Armstrong World Industries Q1 sales up
Armstrong World Industries, the manufacturer of commercial and residential ceiling, wall and suspension system solutions, reported first quarter 2018 sales increased 3.4% to $227.3 million from first quarter 2017 sales of $219.8 million.
The Lancaster, Pa.-based company also reported first quarter net earnings of $27.8 million, down 8.6% from net earnings of $30.4 million in the first quarter a year ago.
"First quarter financial results were generally in line with our expectations, particularly in light of weather conditions," said Vic Grizzle, President and CEO of Armstrong. "I`m especially pleased with our Architectural Specialties business, which delivered a second consecutive quarter of greater than 20% organic growth and dramatically expanded profit margins.”
Net sales in Armstrong’s Architectural Specialties rose 22% to $36.6 million during the first quarter million from sales of $30 million in the same period last year.
But sales in the company’s Mineral Fiber segment were essentially flat, rising 0.5% to $190.7 million for the period from $198.8 million for the second quarter 2017.
The Lancaster, Pa.-based company also reported first quarter net earnings of $27.8 million, down 8.6% from net earnings of $30.4 million in the first quarter a year ago.
"First quarter financial results were generally in line with our expectations, particularly in light of weather conditions," said Vic Grizzle, President and CEO of Armstrong. "I`m especially pleased with our Architectural Specialties business, which delivered a second consecutive quarter of greater than 20% organic growth and dramatically expanded profit margins.”
Net sales in Armstrong’s Architectural Specialties rose 22% to $36.6 million during the first quarter million from sales of $30 million in the same period last year.
But sales in the company’s Mineral Fiber segment were essentially flat, rising 0.5% to $190.7 million for the period from $198.8 million for the second quarter 2017.