# EDGAR Filing Document

**Accession Number:** 0000007431
**File Stem:** 0001193125-26-183353
**Filing Date:** 2026-4
**Character Count:** 61229
**Document Hash:** 1d902a0a894fb7a9ddc92d7391343100
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-183353.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001193125-26-183353

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 29

**CONFORMED PERIOD OF REPORT**: 20260428

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARMSTRONG WORLD INDUSTRIES INC
- **CENTRAL INDEX KEY:** 0000007431
- **STANDARD INDUSTRIAL CLASSIFICATION:** PLASTICS PRODUCTS, NEC [3089]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 230366390
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-02116
- **FILM NUMBER:** 26902942

**BUSINESS ADDRESS:**
- **STREET 1:** 2500 COLUMBIA AVE
- **CITY:** LANCASTER
- **STATE:** PA
- **ZIP:** 17603
- **BUSINESS PHONE:** 7173970611

**MAIL ADDRESS:**
- **STREET 1:** 2500 COLUMBIA AVE
- **CITY:** LANCASTER
- **STATE:** PA
- **ZIP:** 17603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARMSTRONG CORK CO
- **DATE OF NAME CHANGE:** 19800611

?xml version='1.0' encoding='ASCII'? 8-K

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

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**FORM** 8-K

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**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** April 28, 2026

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ARMSTRONG WORLD INDUSTRIES, INC.

**(Exact name of registrant as specified in its charter)** 

------

---

| | | |
|:---|:---|:---|
| Pennsylvania | 1-2116 | 23-0366390 |
| **(State or other jurisdiction**<br>**of incorporation or organization)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |
| 2500 Columbia Avenue P.O. Box 3001<br>Lancaster**,** Pennsylvania | 2500 Columbia Avenue P.O. Box 3001<br>Lancaster**,** Pennsylvania | 17603 |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code: (**717**)** 397-0611

**NA** 

**(Former name or former address if changed since last report.)** 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.01 par value per share | AWI | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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**Section 2 - Financial Information** 

**Item 2.02 Results of Operations and Financial Condition.** 

On April 28, 2026, Armstrong World Industries, Inc. (the "Company") issued a press release announcing its first quarter 2026 consolidated financial results. The full text of the press release is attached hereto as Exhibit 99.1.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished herewith and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Act"), or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Section 7 – Regulation FD** 

**Item 7.01 Regulation FD Disclosure.** 

On April 28, 2026, the Company issued a press release announcing that it will report its first quarter 2026 consolidated financial results via a webcast and conference call on April 28, 2026 at 10:00 a.m. Eastern Time which can be accessed through the "Investors" section of the Company's website, www.armstrong.com. During this report, the Company will reference a slide presentation, a copy of which is attached hereto as Exhibit 99.2 and incorporated herein by reference.

The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2, is being furnished herewith and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Act, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Section 9 – Financial Statements and Exhibits** 

**Item 9.01 Financial Statements and Exhibits.** 

**(d) Exhibits** 

---

| | |
|:---|:---|
| No. 99.1 | [<u>Press Release of Armstrong World Industries, Inc. dated April 28, 2026</u>](awi-ex99_1.htm) |
| No. 99.2 | [<u>Earnings Call Presentation First Quarter 2026 dated April 28, 2026</u>](awi-ex99_2.htm) |
| No. 104 | <u>Cover Page Interactive Data File (embedded within the Inline XBRL document)</u> |

---

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| ARMSTRONG WORLD INDUSTRIES, INC. | ARMSTRONG WORLD INDUSTRIES, INC. |
| By:  | */s/ Jessica M. Cicali* |
|  | Jessica M. Cicali |
|  | SVP General Counsel, Chief Compliance Officer, Secretary |

---

Date: April 28, 2026

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## Exhibit 99.1

![img106620050_0.gif](img106620050_0.gif)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Exhibit 99.1** 

**Armstrong World Industries Reports**

 **First-Quarter 2026 Results**

&nbsp;&nbsp;&nbsp;&nbsp;•Record-setting first-quarter Net Sales with double-digit growth in Architectural Specialties and solid Mineral Fiber results driven by both Average Unit Value (AUV) and volume growth

&nbsp;&nbsp;&nbsp;&nbsp;•Operating Income down 4% and Adjusted EBITDA up 1%

&nbsp;&nbsp;&nbsp;&nbsp;•Diluted Net Earnings Per Share down 2% and Adjusted Diluted Net Earnings Per Share up 2%

&nbsp;&nbsp;&nbsp;&nbsp;•Reaffirming 2026 guidance for Net Sales, Adjusted EBITDA and Adjusted Free Cash Flow; Raising Adjusted Diluted Earnings Per Share guidance to +10% to +14% growth versus prior year

(Comparisons above are versus the prior-year period unless otherwise stated)

LANCASTER, Pa., April 28, 2026 -- Armstrong World Industries, Inc. (NYSE:AWI), an Americas leader in the design and manufacture of innovative interior and exterior architectural applications including ceilings, specialty walls and exterior metal solutions, today reported first-quarter 2026 financial results highlighted by 7.1% net sales growth.

"We delivered solid topline growth this quarter, driven by Mineral Fiber AUV and higher volumes, along with double-digit sales growth in Architectural Specialties," said AWI President and CEO, Mark Hershey. "We continued to deliver strong Mineral Fiber Adjusted EBITDA performance, while total company Adjusted EBITDA in the quarter was pressured by short-term headwinds in the Architectural Specialties segment, including a non-recurring tariff adjustment, as well as continued growth investments."

"Looking forward, we remain encouraged by the stability of our key markets and our expanding order intake levels for Architectural Specialties. We are also pleased by the momentum building for our recently introduced products focused on energy efficiency and data centers. With our dedicated teams focused on execution and attractive growth initiatives, we remain confident in our expectation to deliver profitable topline growth and expanded adjusted EBITDA margins in both segments for the full year."

