Beacon Roofing: Fiscal 4Q Earnings Snapshot
HERNDON, Va. (AP) _ Beacon Roofing Supply Inc. (BECN) on Monday reported fiscal fourth-quarter earnings of $48.3 million.
The Herndon, Virginia-based company said it had net income of 54 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and pretax expenses, came to $1.07 per share.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.
The roofing materials distributor posted revenue of $1.94 billion in the period, which also did not meet Street forecasts. Ten analysts surveyed by Zacks expected $2.01 billion.
For the year, the company reported profit of $98.6 million, or $1.05 per share. Revenue was reported as $6.42 billion.
Beacon Roofing shares have decreased 56 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.77, a drop of 50 percent in the last 12 months.