LANCASTER, Pa. (AP) — LANCASTER, Pa. (AP) — Armstrong World Industries Inc. (AWI) on Tuesday reported first-quarter profit of $59.9 million.
The Lancaster, Pennsylvania-based company said it had net income of $1.36 per share. Earnings, adjusted for one-time gains and costs, came to $1.38 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The ceiling and wall systems manufacturer posted revenue of $326.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $317.8 million.
Armstrong World Industries expects full-year earnings in the range of $5.80 to $6.05 per share, with revenue in the range of $1.4 billion to $1.44 billion.
Armstrong World Industries shares have risen 21% since the beginning of the year. The stock has climbed 75% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AWI at https://www.zacks.com/ap/AWI
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