Armstrong World Industries: 2Q Earnings Snapshot
LANCASTER, Pa. (AP) _ Armstrong World Industries Inc. (AWI) on Tuesday reported second-quarter earnings of $47.3 million.
On a per-share basis, the Lancaster, Pennsylvania-based company said it had profit of 89 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.01 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The ceiling and wall systems manufacturer posted revenue of $248.6 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $246 million.
Armstrong World Industries shares have increased 11 percent since the beginning of the year. The stock has increased 51 percent in the last 12 months.