Beacon Roofing (BECN) Posts Narrower Q2 Loss, Beats On Sales
Zacks Investment Research | May 07, 2019 10:27PM ET
Beacon Roofing Supply, Inc. (NASDAQ:BECN) reported better-than-expected results in second-quarter fiscal 2019. The top and bottom lines improved from the prior-year period, backed by positive organic growth, increased daily sales, aggressive cost-control measures, alongside solid price-cost performance during the reported quarter. Consequently, shares of the nations’ largest publicly traded distributor of roofing materials and complementary building products company grew nearly 2% in the after-hour trading session, following the earnings release.
Beacon Roofing reported adjusted loss of 45 cents per share, which is narrower than the Zacks Consensus Estimate of a loss of 51 cents by 11.8%. Also, the reported figure narrowed 28.6% from a loss of 35 cents per share a year ago. The upside was primarily attributable to strong sales in the markets that were less affected by inclement weather and lower operating expense, partially offset by pressurized gross margins.
Beacon Roofing Supply, Inc. Price, Consensus and EPS Surprise
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