Beacon Roofing Supply Sees Q4 EPS $1.42-$1.48 Vs $1.64 Est.; Revenue $2.3B Vs $2.22B Est.; FY23 EPS $(0.48)-$(0.42); Revenue $9.1B Vs $9.04B Est.
Portfolio Pulse from Benzinga Newsdesk
Beacon Roofing Supply (BECN) reported preliminary Q4 EPS of $1.42-$1.48, below the $1.64 estimate, but revenue exceeded expectations at $2.3B versus the $2.22B estimate. For FY23, the company expects EPS between $(0.48)-$(0.42) and revenue of $9.1B, slightly above the $9.04B estimate. These results are at the high end of the company's guidance, attributed to higher revenue and strong execution. Final results will be announced around February 27, 2024. The preliminary figures are subject to change upon completion of financial closing procedures.
January 10, 2024 | 1:16 pm
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NEUTRAL IMPACT
Beacon Roofing Supply reported preliminary Q4 EPS below estimates but higher revenue, and a positive revenue outlook for FY23.
The mixed preliminary results with lower than expected EPS but higher revenue for Q4 and a positive revenue forecast for FY23 suggest a neutral short-term impact. The final results are pending, which could lead to adjustments in the stock price once confirmed.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100