Latest News by Industry
HERNDON, Va. (AP) — HERNDON, Va. (AP) — Beacon Roofing Supply Inc. (BECN) on Thursday reported fourth-quarter profit of $73.3 million.
The Herndon, Virginia-based company said it had profit of 88 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.18 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The roofing materials distributor posted revenue of $1.97 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $1.98 billion.
For the year, the company reported profit of $458.4 million, or $5.55 per share. Revenue was reported as $8.43 billion.
Beacon Roofing shares have climbed 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $59.70, a climb of 11% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a BECN">Zacks stock report on BECN at https://www.zacks.com/ap/BECN