GMS Inc. Q2 Profit Decreases, Misses Estimates

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

The company's bottom line came in at $53.536 million, or $1.35 per share. This compares with $80.957 million, or $1.97 per share, in last year's second quarter.

Excluding items, GMS Inc. reported adjusted earnings of $80.061 million or $2.02 per share for the period.

Analysts on average had expected the company to earn $2.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.5% to $1.470 billion from $1.420 billion last year.

GMS Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $53.536 Mln. vs. $80.957 Mln. last year. -EPS (Q2): $1.35 vs. $1.97 last year. -Revenue (Q2): $1.470 Bln vs. $1.420 Bln last year.