Blizzards and bitter cold ravaged Beacon Roofing Supply in its fiscal second quarter ended March 31, leading it to report today a $72.7 million loss for the period despite achieving record 2Q sales of $1.43 billion.

[Editor's note: The $1.43 billion includes revenue from Canada. In Beacon's 10-Q SEC filing, submitted May 9, the company reported sales from U.S. units totaling $1.40 billion.]

Acquisitions--including Beacon's official takeover in January of Allied Building Products--accounted for all of the 63.7% gain in sales over the $870.7 million achieved a year earlier. Sales excluding acquisitions in existing markets slipped 0.1%.

The winter quarter traditionally is tough on roofing specialists, even when you're the No. 3 company on the ProSales 100. For instance, Beacon's net loss in 2Q17 was $9.4 million. But this year's storms hurt more, the company said.

"Harsh winter weather conditions limited customers available work days," president and CEO Paul Isabella said in a statement. "The year-to-year temperature declines, particularly throughout the Midwest, Ohio Valley and South, produced one of the most significant temperature drops in the past several decades. The cold weather, combined with heavier February precipitation and March snowstorms, created a difficult environment for the roofing industry."

Despite those challenges, strong volume from Southern states hit by last fall's hurricanes plus the passing through of manufacturers' price increases kept organic sales flat, Isabella said, adding: "We are confident pricing will continue to improve over the coming months."

Gross profit margin inched up to 23.7% from 23.5% in 2017's January-to-March period. But the 6.5% rise in gross profit to $338.4 million was overwhelmed by the 83% increase in operating expenses. The result: an operating loss of $57.4 million. A year earler, it was $3.1 million.

Herndon, Va.-based Beacon also measures itself in terms of adjusted net income--i.e. net minus dividends on preferred shares, acquisition costs, and benefits or losses from the recent tax reform. By that metric, the company reported an adjusted net loss of $23.5 million, swinging from a $5 million adjusted net profit one year ago.

The company's balance sheet as of March 31 shows that goodwill accounts for $2.38 billion of the company's $6.18 billion in assets. Meanwhile, the company's long-term debt totaled $2.49 billion.