Home Builder Developer - Interior Renovation and Design

Embattled coworking giant WeWork isin talks todrop out of a West Midtown Atlanta development before its planned opening later this year.

Rendering for SJ Collins Enterprises' The Interlock mixed-use project in West Midtown.

Armada Hoffler Properties is in talks to either shrink or kill WeWork locations at two properties in which it has invested, at The Interlock in Atlantaandits planned location at the Wills Wharf development in Baltimore, CEO Louis Haddad said during the firm's Q1earnings calllast week.

We opened discussions with WeWork early this year to reduce or eliminate their leases in these two locations in order to limit our exposure to this tenant. WeWork is also interested in reducing their exposure to us, Haddad said. We expect to announce the results of these discussions within the current quarter.

Armada Hoffler agreed toinvestup to $65M inThe Interlock, which is being developedby S.J. Collins Enterprises, as part of a mezzanine loan in December 2018. AWeWork spokesperson declined to comment.

S.J. Collins partner Jeff Garrison said WeWork signed a lease in December 2018 to occupy 120K SFof the mainoffice and retail building at the Interlock mixed-use project and is still on track to move in in the late third quarter.

We are not having any conversations with WeWork about changing their lease at all, Garrison toldBisnow. We don't expect any change.

The Interlock is located off Howell Mill Road in West Midtown, near the corner of 14th Street. The $750M project's first phase includes 200K SF of office, 100K SF of retail, 350 apartments, a 160-room hotel and a smattering of single-family houses and vacation rental homes.

Aside from WeWork, which Garrison expectsto account for30% of the project's total revenue, business incubatorGeorgia Tech VentureLab agreed to fill 50K SF in the office building, and Marriott International's boutique hotel chain Tribute Portfolio isslated to operate the hotel.

WeWork's location at Wills Wharf, being developed by Beatty Development Group, was set to become the company's first location in Baltimore. It signed a 60K SF anchor lease for a 330K SF office tower, a piece of a mixed-use project, and originally expected to open in the beginning of the year, the Baltimore Business Journal reported. WeWork's website now lists the locationas due to open in October.

Bisnow

S.J. Collins partner Jeff Garrison

On Dec. 21, 2018, S.J. Collins secured a mezzanine loan with Armada Hoffler for The Interlock with a maximum principal of $67M, charging a 15% annual interest rate, according to filings with the Securities and Exchange Commission. Including collateral, the loan could fund up to $95M.

The loan matures at the end of this year, but S.J. Collins has the right to extend the maturity date for an additional five years, according to the filing.

Terwilliger Pappas, the developer of the apartment buildingat The Interlock, also received a mezzanine loan from Armada Hoffler for its piece of the project: $25.2M that charges a 13% interest rate and matures at the end of 2021, according to SEC filings.

Haddad said the risks of making these loans are low for Armada Hoffler, given the quality of the project.

We believe in the long-term value of these assets, as we've said every quarter for the last several, we'd be happy to own them, Haddad said. We don't wish ill of our partners, but I mean, I think it's important to note, you don't build real estate for what you think is going to happen over the next few months. That's a fool's errand."

"We underwrite projects for the long haul, long-term value in good locations, which is why we decided to undertake those as well as our development projects," Haddad continued."We've been right for 40 years. We expect to be right this time.

WeWork is in the midst of renegotiating leaseswith landlords across the country. Columbia Property Trustleases three spaces to WeWork,including the entirety of an under-construction Manhattan development where the coworkinggiant is scheduled to open this summer. WeWork occupies250K SF inCXP's buildings, according to the REIT's April 30 earnings call.

They did pay 90% [of its rent] for the month of April. We are in discussions with them about the future and working with them just on various options, CXPCEO Nelson Mills said onthe call. They paid that 90% in good faith as those discussions continue, so we're very optimistic that we'll maintain at least that number.

Piedmont Office Realty Trust also has three WeWork locations in its portfolio, but the company isonly paying rent for one of them. Another location is in its free-rent window and a third in Orlando, Florida, is still under construction, Piedmont Office Trust CEO Brent Smithsaid last weekduring an earnings call.

