Published on 28 Feb 2024 on Zacks via Yahoo Finance

Beacon Roofing (BECN) Q4 Earnings & Sales Beat, Shares Fall

Beacon Roofing Supply, Inc. BECN reported better-than-expected results for fourth-quarter 2023. Its earnings and net sales surpassed the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.BECN reported net sales growth for the trailing 12 quarters, highlighting the resiliency of its business model. This is driven by diligent pricing execution, productivity, and improvements from the bottom quintile branch initiative.In 2023, it acquired 21 branches and opened 28 greenfield locations in key markets, enhancing customer reach and service.Shares of the company lost 3.3% in the after-hour trading session on Feb 27.

Earnings & Revenue Discussion

This distributor of building products reported adjusted earnings per share of $1.72, which topped the consensus mark of $1.69 by 1.8% and increased 41% from the year-ago adjusted level of $1.22 per share.