Armstrong World Industries Q3 Profit Climbs, Stock Down

Armstrong World Industries

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(RTTNews) - Armstrong World Industries Inc. (AWI), a manufacturer of interior and exterior architectural applications,Tuesday reported an increase in third quarter earnings from the same period last year.

Armstrong's shares are trading 5.25 percent down at $192.01 on the NYSE.

The company's earnings came in at $86.3 million from $76.9 million the prior year. Earnings per share was $1.98 higher than $1.75 per share a year ago.

On an adjusted basis, earnings were up 12.4 percent to $89 million or $2.05 per share from $79 million or $1.81 per share earlier year.

Analysts on average had expected the company to earn $1.53 per share. The company's adjusted EBITDA was up by 6.4 percent to $148 million higher than $139 the prior year.

Armstrong's revenue for the period rose 10 percent to $425.2 million from $386.6 million last year.

Analysts on average had expected the company to earn revenue of $394.2 million.

For the full year guidance, the company expects adjusted earnings per share to be in the range of $7.45-$7.55 per share.

Net sales expected to be in the range of $1.62-$1.64 billion.

Adjusted EBITDA to be in the range of $486-$553 million.