Ceiling and wall solutions company Armstrong World Industries (NYSE: AWI) will be announcing earnings results tomorrow before the bell. Here’s what investors should know.
Armstrong World beat analysts’ revenue expectations by 4.4% last quarter, reporting revenues of $367.7 million, up 17.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and full-year revenue guidance exceeding analysts’ expectations.
Is Armstrong World a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Armstrong World’s revenue to grow 13.4% year on year to $370 million, improving from the 5.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.53 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Armstrong World has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Armstrong World’s peers in the building products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Carlisle posted flat year-on-year revenue, beating analysts’ expectations by 0.6%, and Valmont reported flat revenue, falling short of estimates by 0.6%. Carlisle traded up 6.1% following the results while Valmont was also up 6.5%.
Read our full analysis of Carlisle’s results here and Valmont’s results here.
Investors in the building products segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. Armstrong World is down 5% during the same time and is heading into earnings with an average analyst price target of $159.75 (compared to the current share price of $133.87).
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