Beacon Roofing: Q3 Earnings Snapshot
HERNDON, Va. (AP) — HERNDON, Va. (AP) — Beacon Roofing Supply Inc. (BECN) on Thursday reported third-quarter net income of $161.3 million.
On a per-share basis, the Herndon, Virginia-based company said it had net loss of $4.16. Earnings, adjusted for one-time gains and costs, came to $2.85 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.54 per share.
The roofing materials distributor posted revenue of $2.58 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $2.59 billion.
Beacon Roofing shares have climbed 39% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $73.46, a climb of 33% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BECN at https://www.zacks.com/ap/BECN
