Beacon Roofing: Q1 Earnings Snapshot

HERNDON, Va. (AP) _ Beacon Roofing Supply Inc. (BECN) on Thursday reported first-quarter net income of $55.8 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 net income of 61 cents. Earnings, adjusted for one-time gains and costs, were 89 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was...

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HERNDON, Va. (AP) _ Beacon Roofing Supply Inc. (BECN) on Thursday reported first-quarter net income of $55.8 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 net income of 61 cents. Earnings, adjusted for one-time gains and costs, were 89 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The roofing materials distributor posted revenue of $1.69 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.43 billion.

Beacon Roofing shares have climbed slightly more than 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $62.16, a rise of almost 9% 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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