LANCASTER, Pa. (AP) — LANCASTER, Pa. (AP) — Armstrong World Industries Inc. (AWI) on Tuesday reported third-quarter net income of $86.3 million.
The Lancaster, Pennsylvania-based company said it had net income of $1.98 per share. Earnings, adjusted for one-time gains and costs, were $2.05 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The ceiling and wall systems manufacturer posted revenue of $425.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $421.1 million.
Armstrong World Industries expects full-year earnings in the range of $7.45 to $7.55 per share, with revenue in the range of $1.62 billion to $1.64 billion.
Armstrong World Industries shares have increased 43% since the beginning of the year. The stock has climbed 49% 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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