Armstrong World Industries beats by $0.16, misses on revs; reaffirms FY19 revs guidance
- Reports Q1 (Mar) earnings of $1.10 per share, $0.16 better than the S&P Capital IQ Consensus of $0.94; revenues rose 6.5% year/year to $242.1 mln vs the $247.38 mln S&P Capital IQ Consensus.
- Co reaffirms guidance for FY19, sees FY19 revs of +7-10% yr/yr to ~$1.04-1.07 bln vs. $1.07 bln S&P Capital IQ Consensus.
- Co also continues to expect economic conditions in 2019 to be similar to 2018.
- 2019 guidance is unchanged and we anticipate sales growth of 7%-10% and adjusted EBITDA growth of greater than 10%