Beacon Roofing: Q1 Earnings Snapshot
By AP News
Published - May 05, 2023, 05:09 AM ET
Last Updated - Jun 21, 2023, 10:28 PM EDT
HERNDON, Va. (AP) — HERNDON, Va. (AP) — Beacon Roofing Supply Inc. (BECN) on Thursday reported first-quarter profit of $22.3 million.
The Herndon, Virginia-based company said it had profit of 25 cents per share. Earnings, adjusted for one-time gains and costs, were 67 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The roofing materials distributor posted revenue of $1.73 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $1.78 billion.