**First-Quarter Consolidated Results**

---

| | | | |
|:---|:---|:---|:---|
| (Dollar amounts in millions except per-share data) | For the Three Months Ended March 31, | For the Three Months Ended March 31, |  |
|  | 2026 | 2025 | Change |
| Net sales | $409.9 | $382.7 | 7.1% |
| Operating income | $94.2 | $98.5 | (4.4)% |
| Operating income margin (Operating income as a % of net sales) | 23.0% | 25.7% | (270)bps |
| Net earnings | $66.8 | $69.1 | (3.3)% |
| Diluted net earnings per share | $1.55 | $1.58 | (1.9)% |
| **Additional Non-GAAP\* Measures** |  |  |  |
| Adjusted EBITDA | $130 | $129 | 0.8% |
| Adjusted EBITDA margin (Adjusted EBITDA as a % of net sales) | 31.7% | 33.6% | (190)bps |
| Adjusted net earnings | $73 | $73 | 0.5% |
| Adjusted diluted net earnings per share | $1.69 | $1.66 | 1.8% |

---

\* The Company uses non-GAAP adjusted measures in managing the business and believes the adjustments provide meaningful comparisons of operating performance between periods and are useful alternative measures of performance. Reconciliations of the most comparable generally accepted accounting principles in the United States ("GAAP")

------

measure are found in the tables at the end of this press release. Excluding per share data, non-GAAP figures are rounded to the nearest million and corresponding percentages are rounded to the nearest decimal.

Consolidated net sales for the first quarter of 2026 increased 7.1% from the prior-year period due to higher volumes of $17 million and favorable AUV of $10 million. Architectural Specialties net sales increased $15 million and Mineral Fiber net sales increased $12 million from the prior-year period. Architectural Specialties segment net sales improved due to a $10 million increase in organic net sales and a $5 million inorganic contribution. The increase in Mineral Fiber net sales was primarily driven by favorable AUV and improved sales volumes.

Consolidated operating income decreased 4.4% in the first quarter of 2026 compared to the prior-year period, primarily driven by certain non-recurring costs and discrete items, including a $3 million increase in expenses related to severance and cost reduction actions, a $3 million increase in acquisition costs associated with the Eventscape transaction and a $2 million increase in expenses related to a tariff adjustment. Excluding the impact of these non-recurring costs and discrete items, operating income increased compared to the prior year, driven by a $9 million increase in AUV and a $7 million increase in organic sales volumes, partially offset by an $8 million organic increase in manufacturing costs and a $5 million increase in organic selling, general and administrative ("SG&A") expenses.

**First-Quarter Segment Results**

<u>Mineral Fiber</u>

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| | | | |
|:---|:---|:---|:---|
| (Dollar amounts in millions) | For the Three Months Ended March 31, | For the Three Months Ended March 31, |  |
|  | 2026 | 2025 | Change |
| Net sales | $257.2 | $245.1 | 4.9% |
| Operating income | $85.5 | $84.5 | 1.2% |
| Adjusted EBITDA\* | $109 | $105 | 3.5% |
| Operating income margin | 33.2% | 34.5% | (130)bps |
| Adjusted EBITDA margin\* | 42.4% | 43.0% | (60)bps |

---

Mineral Fiber net sales increased 4.9% in the first quarter of 2026 compared to the prior-year quarter due to $10 million of favorable AUV, driven primarily by favorable like-for-like price, and $2 million of higher sales volumes driven primarily by solid commercial execution.

Mineral Fiber operating income increased 1.2% year-over-year due to a $9 million benefit from favorable AUV, a $1 million benefit from higher sales volumes and a $1 million increase in WAVE equity earnings. These benefits were partially offset by a $5 million increase in manufacturing costs, including raw material and energy inflation and unfavorable inventory valuation impacts, partially offset by improved manufacturing productivity, and a $4 million increase in SG&A expenses. The year-over-year increase in SG&A expenses was primarily driven by a $2 million increase related to severance and cost reduction actions and a $1 million decrease in company-owned life insurance gains related to deferred compensation plans.

<u>Architectural Specialties</u>

---

| | | | |
|:---|:---|:---|:---|
| (Dollar amounts in millions) | For the Three Months Ended March 31, | For the Three Months Ended March 31, |  |
|  | 2026 | 2025 | Change |
| Net sales | $152.7 | $137.6 | 11.0% |
| Operating income | $9.3 | $14.8 | (37.2)% |
| Adjusted EBITDA\* | $21 | $24 | (11.9)% |
| Operating income margin | 6.1% | 10.8% | (470)bps |
| Adjusted EBITDA margin\* | 13.6% | 17.1% | (350)bps |

---

Architectural Specialties net sales increased 11.0% in the first quarter of 2026 compared to the prior-year quarter due to a $10 million increase in organic net sales driven by growth within our metal and wood categories and a $5 million inorganic contribution from our 2026 and 2025 acquisitions.

------

Architectural Specialties operating income decreased 37.2% in the first quarter of 2026 compared to the prior-year quarter, as certain non-recurring costs and discrete items offset a $6 million benefit from higher organic net sales. These costs included a $3 million increase in acquisition costs associated with the Eventscape transaction, a $2 million increase in expenses related to a tariff adjustment and a $1 million increase in expenses related to severance and cost reduction actions. Operating income was also impacted by a $3 million increase in organic manufacturing costs and a $2 million increase in organic selling expenses, driven primarily by higher net sales and investments in selling resources to support growth, both of which pressured operating leverage.

<u>Unallocated Corporate</u>

Unallocated Corporate operating loss was $1 million in the first quarter of 2026 and 2025.

**Cash Flow**

Cash flows from operating activities in the first quarter of 2026 decreased $9 million in comparison to the prior-year period. The unfavorable change in operating cash flows was primarily driven by an unfavorable timing-related change in accounts receivable, partially offset by a favorable timing-related change in accounts payable and accrued expenses. Also contributing to the decrease in operating cash flows was an unfavorable change in net income taxes payable. Cash flows used for investing activities increased $57 million in comparison to the prior-year period, primarily due to cash paid for the acquisition of Eventscape, partially offset by an increase in dividends from WAVE.

**Share Repurchase Program**

In the first quarter of 2026, we repurchased 0.3 million shares of common stock for a total cost of $60 million, excluding the cost of commissions and taxes, or at an average price of $176.00 per share. As of March 31, 2026, there was $473 million remaining under our Board of Directors' current authorized share repurchase program\*\*.

\*\* In July 2016, our Board of Directors approved our share repurchase program authorizing us to repurchase outstanding shares of common stock (the "Program"). Since inception of the Program, this authorization has been increased to permit repurchases of up to an aggregate of $1,700 million of our outstanding shares of common stock through December 2026. Since inception and through March 31, 2026, we have repurchased 15.7 million shares under the Program for a total cost of $1,227 million, excluding commissions and taxes, or an average of $77.89 per share.

