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Beacon Roofing: Q3 Earnings Snapshot
By AP News - Oct 30, 2024, 05:47 PM ET
Last Updated - Dec 16, 2024, 05:49 PM EST
HERNDON, Va. (AP) — HERNDON, Va. (AP) — Beacon Roofing Supply Inc. (BECN) on Wednesday reported third-quarter net income of $145.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Herndon, Virginia-based company said it had profit of $2.30. Earnings, adjusted for one-time gains and costs, were $2.80 per share.
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The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.88 per share.
The roofing materials distributor posted revenue of $2.77 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.78 billion.
Beacon Roofing shares have increased almost 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $95.47, an increase of 36% 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
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