PEABODY — Beacon Roofing Supply Inc. reported a slightly smaller quarterly loss as sales improved.
The building materials company lost $6.2 million, or 13 cents a share, in the three months ended March 31. That compared with a loss of $6.5 million, or 14 cents, a year earlier. Net sales rose 3.8 percent to $296.3 million.
The results fell short of analysts’ consensus forecast for a loss of 9 cents a share on sales of $303.2 million, according to FactSet.
Nonresidential roofing sales increased nearly 14 percent, while complementary product sales rose nearly 7 percent. Residential roofing sales fell 11 percent, reflecting ongoing weakness in home construction.
Paul Isabella, Beacon’s chief executive, said most of the company’s regions saw declines in residential reroofing.
Beacon’s gross margin continued to improve during the quarter, Isabella noted.
Beacon’s shares fell 74 cents, or nearly 3.6 percent, to $20.09.