**Maintaining 2026 Outlook**

"While first quarter topline results were solid in both segments, we faced margin pressure in Architectural Specialties primarily due to short-term headwinds in the quarter," said Chris Calzaretta, AWI Senior Vice President and CFO. "Looking ahead, we expect profitability to improve sequentially and further accelerate in the second half of the year as we continue to execute our value creation drivers across the company. We remain confident in our outlook for the year and expect full-year margin expansion in both segments. We are also reaffirming our full-year Net Sales, Adjusted EBITDA and Adjusted Free Cash Flow guidance and are modestly increasing our Adjusted Diluted Net Earnings Per Share guidance to reflect acceleration in our share repurchases as we continue to deliver value for our shareholders."

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | For the Year Ended December 31, 2026 | For the Year Ended December 31, 2026 | For the Year Ended December 31, 2026 | For the Year Ended December 31, 2026 | For the Year Ended December 31, 2026 | For the Year Ended December 31, 2026 |
| (Dollar amounts in millions except per-share data) | 2025 Actual | Guidance | Guidance | Guidance | VPY Growth % | VPY Growth % | VPY Growth % |
| Net sales | $1621 | $1745 | to | $1785 | 8% | to | 10% |
| Adjusted EBITDA\* | $555 | $600 | to | $620 | 8% | to | 12% |
| Adjusted diluted net earnings per share\* | $7.41 | $8.15 | to | $8.45 | 10% | to | 14% |
| Adjusted free cash flow\* | $346 | $375 | to | $395 | 9% | to | 14% |

---

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**Earnings Webcast** 

Management will host a live webcast conference call at 10:00 a.m. ET today, to discuss first-quarter 2026 results. This event will be available on the Company's website. The call and accompanying slide presentation can be found on the investor relations section of the Company's website at www.armstrong.com. The replay of this event will be available on the website for up to one year after the date of the call.

**Uncertainties Affecting Forward-Looking Statements**

Disclosures in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, those relating to future financial and operational results, market and broader economic conditions and guidance. Those statements provide our future expectations or forecasts and can be identified by our use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "outlook," "target," "predict," "may," "will," "would," "could," "should," "seek," and other words or phrases of similar meaning in connection with any discussion of future operating or financial performance. This includes annual guidance. Forward-looking statements, by their nature, address matters that are uncertain and involve risks because they relate to events and depend on circumstances that may or may not occur in the future. As a result, our actual results may differ materially from our expected results and from those expressed in our forward-looking statements. A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated or implied is included in the "Risk Factors" and "Management's Discussion and Analysis" sections of our reports on Form 10-K and Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC"), including our quarterly report for the quarter ended March 31, 2026, that the Company expects to file today. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update any forward-looking statements beyond what is required under applicable securities law.

**About Armstrong and Additional Information**

Armstrong World Industries, Inc. (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. For more than 165 years, Armstrong has delivered products and capabilities that enable architects, designers and contractors to transform building design and construction with elevated aesthetics, acoustics and sustainable attributes. With $1.6 billion in revenue in 2025, AWI has approximately 4,000 employees and a manufacturing network of 24 facilities, plus seven facilities dedicated to its WAVE joint venture.

More details on the Company's performance can be found in its report on Form 10-Q for the quarter ended March 31, 2026, that the Company expects to file with the SEC today.

**Contact**

Investors & Media: Theresa Womble, VP, Investor Relations and Corporate Communications

tlwomble@armstrong.com or (717) 396-6354

Investors: Morgan Leitzel, Manager, Investor Relations

mcleitzel@armstrong.com or (717) 396-2240

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**<u>Reported Financial Results</u>**

(Amounts in millions, except per share data)

SELECTED FINANCIAL RESULTS

Armstrong World Industries, Inc. and Subsidiaries

(Unaudited)

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| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| Net sales | $409.9 | $382.7 |
| Cost of goods sold | 254.6 | 232.8 |
| Gross profit | 155.3 | 149.9 |
| Selling, general and administrative expenses | 88.4 | 78.0 |
| Equity (earnings) from unconsolidated affiliates, net | (27.3) | (26.6) |
| Operating income | 94.2 | 98.5 |
| Interest expense | 7.3 | 8.5 |
| Other non-operating (income), net | (1.5) | (0.7) |
| Earnings before income taxes | 88.4 | 90.7 |
| Income tax expense | 21.6 | 21.6 |
| Net earnings | $66.8 | $69.1 |
| Diluted net earnings per share of common stock | $1.55 | $1.58 |
| Average number of diluted common shares outstanding | 43.2 | 43.8 |

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SEGMENT RESULTS

Armstrong World Industries, Inc. and Subsidiaries

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| <u>Net Sales</u> |  |  |
| Mineral Fiber | $257.2 | $245.1 |
| Architectural Specialties | 152.7 | 137.6 |
| Total net sales | $409.9 | $382.7 |
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| <u>Segment operating income (loss)</u> |  |  |
| Mineral Fiber | $85.5 | $84.5 |
| Architectural Specialties | 9.3 | 14.8 |
| Unallocated Corporate | (0.6) | (0.8) |
| Total consolidated operating income | $94.2 | $98.5 |

---

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SELECTED BALANCE SHEET INFORMATION

Armstrong World Industries, Inc. and Subsidiaries

---

| | | |
|:---|:---|:---|
|  | Unaudited<br>March 31, 2026 | December 31, 2025 |
| <u>Assets</u> |  |  |
| Current assets | $402.4 | $391.5 |
| Property, plant and equipment, net | 624.4 | 630.7 |
| Other non-current assets | 959.1 | 902.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1985.9 | $1924.7 |
| <u>Liabilities and shareholders' equity</u> |  |  |
| Current liabilities | $262.1 | $267.4 |
| Non-current liabilities | 830.9 | 756.6 |
| Shareholders' equity | 892.9 | 900.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $1985.9 | $1924.7 |

---

SELECTED CASH FLOW INFORMATION

Armstrong World Industries, Inc. and Subsidiaries

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| Net earnings | $66.8 | $69.1 |
| Other adjustments to reconcile net earnings to net cash provided by operating activities | 6.3 | 5.5 |
| Changes in operating assets and liabilities, net | (41.0) | (33.6) |
| Net cash provided by operating activities | 32.1 | 41.0 |
| Net cash (used for) provided by investing activities | (51.4) | 6.0 |
| Net cash (used for) financing activities | (13.2) | (43.6) |
| Effect of exchange rate changes on cash and cash equivalents | (0.4) | 0.1 |
| Net (decrease) increase in cash and cash equivalents | (32.9) | 3.5 |
| Cash and cash equivalents at beginning of year | 112.7 | 79.3 |
| Cash and cash equivalents at end of period | $79.8 | $82.8 |

