Armstrong World Industries Q3 Earnings Miss Analyst Estimates, Shares Down 14% Year-to-Date

Armstrong World Industries Inc. (AWI) reported third-quarter earnings of $91.9 million, or $2.17 per share, missing Wall Street expectations. Adjusted earnings came in at $2.26 per share, below the $2.35 average estimate from three analysts surveyed by Zacks Investment Research. The Lancaster, Pennsylvania-based ceiling and wall systems manufacturer posted revenue of $475.8 million for the quarter. The company guided full-year earnings to a range of $8.30 to $8.40 per share, with revenue projected between $1.79 billion and $1.8 billion. Armstrong shares have fallen 14% since the start of the year and are down 19% over the past 12 months.