Armstrong moves the needle back in Q3

Armstrong World Industries inched backward 0.3% in the third quarter, which would have been a gain of 1.7% without the unfavorable impact of foreign exchange.

The revenue gains were driven by improvement in average sales dollars per unit sold in all regions. Lower volumes in the Pacific Rim and Americas were partially offset by higher volumes in Europe (including Russia), Middle East and Africa ("EMEA").

Total net sales for the three months ended Sept. 30 were $334.9 million, up 0.3% year-over-year.

Net earnings were $70.6 million, up from $31.8 million the year prior.

"While third quarter sales globally were up 2% excluding the impact of foreign exchange, sales in our U.S. commercial channel were up 5%," said Vic Grizzle, CEO.  "Our solutions selling efforts helped to accelerate our AUV achievement this quarter, driven by continued strong growth in high end products and positive like-for-like pricing."

Armstrong also updated its 2016 guidance, narrowing its expected ranges for the 2016 full-year period to adjusted EBITDA of $1.24 to $1.27 billion, and constant currency sales of $315 to $325 million.

Additionally, the previous quarter's results reflect the recent separation of the flooring business (Armstrong Flooring). AFI's historical results are now reflected in AWI's Consolidated Financial Statements as a discontinued operation and are excluded from results of continuing operations.