Armstrong World Earnings Top, But Outlook Cloudy
Armstrong World Industries (AWI) said third-quarter earnings rose Monday on its cost-cutting efforts, but sales missed expectations. The maker of floors and ceilings said Q3 EPS jumped 12.8% to 97 cents, beating views by 7 cents. Revenue fell 10.2% to $694.7, below expectations of $740.1 million due to unfavorable foreign exchange rates from the strong dollar. In September, the company said it would sell its cabinets division to American
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