Armstrong World Industries, Inc. (NYSE:AWI) Q2 2023 Earnings Conference Call July 25, 2023 10:00 AM ET

Company Participants

Theresa Womble - Vice President of Investor Relations and Corporate Communications

Vic Grizzle - President and Chief Executive Officer

Chris Calzaretta - Chief Financial Officer

Conference Call Participants

Keith Hughes - Truist Securities

Garik Shmois - Loop Capital Markets

Kathryn Thompson - Thompson Research Group

Philip Ng - Jefferies

Susan Maklari - Goldman Sachs

Adam Baumgarten - Zelman & Associates

Stephen Kim - Evercore

John Lovallo - UBS

Rafe Jadrosich - Bank of America

Operator

Good day and thank you for standing by. Welcome to the Second Quarter 2023 Armstrong World Industries Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Theresa Womble, VP of Investor Relations and Corporate Communications. Please go ahead

Theresa Womble

Thank you and welcome everyone to our call this morning. Today, we have Vic Grizzle, our CEO; and Chris Calzaretta, our CFO to discuss Armstrong World Industries second quarter 2023 results and rest of year outlook. To accompany these remarks, we have provided a presentation that is available on the Investors section of the Armstrong World Industries website.

Our discussion of operating and financial performance will include non-GAAP financial measures within the meaning of the SEC Reg G. A reconciliation of these measures with the most appropriate comparable GAAP measure is included in the earnings press release and in the appendix of the presentation issued this morning. Both of these are available on our Investor Relations website.

During the call, we will be making forward-looking statements that represent our view of our financial and operational performance as of today's date, July 25th, 2023. These statements involve risks and uncertainties that may differ materially from those implied or expected. We provide a detailed discussion of the risks and uncertainties in our SEC filings, including the 10-Q filed earlier this morning. We undertake no obligation to update any forward-looking statement beyond what is required by applicable securities law.

Now I will turn the call over to Vic.

Vic Grizzle

Thank you, Theresa, and good morning, everyone, and welcome to our earnings call. We have lots of exciting things going on at the company, including a strong quarter of execution and the acquisition of BOK Modern, which we announced yesterday. So let's jump right in. On a total company basis, we generated 10% year-over-year adjusted EBITDA growth on 1% net sales growth in the quarter, despite soft market conditions and continued economic uncertainty.