Armstrong World (AWI) Tops Q3 EPS by 8c, Revenues Miss

Armstrong World (NYSE: AWI) reported Q3 EPS of $1.38, $0.08 better than the analyst estimate of $1.30. Revenue for the quarter came in at $277.1 million versus the consensus estimate of $290.65 million.

Key Highlights

• Net sales of $277.1 million, up 6% versus the prior year quarter
• Operating income of $113.3 million, up 39% versus the prior year quarter
• Adjusted EBITDA grew 13% versus the prior year quarter
• Adjusted EPS grew 20% versus the prior year quarter
• Quarterly cash dividend increased 14%

“This was another quarter of strong Architectural Specialties sales growth and Mineral Fiber operational performance,” said Vic Grizzle, President and CEO of AWI. “I’m also pleased to announce another acquisition, which will be our fifth in the last three years. With our robust pipeline, we expect our M&A activity to continue as we actively expand our strategic capabilities. As previously reported, our Board approved a 14% increase to our regular quarterly dividend, reflecting a vote of confidence in our significant free cash flow generation and our ability to continue to grow free cash flow at double digits.”

For earnings history and earnings-related data on Armstrong World (AWI) click here.

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