Armstrong World Industries Q2 Profit Up, Beats Estimates; Raises Annual Outlook Above View - Update

(RTTNews) - (Adds Outlook)

For the full year, Armstrong World Industries, Inc. (AWI) raised its outlook above analysts' expectations.

It now expects full-year sales to be in the range of $1.415 billion- $1.440 billion, up from the previous guidance of $1.395 billion - $1.435 billion.

Adjusted EPS guidance has been raised to $6.00-$6.15 from $5.80-$6.05

On average, 7 analysts expect earnings of $5.91 per share on revenue of $1.41 billion for the year.

Q2 Results:

Armstrong World Industries revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $65.9 million, or $1.50 per share. This compares with $60.2 million, or $1.34 per share, in last year's second quarter.

Excluding items, Armstrong World Industries Inc. reported adjusted earnings of $71 million or $1.62 per share for the period.

Analysts on average had expected the company to earn $1.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.2% to $365.1 million from $325.4 million last year.

Armstrong World Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $65.9 Mln. vs. $60.2 Mln. last year. -EPS (Q2): $1.50 vs. $1.34 last year. -Revenue (Q2): $365.1 Mln vs. $325.4 Mln last year.