Beacon Roofing Supply (BECN) Misses Q4 EPS by 14c
Beacon Roofing Supply (NASDAQ: BECN) reported Q4 EPS of $0.48, $0.14 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $726.5 million versus the consensus estimate of $731.3 million.
Paul Isabella, the Company’s President and Chief Executive Officer, stated: “Again this quarter we were able to demonstrate our focus on driving top line revenue growth with a 6.3% increase in sales. Almost two thirds of that growth was due to the success of our 26 new greenfields that we opened in the current year. In addition, we completed three acquisitions in August and October that, for next year, will add over $88 million to our revenue base. We continue to experience pressure on our gross margins which are down slightly from last quarter and from last year. The soft residential market, coupled with heightened competition, has continued to put pressure on our market pricing. We continue to invest heavily to grow the business through the opening of the new greenfield branches. As a result, we are well positioned to continue to see sales growth. Recognizing the challenges we face from gross margin pressure, in 2015 we will continue our focus on driving more leverage through our operating cost structure and work to lower our overall operating costs as a percentage of sales.”
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