---

------

**<u>Supplemental Reconciliations of GAAP to non-GAAP Results (unaudited)</u>**

(Amounts in millions, except per share data)

To supplement its consolidated financial statements presented in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company provides additional measures of performance adjusted to exclude the impact of certain discrete expenses and income including adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), adjusted diluted earnings per share ("EPS") and adjusted free cash flow. Investors should not consider non-GAAP measures as a substitute for GAAP measures. The Company excludes certain acquisition related expenses (i.e. impact of adjustments related to the fair value of inventory, third-party professional fees and changes in the fair value of contingent consideration for acquisitions). The Company also excludes all acquisition-related intangible amortization from adjusted net earnings and in calculations of adjusted diluted EPS. Examples of other excluded items have included plant closures, restructuring charges and related costs, separation costs and other cost reduction initiatives, environmental site expenses and environmental insurance recoveries, endowment level charitable contributions, the impact of defined benefit plan settlements, gains and losses on sales or impairment of fixed assets, and certain other gains and losses. The Company also excludes income/expense from its U.S. Retirement Income Plan ("RIP") in the non-GAAP results as it represents the actuarial net periodic benefit credit/cost recorded. For all periods presented, the Company was not required and did not make cash contributions to the RIP based on guidelines established by the Pension Benefit Guaranty Corporation, nor does the Company expect to make cash contributions to the plan in 2026. Adjusted free cash flow is defined as cash from operating and investing activities, adjusted to remove the impact of cash used or proceeds received for acquisitions and divestitures, environmental site expenses and environmental insurance recoveries. Management's adjusted free cash flow measure includes returns of investment from WAVE and cash proceeds received from the settlement of company-owned life insurance policies, which are presented within investing activities on our condensed consolidated statement of cash flows. The Company uses these adjusted performance measures in managing the business, including communications with its Board of Directors and employees, and believes that they provide users of this financial information with meaningful comparisons of operating performance between current results and results in prior periods. The Company believes that these non-GAAP financial measures are appropriate to enhance understanding of its past performance, as well as prospects for its future performance. The Company also uses adjusted EBITDA and adjusted free cash flow (with further adjustments, when necessary) as factors in determining at-risk compensation for senior management. These non-GAAP measures may not be defined and calculated the same as similar measures used by other companies. Non-GAAP financial measures utilized by the Company may not be comparable to non-GAAP financial measures used by other companies. A reconciliation of these adjustments to the most directly comparable GAAP measures is included in this release and on the Company's website. These non-GAAP measures should not be considered in isolation or as a substitute for the most comparable GAAP measures.

In the following charts, numbers may not sum due to rounding. Excluding adjusted diluted EPS, non-GAAP figures are rounded to the nearest million and corresponding percentages are rounded to the nearest percent based on unrounded figures.

------

**<u>Consolidated Results – Adjusted EBITDA</u>** 

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| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Net sales** | $**410** | $**383** |
| **Net earnings** | $**67** | $**69** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Income tax expense | 22 | 22 |
| **Earnings before income taxes** | $**88** | $**91** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Interest/other income and expense, net | 6 | 8 |
| **Operating income** | $**94** | $**99** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: RIP expense (1) | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Acquisition-related impacts (2) | 3 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Severance and cost reduction actions | 3 | - |
| **Adjusted operating income** | $**100** | $**99** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Depreciation and amortization | 30 | 29 |
| **Adjusted EBITDA** | $**130** | $**129** |
| **Operating income margin** | **23.0%** | **25.7%** |
| **Adjusted EBITDA margin** | **31.7%** | **33.6%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.RIP expense represents only the plan service cost that is recorded within Operating income. For all periods presented, we were not required to and did not make cash contributions to our RIP.

&nbsp;&nbsp;&nbsp;&nbsp;2.Represents the impact of third-party professional fees and changes in fair value of contingent consideration.

**<u>Mineral Fiber</u>**

---

| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Net sales** | $**257** | $**245** |
| **Operating income** | $**86** | $**85** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Severance and cost reduction actions | 2 | - |
| **Adjusted operating income** | $**87** | $**85** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Depreciation and amortization | 22 | 21 |
| **Adjusted EBITDA** | $**109** | $**105** |
| **Operating income margin** | **33.2%** | **34.5%** |
| **Adjusted EBITDA margin** | **42.4%** | **43.0%** |

---

**<u>Architectural Specialties</u>**

---

| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Net sales** | $**153** | $**138** |
| **Operating income** | $**9** | $**15** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Acquisition-related impacts (1) | 3 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Severance and cost reduction actions | 1 | - |
| **Adjusted operating income** | $**13** | $**15** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Depreciation and amortization | 8 | 9 |
| **Adjusted EBITDA** | $**21** | $**24** |
| **Operating income margin** | **6.1%** | **10.8%** |
| **Adjusted EBITDA margin** | **13.6%** | **17.1%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.Represents the impact of third-party professional fees and changes in fair value of contingent consideration.

------

**<u>Unallocated Corporate</u>**

---

| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Operating (loss)** | $**(1)** | $**(1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: RIP expense (1) | 1 | 1 |
| **Adjusted operating (loss)** | $**-** | $**-** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Depreciation and amortization | - | - |
| **Adjusted EBITDA** | $**-** | $**-** |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.RIP expense represents only the plan service cost that is recorded within Operating loss. For all periods presented, we were not required to and did not make cash contributions to our RIP.

**<u>Consolidated Results – Adjusted Free Cash Flow</u>**

---

| | | |
|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2025 |
| **Net cash provided by operating activities** | $**32** | $**41** |
| **Net cash (used for) provided by investing activities** | $**(51)** | $**6** |
| **Net cash (used for) provided by operating and investing activities** | $**(19)** | $**47** |
| &nbsp;&nbsp;Add: Acquisitions, net of cash acquired | 65 | - |
| &nbsp;&nbsp;Add: Contingent consideration in excess of acquisition-date fair value (1) | 2 | 1 |
| **Adjusted Free Cash Flow** | $**47** | $**48** |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.Contingent consideration payments related to acquisitions that were recorded as components of net cash provided by operating activities.