We have been very pleased with their performance and working with them as a customer and tenant, Smith said. "They continue to pay rent and meet all their obligations."

Office landlords in Metro Atlanta had a strong start to 2020, but few expect thatmomentum to continue in light of the coronavirus pandemic and the resulting economic fallout. While some deals that were close to being done did go through completion, most companies placed talks on ice until shelter-in-place orders are lifted and businesses are allowed to gear up again.

Georgia is among the very first states to do that with Gov. Brian Kemplifting restrictions on many residents and a host of retailers, including restaurants, gyms and nail and hair salons.

But for Atlanta's office market, vast shelter-in-place orders have alreadyimpacted the brokerage business.

The consensus from brokers was everything is on pause. Nothing's died. It's just a re-evaluation of what their world looks like and what the new world looks like, Newmark Knight Frank Executive Vice President Sean Moynihan said. I think we're a good 30 days away from knowing. But I also said that 30 days ago.

Transwestern Vice President of Research Keith Pierce said the firm expects corporate office space searches to fully resume bythe end of the year.

If you're looking at delivering in '21 and '22, you're talking to your lenders and you're staying the course with your fingers crossed, Pierce said.

But Pierce said he expects companies to focus more on renewals instead of moving to new projects.

My hunch is that anybody who has a lease-up in the next six to nine months, maybe longer, is very interested in maybe a straight-up renewal or an extension so they don't have to contemplate the move, he said. They'd rather kind of keep their powder dry and wait until more data is available.

Garrison said S.J. Collinsis in talks with two other companies to lease the remaining 30K SF in the office building. At the same time,the firmhas fielded interest from larger potential tenants and has been referring them to WeWork as possible enterprise customers, Garrison said.

Garrison also said he expects that the low interest rates will play in the firm's favor when it comes time to pay off the Armada Hoffler loan. That will come by either refinancing the loan or selling the project within the next three years, Garrison said.

We are so substantially leased and in a good financial position, and we continue to get leasing interest in the office and the retail, he said. "We see no concern at all going forward."

Read more here:
Lender In Talks With WeWork To Drop Out Of 2 Major Developments - Bisnow

At least three construction workers who are renovating the Smithsonians prized Air and Space Museumin Washington, D.C., have contracted COVID-19, stirring fears among the workforce that they are risking their health for a project that could wait until the pandemic passes.

The general contractor on the job a joint venture between the construction firms Clark, Smoot, and Consigli informed its subcontractors of the COVID-19 cases in recent days and confirmed them to HuffPost. A fourth worker also received a positive result from a so-called rapid test, and has been asked to undergo a more reliable lab test.

The illnesses have prompted the general contractor to temporarily close portions of the site for deep cleaning, and required workers whove been in close contact with the sick to self-quarantine. A spokesperson said all the workers who contracted the virus were asymptomatic while working, and none of have been onsite since April 30.

One worker on the project,who spoke on the condition of anonymity because employees arent allowed to talk to the press,said the anxiety has led some crews to call out sick rather than risk contracting the virus, with some workers out for days at a time. The majority of his colleagues, he said, believe they should not be working at a time when the U.S. death count due to COVID-19 has surpassed 70,000.

The Smithsonian and construction firms have continued with the years-long revitalization project even though the entire Smithsonian system is closed to the public due to the pandemic.

Were talking about a few months here in a very long project, said the worker. There are 400 working people on this job. Are they willing to risk all their lives and their families lives? Thats a really unnecessary risk in my opinion.

He added, They just dont understand why theyre working in a museum thats shut down to the public.

Paul Morigi via Getty ImagesThe Smithsonian is closed, unless you happen to be a construction worker.

A Smithsonian spokesperson said the project was allowed to continue because construction has been deemed essential under the District of Columbias stay-home order, and provided a legal memo from the Smithsonian declaring the project mission critical.

A spokesperson for the three construction firms told HuffPost the companies have done contact tracing to identify any other workers who may have been put at risk. They have also done regular cleanings, installed hand-washing stations, and required the use of masks on site.

The health and safety of our team members, their families, and our communities is [our] highest priority, the spokesperson said. We are working closely with the Smithsonian Institution and our trade partners to share accurate information as it becomes available and remain committed to safely operating in accordance with guidance from government and public health officials.

The COVID-19 cases among the Smithsonian crew highlight the dangers steelworkers, ironworkers, steamfitters and other laborers face across the country as they continue to work through the pandemic. Many work in close proximity to one another and often travel through the same choke points to access construction sites.

In many states and D.C., construction workers have been declared essential even on projects that dont appear time-sensitive or critical for the public, like condominiums and long-term renovations. The stay-home order put in effect by D.C. Mayor Muriel Bowser includes a blanket carveout for the industry, declaring it part of the essential infrastructure.

WAMU and DCist have tracked the predictable results of that policy, reporting that more than a dozen COVID-19 cases turned up among workers on a residential construction site in the citys booming Navy Yard neighborhood. Clark also helms that project. The possibility of other confirmed cases prompted the temporary closure of a construction project at the Cannon House Office Building on Capitol Hill.

The Air and Space Museum renovations have been underway since late 2018. The facilitys doors remained open to the public during that work until the Smithsonian closed all its properties to guests on March 14 due to the pandemic.

According to the Smithsonian, the Air and Space revitalization project includes refacing the museums outdoor cladding and updating old mechanical systems. Congress is funding the renovations through appropriations.

Big projects involve a number of employees working under different subcontractors, who rely on the general contractor and other firms to let them know about infections among their crews; there are more than a dozen subcontractors working at the Air and Space site. Clark, Smoot, and Consigli have asked their subcontractors to notify them about any workers who are tested for COVID-19.

The worker who spoke to HuffPost said working through the pandemic has fostered a climate of mistrust on the site. Before the coronavirus, it had been one of the best jobs hed experienced in years.

That has completely changed since this all went down, he said. Its turned into one of the more hostile jobs Ive ever been on.

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Construction Workers At The Smithsonian Have Tested Positive For Coronavirus - HuffPost

Clockwise from top left: 180 Ashland Place. 180 East 125th Street, 35 Commercial Street and 2440 Fulton Street (Credit: Google Maps)

The coronavirus pandemic did not stop companies from filing plans for major construction projects last month.

The top 10 largest projects in April totaled more square feet than any other month of the year: about 2.6 million. That compared to 1.9 million square feet in March, 1.7 million square feet in February and 1.3 million square feet in January.

Overall, the list for April was split between five projects in Manhattan, three projects in Brooklyn, one project in The Bronx and one project in Queens. No Staten Island projects made the cut last month.

The full list of Aprils top 10 biggest real estate projects is as follows:

1. 180 Ashland Place, BrooklynThis is the site of Rockrose Developments first large-scale project in Brooklyn, which will span about 418,000 square feet and stand 47 stories tall with 609 apartments and ground floor retail. Rockrose filed its plans just a few days after closing on the Fort Greene site also known as 98 Dekalb Avenue for $81 million from the Kotler family in an all-cash deal.

2. 180 East 125th Street, ManhattanGary Barnetts Extell Development filed plans for a low-rise office building spanning about 354,000 square feet on its East Harlem development site. The project will stand nine stories and 120 feet tall with ground floor retail and about 41,000 square feet of community space. Extell spent $70 million on the block-long assemblage, which is known as the Harlem Pathmark site. Sale of the Pathmark supermarket there sparked controversy, with some local residents saying they felt betrayed by seller Abyssinian Development Corporation for sacrificing their local grocery store.

3. 2440 Fulton Street, BrooklynThe Leser Group filed plans for a roughly 325,000-square-foot commercial building in Ocean Hill. It will stand six stories and 100 feet tall. Abraham Leser acquired the development site in 2015 for $33 million.

4. 35 Commercial Street, BrooklynPark Tower Group is planning this roughly 344,000-square-foot residential building in Greenpoint. It will stand 22 stories and 213 feet tall with 374 residential units, and it will include a small amount of commercial space on the ground floor as well.

5. 53-16 Northern Boulevard, QueensThe New York City School Construction Authority is planning to build a new 308,000-square-foot school in Woodside. It will stand six stories and 86 feet tall.

