HERNDON, Virginia (AP) _ Beacon Roofing Supply Inc. (BECN) reported a loss of $ 220.5 million for the first quarter of its fiscal year on Monday.
The Herndon, Virginia based company said it posted a loss of $ 3.24 per share. Adjusted for one-time gains and costs, earnings were 92 cents per share.
The results exceeded Wall Street’s expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was earnings of 64 cents per share.
The roofer retailer had sales of $ 1.58 billion for the period, which was below Street’s forecasts. Seven analysts surveyed by Zacks expected $ 1.75 billion.
Beacon Roofing stocks are up 7.5% since the start of the year. In the last few minutes of trading on Monday, shares hit $ 43.20, up 23% over the past 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