Armstrong Flooring (AFI) Tops Q3 EPS by 5c; Trims FY16 Sales Growth Outlook
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Armstrong Flooring (NYSE: AFI) reported Q3 EPS of $0.39, $0.05 better than the analyst estimate of $0.34. Revenue for the quarter came in at $313.4 million versus the consensus estimate of $327.8 million.
Full Year 2016 Outlook
Jay Thompson, Chief Financial Officer, stated, “We are committed to driving bottom line improvement in our business by controlling costs and realizing the benefits of ongoing productivity initiatives. To that end, we are updating our full year 2016 adjusted EBITDA outlook to be in the range of $73 million to $78 million. We now expect adjusted net sales to be in the range of flat to up 1% compared to the prior year, mainly reflecting more challenging market conditions. We continue to expect to spend between $45 million to $50 million for capital expenditures, and are well positioned to generate positive free cash flow for the full year.”
For earnings history and earnings-related data on Armstrong Flooring (AFI) click here.
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