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.
Beacon Roofing shares have increased 13% since the beginning of the year. The stock has fallen slightly more than 5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BECN at https://www.zacks.com/ap/BECN
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