**<u>Consolidated Results – Adjusted Diluted Earnings Per Share (EPS)</u>**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | For the Three Months Ended March 31, | For the Three Months Ended March 31, | For the Three Months Ended March 31, | For the Three Months Ended March 31, | For the Three Months Ended March 31, | For the Three Months Ended March 31, |
|  | 2026 | 2026 | 2026 | 2025 | 2025 | 2025 |
|  | Total | Per Diluted<br>Share | Per Diluted<br>Share | Total | Per Diluted<br>Share | Per Diluted<br>Share |
| **Net earnings** | $**67** | **$** | **1.55** | $**69** | **$** | **1.58** |
| Add: Income tax expense | $22 |  |  | $22 |  |  |
| **Earnings before income taxes** | $**88** |  |  | $**91** |  |  |
| Add: Acquisition-related impacts (1) | 3 |  |  | - |  |  |
| Add: Acquisition-related amortization (2) | 4 |  |  | 4 |  |  |
| Add: Severance and cost reduction actions | 3 |  |  | - |  |  |
| **Adjusted net earnings before income taxes** | $**97** |  |  | $**96** |  |  |
| (Less): Adjusted income tax expense (3) | $(24) |  |  | $(23) |  |  |
| **Adjusted net earnings** | $**73** | **$** | **1.69** | $**73** | **$** | **1.66** |
| Adjusted diluted EPS change versus prior year |  | 1.8% | 1.8% |  |  |  |
| Diluted shares outstanding |  |  | 43.2 |  |  | 43.8 |
| Effective tax rate |  | 24% | 24% |  | 24% | 24% |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.Represents the impact of third-party professional fees and changes in fair value of contingent consideration.

&nbsp;&nbsp;&nbsp;&nbsp;2.Represents acquisition-related intangible amortization, including customer relationships, developed technology, software, trademarks and brand names, non-compete agreements and other intangibles.

&nbsp;&nbsp;&nbsp;&nbsp;3.Adjusted income tax expense is calculated using the effective tax rate multiplied by the adjusted net earnings before income taxes.

------

**<u>Adjusted EBITDA Guidance</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 |
|  | Low |  | High |
| **Net earnings** | $**339** | to | $**348** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Income tax expense | 113 |  | 116 |
| **Earnings before income taxes** | $**452** | to | $**464** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Interest expense | 27 |  | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Other non-operating (income), net | (5) |  | (4) |
| **Operating income** | $**474** | to | $**489** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: RIP expense (1) | 2 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Acquisition-related impacts (2) | 3 |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Severance and cost reduction actions | 3 |  | 3 |
| **Adjusted operating income** | $**481** | to | $**496** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Depreciation and amortization | 119 |  | 124 |
| **Adjusted EBITDA** | $**600** | **to** | $**620** |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.RIP expense represents only the plan service cost that is recorded within Operating income. We do not expect to make cash contributions to our RIP.

&nbsp;&nbsp;&nbsp;&nbsp;2.Represents the impact of third-party professional fees and changes in fair value of contingent consideration.

**<u>Adjusted Diluted Net Earnings Per Share Guidance</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 |
|  | Low | Per Diluted<br>Share<sup>(1)</sup> |  | High | Per Diluted<br>Share<sup>(1)</sup> |
| **Net earnings** | $**339** | $**7.84** | to | $**348** | $**8.11** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Income tax expense | 113 |  |  | 116 |  |
| **Earnings before income taxes** | $**452** |  | to | $**464** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Less): RIP (credit) (2) | (1) |  |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Acquisition-related amortization (3) | 14 |  |  | 16 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Acquisition-related impacts (4) | 3 |  |  | 3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Severance and cost reduction actions | 3 |  |  | 3 |  |
| **Adjusted earnings before income taxes** | $**470** |  | to | $**484** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Less): Adjusted income tax expense (5) | (117) |  |  | (121) |  |
| **Adjusted net earnings** | $**352** | $**8.15** | to | $**363** | $**8.45** |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.Adjusted diluted EPS guidance for 2026 is calculated based on approximately 43 million of diluted shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;2.RIP (credit) represents the entire actuarial net periodic pension (credit) to be recorded as a component of net earnings. We do not expect to make any cash contributions to our RIP.

&nbsp;&nbsp;&nbsp;&nbsp;3.Represents acquisition-related intangible amortization, including customer relationships, developed technology, software, trademarks and brand names, non-compete agreements and other intangibles.

&nbsp;&nbsp;&nbsp;&nbsp;4.Represents the impact of third-party professional fees and changes in fair value of contingent consideration.

&nbsp;&nbsp;&nbsp;&nbsp;5.Income tax expense is based on an adjusted effective tax rate of approximately 25%, multiplied by adjusted earnings before income taxes.

**<u>Adjusted Free Cash Flow Guidance</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 | For the Year Ending December 31, 2026 |
|  | Low |  | High |
| **Net cash provided by operating activities** | $**295** | to | $**317** |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Return of investment from joint venture | 114 |  | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Less): Capital expenditures | (100) |  | (110) |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Acquisitions, net of cash acquired | 65 |  | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;Add: Contingent consideration in excess of acquisition-date fair value (1) | 2 |  | 2 |
| **Adjusted Free Cash Flow** | $**375** | to | $**395** |

---

&nbsp;&nbsp;&nbsp;&nbsp;1.Contingent consideration payments related to acquisitions that were recorded as components of net cash provided by operating activities.

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## Exhibit 99.2

![Slide 1](awi-ex99_2s1.jpg)

1st Quarter 2026 Earnings Presentation April 28, 2026 Exhibit 99.2

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![Slide 2](awi-ex99_2s2.jpg)

Safe Harbor Statement Disclosures in this presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, those relating to future financial and operational results, market and broader economic conditions and guidance. Those statements provide our future expectations or forecasts and can be identified by our use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "outlook," "target," "predict," "may," "will," "would," "could," "should," "seek," and other words or phrases of similar meaning in connection with any discussion of future operating or financial performance. This includes annual guidance. Forward-looking statements, by their nature, address matters that are uncertain and involve risks because they relate to events and depend on circumstances that may or may not occur in the future. As a result, our actual results may differ materially from our expected results and from those expressed in our forward-looking statements. A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated or implied is included in the "Risk Factors" and "Management's Discussion and Analysis" sections of our reports on Form 10-K and Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC"), including our quarterly report for the three months ended March 31, 2026, that the Company expects to file today. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update any forward-looking statements beyond what is required under applicable securities law. In addition, we will be referring to non-Generally Accepted Accounting Principles ("GAAP") financial measures within the meaning of SEC Regulation G. A reconciliation of the differences between these measures with the most directly comparable financial measures calculated in accordance with GAAP are included within this presentation and available on the Investor Relations page of our website at www.armstrong.com. The guidance in this presentation is only effective as of the date given, April 28, 2026, and will not be updated or affirmed unless and until we publicly announce updated or affirmed guidance.

