HERNDON, Va. (AP) — HERNDON, Va. (AP) — Beacon Roofing Supply Inc. (BECN) on Tuesday reported fourth-quarter net income of $95.1 million.
On a per-share basis, the Herndon, Virginia-based company said it had net income of $1.47. Earnings, adjusted for non-recurring costs, came to $1.72 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.
The roofing materials distributor posted revenue of $2.3 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.28 billion.
For the year, the company reported a loss of $13.7 million, or 43 cents per share, swinging to a loss in the period. Revenue was reported as $9.12 billion.
Beacon Roofing shares have climbed nearly 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $89.47, an increase of 38% in the last 12 months.
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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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