Armstrong Q4 sales, profits rise

Armstrong World Industries reported consolidated net sales increased 9.1% for the fourth quarter 2017 to $214.3 million from fourth quarter 2016 sales of $196.4 million.

The Lancaster, Pa.-based commercial and residential ceiling, wall and suspension system manufacturer also reported full year 2017 sales increased 6.7% to $893.6 million from 2016 sales of $837.3 million.

Armstrong posted net earnings of $33.7 million for the quarter, up 24% from net earnings for $27.1 million in the fourth quarter 2016.

The company also reported net earnings of $154.8 million for 2017 – a 48% increase from net earnings of $104.7 million in 2016.

“In many ways, 2017 was a transformational year for AWI. Total company sales growth accelerated to 7% after five years of averaging less than 3% growth. Additionally, in November, we entered into an agreement to sell our EMEA and Pacific Rim businesses to Knauf, with an expectation to close in mid-2018,” said Vic Grizzle, Armstrong CEO. “The pending sale, coupled with the completion of our advanced manufacturing investments, will benefit Armstrong for years to come as we further accelerate top and bottom line performance.”