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![Slide 3](awi-ex99_2s3.jpg)

Basis of Presentation Explanation Results throughout this presentation are presented on a normalized basis. We remove the impact of certain discrete expenses and income in certain measures including adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), adjusted diluted earnings per share ("EPS") and adjusted free cash flow. The Company excludes certain acquisition related expenses (i.e. – impact of adjustments related to the fair value of inventory, third-party professional fees and changes in the fair value of contingent consideration for acquisitions). The Company also excludes all acquisition-related intangible amortization from adjusted net earnings and in calculations of adjusted diluted EPS. Examples of other excluded items have included plant closures, restructuring charges and related costs, impairments, separation costs and other cost reduction initiatives, environmental site expenses and environmental insurance recoveries, endowment level charitable contributions, the impact of defined benefit plan settlements, gains and losses on sales or impairment of fixed assets, and certain other gains and losses. The Company also excludes income/expense from its U.S. Retirement Income Plan ("RIP") in the non-GAAP results as it represents the actuarial net periodic benefit credit/cost recorded. For all periods presented, the Company was not required to and did not make cash contributions to the RIP based on guidelines established by the Pension Benefit Guaranty Corporation, nor does the Company expect to make cash contributions to the plan in 2026. Adjusted free cash flow is defined as cash from operating and investing activities, adjusted to remove the impact of cash used or proceeds received for acquisitions and divestitures, environmental site expenses and environmental insurance recoveries. Management's adjusted free cash flow measure includes returns of investment from the Worthington Armstrong Venture ("WAVE") and cash proceeds received from the settlement of company-owned life insurance policies, which are presented within investing activities on our consolidated statement of cash flows. Investors should not consider non-GAAP measures as a substitute for GAAP measures. Excluding adjusted diluted EPS, non-GAAP figures are rounded to the nearest million and corresponding percentages are based on unrounded figures. Operating Segments: "MF": Mineral Fiber, "AS": Architectural Specialties, "UC": Unallocated Corporate. We define "organic" as total company and/or AS results excluding the impact of the February 2026 acquisition of Event Scape Inc. and Eventscape U.S. Holdings Inc. (collectively, "Eventscape"), the December 2025 acquisition of FGM-Parallel LLC ("Parallel") and the September 2025 acquisition of Geometrik Manufacturing, Inc. ("Geometrik"). All dollar figures throughout the presentation are in $ millions, expect per share data, and all comparisons are versus prior year unless otherwise noted. Figures may not sum due to rounding.

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![Slide 4](awi-ex99_2s4.jpg)

GAAP and non-GAAP Financial Results AWI Consolidated Results Q1 2026 Q1 2025 Net sales $409.9 $382.7 Net earnings $66.8 $69.1 Operating income $94.2 $98.5 Adj. EBITDA\* $130 $129 Operating income margin (operating income % of net sales) 23.0% 25.7% Adj. EBITDA margin\* (Adj. EBITDA % of net sales) 31.7% 33.6% Diluted net earnings per share $1.55 $1.58 Adj. diluted net earnings per share\* $1.69 $1.66 Net cash (used for) provided by operating & investing activities ($19.3) $47.0 Adj. free cash flow\* $47 $48 Net cash provided by operating & investing activities % of net sales (4.7%) 12.3% Adj. free cash flow margin\* (Adj. free cash flow % of net sales) 11.5% 12.5% Segment Results Q1 2026 Q1 2025 MF AS UC MF AS UC Net sales $257.2 $152.7 - $245.1 $137.6 - Operating income (loss) $85.5 $9.3 ($0.6) $84.5 $14.8 ($0.8) Adj. EBITDA\* $109 $21 - $105 $24 - Operating income margin (Operating income % of net sales) 33.2% 6.1% NM 34.5% 10.8% NM Adj. EBITDA margin\* (Adj. EBITDA % of net sales) 42.4% 13.6% NM 43.0% 17.1% NM \*Non-GAAP measure. See appendix for reconciliation to nearest GAAP measure. "NM": Not meaningful.

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![Slide 5](awi-ex99_2s5.jpg)

$410M (+7% VPY) Net Sales $130M (+1% VPY) Adj. EBITDA\* $1.69 (+2% VPY) Adj. Diluted EPS\* $47M (-1% VPY) Adj. Free Cash Flow\* 1st Quarter 2026 Key Takeaways Solid Sales Growth with Muted Adj. EBITDA\* Growth \*Non-GAAP measure. See appendix for reconciliation to nearest GAAP measure. 1. Average Unit Value ("AUV"). Includes both like-for-like price and mix impacts. \| 2. Recent acquisitions include Eventscape, Parallel and Geometrik. Net Sales up 7% and Adj. EBITDA\* up 1%Total company Adj. EBITDA margin\* of 31.7% impacted primarily by short-term headwinds in the Architectural Specialties segment Mineral Fiber segment Adj. EBITDA\* up 4%Adj. EBITDA margin\* of 42.4%, with strong AUV1 and positive volumes Architectural Specialties segment Adj. EBITDA\* down 12%Double-digit AS sales driven by solid organic growth and recent acquisitions2; AS Organic Adj. EBITDA margin\* of 14.5% impacted by a non-recurring tariff adjustment 2026 Guidance Update Continue to expect 8% to 10% Net Sales growth, 8% to 12% Adj. EBITDA\* growth and 9% to 14% Adj. Free Cash Flow\* growth; Modestly raising Adj. Diluted EPS\* range to 10% to 14% growth driven by higher share repurchases

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![Slide 6](awi-ex99_2s6.jpg)

Mineral Fiber Q1 2026 Results AUV Growth and Positive Volume Drive Strong Results Net Sales Growth VPY Q1 Mineral Fiber Key Highlights ● Top-line AUV growth of 4% primarily driven by favorable like-for-like price ● Slightly positive volume driven by solid commercial execution in a flattish market ● Higher input costs primarily due to raw material and energy inflation and unfavorable inventory valuation impacts ● Increase in SG&A primarily driven by lower deferred compensation gains ● Adj. EBITDA margin\* of 42.4% Adj. EBITDA\* VPY Q1 2025 Adj. EBITDA\* $105 AUV 9 Volume 1 Manufacturing1 (1) Input Costs2 (3) SG&A1 (2) WAVE Equity Earnings 1 2026 Adj. EBITDA\* $109 % Change 4% +5% \*Non-GAAP measure. See appendix for reconciliation to nearest GAAP measure. Excludes the change in depreciation and amortization throughout the presentation. Includes raw material, energy and freight impacts, in addition to inventory valuation impacts.

