Armstrong Flooring's 2018 Sales Grew but Earnings Fell
Lancaster, PA, March 5, 2019--For 2018, Armstrong Flooring reported a 3.4% net sales increase YOY. Net loss for the year was $163.0 million, compared to a loss of $41.8 million in the prior year.
The company reported a net sales decrease of 3.5% YOY for Q4 2018. Net loss for the quarter was $171.0 million, compared to a net loss of $20.7 in Q4 2017.
Because Armstrong sold its hardwood business to American Industrial Partners on December 31, 2018, that business is now considered discontinued and is not included within the Q4 or 2018 results.
Don Maier, chief executive officer, commented, “During 2018, we grew sales on strong volume growth in luxury vinyl tile (“LVT”) as well as higher selling prices across many product categories…We are pleased to enter 2019 as a focused resilient flooring company with an attractive growth trajectory, stronger margin profile, and solid balance sheet.”
Related Topics:Armstrong Flooring