By early afternoon, shares had taken off 6.5% to $55.44. Trading volume of 1.9 million was more than double its three-month daily average.
The company, which produces construction supplies and fixtures, generated quarterly net income of 32 cents a share. Analysts surveyed by Thomson Reuters had expected net income of 41 cents a share.
Revenue of $661.3 million was 7.9% higher than a year earlier and beat consensus by $7 million."Fourth-quarter sales results were in the middle of our guidance range, while weaker-than-expected global flooring sales and continued lumber inflation resulted in adjusted EBITDA near the low-end of our guidance range," said CEO Matt Espe in a statement. "Despite this softness, both our global resilient flooring and ceilings businesses achieved the highest fourth-quarter adjusted EBITDA results since emergence." Must Read: Fannie Mae Keeps Shoveling Cash to the Government Must Read: 'Too Big to Fail' Gets Even Bigger
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates ARMSTRONG WORLD INDUSTRIES as a Buy with a ratings score of B+. The team has this to say about their recommendation: "We rate ARMSTRONG WORLD INDUSTRIES (AWI) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
- You can view the full analysis from the report here: AWI Ratings Report
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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