Beacon challenged in second quarter
Peabody, Mass.-based Beacon Roofing Supply posted a second-quarter net loss of $0.2 million, compared with net income of $3.1 million in the same quarter last year.
Sales increased 5.3% to $416.3 million in the quarter.
CEO Paul Isabella described the second quarter as "challenging."
He added: "We experienced harsh weather conditions in many of our markets, and we were up against a very strong second quarter last year when our existing market sales were up 28%."
The trend of residential roofing sales is looking up, he said. The company expects "a busines rebound following the tough winter and early spring conditions," he said.
In existing markets, residential and non-residential roofing product sales decreased 1.4% and 11.2%, respectively.