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    Fiona Chan

    seasoned analyst at Jefferies

    Fiona Chan is a seasoned analyst at Jefferies specializing in banking, finance, and technology sectors, with a focus on major international and Asian financial institutions as well as listed and private companies. She has a strong track record advising on complex credit lines, structured products, funds, ESG, and crypto financings, routinely delivering high-value insights for institutional clients and maintaining high success rates in offshore and onshore financial transactions. With nearly 25 years of experience, Chan has held senior roles across leading firms in Asia and advises on market laws in Bermuda, the British Virgin Islands, and the Cayman Islands. She holds multiple professional credentials and is recognized for her expertise in banking, finance, and securities, serving a broad client base since the late 1990s.

    Fiona Chan's questions to ARMSTRONG WORLD INDUSTRIES (AWI) leadership

    Fiona Chan's questions to ARMSTRONG WORLD INDUSTRIES (AWI) leadership • Q3 2024

    Question

    Fiona Chan asked about the outlook for market recovery heading into 2025 and how to think about the cadence of Mineral Fiber margin expansion next year.

    Answer

    CEO Vic Grizzle noted that positive new construction starts in 2024 could provide a tailwind in H2 2025, but renovation activity depends on broader economic confidence. CFO Chris Calzaretta reiterated that the algorithm for future margin expansion remains consistent: strong pricing, manufacturing productivity, and disciplined cost control.

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