Beacon Roofing: Fiscal 3Q Earnings Snapshot
HERNDON, Va. (AP) _ Beacon Roofing Supply Inc. (BECN) on Tuesday reported fiscal third-quarter net income of $31 million.
The Herndon, Virginia-based company said it had net income of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to 92 cents per share.
The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The roofing materials distributor posted revenue of $1.92 billion in the period, which also did not meet Street forecasts. Ten analysts surveyed by Zacks expected $1.99 billion.
Beacon Roofing shares have climbed 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.95, a decline of 17% in the last 12 months.