Beacon Roofing Supply Inc. (BECN) reported a second-quarter net loss of $161 thousand or breakeven per share, compared to profit of $3.14 million or $0.07 per share last year. The company said the decline in earnings was due to higher operating expenses, including acquired branch expenses, partially offset by the impact from higher gross profit and lower interest expense. The second quarter adjusted loss per share was $0.02.
Net sales increased to $416.28 million from $395.16 million last year. Existing market sales, which exclude branches acquired after the beginning of last year's second quarter, declined 5.1%.
On average, 13 analysts polled by Thomson Reuters expected the company to report profit of $0.01 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $417.79 million for the quarter.
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