Beacon Roofing profit beats estimates
* Q3 adj EPS $0.62 vs est $0.57
* Q3 rev $560.5 vs est $587.9
* Residential roofing sales up 2 pct
Aug 7 (Reuters) - Beacon Roofing Supply Inc's adjusted earnings beat analysts' estimates for the fifth straight quarter on h i gher residential roofing sales.
Net income rose to $25.4 million, or 53 cents per share, for the third quarter, from $24.1 million, or 51 cents per share, a year earlier.
Excluding items, the company earned 62 cents per share.
Sales grew 4 percent to $560.5 million. Sales in its residential roofing business, which accounted for more than half of the company's revenue, rose 2 percent to $259.8 million.
Non-residential roofing sales fell by 5 percent to $199.1 million, the segment accounts for 38 percent of the company's total sales.
Analysts on average had expected earnings of 57 cents per share, on revenue of $587.9 million, according to Thomson Reuters I/B/E/S.
Shares of the Peabody, Massachusetts-based company, which has 208 branches in 38 states in the United States and Canada, closed at $24.78 on Monday on the Nasdaq.