Armstrong Flooring (AFI) Misses Q4 EPS by 12c, Revenues Miss

Armstrong Flooring (NYSE: AFI) reported Q4 EPS of ($0.35), $0.12 worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $153.8 million versus the consensus estimate of $265.86 million.

Don Maier, Chief Executive Officer, commented, “During 2018, we grew sales on strong volume growth in Luxury Vinyl Tile (“LVT”) as well as higher selling prices across many product categories. Our full year Adjusted EBITDA from continuing operations improved by 3.3% helped by productivity gains and cost saving actions in the face of strong inflationary pressure. Fourth quarter 2018 results were impacted by soft end market demand, along with the timing of customer purchases in response to delayed U.S. tariff increases.”

Mr. Maier continued, “We are pleased to enter 2019 as a focused resilient flooring Company with an attractive growth trajectory, stronger margin profile, and solid balance sheet. Our efforts are concentrated on LVT leadership, which is supported by our growth strategy to drive innovation across our award-winning product portfolio, strengthen our distribution partnerships, and leverage our strong positions in our other commercial categories. We believe we are now positioned to generate improved results in 2019 and beyond.”

For earnings history and earnings-related data on Armstrong Flooring (AFI) click here.

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