Warm Winter Brings Surprise Profit to Beacon Roofing
Posted on May 10, 2012 at 12:02 PM EDT
A warm winter gave roofers more time to work, and pushed Beacon Roofing Supply (BECN) to a surprise first-quarter profit. Shares gapped up at the open but tumbled soon after, along with a slew of homebuilders. By midday, shares were off 2.4% to 25.27. "The much warmer winter conditions this year boosted roofing and exterior remodeling activities and seemed to accelerate the recent trend of increased residential re-roofing activities," CEO Paul
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