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Peabody, MA-based Beacon Roofing Supply Inc. reported sales for the third quarter 2009 fell 9.9% to $463.6 million from the prior-year period. Profit for the third quarter was $17.2 million, down slightly from the prior-year period.
Residential roofing sales increased 10.4% while non-residential roofing and complementary product sales declined 25.6% and 25.1%, respectively. Residential roofing sales benefited from higher average year-over-year prices as well as from strong, although diminishing, re-roofing activity in markets that were affected by Hurricane Ike. Nonresidential sales continued to slow significantly due to adverse economic conditions. Complementary product sales were negatively impacted by both the slowdown in the economy and lower levels of new construction.
Sales ...
Peabody, MA-based Beacon Roofing Supply Inc. reported sales for the third quarter 2009 fell 9.9% to $463.6 million from the prior-year period. Profit for the third quarter was $17.2 million, down slightly from the prior-year period.
Residential roofing sales increased 10.4% while non-residential roofing and complementary product sales declined 25.6% and 25.1%, respectively. Residential roofing sales benefited from higher average year-over-year prices as well as from strong, although diminishing, re-roofing activity in markets that were affected by Hurricane Ike. Nonresidential sales continued to slow significantly due to adverse economic conditions. Complementary product sales were negatively impacted by both the slowdown in the economy and lower levels of new construction.
Sales increased 2.4% to $1.2 billion in the first nine months of 2009 from $1.2 billion in last year's first nine months. Residential roofing sales increased 31.5% while non-residential roofing and complementary product sales declined 15.3% and 23.0%, respectively. Year-to-date 2009 sales were principally influenced by the same factors as in the third quarter, although the estimated inflation impact was slightly higher and the Hurricane Ike-related business was greater in the year-to-date period.
Profit for the first nine months was $33.4 million, up from $15.4 mill ion 2008.
Beacon
Roofing Supply Inc. is a distributor of roofing materials and complementary building products operating 169 branches in 35
states in the U.S. and in three provinces in Eastern Canada.
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