Beacon Roofing Supply (BECN) PT Lowered to $35 at Baird
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Beacon Roofing Supply Provides Fiscal 2019 Second-Quarter Estimate Reflecting Unfavorable Weather Impact; Full-Year 2019 Adjusted EPS Expected to Meet Lower End of Guidance Range
March 25, 2019 4:13 PM EDTHERNDON, Va.--(BUSINESS WIRE)-- Beacon Roofing Supply, Inc. (Nasdaq: BECN) (Beacon or the Company) announced today that results for the second quarter ended March 31, 2019 will be impacted by unfavorable weather conditions. The Company is estimating a second quarter Adjusted Net Income (Loss) per share (Adjusted EPS) of between $(0.45) and $(0.55), compared to the current Street consensus loss per share of approximately $(0.25). Despite the second quarter being heavily impacted by harsh weather, Adjusted EPS for the full fiscal year ending September 30, 2019 is anticipated to be within the lower-end of the Companys previously provided range of $2.90 to $3.35.
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