Armstrong World IndustriesNYSE: AWI

Armstrong World Industries (AWI) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Here is how Armstrong World Industries (AWI) and Acuity Brands (AYI) have performed compared to their sector so far this year.

Armstrong World Industries, Inc. (NYSE:AWI ) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET Company Participants Theresa Womble - Vice President, Investor Relations and Corporate Communications Vic Grizzle - Chief Executive Officer Chris Calzaretta - Chief Financial Officer Conference Call Participants Susan Maklari - Goldman Sachs Keith Hughes - Truist Securities Adam Baumgarten - Zelman & Associates Rafe Jadrosich - Bank of America Aatish Shah - Evercore Garik Shmois - Loop Capital Kathryn Thompson - TRG Fiona Shang - Jefferies John Lovallo - UBS Operator Thank you for standing by. My name is Bailey, and I will be your conference operator today.

AWI's third-quarter results reflect favorable AUV and higher sales volume.

The headline numbers for Armstrong World Industries (AWI) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

AWI hikes dividend for the sixth consecutive year.

LANCASTER, Pa.--(BUSINESS WIRE)--Armstrong World Industries, Inc. (NYSE:AWI), a leader in the design, innovation and manufacture of ceiling and wall solutions, announced today that its Board of Directors has approved a 10% increase in the company's quarterly cash dividend to $0.308 per share of common stock. The dividend will be paid on November 21, 2024, to stockholders of record as of the close of business on November 7, 2024. “This announcement marks the sixth consecutive annual increase sin.

Strategic acquisitions like 3form and BOK Modern, along with organic growth from large projects, particularly in the transportation sector, fuel Armstrong World Industries' performance and contribute to its upgraded full-year outlook. Q2 performance showed double-digit net revenue growth and record earnings, with significant growth from its Architectural Specialties segments. Its involvement in high-growth sectors like data centers, with ~100 projects in the pipeline, positions the company for continued expansion, further supported by its ability to secure large, long-term contracts.

Armstrong World Industries, Inc.'s AWI shares have gained 26% so far this year, outperforming the Zacks Building Products - Miscellaneous industry's 12.3% growth and the Zacks Construction sector's 14.6% increase. This leading global producer of ceiling systems has been making the most from increased sales of innovative digital platforms such as ProjectWorks and Canopy, moderation of input costs, the acquisitions of 3form and BOK Modern and large federally funded transportation projects.