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Armstrong World Industries: Q1 Earnings Snapshot

April 26, 2022 GMT

LANCASTER, Pa. (AP) _ Armstrong World Industries Inc. (AWI) on Tuesday reported first-quarter net income of $44.4 million.

The Lancaster, Pennsylvania-based company said it had profit of 94 cents per share. Earnings, adjusted for one-time gains and costs, were $1.02 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The ceiling and wall systems manufacturer posted revenue of $282.6 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $287.7 million.

Armstrong World Industries expects full-year earnings in the range of $5 to $5.20 per share, with revenue in the range of $1.22 billion to $1.25 billion.

Armstrong World Industries shares have decreased 20% since the beginning of the year. The stock has decreased roughly 7% 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