Armstrong World Industries Reports First Quarter 2020 Results
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Armstrong World (AWI) Misses Q1 EPS by 1c, Revenues Miss; Withdrawing & Suspending FY20 Guidance Due to COVID-19
April 27, 2020 6:03 AM EDTArmstrong World (NYSE: AWI) reported Q1 EPS of $1.10, $0.01 worse than the analyst estimate of $1.11. Revenue for the quarter came in at $248.7 million versus the consensus estimate of $251.6 million.
Key Highlights
Net sales of $248.7 million, up 3% versus the prior year quarterOperating income of $76.0 million, up 39% versus the prior year quarter$1 billion pension risk transfer results in $374.4 million non-cash charge to non-operating incomeAdjusted EBITDA and EPS grew 5% and 10%, respectively, versus the prior year quarterWithdrawing and suspending 2020... More