Armstrong Flooring shares were down almost 7.5% pre-market Monday after the company reported Q2 results which were weaker-than-expected and lowered its full-year adjusted EBITDA guidance. Q2 adjusted EPS was $0.26, down from $0.46 per share a year earlier and below the $0.43 per share consensus of analysts polled by Capital IQ.
Revenues decreased 8.1% year-over-year to $297.3 million and fell short of the $324.6 million average estimate. For FY17, Armstrong Flooring expects adjusted EBITDA of $60 million to $70 million, down from a prior view for $75 million to $85 million. It also expects capital expenditures of $45 million.