LANCASTER, Pa. (AP) — LANCASTER, Pa. (AP) — Armstrong World Industries Inc. (AWI) on Tuesday reported first-quarter net income of $66.8 million.
The Lancaster, Pennsylvania-based company said it had profit of $1.55 per share. Earnings, adjusted for one-time gains and costs, came to $1.69 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.
The ceiling and wall systems manufacturer posted revenue of $409.9 million in the period.
Armstrong World Industries expects full-year earnings in the range of $8.15 to $8.45 per share, with revenue in the range of $1.75 billion to $1.79 billion.
Armstrong World Industries shares have decreased 7% since the beginning of the year. The stock has risen 28% 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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