LANCASTER, Pa. (AP) — LANCASTER, Pa. (AP) — Armstrong World Industries Inc. (AWI) on Tuesday reported first-quarter net income of $69.1 million.
On a per-share basis, the Lancaster, Pennsylvania-based company said it had net income of $1.58. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.66 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The ceiling and wall systems manufacturer posted revenue of $382.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $372.7 million.
Armstrong World Industries expects full-year earnings in the range of $6.85 to $7.15 per share, with revenue in the range of $1.57 billion to $1.61 billion.
Armstrong World Industries shares have dropped roughly 2% since the beginning of the year. The stock has risen 19% 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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