ElkCorp ( ELK) cut third-quarter earnings guidance, citing rising costs and a slow recovery in parts of Florida hit by last summer's hurricanes.

The Dallas-based roofing company expects to make 40 cents to 43 cents a share for the quarter, a dime below its previous view. Elk also expects full-year earnings to hit the low end of its $2.25 to $2.40 EPS target.

Transportation and asphalt costs have continued to increase beyond the company's previous expectation of leveling off in the quarter.

"We continue to see strong shingle demand in the majority of the country, however, due to the slower than anticipated ramp in the demand from Hurricane Wilma we did not ship as much product as anticipated into the Florida market," said CEO Thomas Karol. "We believe that there is still substantial demand in these areas, but due to the longer lead times for insurance claims settlement, this demand is at a much slower pace than after previous storms. Additionally, asphalt prices and transportation costs are higher than we had originally anticipated for the quarter. We have announced a 7% to 9% price increase effective April 3rd that should help us to offset these costs."

Elk shares were halted late Monday after closing down 4 cents at $36.24.