Armstrong World Industries Hosts 2022 Investor Day and Introduces Five-Year Growth Targets
March 03 2022 - 7:45AM
Armstrong World Industries, Inc (NYSE: AWI), a leader in the
design, innovation and manufacture of commercial and residential
ceiling and wall solutions, will be hosting its 2022 Investor Day
beginning at 9:00 AM ET today at its corporate headquarters.
AWI president and chief executive officer Vic Grizzle and other
members of the senior leadership team will discuss company strategy
and introduce the company’s five-year growth targets based on
increased confidence in its key growth initiatives focused on
innovation, Healthy Spaces and digitalization.
“We are excited to increase our growth outlook as a result of
the success we are achieving with our key growth initiatives,” said
Vic Grizzle, AWI president and chief executive officer. “Through
our innovation, Healthy Spaces and digital efforts, we expect to
deliver accelerated value creation as the market recovery continues
and secular trends toward sustainable, healthy built spaces provide
tailwinds for growth.”
Five-Year Growth TargetsIn conjunction with
this event, the company has announced the following five-year
compounded annual growth targets.
- Revenue growth rate of 10% to 13%
- Adjusted EBITDA* growth rate of 12% to 15%
- Adjusted diluted EPS* growth rate of 15% to 20%
- Adjusted Free Cash Flow* growth rate of 15% to 20%*Non-GAAP
measures. 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.
A live webcast of the event and supporting presentation
materials, will be accessible on the Investor Relations section of
the company’s website at ArmstrongWorldIndustries.com. A replay
will also be available shortly following the conclusion of the
event.
Contacts |
|
Investors: |
Theresa Womble, tlwomble@armstrongceilings.com or (717)
396-6354 |
Media: |
Jennifer Johnson, jenniferjohnson@armstrongceilings.com or (866)
321-6677 |
About Armstrong World Industries
Armstrong World Industries, Inc. (AWI) is a leader in the design
and manufacture of innovative commercial and residential ceiling,
wall and suspension system solutions in the Americas. With $1.1
billion in revenue in 2021, AWI has approximately 2,800 employees
and a manufacturing network of 15 facilities, plus six facilities
dedicated to its WAVE joint venture.
Uncertainties Affecting Forward-Looking
Statements
Disclosures in this release and in our other public documents
and comments may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995. 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 our five-year growth
targets which represent internal company estimates at a five-year
compounded annual growth rate. 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
Forms 10-K and 10-Q filed with the U.S. Securities and
Exchange Commission. Forward-looking statements speak only as
of the date they are made. We do not undertake or assume any
obligation to update or revise any forward-looking statements
beyond what is required under applicable securities law.
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