Armstrong results plummet

LANCASTER, Penn. — Armstrong World Industries took a heavy hit in Q1, with operating income falling 34% to $35.8 million, largely due to higher non-cash U.S. pension expense and separation costs related to the spinoff of the company’s flooring business. Adjusted earnings before interest were $75 million, a drop of 10%. The board has named Larry McWilliams to head up Armstrong Flooring after its separation is completed, while Jim O’Connor will remain chairman of Armstrong Enterprises.