Armstrong World Industries, Inc. (NYSE:AWI) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Armstrong World Industries, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 53.19% to $0.22 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Decreased 6.84% to $622.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Armstrong World Industries, Inc. reported adjusted EPS income of $0.22 per share. By that measure, the company missed the mean analyst estimate of $0.39. It missed the average revenue estimate of $633.24 million.
Quoting Management: “We delivered first quarter results in line with the expectations we outlined earlier this year, despite a continued choppy commercial market environment,” said Matt Espe, President and CEO. “We also achieved a significant milestone toward our growth initiatives in China as we commenced operations at our homogenous flooring and ceilings plants. Collectively, I`m proud that construction of these plants was completed with a perfect employee safety record and the plants were brought online as scheduled and on budget.”
Key Stats (on next page)…