Armstrong World Industries: Q2 Earnings Snapshot

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LANCASTER, Pa. (AP) _ Armstrong World Industries Inc. (AWI) on Tuesday reported second-quarter profit of $52.2 million.

On a per-share basis, the Lancaster, Pennsylvania-based company said it had profit of $1.11. Earnings, adjusted for one-time gains and costs, were $1.29 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 $1.38 per share.

The ceiling and wall systems manufacturer posted revenue of $321 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $312.9 million.

Armstrong World Industries expects full-year earnings in the range of $5.10 to $5.20 per share, with revenue in the range of $1.23 billion to $1.25 billion.

Armstrong World Industries shares have declined 29% since the beginning of the year. The stock has dropped 22% 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