Armstrong World Industries: 2Q Earnings Snapshot
LANCASTER, Pa. (AP) _ Armstrong World Industries Inc. (AWI) on Monday reported second-quarter profit of $54.5 million.
On a per-share basis, the Lancaster, Pennsylvania-based company said it had profit of $1.09. Earnings, adjusted for one-time gains and costs, came to $1.27 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.
The ceiling and wall systems manufacturer posted revenue of $272 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $279.7 million.
Armstrong World Industries shares have climbed 71% since the beginning of the year. The stock has increased 45% in the last 12 months.