Armstrong World Industries, Inc. (NYSE:AWI) Q4 2022 Earnings Conference Call February 21, 2023 10:00 AM ET
Company Participants
Theresa Womble - Vice President, Investor Relations
Vic Grizzle - Chief Executive Officer
Chris Calzaretta - Chief Financial Officer
Conference Call Participants
Susan Maklari - Goldman Sachs
Keith Hughes - Truist
Garik Shmois - Loop Capital
Phil Ng - Jefferies
Adam Baumgarten - Zelman & Associates
Rafe Jadrosich - Bank of America
Joe Ahlersmeyer - Deutsche Bank
John Lovallo - UBS
Stephen Kim - Evercore ISI
Kathryn Thompson - Thompson Research Group
Operator
Good day, and thank you for standing by. Welcome to the Armstrong World Industries, Inc. Fourth Quarter 2022 Earnings Conference Call. [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, Vice President of Investor Relations.
Theresa Womble
Thank you, and welcome, everyone, to our call this morning. On today's call, Vic Grizzle, our CEO; and Chris Calzaretta, our CFO will discuss Armstrong World Industries fourth quarter 2022 results, and our outlook for 2023. To accompany these remarks, we have provided a presentation that is available on the IR section of the Armstrong World Industries website.
Our discussion of operating and financial performance will include non-GAAP financial measures within the meaning of SEC’s Regulation G. A reconciliation of these measures with the most directly comparable GAAP measure is included in the earnings press release and in the appendix of the presentation.
During this call, we will be making forward-looking statements that represent the view we have of our financial and operational performance as of today's date, February 21, 2023. These statements involve risks and uncertainties that may differ materially from those expected or implied.
We provide a detailed discussion of our risks and uncertainties in our SEC filings, including the 10-K that was also filed this morning. We undertake no obligation to update any forward-looking statements beyond what is required by applicable securities law.
With that, I will now turn the call over to Vic.
Vic Grizzle
Thank you, Theresa, and good morning, and thank you all for joining our call today. Today, we reported solid fourth quarter and full-year results, and what continues to be a challenging environment for many of our end markets. Fourth quarter net sales increased 8% and adjusted EBITDA rose 5%. For the full-year, net sales increased 11% from 2021 results and EBITDA improved 4%, driven by strong AUV growth in Mineral Fiber, strong Architectural Specialty sales and earnings growth, and as well as solid productivity gains in our mineral fiber plants.