Beacon Roofing Supply Earnings: Everything You Must Know Now
Beacon Roofing Supply Inc. (NASDAQ:BECN) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Beacon Roofing Supply Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Rose 5.35% to $416.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Beacon Roofing Supply Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.01. It missed the average revenue estimate of $417.79 million.
Quoting Management: Paul Isabella, the Company’s President & Chief Executive Officer, stated: “The second quarter of fiscal 2013 was challenging for us as we experienced harsh weather conditions in many of our markets and we were up against a very strong second quarter last year when our existing market sales were up 28%. Our total sales benefited from the positive impact of several acquisitions made since the start of last year and our gross margin continued to improve over the prior year. In addition, the trend of our residential roofing sales was more favorable in the second quarter compared to the first quarter. During the first half, we took advantage of our financial capacity and flexibility to purchase key products ahead of announced industry-wide price increases. We believe we are well positioned for a successful back half of fiscal 2013 and expect to experience a business rebound following the tough Winter and early Spring conditions.”
Key Stats (on next page)…