Armstrong sales rise 5.1%

Armstrong World Industries, the flooring, ceiling, and wall manufacturer, reported third quarter 2017 net sales of $351.9 million — a 5.1% increase from third quarter 2016 sales of $334.9 million.

The Lancaster, Pa.-based company also reported an operating income of $69 million for the period, down 2.8% from an operating income of $71 million during the third quarter a year ago. Earnings from continuing operations declined 22.2% during the quarter to $43.5 million  from $55.9 million during the same period last year.

"We delivered a solid quarter with constant currency sales growth of 4% and adjusted EBITDA growth of 12%, overcoming one less business day and the impact of the hurricanes," Vic Grizzle, Armstrong CEO said in a press release issued by the company this morning.

The company noted that it reported an operating income decline over the prior year quarter, was partially driven by a $20.8 million accounting charge, from the partial settlement of a U.S. pension plan, along with higher manufacturing costs.