Armstrong World Industries, Inc. (AWI) Tops Q3 EPS by 2c; Lowers FY11 EBITDA Outlook
Armstrong World Industries, Inc. (NYSE: AWI) reported Q3 EPS of $0.86, $0.02 better than the analyst estimate of $0.84. Revenue for the quarter came in at $773.6 million versus the consensus estimate of $778.52 million.
Sees FY2011 revenue of $2.850-$2.900 billion, versus the consensus of $2.89 billion.
The company is updating its previous 2011 net sales and EBITDA guidance from its previously communicated range. Embedded in this update is a forecast for organic growth of slightly less than 4% for the full year, down from its previous expectation of 6%. This update is largely driven by reduced volumes in its domestic residential businesses and modest softness in European commercial markets.
Sees FY2011 revenue of $2.850-$2.900 billion, versus the consensus of $2.89 billion.
The company is updating its previous 2011 net sales and EBITDA guidance from its previously communicated range. Embedded in this update is a forecast for organic growth of slightly less than 4% for the full year, down from its previous expectation of 6%. This update is largely driven by reduced volumes in its domestic residential businesses and modest softness in European commercial markets.