Beacon Roofing Supply Sales Up 20.8% in Fiscal 3Q - Modern Distribution Management

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Beacon Roofing Supply Sales Up 20.8% in Fiscal 3Q

Beacon also reported a third-quarter profit of $70.5 million, compared with a $12.7 million loss in the year-ago period.
Beacon fy 2021 4Q sales

Beacon (NASDAQ: BECN), Herndon, Virginia, reported sales of $1.9 billion for its fiscal third quarter ended June 30, a 20.8% increase compared with the third quarter of 2020. The company reported a third-quarter profit of $70.5 million, up from a loss of $12.7 million in the year-ago period.

“Solid demand for our products, combined with strong price performance, drove record quarterly sales and enhanced gross margins,” said Julian Francis, Beacon’s president and CEO. “I am especially pleased with the progress we are making on our strategic initiatives that are focused on top line growth and operational improvement, which led to the highest Adjusted EBITDA in our history. In the last two quarters, we have restored financial flexibility to our balance sheet, added seasoned leadership to our executive team and focused our business on our core exterior products — all of which, combined with our expanded ESG initiative, underpin our ability to sustainably generate high quality returns for our stakeholders.”

For the nine months ended June 30, Beacon Roofing reported sales of $4.8 billion, a 14.5% increase compared to the same period a year ago. The company reported a loss for the period of $168.3 million, slightly narrowing its loss of $70.8 million a year ago.

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