Sees FY23 revenue $1.26B-$1.31B, consensus $1.28B. "While we are encouraged by our first-quarter results, including adjusted free cash flow growth versus prior year, we acknowledge the challenging macroeconomic environment and expect weaker market conditions ahead for the rest of the year," said Chris Calzaretta, AWI CFO. "We are confident in the financial strength of our business and are maintaining our full-year 2023 outlook. We continue to be focused on executing our strategy, delivering manufacturing productivity, managing costs across the business and growing adjusted free cash flow. Our capital allocation strategy is unchanged, as we expect to continue to create long-term value for shareholders through reinvestment in our business, strategic partnerships and acquisitions, and returning excess cash to shareholders."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on AWI:
- Armstrong World Industries Reports First-Quarter 2023 Results
- Armstrong World Industries Announces Quarterly Dividend
- Armstrong World price target lowered to $87 from $90 at BofA
- Armstrong World Industries Schedules First-Quarter 2023 Earnings Release and Conference Call
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations