Revenue during the quarter grew 5.73 percent to $870.72 million from $823.54 million in the previous year period. Gross margin for the quarter contracted 29 basis points over the previous year period to 23.48 percent. Operating margin for the quarter stood at negative 0.35 percent as compared to a positive 0.47 percent for the previous year period.

Operating loss for the quarter was $3.06 million, compared with an operating income of $3.88 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $31.79 million compared with $36.92 million in the prior year period. At the same time, adjusted EBITDA margin contracted 83 basis points in the quarter to 3.65 percent from 4.48 percent in the last year period.

Paul Isabella, the Company's president and chief executive officer, stated: "I am pleased to announce another record breaking revenue quarter for Beacon which has us positioned for a strong second half of 2017. Most notable is our existing market same day sales growth of 2.4%, which is particularly even more impressive considering the 26% mild weather-aided growth we saw in Q2 of 2016. Our existing residential roofing business delivered the 12th consecutive quarter of year-over-year improvement, achieving 9.3% growth in the quarter. Our complementary products business, one of our strategic focus areas, also demonstrated positive growth in the quarter. This is a favorable sign, and we will continue to pursue organic and acquisition growth within this category, as shown by our May 1st acquisition of Lowry’s, Inc., a market leader in waterproofing in the western United States. Our second quarter gross margins also remained above the most recent three-year reported average for Q2, and we are confident in sequential improvements during the upcoming quarters. We also expect our non-residential business to rebound in the second half with anticipated stronger demand and more favorable year-over-year comparisons. We will remain intensely focused on producing above-market growth within our core roofing markets and complementary categories, both organically and by acquisition. I am enthusiastic about the remainder of 2017 and our ability to achieve strong full year results."

The company has spent $81.30 million cash to meet investing activities during the first six months as against cash outgo of $951.84 million in the last year period. It has incurred net capital expenditure of $22.95 million on net basis during the first six months, up 114.81 percent or $12.26 million from year ago period.

The company has spent $90.63 million cash to carry out financing activities during the first six months as against cash inflow of $840.97 million in the last year period.

Cash and cash equivalents stood at $10.01 million as on Mar. 31, 2017, down 32.54 percent or $4.83 million from $14.84 million on Mar. 31, 2016.

Debt comes down marginally
Beacon Roofing Supply has recorded a decline in total debt over the last one year. It stood at $1,035.88 million as on Mar. 31, 2017, down 3.49 percent or $37.42 million from $1,073.30 million on Mar. 31, 2016.