Beacon Roofing Supply, Inc., Peabody, MA, reported that sales for its fiscal 2009 first quarter were up 16.3% to $463.3 million. Residential roofing sales were up 58.5% and non-residential (commercial) roofing and complementary product sales declined 4.7% and 17.5% respectively.
According to Beacon, residential roofing sales benefited from year-over-year price increases as well as from strong re-roofing activity in markets that were affected by Hurricane Ike. Non-residential sales slowed due, in part, to early winter conditions in markets that have the largest concentration of commercial business. Complementary product sales continued to be negatively impacted by both the slowdown in the economy and lower levels of new construction.
Profit for the first quarter was $18.6 million, up from $5.2 million in 2007.
Beacon Roofing Supply is a distributor of roofing materials and complementary building products operating 171 branches in 35 states in the U.S. and Eastern Canada.