FX.co ★ Beacon Roofing Supply Inc. Q1 Profit Retreats, misses estimates

Beacon Roofing Supply Inc. recently revealed its first quarter earnings, which dropped in comparison to the same period of the previous year and also fell short of Wall Street's expectations.

The firm reported earnings of $5.6 million, equating to $0.09 per share. This is a significant decrease from last year's first quarter earnings of $24.8 million or $0.25 per share.

Analysts had, on average, predicted the company would earn $0.29 per share, as per data aggregated by Thomson Reuters. These average estimates usually do not consider any special items.

However, Beacon Roofing Supply Inc. did see some growth, as the company's revenue for the quarter increased by 10.4% to $1.91 billion, up from $1.73 billion in the previous year.

To sum up, Beacon Roofing Supply Inc.'s first quarter earnings based on Generally Accepted Accounting Principles (GAAP) are as follows: Earnings have dropped to $5.6 million from $24.8 million the previous year, EPS has fallen from $0.25 last year to $0.09 this year, and revenue has risen from $1.73 billion last year to $1.91 billion this year.