Armstrong Reports Q2 Earnings of $23.9 Million

Lancaster, PA, July 30, 2015--Armstrong World Industries (AWI) reported second quarter earnings of $23.9 million. Operating income fell 0.8% to $63.1 million compared to the same period in 2014, affected mainly by higher U.S. Pension espense and costs associated with the separation of the ceiling and flooring businesses.

Net sales of resilient flooring were up 1.9% to $199.9 million in the second quarter from $196.2 million in the same quarter of 2014, driven by strong volume growth in the Americas commercial business.

Wood flooring sales fell 9.1% to $126.7 million in the second quarter from $139.4 million in second quarter 2014 due to lower volume at home centers and inventory availability issues in the engineered hardwood category.

Earnings per share of AWI stock rose to $0.53, 10.4% over 2014, but below an anticipated $0.55 per share. Shares have gained 9% so far in 2015 and 13% during the last 12 months.