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![Slide 7](awi-ex99_2s7.jpg)

Architectural Specialties Q1 2026 Results Sales Growth with Earnings Primarily Impacted by Short-Term Headwinds Adj. EBITDA\* VPY Q1 2025 Adj. EBITDA\* $24 Sales 7 Manufacturing1 (7) SG&A1 (3) 2026 Adj. EBITDA\* $21 % Change (12%) Q1 Architectural Specialties Key Highlights ● Sales growth driven by solid organic growth and recent acquisitions ● Manufacturing costs negatively impacted by a non-recurring tariff adjustment ● Increase in SG&A expenses primarily due to higher selling expenses in support of growth ● Recent acquisitions add incremental costs, as expected … $2M increase in manufacturing costs and $1M increase in SG&A expenses ● Adj. EBITDA margin\* of 13.6% and AS Organic Adj. EBITDA margin\* of 14.5% ● Strong order intake expected to support solid second-half organic growth Net Sales Growth VPY 11% \*Non-GAAP measure. See appendix for reconciliation to nearest GAAP measure. Excludes the change in depreciation and amortization throughout the presentation.

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![Slide 8](awi-ex99_2s8.jpg)

Q1 2026 Consolidated Company Key Metrics Strong Sales Growth with Earnings Pressured by Discrete Headwinds Q1 2025 Q1 2026 Variance Net Sales $383 $410 7% Adj. EBITDA\* $129 $130 1% Adj. EBITDA Margin\* (Adj. EBITDA % of Net Sales) 33.6% 31.7% (190bps) AWI Organic Adj. EBITDA Margin\* (Adj. EBITDA % of Net Sales) 33.6% 32.2% (140bps) Adj. Diluted Net Earnings Per Share\* $1.66 $1.69 2% 1 2 1 \*Non-GAAP measure. See appendix for reconciliation to nearest GAAP measure. Excludes the change in depreciation and amortization throughout the presentation. Includes raw material, energy and freight impacts, in addition to inventory valuation impacts.

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![Slide 9](awi-ex99_2s9.jpg)

Adjusted Free Cash Flow\* Funds All Capital Allocation Priorities Q1 2026 Capital Deployment Q1 2026 Adj. Free Cash Flow\* Down 1% vs PY \*Non-GAAP measure. See appendix for reconciliation to nearest GAAP measure. Includes cash earnings, working capital, and other current assets and liabilities and proceeds from company-owned officer life insurance. 2025 Adj. Operating cash flow and other1 CapEx Interest Paid WAVE Dividends 2026

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![Slide 10](awi-ex99_2s10.jpg)

Expecting strong growth across all key metrics Updated Full Year 2026 Guidance Commentary1 $1,745M to $1,785M 8% to 10% YoY Net Sales Prior: $8.05 to $8.35 9% to 13% YoY Adjusted Diluted EPS\* $600M to $620M 8% to 12% YoY Adjusted EBITDA\* $375M to $395M 9% to 14% YoY Adjusted Free Cash Flow\* Expect Mineral Fiber volume flat to up 1% on slightly improving market conditions and growth initiatives Expect Mineral Fiber AUV growth ~6% … delivering Adj. EBITDA Margin\* expansion WAVE equity earnings expected to grow mid-single digits Organic AS high-single-digit top line growth … Adj. EBITDA Margin\* of 19-20% Guidance includes recent acquisition of Eventscape … adds incremental Sales and Adj. EBITDA\* growth to Architectural Specialties \*Non-GAAP measure. See appendix for reconciliation to nearest GAAP measure. Additional assumptions available in the appendix of this presentation. $8.15 to $8.45 10% to 14% YoY

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![Slide 11](awi-ex99_2s11.jpg)

Appendix

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![Slide 12](awi-ex99_2s12.jpg)

Full Year 2026 Assumptions Segment Net Sales Adjusted EBITDA Margin Mineral Fiber 6% to 7% growth ~44% (prior: > 43.5%) Architectural Specialties Mid-teens % growth ~19% (prior: > 19%) Consolidated Metrics Full Year 2026 Capital expenditures $100M to $110M Depreciation and amortization $119M to $124M Interest expense $27M to $29M (prior: $25M to $28M) Book / cash tax rate ~25% / ~22% Shares outstanding ~43M (prior ~43 to 43.5M) Cash return of investment from joint venture $114M to $122M Shipping Days vs Prior Year 2025 2026 Q1 (1) - Q2 - - Q3 - - Q4 - - Full Year (1) - 12 \*Non-GAAP measure.

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![Slide 13](awi-ex99_2s13.jpg)

RIP expense represents only the plan service cost that is recorded within Operating income. For all periods presented, we were not required to and did not make cash contributions to our RIP. Represents the impact of third-party professional fees and changes in fair value of contingent consideration. Represents acquisition-related intangible amortization, including customer relationships, developed technology, software, trademarks and brand names, non-compete agreements and other intangibles. Adjusted income tax expense is calculated using the effective tax rate multiplied by the adjusted net earnings before income taxes. For the Three Months Ended March 31, 2026 2025 Net sales $410 $383 Net earnings $67 $69 Add: Income tax expense 22 22 Earnings before income taxes $88 $91 Add: Interest/other income and expense, net 6 8 Operating income $94 $99 Add: RIP expense1 1 1 Add: Acquisition-related impacts2 3 - Add: Severance and cost reduction actions 3 - Adjusted operating income $100 $99 Add: Depreciation and amortization 30 29 Adjusted EBITDA $130 $129 Operating income margin 23.0% 25.7% Adjusted EBITDA margin 31.7% 33.6% For the Three Months Ended March 31, 2026 2025 Net earnings $67 $69 Add: Income tax expense 22 22 Earnings before income taxes $88 $91 Add: Acquisition-related impacts2 3 - Add: Acquisition-related amortization3 4 4 Add: Severance and cost reduction actions 3 - Adjusted net earnings before income taxes $97 $96 (Less): Adjusted income tax expense4 (24) (23) Adjusted net earnings $73 $73 Diluted shares outstanding 43.2 43.8 Effective tax rate 24% 24% Diluted net earnings per share $1.55 $1.58 Adjusted diluted net earnings per share $1.69 $1.66 Adjusted EBITDA Reconciliation Adjusted Diluted EPS Reconciliation

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![Slide 14](awi-ex99_2s14.jpg)

