GMS Inc. Q1 Profit Decreases, Misses Estimates

(RTTNews) - GMS Inc. (GMS) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $57.248 million, or $1.42 per share. This compares with $86.830 million, or $2.09 per share, in last year's first quarter.

Excluding items, GMS Inc. reported adjusted earnings of $77.6 million or $1.93 per share for the period.

Analysts on average had expected the company to earn $2.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.8% to $1.448 billion from $1.409 billion last year.

GMS Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $57.248 Mln. vs. $86.830 Mln. last year. -EPS (Q1): $1.42 vs. $2.09 last year. -Revenue (Q1): $1.448 Bln vs. $1.409 Bln last year.