Yahoo Finance Armstrong World (AWI) Reports Earnings Tomorrow: What To Expect
Ceiling and wall solutions company Armstrong World Industries (NYSE:AWI) will be announcing earnings results tomorrow before market open. Here's what to look for.
Armstrong World beat analysts' revenue expectations by 2.1% last quarter, reporting revenues of $326.3 million, up 5.2% year on year. It was an impressive quarter for the company, with full-year revenue guidance exceeding analysts' expectations and a solid beat of analysts' organic revenue estimates.
Is Armstrong World a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Armstrong World's revenue to grow 10.8% year on year to $360.4 million, improving from the 1.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.55 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Armstrong World has missed Wall Street's revenue estimates three times over the last two years.
Looking at Armstrong World's peers in the building products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carlisle delivered year-on-year revenue growth of 11%, meeting analysts' expectations, and Valmont reported flat revenue, in line with consensus estimates. Carlisle's stock price was unchanged after the results, while Valmont was up 10.5%.
Read our full analysis of Carlisle's results here and Valmont's results here.
There has been positive sentiment among investors in the building products segment, with share prices up 10.9% on average over the last month. Armstrong World is up 17.2% during the same time and is heading into earnings with an average analyst price target of $126.5 (compared to the current share price of $130.59).
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