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In The News:

Beacon Roofing Sales Up 64%

Beacon Roofing Supply Inc. (NASDAQ: BECN), Herndon, VA,  reported sales of $1.43 billion for its fiscal second quarter ended March 31, a 64 percent increase compared to the same period in 2017. The company reported a loss of $72.7 million, compared to a loss of $9.4 million in the second quarter of 2017.

Beacon Roofing acquired Allied Building Products last year, adding more than $2 billion in annual sales. The company reported successful early integration of the acquisition, and said it is committed to growing both organically and via acquisition.

For the quarter, residential roofing product sales increased 19.7 percent, non-residential roofing product sales increased 35.6 percent, and complementary product sales increased 263.2 percent over the prior year. Existing markets sales, excluding acquisitions, decreased 0.1 percent for the quarter.

For the first half of the year, the company’s total sales increased 36 percent to $2.55 billion, up from $1.87 billion in 2017. Residential roofing product sales increased 15.2 percent, non-residential roofing product sales increased 18.6 percent and complementary product sales increased 138.1 percent over the prior-year period. Existing markets sales, excluding acquisitions, increased 4.4 percent for the first half.

 

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