6. 611 West 169th Street, ManhattanRoyal Charter Properties filed plans for this 193,000-square-foot mixed-use property in Washington Heights. It will be split between about 111,000 square feet of residential space, 74,000 square feet of community space and 9,000 square feet of commercial space, and it will stand 13 stories and 135 feet tall with 132 residential units and 62 parking spots. Retail will be part of the project, and the community facility will be for a nonprofit organization with sleeping accommodations, according to the filing.

7. 40 West 137th Street, ManhattanThe citys Department of Health filed plans for its new public health lab by the Harlem Hospital Center. It will span about 188,000 square feet and stand 10 stories tall. The citys current lab is located at 455 First Avenue in Kips Bay, and the new location aims to give the department more flexibility for its equipment and let employees work more easily during crises.

8. 72 East 120th Street, ManhattanBFC Partners is planning a roughly 185,000-square-foot mixed-use project in Harlem, split between about 181,000 square feet of residential space and 4,000 square feet of commercial space. The project will stand 20 stories and 216 feet tall, and it will include 110 parking spots and 218 residential units, at least some of which will be for low-income residents.

9. 1016 Fox Street, The BronxDeveloper Peter Fine filed plans for a roughly 184,000-square-foot mixed-use project in The Bronxs Longwood neighborhood. The project will be split between about 100,000 square feet of community space, 61,000 square feet of residential space and 23,000 square feet of commercial space. It will stand 15 stories and 148 feet tall with 278 residential units, at least some of which will be for low-income residents.

10. 77 East 118th Street, ManhattanAprils list closes out with another BFC Partners project in Harlem spanning about 172,000 square feet, split between 169,000 square feet of residential space and 3,000 square feet of commercial space. The project will stand 20 stories and 216 feet tall, and it will include 202 residential units and 93 parking spots. At least some housing units in this project will be for low-income tenants as well.

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The top 10 biggest real estate projects coming to NYC - The Real Deal

SOUTH BELOIT, Ill. (WIFR) -- A local roofing company recognizes one of its crews that may have saved a woman's life while on the job in South Beloit.

Around 7 a.m. April 15, XL Contracting workers Emananuel Gamez and Josh Chudoba walked up to a job site when they heard a woman call for help. As they approached her window, she told them she had fallen and needed help.

While one of the men stayed with the injured woman, the other called 9-1-1 and waited until the South Beloit Fire Department and EMS arrived. Crews pulled the woman to safety through the window.

The woman had been on the floor since 4 a.m. was taken to a local hospital. She broke her hip and later had surgery. She will be unable to walk for a limited time.

Tom Pertz is the president of the homeowner's association at Manchester Parcels Condominium. He praised the mens' efforts.

Its a miracle that they came to work right at that time and they were in the building next to hers because they were at her residence the day before. The way it is designed, the unit above her is vacant and the ones next to her have sound barrier walls so no one would have heard her. Its just a miracle that they had heard her.

See more here:
Roofing crew rescues injured South Beloit woman - WIFR

May 7, 2020 12:25 AM ET

iCrowd Newswire May 7, 2020

As the snow melts and the weather warms, its common for homeowners to start thinking about renovations and repairs. Unfortunately, the recent COVID-19 outbreak has disrupted many of these plans, thanks in part to the state-wide stay-at-home order.

Even in the midst of this order, its still important to ensure that your home is safe and free from damage at the first line of defense against the elements: your roof.

Right now, its perfectly ok to schedule a roof inspection or repair. Roofing contractors and construction services are exempt from the stay at home order and are essential for ensuring that a home is free from costly leaks that often occur during the spring season when storms can be especially violent.

Heavy winter snowfall and harsh spring storms can cause damage to shingles and shakes. While some damage can be obvious; minor issues can go unnoticed, leading to slow leaks that can result in substantial repair costs. From minor water stains to toxic mold, a silent, unseen leak can be especially destructive. Thats why its so important to inspect your roof to catch potential problems in their infancies.

