Beacon Roofing: Fiscal Q3 Earnings Snapshot | State and Regional News
HERNDON, Va. (AP) – Beacon Roofing Supply Inc. (BECN) Thursday reported net income of $76.5 million for its fiscal third quarter, after a loss in the same period a year earlier.
Per share, the Herndon, Virginia-based company said it had net income of 87 cents. Earnings, adjusted for one-time gains and expenses, were $1.59 per share.
The results exceeded Wall Street’s expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The roofing materials distributor posted $1.87 billion in sales for the period and also exceeded Street’s forecasts. Six analysts surveyed by Zacks expected $1.83 billion.
Shares of Beacon Roofing are up 34% since the beginning of the year. Shares hit $54.05 in Thursday’s final trading minutes, up 64% over the past 12 months.
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