LANCASTER, Pa. (AP) _ Armstrong World Industries Inc. (AWI) on Monday reported first-quarter profit of $39.1 million.
The Lancaster, Pennsylvania-based company said it had profit of 78 cents per share. Earnings, adjusted for one-time gains and costs, were $1.10 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The ceiling and wall systems manufacturer posted revenue of $242.1 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $248.7 million.
Armstrong World Industries shares have increased 51% since the beginning of the year. The stock has risen 57% in the last 12 months.
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