Armstrong World Industries Earnings: Here’s Why Shares are Down Now
Armstrong World Industries, Inc. (NYSE:AWI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 4.62%.
Armstrong World Industries, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 112.5% to $0.34 in the quarter versus EPS of $0.16 in the year-earlier quarter.
Revenue: Decreased 6.03% to $612.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Armstrong World Industries, Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.32. It beat the average revenue estimate of $610.32 million.
Quoting Management:“Given the macro-economic backdrop and the lag between starts and when our products get installed in the cycle, our outlook for 2013 remains tempered, but I`m confident we`ve built a competitive cost structure and our strategic investments in emerging markets, like China and Russia, will position Armstrong to capitalize on improving economic conditions as world economies begin to recover,” said Tom Mangas, Senior Vice President and CFO.”
Key Stats (on next page)…