Q: Hi, Pat. Just a quick question. I have seen some interesting comments on Armstrong World Industries lately. What’s your view on Armstrong as a buy? Thanks in advance.
A: Armstrong World Industries Inc., $123.76, symbol AWI on New York (Shares outstanding: 43.7 million; Market cap: $5.4 billion; www.armstrongworldindustries.com), is a leader in designing and manufacturing innovative commercial and residential ceiling, wall and suspension systems. The company has over 3,500 employees working from 19 facilities in the U.S. and Canada.
On April 29, 2024, Armstrong announced the acquisition of 3form LLC, a Salt Lake City-based maker of sustainably crafted architectural resins and glass for ceilings, walls and other interior applications. The purchase includes three U.S.-based production and design facilities, with around 390 employees.
3form adds complementary materials and design capabilities to Armstrong’s Architectural Specialties portfolio. The acquisition will let the company sell more products to architects and designers.
3form has been in business for more than three decades. It generated 2023 revenue of $96 million. The purchase price has not yet been disclosed.
Armstrong’s reported revenue of $1.04 billion in 2019. Revenue then fell 9.7% in 2020, to $936.9 million, as the pandemic…
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