Armstrong World Industries, Inc. (NYSE:AWI) Q2 2022 Earnings Conference Call July 26, 2022 10:00 AM ET

CompanyParticipants

Theresa Womble - Director of Investor Relations

Vic Grizzle - President & Chief Executive Officer

Brian MacNeal - Senior Vice President & Chief Financial Officer

Chris Calzaretta - Incoming Chief Financial Officer

Conference Call Participants

Susan Maklari - Goldman Sachs

Phil Ng - Jefferies

Garik Shmois - Loop Capital

Stephen Kim - Evercore ISI

Rafe Jadrosich - Bank of America

Keith Hughes - Truist Securities

John Lovallo - UBS

Kathryn Thompson - Thompson Research Group

Daniel Oppenheim - Credit Suisse

Operator

Good day and thank you for standing by. Welcome to the Armstrong World Industries Second 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, Investor Relations and Corporate Communications. Please go ahead.

Theresa Womble

Thank you, Carmen and welcome, everyone. On today's call, Vic Grizzle, our CEO; and Brian MacNeal, our CFO, will discuss Armstrong World Industries' second quarter 2022 results and rest-of-year outlook, along with some notable progress on our growth initiatives. Also joining us today for the Q&A session is Chris Calzaretta, who will take over the CFO role effective August 1, as Brian moved into his retirement.

Our discussion of operating and financial performance will include non-GAAP financial measures within the meaning of SEC Reg 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 issued this morning. Both of these are available on the Investor Relations website at armstrongworldindustries.com. 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, July 26, 2022. These statements involve risks and uncertainties that may differ materially from those expected or implied. 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 for those of you following along with our presentation, please turn to Slide 4 as we turn the call over to Vic.

Vic Grizzle

Thank you, Theresa and good morning, everyone. This morning, we reported overall mixed results with strong sales growth of 15%, while EBITDA grew 2%. Our net sales growth resulted from double-digit year-over-year growth for both our Mineral Fiber and Architectural Specialties segments. And within the Mineral Fiber business, we delivered strong AUV performance of 12% and 1% volume growth.