Beacon Roofing Supply Q2 Net Loss Widens - Quick Facts

(RTTNews) - Beacon Roofing Supply, Inc. (BECN) posted a wider second-quarter net loss of $12.1 million, compared with a $0.2 million loss, last year. Quarterly loss per share was $0.25, compared with a breakeven per share in the 2013 period. On average, 14 analysts polled by Thomson Reuters expected the company to report loss per share of $0.06 for the quarter. Analysts' estimates typically exclude special items.

The company said that the increase in net loss for the quarter was due to a combination of reduced sales as a result of the extended duration and severity of the colder temperatures and winter weather through many of its operating regions, reduced selling prices as a result of soft demand, and an unfavorable shift in sales mix to lower margin direct shipment and commercial business.

Total sales decreased 7.5% to $384.9 million from $416.3 million a year ago. Analysts expected revenue of $416.84 million for the quarter. On an overall consolidated basis, residential roofing product sales dropped by 12.1%, non-residential roofing product sales decreased 2.3%, and complementary product sales down 4.1%.