Beacon Roofing: Fiscal 4Q Earnings Snapshot
HERNDON, Va. (AP) _ Beacon Roofing Supply Inc. (BECN) on Monday reported fiscal fourth-quarter profit of $27.4 million.
On a per-share basis, the Herndon, Virginia-based company said it had net income of 27 cents. Earnings, adjusted for one-time gains and costs, were $1.04 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 $1.17 per share.
The roofing materials distributor posted revenue of $2.03 billion in the period, also missing Street forecasts. Eleven analysts surveyed by Zacks expected $2.06 billion.
For the year, the company reported a loss of $10.6 million, or 51 cents per share, swinging to a loss in the period. Revenue was reported as $7.11 billion.
Beacon Roofing shares have increased 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.37, a climb of 1% in the last 12 months.