Armstrong reports strong Q1
Armstrong World Industries (AWI) – the manufacturer of ceiling, wall and suspension systems – reported first quarter 2019 sales increased 6.5% to $242.1 million from sales of $227.3 million for the same period a year ago.
The Lancaster, Pa.-based company also reported net earnings of $39.1 million for the quarter, up nearly 41% from net earnings of $27.8 million in the first quarter 2018. AWI’s operating income increased 10% to $54.7 million.
Growth for the quarter was driving by higher volumes in Armstrong’s architectural specialties segment, as well as higher mineral fiber average unit value (AUV), AWI said.
Company president and CEO Vic Grizzle also pointed to increased productivity as part of Armstrong’s success in the quarter.
The Lancaster, Pa.-based company also reported net earnings of $39.1 million for the quarter, up nearly 41% from net earnings of $27.8 million in the first quarter 2018. AWI’s operating income increased 10% to $54.7 million.
Growth for the quarter was driving by higher volumes in Armstrong’s architectural specialties segment, as well as higher mineral fiber average unit value (AUV), AWI said.
Company president and CEO Vic Grizzle also pointed to increased productivity as part of Armstrong’s success in the quarter.