Armstrong World Industries results beat estimates

LANCASTER, Pa. ― Armstrong World Industries reported Q3 earnings of $1.38 per share, ahead of the Zacks Consensus Estimate of $1.30 per share. For the comparable period of 2018, earnings were just $1.11 per share. Operating income soared to $113.3 million from the $81.3 million reported a year ago.  Sales rose by 6.4% to $277.1 million, compared with $260.5 million in Q3 of last year. At the same time, Armstrong announced it has reached an agreement to purchase MRK Industries, a manufacturer of specialty metal ceilings and walls with annual revenues of approximately $14 million. That transaction is expected to close in the fourth quarter.