HERNDON, Va. (AP) _ Beacon Roofing Supply Inc. (BECN) on Monday reported a fiscal first-quarter loss of $23.4 million, after reporting a profit in the same period a year earlier.
The Herndon, Virginia-based company said it had a loss of 43 cents per share. Earnings, adjusted for one-time gains and costs, were 32 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The roofing materials distributor posted revenue of $1.68 billion in the period, also missing Street forecasts. Nine analysts surveyed by Zacks expected $1.71 billion.
Beacon Roofing shares have climbed slightly more than 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $32.42, a decrease of 11% in the last 12 months.