Beacon Roofing Supply, Inc. (BECN) Misses Q4 EPS by 6c

November 26, 2013 8:27 AM
Beacon Roofing Supply, Inc. (NASDAQ: BECN) reported Q4 EPS of $0.56, $0.06 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $683.5 million versus the consensus estimate of $686.12 million.

Paul Isabella, the Company’s President and Chief Executive Officer, stated: “We experienced a solid increase in organic demand this quarter, which when combined with our acquisitions drove strong top line growth of over 14%. We also completed the opening of seven new branches this quarter, taking us to the total of 10 that we had targeted for 2013. Plus, we are on track to open another 15-20 additional new branches in 2014. Top line growth is one of the cornerstones of our strategy and is very much on track. We continued to experience a challenging pricing environment which drove down our gross margins from the prior year. We were able to mitigate some of this negative impact through cost control and leverage of our operating expenses which were down 80 basis points over the prior year. As we move forward into 2014 our focus will continue to be on growing the top line while improving our gross margins and continuing to leverage our operating expenses.”

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