Armstrong World Industries Issues Upbeat Sales Guidance After 4Q Revenue Rises

Published: Feb. 20, 2024 at 6:35 a.m. ET

By Will Feuer

Armstrong World Industries issued upbeat sales guidance for 2024 after its revenue rose in the fourth quarter.

The company, which makes wall and ceiling systems, reported a fourth-quarter profit of $46.8 million, or $1.06 a share, compared with $48.8 million, or $1.07 a share, in the same period a year earlier.

Adjusted…

By Will Feuer

Armstrong World Industries issued upbeat sales guidance for 2024 after its revenue rose in the fourth quarter.

The company, which makes wall and ceiling systems, reported a fourth-quarter profit of $46.8 million, or $1.06 a share, compared with $48.8 million, or $1.07 a share, in the same period a year earlier.

Adjusted earnings were $1.22 a share. Analysts surveyed by FactSet had expected $1.04 a share.

Sales rose less than 3% to $312.3 million. Analysts were expecting $305.2 million. Sales were lifted by both higher prices and volume, as well as from recent acquisitions.

For 2024, the company is targeting sales of $1.335 billion to $1.375 billion, above the $1.33 billion that analysts had expected. Armstrong World expects adjusted earnings to be $5.60 a share to $5.90 a share. Analysts expect $5.61 a share.

Write to Will Feuer at Will.Feuer@wsj.com

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