headquartered in Lancaster, Pennsylvania, it serves the Americas. Mineral Fiber supplies ceiling systems, while Architectural Specialties adds specialty walls and exterior metal solutions. The latter business has been built through acquisitions.
The business began as a cork company in 1860, then expanded into building interiors before its current architectural-applications focus. Its current products do not include the separated flooring business. Its capital history also includes a Chapter 11 reorganization to resolve asbestos-related liabilities, followed by a return to NYSE trading.
Company facts
Key statistics
Year to date −11.0% · Average volume (30d) 472.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | D.A. Davidson | Target | $215 | |||
| Jul 29, 2026 | UBS | Reiterate | Neutral | $195 | $203 | |
| Jul 29, 2026 | Jefferies | Reiterate | Hold | $71 | $190 | |
| Apr 29, 2026 | UBS | Reiterate | Neutral | $200 | $195 | |
| Apr 29, 2026 | Evercore ISI Group | Upgrade | In Line | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $2.25 | $2.36 | +4.9% | $461.7M | $472.0M | +2.2% | −2.33% |
| Apr 28, 2026Q1 FY26 | $1.82 | $1.69 | −7.1% | $409.5M | $410.0M | +0.1% | −0.59% |
| Feb 24, 2026Q4 FY25 | $1.67 | $1.61 | −3.6% | $400.9M | $388.3M | −3.1% | −1.20% |
| Oct 28, 2025Q3 FY25 | $1.99 | $2.05 | +3.0% | $400.9M | $425.2M | +6.1% | −0.83% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $382.7M | $424.6M | $425.2M | $388.3M | $409.9M | $472.0M | |
| Gross profit | $149.9M | $175.8M | $178.5M | $154.5M | $155.3M | $195.0M | |
| Operating income | $71.9M | $91.4M | $117.2M | $150.4M | $94.2M | $133.8M | |
| Net income | $69.1M | $87.8M | $86.3M | $65.5M | $66.8M | $96.7M | |
| Diluted EPS | $1.58 | $2.01 | $1.98 | $1.51 | $1.55 | $2.26 | |
| Gross margin | 39.2% | 41.4% | 42.0% | 39.8% | 37.9% | 41.3% | |
| Operating margin | 18.8% | 21.5% | 27.6% | 38.7% | 23.0% | 28.3% |
Fiscal years (4-quarter sums)FY21 $1.11B · FY22 $1.23B · FY23 $1.30B · FY24 $1.45B · FY25 $1.62B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $78.6M · Total debt $579.4M · Total assets $2.01B · Shareholders' equity $884.3M
Dividends
Raised for 6 straight years — most recently to $0.339 from $0.308 in Nov 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 5, 2026 | Aug 5 | Aug 19 | $0.339 | |
| May 11, 2026 | May 11 | May 26 | $0.339 | |
| Mar 5, 2026 | Mar 5 | Mar 19 | $0.339 | |
| Nov 6, 2025 | Nov 6 | Nov 20 | $0.339 | raised from $0.308 |
| Aug 7, 2025 | Aug 7 | Aug 21 | $0.308 | |
| May 8, 2025 | May 8 | May 22 | $0.308 | |
| Mar 6, 2025 | Mar 6 | Mar 20 | $0.308 | |
| Nov 7, 2024 | Nov 7 | Nov 21 | $0.308 | raised from $0.28 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 42.26M · Float 41.61M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.16M | 12.20% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.22M | 5.25% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.92M | 4.55% | 13F | Aug 13, 2026 |
| London Co of Virginia | 1.64M | 3.89% | 13F | Aug 14, 2026 |
| State Street Corp | 1.44M | 3.40% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 27, 2026 | Roy W. Templin | director | +575 | $173.91 |
Peers
- Carlisle
Architectural metal wall and building-envelope systems
- Apogee Enterprises
Architectural glass, curtainwall, storefront, and framing
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Armstrong World Industries | $175.09 | −0.02% | $7.40B | 24.0 | 19.6 | 4.4 | +11.2% |
| Carlisle | $356.53 | −0.05% | $14.43B | 20.5 | 15.7 | 2.8 | +8.3% |
| Apogee Enterprises | $40.33 | −0.12% | $841.6M | 12.6 | 13.7 | 0.6 | −1.1% |
| Median | 16.6 | 14.7 | 1.7 | +3.6% |