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Armstrong World Industries (AWI) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 27, 2026 · Armstrong World Industries (AWI) Q3 2026 earnings results →

Q3 2026 Revenue up 12% year over year to $476M · 19¢ of every $1 of revenue kept as net profit · operating margin 27.6%

Armstrong World Industries made $476M in Q3 2026 (+12% Y/Y): Mineral Fiber $292M, Architectural Specialties $184M. Operating margin 27.6%, net earnings $91.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 27, 2026.

Revenue$476M
Year over year+12%
Operating margin27.6%
Net earnings$91.9M
Operating cash flow$96.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $475.8M in Q3 2026, up 12% year over year and up 1% from the previous quarter. Mineral Fiber was the largest line at 61% of revenue. Architectural Specialties added $32.5M year over year (up 21%), 64% of the total change.

Gross margin was 40.1%, down 1.9 points from Q3 2025. Operating profit was $131.2M, a 27.6% margin (unchanged year over year). Of the extra revenue versus Q3 2025, 28% reached operating profit, above the 28% margin then. Operating expenses fell 3% while revenue rose 12%. Net earnings were $91.9M, up 6% year over year. The effective tax rate was 26.1%.

Operating cash flow was $96.2M (down 22% year over year), 105% of net earnings. Non-cash charges added back $32.2M of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items used $32.5M. Capital expenditures of $24.7M left free cash flow of $71.5M.

Quarterly history

Armstrong World Industries revenue by quarterArmstrong World Industries revenue by quarter$383MQ1 2025$425MQ2 2025$425MQ3 2025$388MQ4 2025$410MQ1 2026$472MQ2 2026$476MQ3 2026
Armstrong World Industries net earnings by quarterArmstrong World Industries net earnings by quarter$69.1MQ1 2025$87.8MQ2 2025$86.3MQ3 2025$65.5MQ4 2025$66.8MQ1 2026$96.7MQ2 2026$91.9MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 27, 2026$476M+12%27.6%$91.9M$96.2M
Q2 202610-QJul 28, 2026$472M+11%28.3%$96.7M$93.8M
Q1 202610-QApr 28, 2026$410M+7%23.0%$66.8M$32.1M
Q4 202510-KFeb 24, 2026$388M+6%23.7%$65.5M$110M
Q3 202510-QOct 28, 2025$425M+10%27.6%$86.3M$123M
Q2 202510-QJul 29, 2025$425M+16%29.0%$87.8M$81.6M
Q1 202510-QApr 29, 2025$383M+17%25.7%$69.1M$41.0M

Charts

Armstrong World Industries: revenue growth, year over year and quarter over quarterArmstrong World Industries: revenue growth, year over year and quarter over quarterY/YQ/Q+17%Q1 2025+16%+11%Q2 2025+10%+0%Q3 2025+6%-9%Q4 2025+7%+6%Q1 2026+11%+15%Q2 2026+12%+1%Q3 2026
Latest (Q3 2026): Y/Y +12%, Q/Q +1%.
Armstrong World Industries: where the cash came from (+) and went (−), TTM to Q3 2026Armstrong World Industries: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$380MNet borrowing (+) / repaid (−)−$354MOperating cash flow$332MBuybacks−$263MOther investing$131MCapital spending−$114MAcquisitions−$72.1MDividends−$59.1MCash drawn (+) / kept (−)$18.7MExchange rates−$300K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Armstrong World Industries: profit against cash, quarter by quarterArmstrong World Industries: profit against cash, quarter by quarterNet incomeOperating cash flow$62.2M$86.6MQ4 2024$69.1M$41.0MQ1 2025$87.8M$81.6MQ2 2025$86.3M$123MQ3 2025$65.5M$110MQ4 2025$66.8M$32.1MQ1 2026$96.7M$93.8MQ2 2026$91.9M$96.2MQ3 2026
Latest (Q3 2026): Net income $91.9M, Operating cash flow $96.2M.
Armstrong World Industries: diluted shares by fiscal yearArmstrong World Industries: diluted shares by fiscal year48MFY202048MFY202146MFY202245MFY202344MFY202444MFY2025
-9.0% since FY2020: buybacks shrank the count.
Armstrong World Industries: long-term debt falling due (FY2025)Armstrong World Industries: long-term debt falling due (FY2025)$10.3M2026$10.3M2027$20.5M2028$20.5M2029$349M2030
Cash $113M, short-term investments —, long-term debt — at 2025-12-31.
Armstrong World Industries in its industry: growth against margin (8 companies, SIC 3089)Armstrong World Industries in its industry: growth against margin (8 companies, SIC 3089)revenue growth, year over year →↑ operating marginmedian +12%median 13%NWLATRENTGSWIMMYEKRTCMTAWI (+12%, 28%)
Plastics Products, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Armstrong World Industries

Armstrong World Industries, Inc. (“AWI” or the “Company”) is a Pennsylvania corporation incorporated in 1891. When we refer to “we,” “our” and “us” in this report, we are referring to AWI and its subsidiaries. AWI is an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions. We manufacture and source products made of numerous materials, including mineral fiber, fiberglass, metal, felt, architectural resin and glass, wood, wood fiber and glass-reinforced-gypsum. We also manufacture ceiling suspension system (grid) products through a joint venture with Worthington Enterprises, Inc. called Worthington Armstrong Venture (“WAVE”).

In its own words, from its 10-K, filed Feb 24, 2026.

Armstrong World Industries against its Plastics Products, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +12%. Operating margin: 27.6% against the peers' median 13.0%.

CompanyQuarterRevenueY/YOp. margin
AWI Armstrong World IndustriesQ3 2026$476M+12%27.6%
NWL Newell BrandsQ3 2026$1.9B+4%1.4%
ATR AptargroupQ3 2026$1.0B+6%13.2%
ENTG EntegrisQ3 2026$1.0B+25%22.9%
SWIM Latham GroupQ3 2026$182M+12%13.0%
MYE Myers IndustriesQ3 2026$171M+8%8.7%
KRT Karat PackagingQ3 2026$135M+8%3.6%
CMT Core Molding TechnologiesQ3 2026$90.2M+54%1.8%

Source: Armstrong World Industries 10-Q on SEC EDGAR · CIK 7431 · Plastics Products, NEC

13F: who owns AWI and who is buying

Largest holders of AWI (13F)Largest holders of AWI (13F)Vanguard Group$849MBlackRock$827MVanguard Portfolio Management LLC$356MVanguard Capital Management LLC$309MLondon Co of Virginia$264MBurgundy Asset Management$257MState Street$231MBank of Montreal$177MFuller & Thaler Asset Management$177MGeode Capital Management, LLC$167M
Funds' net buying of AWI by quarter (13F)Funds' net buying of AWI by quarter (13F)−$82.5M2024-09−$72.9M2024-12−$4.9M2025-03−$23.5M2025-06−$27.2M2025-09$503M2025-12−$156M2026-03−$138M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on AWI

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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