Armstrong World (AWI) Misses Q1 EPS by 6c, Revenue Beats

Armstrong World (NYSE: AWI) reported Q1 EPS of $0.84, $0.06 worse than the analyst estimate of $0.90. Revenue for the quarter came in at $251.9 million versus the consensus estimate of $241.83 million.

Market Outlook and 2021 Guidance:

“We continue to see market conditions steadily improve and are pleased to see the vaccination rollout across the US begin to allow more businesses to open their doors,” said Brian MacNeal, CFO of Armstrong. “Through our growth initiatives, including Healthy Spaces and kanopi, and the year-on-year benefit of our 2020 acquisitions, we are maintaining our 2021 guidance and expect to grow sales 10% to 13%, adjusted EBITDA 9% to 13%, to drive a free cash flow margin of 19% for the full fiscal year.”

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

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