Beacon Roofing Supply (BECN) Reports Next Week: Wall Street Expects Earnings Growth

Core Viewpoint - The market anticipates Beacon Roofing Supply (BECN) to report a year-over-year increase in earnings driven by higher revenues when it releases its quarterly results for the period ending June 2024 [1] Earnings Expectations - The earnings report is expected on August 1, 2024, with a consensus EPS estimate of $2.82, reflecting a 6$2.69 billion, representing a 7.5% increase from the same quarter last year [4] Estimate Revisions - The consensus EPS estimate has been revised 0.1% higher in the last 30 days, indicating a slight bullish sentiment among analysts [5] - The Most Accurate Estimate for Beacon Roofing is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +1.97%, suggesting analysts are optimistic about the company's earnings prospects [11] Historical Performance - In the last reported quarter, Beacon Roofing exceeded the expected earnings of $0.35 per share by delivering$0.41, achieving a surprise of +17.14% [14] - The company has beaten consensus EPS estimates in all of the last four quarters [15] Predictive Indicators - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [9] - Currently, Beacon Roofing holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [12][13]