Armstrong Q2 sales and earnings rise
Armstrong World Industries reported net sales of $248.6 million for the second quarter 2018, up more than 10% compared to net sales of $225.6 million during the same period last year.
The Lancaster, Pa. based commercial and residential ceiling, wall and suspension system solutions manufacturer also reported a second quarter $47.3 million, rising nearly 15% from net earnings of $41.3 million in the second quarter 2017.
Consolidated net sales gains were driven by higher volumes in the company’s Mineral Fiber and Architectural Specialties segments.
“We had a solid second quarter with Mineral Fiber volumes bouncing back from weather-related issues in March, and continued strength from Architectural Specialties. In particular I’m pleased with our WAVE business, which achieved price over steel inflation and delivered quarterly equity earnings growth of over 20%.” said Vic Grizzle, president and CEO of Armstrong. “We also completed a strategic acquisition in the quarter with the purchase of Plasterform, which will improve our solutions portfolio.”
Today the company also announced that it was acquiring Columbus, Ohio-based Steel Ceilings, Inc., a maker of standard and custom aluminum and stainless metal ceilings.
The Lancaster, Pa. based commercial and residential ceiling, wall and suspension system solutions manufacturer also reported a second quarter $47.3 million, rising nearly 15% from net earnings of $41.3 million in the second quarter 2017.
Consolidated net sales gains were driven by higher volumes in the company’s Mineral Fiber and Architectural Specialties segments.
“We had a solid second quarter with Mineral Fiber volumes bouncing back from weather-related issues in March, and continued strength from Architectural Specialties. In particular I’m pleased with our WAVE business, which achieved price over steel inflation and delivered quarterly equity earnings growth of over 20%.” said Vic Grizzle, president and CEO of Armstrong. “We also completed a strategic acquisition in the quarter with the purchase of Plasterform, which will improve our solutions portfolio.”
Today the company also announced that it was acquiring Columbus, Ohio-based Steel Ceilings, Inc., a maker of standard and custom aluminum and stainless metal ceilings.