Armstrong Flooring’s third quarter net sales increased 7.6% to $ 168.5 million

Armstrong FloorThe Company’s net sales in 3Q 2021 increased 7.6% to $ 168.5 million from $ 156.6 million in 3Q 2020, reflecting the growth of the Company’s business in North America, in China and Australia.

The operating loss in 3Q 2021 was $ 28.8 million compared to a loss of $ 10.1 million in 3Q 2020, mainly due to the cumulative inflation of the costs of its products as well as the increase in domestic and ocean freight, which continued to exceed pricing measures, resulting in lower gross margin. compared to the previous year.

The net loss in Q3 2021 was $ 29.7 million, or a diluted loss per share of $ 1.34, compared to a net loss of $ 11.7 million, or a diluted loss per share of 0, $ 53, as of Q3 2020. Adjusted net loss was $ 31 million, or adjusted diluted. loss per share of $ 1.40, compared to an adjusted net loss of $ 11.3 million, or an adjusted diluted loss per share of $ 0.51, in the prior year quarter.

3Q 2021 Adjusted EBITDA was a loss of $ 17.9 million, compared to Adjusted EBITDA of $ 2.8 million in the prior year quarter. The difference in Adjusted EBITDA was mainly due to higher input costs, driven by the inflationary impacts of raw materials and shipping costs, as well as higher selling, general and administrative costs in 2021, as well as lower operating expenses in 3Q 2020, due to the environment related to COVID-19.

Michel Vermette, President and CEO, commented: “During the third quarter, we were able to increase our sales by approximately 8% year-over-year, and we continue to see a strong demand for our products, with an order book of around $ 67 million in 4Q. However, we experienced further supply chain disruptions and inflationary pressures which had a significant impact on our profitability. “

Armstrong Flooring, Inc. is a leader in the design and manufacture of innovative flooring solutions.

Ann J. Cox