Beacon Roofing Posts Q4 Adj. EPS Of $0.56 - Quick Facts

(RTTNews) - Beacon Roofing Supply, Inc. (BECN) posted fourth-quarter net income of $27.4 million, or $0.55 a share, compared with $27.9 million, or $0.58 a share, last year. On an adjusted basis, quarterly net income per share amounted to $0.56. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.62 for the quarter. Analysts' estimates typically exclude one-time items.

Net profit for the recent quarter was negatively impacted by lower gross margins as a result of the continued impact of product cost increases that have not been consistently passed through to customers and a higher mix of non-residential roofing products. This was partially offset by continued cost control and leverage of operating expenses across a higher volume base.

Total sales advanced 14.3% year-over-year to $683.5 million, from $598.1 million. Ten analysts estimated revenues of $686.12 million for the quarter. Existing market (organic) sales, excluding branches acquired after the beginning of last year's fourth quarter, increased 7.6%. In existing markets, residential roofing product sales grew 6.5%, non-residential roofing product sales up 10.1%, and complementary product sales increased 5.0%.