Contingent consideration payments related to acquisitions that were recorded as components of net cash provided by operating activities. RIP expense represents only the plan service cost that is recorded within Operating income (loss). For all periods presented, we were not required to and did not make cash contributions to our RIP. Represents the impact of third-party professional fees and changes in fair value of contingent consideration. "NM": Not meaningful. For the Three Months Ended March 31, 2026 2025 Net cash provided by operating activities $32 $41 Net cash (used for) provided by investing activities ($51) $6 Net cash (used for) provided by operating and investing activities ($19) $47 Add: Acquisitions, net of cash acquired 65 - Add: Contingent consideration in excess of acquisition-date fair value1 2 1 Adjusted free cash flow $47 $48 For the Three Months Ended March 31, MF AS UC UNALLOCATED CORPORATE 2026 2025 2026 2025 2026 2025 Net sales $257 $245 $153 $138 - - Operating income (loss) $86 $85 $9 $15 ($1) ($1) Add: RIP expense2 - - - - 1 1 Add: Acquisition-related impacts3 - - 3 - - - Add: Severance and cost reduction actions 2 - 1 - - - Adjusted operating income $87 $85 $13 $15 - - Add: Depreciation and amortization 22 21 8 9 - - Adjusted EBITDA $109 $105 $21 $24 - - Operating income margin (Operating income % of net sales) 33.2% 34.5% 6.1% 10.8% NM NM Adjusted EBITDA margin (Adjusted EBITDA % of net sales) 42.4% 43.0% 13.6% 17.1% NM NM Adjusted Free Cash Flow Reconciliation Segment Adj. EBITDA Reconciliation

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![Slide 15](awi-ex99_2s15.jpg)

For the Three Months Ended March 31, Total AS Recent Acquisitions1 AS Organic UNALLOCATED CORPORATE 2026 2025 2026 2025 2026 2025 Net sales $153 $138 $5 - $147 $138 Operating income $9 $15 ($2) - $12 $15 Add: Acquisition-related impacts2 3 - 2 - 1 - Add: Severance and cost reduction actions 1 - - - 1 - Adjusted operating income $13 $15 ($1) - $14 $15 Add: Depreciation and amortization 8 9 - - 8 9 Adjusted EBITDA $21 $24 ($1) - $21 $24 Operating income margin (Operating income % of net sales) 6.1% 10.8% (45.6%) - 8.0% 10.8% Adjusted EBITDA margin (Adjusted EBITDA % of net sales) 13.6% 17.1% (10.7%) - 14.5% 17.1% AS Organic Adj. EBITDA Reconciliation Recent acquisitions include the February 2026 acquisition of Eventscape, the December 2025 acquisition of Parallel and the September 2025 acquisition of Geometrik. Represents the impact of third-party professional fees and changes in fair value of contingent consideration.

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![Slide 16](awi-ex99_2s16.jpg)

Recent acquisitions include the February 2026 acquisition of Eventscape, the December 2025 acquisition of Parallel and the September 2025 acquisition of Geometrik. RIP expense represents only the plan service cost that is recorded within Operating income. For all periods presented, we were not required to and did not make cash contributions to our RIP. Represents the impact of third-party professional fees and changes in fair value of contingent consideration. For the Three Months Ended March 31, Total AWI Recent Acquisitions1 AWI Organic UNALLOCATED CORPORATE 2026 2025 2026 2025 2026 2025 Net sales $410 $383 $5 - $405 $383 Operating income $94 $99 ($2) - $97 $99 Add: RIP expense2 1 1 - - 1 1 Add: Acquisition-related impacts3 3 - 2 - 1 - Add: Severance and cost reduction actions 3 - - - 3 - Adjusted operating income $100 $99 ($1) - $101 $99 Add: Depreciation and amortization 30 29 - - 30 29 Adjusted EBITDA $130 $129 ($1) - $130 $129 Operating income margin (Operating income % of net sales) 23.0% 25.7% (45.6%) - 23.9% 25.7% Adjusted EBITDA margin (Adjusted EBITDA % of net sales) 31.7% 33.6% (10.7%) - 32.2% 33.6% AWI Organic Adj. EBITDA Reconciliation

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Full Year 2026 Low High Net earnings $339 $348 Add: Income tax expense 113 116 Earnings before income taxes $452 $464 Add: Interest expense 27 29 Add: Other non-operating (income), net (5) (4) Operating income $474 $489 Add: RIP expense1 2 2 Add: Acquisition-related impacts2 3 3 Add: Severance and cost reduction actions 3 3 Adjusted operating income $481 $496 Add: Depreciation and amortization 119 124 Adjusted EBITDA $600 $620 RIP expense represents only the plan service cost that is recorded within Operating income. We do not expect to make cash contributions to our RIP. Represents the impact of third-party professional fees and changes in fair value of contingent consideration. Contingent consideration payments related to acquisitions that were recorded as components of net cash provided by operating activities. RIP (credit) represents the entire actuarial net periodic pension (credit) recorded as a component of net earnings. We do not expect to make any cash contributions to our RIP. Represents acquisition-related intangible amortization, including customer relationships, developed technology, software, trademarks and brand names, non-compete agreements and other intangibles. Adjusted income tax expense is based on an adjusted effective tax rate of approximately 25%, multiplied by adjusted earnings before income taxes. Adjusted diluted EPS guidance for 2026 is calculated based on approximately 43 million of diluted shares outstanding. 2026 Adj. EBITDA Guidance Reconciliation 17 Full Year 2026 Low High Net earnings $339 $348 Add: Income tax expense 113 116 Earnings before income taxes $452 $464 (Less): RIP (credit)4 (1) (1) Add: Acquisition-related amortization5 14 16 Add: Acquisition-related impacts2 3 3 Add: Severance and cost reduction actions 3 3 Adjusted earnings before income taxes $470 $484 (Less): Adjusted income tax expense6 (117) (121) Adjusted net earnings $352 $363 Diluted net earnings per share $7.84 $8.11 Adjusted diluted net earnings per share7 $8.15 $8.45 2026 Adj. Diluted EPS Guidance Reconciliation Full Year 2026 Low High Net cash provided by operating activities $295 $317 Add: Return of investment from joint venture 114 122 (Less): Capital expenditures (100) (110) Add: Acquisitions, net of cash acquired 65 65 Add: Contingent consideration in excess of acquisition-date fair value3 2 2 Adjusted Free Cash Flow $375 $395 2026 Adj. Free Cash Flow Guidance Reconciliation