According to Steve Becker of the Denver roofing company, National Home Improvement, its important for homeowners to regularly inspect their roofs, starting at ground-level.

To keep minor problems from evolving into expensive issues, its important to keep a watchful eye on your roof, said Becker. Watch for cracked calking and rusty spots along metal flashing. Look closely for shingles that are missing, broken, curling, blistering or buckling. You should also keep an eye out for damaged or missing chimney caps, along with cracked or worn rubber boots around roof vent pipes. If you notice lichen or moss, that could be a sign of serious underlying decay.

According to Becker, its also important to carefully inspect your attic, checking for signs of mold, including musty odors and brown or yellow water stains.

With that said, when inspecting their roofs, homeowners should avoid being too aggressive, or they could damage their shingles or suffer a dangerous fall.

Anytime you walk onto your roof, you are taking a risk, said Becker. Not only could you damage the roofing materials; you could have an accident, especially if you have a sloped roof or just arent used to working with ladders.

With this in mind, its generally best to call a professional roofing contractor for seasonal roof inspections. While an average homeowner may be able to identify obvious problems, such as missing or curled shingles; other damage typically requires a trained eye.

Most homeowners are surprised to learn that some of the most expensive repair issues result from minor, unseen leaks in the roof, said Becker. Without a thorough, up-close inspection, its often not possible to know whether there is minor damage that is allowing water to seep into the home. On the other hand, regular inspection can help identify small problems before they have a chance to cause major damage.

For newer roofs that havent experienced especially harsh weather, a visual ground inspection may suffice. In any other instance, however, its best to schedule a comprehensive inspection by a professional roofing contractor who knows what to look for.

Even during these difficult, unpredictable times, its important to ensure that you arent experiencing a slow leak that could compound your stress by leading to significant damage requiring thousands of dollars in repair costs.

Its understandable that people might want to put off a roof inspection right now, said Becker. Unfortunately, the longer you wait, the bigger the risk of serious, expensive damage. Storms and leaks dont wait for anyone or anything. Even in the midst of the outbreak, homeowners should take steps to protect their largest investments.&rdquo

About National Home Improvement

Founded in 1997, National Home Improvement specializes in helping Colorado homeowners with essential home repairs and improvements that protect their largest investments. Whether they need help navigating an insurance claim or with deciding the best approach for a home repair project, our skilled experts can provide unrivaled service and knowledgeable recommendations.

From roofing and windows to siding and doors, National Home Improvement provides a full spectrum of service for homeowners throughout the Denver metro area. Committed to consistency, integrity, and quality, our team works alongside homeowners to secure and improve their properties while bringing their visions to life.

Also Read:

Steve Becker

Keywords:roof repair, roof inspection, roofing contractor, roofers, roofing companies, hail damage roofing

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Will a Roof Inspection or Repair Violate the COVID-19 Safer-at-home Order? - Reported Times

No. Grafton, MA, April 28, 2020Roofing Contractor Northeast Home & Energy of North Grafton MA celebrates their 40th year in business. Founded in 1980 by Richard Prunier, Northeast Home & Energy continues to be family owned and operated, serving the Central and MetroWest areas of Massachusetts for roofing, vinyl siding, replacement window and insulation installation services. Richard was joined by his son John, who serves as CFO and COO. Richard Prunier started the company with aspirations to help homeowners lower their heating costs. Fast forward to the present Northeast Home & Energy has evolved to become a one-stop shop for all roofing, windows, siding, and insulation needs. Northeast is a top rated, elite installer roofing company for roof repair and replacement for asphalt, rubber and metal roofing- serving residential and commercial customers in the greater Worcester and Central Massachusetts as well as Nantucket.

Northeast Home & Energy has been in business for 40 Years. Thank you to all our great customers we appreciate your loyalty in helping us service your contracting wishes. During the past 40 years there have been many changes. I have seen many other companies come and go and have seen much improvement in the quality of materials and installation that we offer. Roofing warranties used to be 15 years then 25 then 30 and now 50 Years!! It is the same with the quality of our windows they have become so much more energy-efficient. All our customers want the best job possible and that is what we give them. Again, thank you to all our loyal customers for the last 40 Years, states Northeast founder and President Richard Prunier.

