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Last $54.92 USD
Change Today -1.07 / -1.91%
Volume 669.8K
AWI On Other Exchanges
New York
As of 8:04 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

armstrong world industries (AWI) Key Developments

Armstrong World Industries, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revises Earnings Guidance for the Year 2015

Armstrong World Industries, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $551.4 million compared to $590 million a year ago. Operating income was $35.8 million compared to $53.8 million a year ago. Net income was $3.8 million or $0.07 per diluted share compared to $18.1 million or $0.33 per diluted share a year ago. Excluding the unfavorable impact from foreign exchange of $20 million, net sales decreased 3.3% compared to the prior year period driven by lower volumes across all businesses which more than offset the impact from favorable price and mix. The decline in operating income and net income compared to the prior year period was impacted by higher non-cash U.S. Pension expense and separation costs related to the previously announced spin-off of the Flooring business. The declines in operating income and net income were also driven by the margin impact of lower volumes, increased SG&A expense and lower earnings from WAVE, which were only partially offset by favorable price and mix. The decline in net income was also impacted by state net operating loss write-offs as a result of a change in ownership under section 382 of the Internal Revenue Code in conjunction with the sale of stock by the Asbestos Trust in the first quarter of 2015. Adjusted EBITDA was $75 million compared to $83 million a year ago. Earnings before taxes, adjusted was $34 million compared to $39 million a year ago. Net earnings, adjusted were $21 million or $0.37 per share compared to $24 million or $0.43 per share a year ago. Free cash flow for the quarter was a use of $42 million, improved from last year by $14 million. Net debt was down $74 million driven by debt repayments. For the year 2105, EPS guidance is lowered by $0.05 as a result of the $3 million IRC Section 382 expense. The ranges for sales and EBITDA for the full year are unchanged from the initial guidance issued.

Armstrong World Industries, Inc. to Report Q1, 2015 Results on Apr 30, 2015

Armstrong World Industries, Inc. announced that they will report Q1, 2015 results at 10:00 AM, US Eastern Standard Time on Apr 30, 2015

Armstrong World Industries, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Armstrong World Industries, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Armstrong World Mulls Acquisitions

Armstrong World Industries, Inc. (NYSE:AWI) intends to use the net proceeds of any offering of securities for working capital and other general corporate purposes, which may include the repayment or refinancing of outstanding indebtedness and the financing of future acquisitions.

Armstrong World Industries, Inc. to Separate Flooring Business from its Ceilings Business; Appoints Vic Grizzle as CEO, Effective First Quarter of 2016

Armstrong World Industries, Inc. plans to separate the company's Flooring business from its Ceilings business, creating two independent publicly-traded companies. The separation is intended to be a tax-free spin-off of the Flooring business to the company's shareholders, and is expected to be completed in first quarter of 2016. Following the separation, AWI will be made up of the Armstrong Building Products unit. In 2014, Armstrong Building Products generated approximately $1.3 billion of revenue. The company will operate 22 manufacturing facilities in eight countries including the Worthington Armstrong Venture. The company announced that Vic Grizzle, CEO of Armstrong Building Products, will lead AWI as CEO.


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Valuation AWI Industry Range
Price/Earnings 35.6x
Price/Sales 1.3x
Price/Book 4.4x
Price/Cash Flow 33.1x
TEV/Sales 0.8x

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