Armstrong World Industries, Inc. (NYSE:AWI) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Armstrong World Industries, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 12.68% to $0.62 in the quarter versus EPS of $0.71 in the year-earlier quarter.
Revenue: Decreased 0.46% to $706.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Armstrong World Industries, Inc. reported adjusted EPS income of $0.62 per share. By that measure, the company missed the mean analyst estimate of $0.64. It beat the average revenue estimate of $693.17 million.
Quoting Management: “Our second quarter consolidated results met our expectations, as sales and adjusted EBITDA were in the middle of our guidance range,” said Matt Espe, CEO. “We continue to make strategic investments in the business to support organic growth and I’m pleased to announce that our Board of Directors has approved an investment that will allow us to domestically manufacture luxury vinyl tile, an important growth category that we currently source overseas.”
Key Stats (on next page)…
Revenue increased 13.55% from $622.3 million in the previous quarter. EPS increased 181.82% from $0.22 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.00 to a profit $0.99. For the current year, the average estimate has moved down from a profit of $2.49 to a profit of $2.31 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)