Armstrong Flooring (AFI) Posts Wider-than-Expected Q4 Loss
Zacks Investment Research | Mar 06, 2019 02:30AM ET
Armstrong Flooring, Inc. (NYSE:AFI) reported fourth-quarter 2018 results, wherein loss of 35 cents per share was nearly two times wider than the Zacks Consensus Estimate of 18 cents. However, the reported loss narrowed from the year-ago level of 68 cents.
Net sales of $153.8 million lagged the consensus mark of $165.8 million by 7.2%. The reported figure also decreased 3.5% from $159.4 million in the prior-year quarter. The dismal top-line performance was mainly due to lower volumes. A decline in volume during the quarter was mainly due to significant customer purchases in the third quarter, in response of a projected price rise in October 2018.
Consequently, shares of the company declined nearly 5% during yesterday’s trading session.
Adjusted EBITDA came in at $1.8 million in the quarter, down 63.3% from $4.9 million in the prior-year period. Adjusted EBITDA margin contracted 190 basis points to 1.2%. The fall was mainly due to lower sales and higher material cost inflation.
Armstrong Flooring, Inc. Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.