Armstrong Flooring (AFI) Misses Q4 EPS by 44c, Revenues Miss

Armstrong Flooring (NYSE: AFI) reported Q4 EPS of ($1.05), $0.44 worse than the analyst estimate of ($0.61). Revenue for the quarter came in at $141.3 million versus the consensus estimate of $142.25 million.

Michel Vermette, President and Chief Executive Officer, commented, “Fourth quarter results were softer year-over year, in line with our expectations. Moving into 2020, we have begun to execute our multi-year plan to expand, simplify and strengthen our business to generate stronger performance and augment the trajectory of our long-term profitability.”

Mr. Vermette concluded, “We are pleased to unveil our strategic roadmap to simultaneously address the challenges impacting our business, while positioning ourselves to better serve all addressable customers. I am confident that our company will become more lean, agile and profitable with this customer-focused strategy to transform and modernize the way we do business. While 2020 will be a transitional year as we lay the foundation of our growth pillars, we look forward to advancing our strategy and delivering great value for our shareholders in the years ahead.”

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

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