Armstrong Flooring, Inc. (NYSE:AFI) unwinded its second quarter earnings results on Wednesday 22nd July 2020 before market open.
The manufacturer of flooring products, reported $ 0.29 loss per share for the second quarter
On adjusted basis, Armstrong Flooring, Inc. reported loss for the quarter of $ 0.23 per share, beat the consensus estimate of $ 0.31 loss per share by $ 0.08 or 25.81 percent.
The firm had revenue of $ 145.60 million for the quarter, compared to the consensus estimate of $ 155.50 million. The revenues fell short of analysts estimates by $ 9.9 million or 6.37 percent.
The decrease in net sales was primarily attributable to lower volumes due to the COVID-19 pandemic and shelter-in-place related business disruptions, including the temporary closing of many independent customer retail locations and the postponement of certain commercial projects, partially offset by increased activity with home centers.
The financial report showed revenues shrunk 18.06 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
