Friday, December 14, 2012

Armstrong Garage Tiles

Armstrong Garage Tiles

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Armstrong World Industries Misses Q4 Estimates










Armstrong World Industries (NYSE:AWI) reported Q4 EPS of $0.16, missing consensus estimates of $0.29. Revenues for the quarter rose 1.4% year-over-year to $652.10 million, missing consensus estimates of $669.80 million.

Matt Espe, President and CEO said, "On an adjusted basis, total company EBITDA was up 9% from fourth quarter 2010 levels on relatively flat sales. We continue to operate in an unpredictable economic environment, yet in the fourth quarter still managed to grow sales in all geographies other than Europe. Uncertainty in our end markets has continued to impact demand, and as a result, we saw lower volumes across most of our businesses. Despite this, we have been able to drive earnings growth through the execution of our cost savings."

Armstrong World Industries (NYSE:AWI) has potential upside of 8.1% based on a current price of $49.63 and an average consensus analyst price target of $53.67.


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