HERNDON, Va. (AP) — HERNDON, Va. (AP) — Beacon Roofing Supply Inc. (BECN) on Thursday reported first-quarter earnings of $5.6 million.
On a per-share basis, the Herndon, Virginia-based company said it had net income of 9 cents. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The roofing materials distributor posted revenue of $1.91 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.88 billion.
Beacon Roofing shares have increased 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $97.52, an increase of 62% in the last 12 months.
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