Armstrong World Q1 Profit Increases, Beats Estimates; Lifts Annual Outlook Above View - Update

(RTTNews) - (Adds Outlook)

For the full year, Armstrong World Industries Inc. (AWI) has raised its outlook.

It now sees adjusted earnings per share for the full year to be in the range of $5.80- $6.05, up from the previous outlook of $5.60- $5.90.

Revenue guidance has been raised to $1.395 billion - $1.435 billion from $1.335 billion -$1.375 billion.

On average, 8 analysts polled by Thomson-Reuters expect the company to report earnings of $5.76 per share on revenue of $1.35 billion for the year.

Q1 Results:

Armstrong World revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $59.9 million, or $1.36 per share. This compares with $47.3 million, or $1.04 per share, in last year's first quarter.

Excluding items, Armstrong World Industries Inc. reported adjusted earnings of $61 million or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $326.3 million from $310.2 million last year.

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

-Earnings (Q1): $59.9 Mln. vs. $47.3 Mln. last year. -EPS (Q1): $1.36 vs. $1.04 last year. -Revenue (Q1): $326.3 Mln vs. $310.2 Mln last year.