Celebrating 40 years in business is a great achievement! I look forward to continuing to grow our company while maintaining the quality work and great service that my father has instilled in the business. We will continue to strive to be the best in the home improvement industry and adapt the business to best serve our customers, states John Prunier, Northeast Home & Energy Chief Operations Officer & Chief Financial Officer.

About Northeast Home & Energy

Northeast Home & Energy is an award winning, top rated home improvement contractor and roofing company in Massachusetts, Rhode Island and Connecticut. They provide roofing contractor services as well as installation of vinyl siding, replacement windows and insulation. The Better Business Bureau awarded them with a 25 year award for their A+ Rating and reviews. They are an MasterElite Installer for GAF Roofing, an Owens Corning Preferred Contractor and also a MassSave Partner.

For more information about Northeast Home & Energy and the services they provide, visit: https://northeast-home.com.

Source:https://thenewsfront.com/home-improvement-roofing-contractor-northeast-home-energy-in-north-grafton-ma-celebrates-40-years-in-business/

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Home Improvement & Roofing Contractor Northeast Home & Energy in North Grafton MA Celebrates 40 Years in Business - The News Front

Its National Travel & Tourism Week across the country and--while travel is on hold for the time being--Visit Champaign County is busy building up the community. All week, they're unveiling stories from our local businesses on what it means to be a part of the community during this time. VCC also wants to hear from you! What makes you proud to call Champaign County home? What are you looking forward to doing in the community again. Follow along with us on social media to share your stories.

With the start of May, there are many changes to whats available in the community. Many restaurants have re-opened with new offerings. Our local shops and boutiques are now able to take orders for curbside pickup, so as you sit at home and want to add dcor, do work in the yard, or if you simply want to dress up, check out the online stores many retailers have created.

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Repair or replace your roof with The Roofing Dog - wcia.com

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The scope of the Report:

The report analyzes the key opportunities, CAGR, and Y-o-Y growth rates to allow readers to understand all the qualitative and quantitative aspects of the Automotive Carpeting And Roofing market. A competition analysis is imperative in the Automotive Carpeting And Roofing market and the competition landscape serves this objective. A wide company overview, financials, recent developments, and long and short-term strategies adopted are par for the course. Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in the sales of Automotive Carpeting And Roofing across the world has been calculated through primary and secondary research. The Automotive Carpeting And Roofing Market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status.

By Regions:

* North America (The US, Canada, and Mexico)

* Europe (Germany, France, the UK, and Rest of the World)

* Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

* Latin America (Brazil and Rest of Latin America.)

* Middle East & Africa (Saudi Arabia, the UAE, , South Africa, and Rest of Middle East & Africa)

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Highlights of the Automotive Carpeting And Roofing market study:

Speculations for sales:

The report contains historical revenue and volume that backing information about the market capacity, and it helps to evaluate conjecture numbers for key areas in the Automotive Carpeting And Roofing market. Additionally, it includes a share of every segment of the Automotive Carpeting And Roofing market, giving methodical information about types and applications of the market.

Key point summary of the Automotive Carpeting And Roofing market report:

This report gives a forward-looking prospect of various factors driving or restraining market growth.

It presents an in-depth analysis of changing competition dynamics and puts you ahead of competitors.

It gives a six-year forecast evaluated on the basis of how the market is predicted to grow.

It assists in making informed business decisions by creating a pin-point analysis of market segments and by having complete insights of the Automotive Carpeting And Roofing market.

This report helps users in comprehending the key product segments and their future.

Strategic Points Covered in TOC:

Chapter 1: Introduction, market driving force product scope, market risk, market overview, and market opportunities of the global Automotive Carpeting And Roofing market

Chapter 2: Evaluating the leading manufacturers of the global Automotive Carpeting And Roofing market which consists of its revenue, sales, and price of the products

Chapter 3: Displaying the competitive nature among key manufacturers, with market share, revenue, and sales

Chapter 4: Presenting global Automotive Carpeting And Roofing market by regions, market share and with revenue and sales for the projected period

Chapter 5, 6, 7, 8 and 9: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions

Finally, the report global Automotive Carpeting And Roofing market describes Automotive Carpeting And Roofing industry expansion game plan, the Automotive Carpeting And Roofing industry knowledge supply, appendix, analysis findings and the conclusion. It includes a through explanation of the cutting-edging technologies and investments being made to upgrade the existing ones.

