Earnings To Watch: Armstrong World (AWI) Reports Q3 Results Tomorrow

StockStory
28 Oct 2024
Earnings To Watch: Armstrong World (AWI) Reports Q3 Results Tomorrow

Ceiling and wall solutions company Armstrong World Industries (NYSE:AWI) will be reporting results tomorrow morning. Here’s what to look for.

Armstrong World beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $365.1 million, up 12.2% year on year. It was a strong quarter for the company, with full-year revenue and EPS guidance beating analysts’ expectations.

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 11.3% year on year to $386.7 million, improving from the 6.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.75 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 materials segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Valmont’s revenues decreased 2.9% year on year, meeting analysts’ expectations, and Carlisle reported revenues up 5.9%, falling short of estimates by 3.3%. Valmont traded up 10.5% following the results while Carlisle was down 9.1%.

Read our full analysis of Valmont’s results here and Carlisle’s results here.

Investors in the building materials segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. Armstrong World is up 3.6% during the same time and is heading into earnings with an average analyst price target of $139.25 (compared to the current share price of $136.19).

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