Beacon Roofing: Q2 Earnings Snapshot
HERNDON, Va. (AP) _ Beacon Roofing Supply Inc. (BECN) on Thursday reported second-quarter earnings of $174.5 million.
On a per-share basis, the Herndon, Virginia-based company said it had net income of $2.12. Earnings, adjusted for one-time gains and costs, were $2.41 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.
The roofing materials distributor posted revenue of $2.36 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.29 billion.
Beacon Roofing shares have climbed almost 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $61.73, an increase of 16% in the last 12 months.