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Automotive Carpeting And Roofing Market 2020 | Growth Drivers, Challenges, Trends, Market Dynamics and Forecast to 2026 - Cole of Duty

The market expects Beacon Roofing Supply (BECN) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2020. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on May 7, 2020, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This roofing materials distributor is expected to post quarterly loss of $0.27 per share in its upcoming report, which represents a year-over-year change of +40%.

Revenues are expected to be $1.45 billion, up 1.7% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 33.92% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Beacon Roofing?

For Beacon Roofing, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +88.79%.

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On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Beacon Roofing will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Beacon Roofing would post earnings of $0.43 per share when it actually produced earnings of $0.32, delivering a surprise of -25.58%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Beacon Roofing appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportBeacon Roofing Supply, Inc. (BECN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.

Link:
Beacon Roofing Supply (BECN) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release - Yahoo Finance

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CP photo: Jared Wickerham

Jon Potter, of Pittsburgh Good Deeds, poses for a portrait near his home on Sun., May 3, 2020.

A few years ago, Potter began helping people who posted in the r/Pittsburgh subreddit with handyman tasks like installing an antenna or plumbing repairs. Eventually he created another subreddit, called Pittsburgh Good Deeds (r/PittsburghGoodDeeds), where people can ask for help and Potter, or one of the 1,000 other members, can offer to chip in. Requests come in for things like getting a ride to a food bank, fixing a leaking roof, repairing a washing machine, and other tasks.

Only once has physical labor taken on an extreme meaning. Last August, one of Potter's good deeds went viral when he donated a kidney to a stranger who he found on Reddit. The story was featured everywhere from the Washington Post to People magazine.

Now, Pittsburgh Good Deeds is a small nonprofit. Potter and his single employee do general handyman repairs, and they do about half of them for free. Right now, they are focusing mostly on roof repairs to avoid physically entering peoples' homes.

Before the pandemic hit, Pittsburgh Good Deeds rarely gave financial assistance, mostly focusing on physical fixes. But since so many people have lost their jobs or wages amid the fallout, there has been an increase in people asking for help buying groceries or paying rent.

Last month, when Potter received a $1,000 Hometown Hero award from KDKA radio's Larry Richert, he posted to Reddit asking if anyone needed financial assistance. He gave it all away once people started messaging about bills they needed help paying, but something else happened. In the original post, Potter added at the end that people could "chip in" if they wanted, so he could give away more money. Through that post, he raised about $8,000 and gave that away, too. Two weeks ago, he posted on Reddit again, ready to give away another $13,000.

On Tuesday, when cat cafe Colony Cafe announced they were closing, Pittsburgh Good Deeds covered the adoption fees for nine cats. Not just anyone could gain the trust of hundreds of strangers on the internet and collect their money through an unofficial channel. He says the track record he's built up over several years is responsible.

"So far, 30% of people who asked for money asked for someone else, either a neighbor or a coworker, or even an employee," says Potter. "That's really encouraging."

He says that while there is the occasional dishonest or disingenuous person, it's more common for the general community to label a call for help a scam. Last year, a man posted about contemplating suicide due to unpaid bills. Other Redditors thought it was a scam and took the post down. Potter loaned him $2,000 and the two became friends.

Potter doesn't want to take too much credit for his altruism. He's been heralded as a modern-day Mister Rogers. But he doesn't want to be lifted up "higher than I am."

"I never really intended for it to be this huge mission of kindness, but it's sort of starting to become that," says Potter. "I always just say Im just a regular dude that just kind of stumbled into this."

Just a regular dude, repairing roofs for free in the middle of a pandemic.

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Man behind Pittsburgh Good Deeds is 'just a regular dude, repairing roofs for free in the middle of a pandemic' - PGH City Paper