Beacon Roofing Supply (BECN) Misses Q2 EPS by 27c, Revenues Miss

Beacon Roofing Supply (NASDAQ: BECN) reported Q2 EPS of ($0.24), $0.27 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.32 billion.

“Continued execution by our team resulted in impressive second quarter performance,” said Julian Francis, Beacon’s President and Chief Executive Officer. “Strong residential demand and effective sales and pricing performance drove record second quarter net sales. I am particularly pleased with our gross margin performance, cost management and the operating leverage we generated on higher sales, the combination of which led to record second quarter Adjusted EBITDA. Our quarterly results, coupled with the successful divestiture of our Interior Products business, have allowed us to significantly reduce leverage, strengthen our balance sheet and sharpen our focus on the growth and profitability of our exteriors business. We are excited about our progress and look forward to a very successful 2021 as we continue to help our customers build more.”

For earnings history and earnings-related data on Beacon Roofing Supply (BECN) click here.

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