The 2020 Mid-Year Economic Update_long

Beacon Roofing Sales Down 7.5% in 2Q

Year-to-date sales up 0.8 percent year-over-year.

Beacon Roofing Supply Inc. (NASDAQ: BECN), Herndon, VA, reported sales for the fiscal second quarter ended March 31 of $384.9 million, a 7.5 percent decrease year-over-year. Beacon reported a loss of $12.1 million for the quarter, compared to a loss of $0.2 million in the second quarter of 2013.

"Multiple winter storms that brought record snowfall and freezing rain delayed both residential and commercial roofing projects across our core markets," said Paul Isabella, president and CEO. "We believe the second half of the year volume will be strong for both our residential and commercial markets."

Residential roofing product sales for the quarter decreased 12.1 percent, while non-residential roofing sales were down 2.3 percent.

Year-to-date sales were $937 million, up 0.8 percent from the prior-year period, with organic sales down 1.5 percent. Profit was $2.8 million, compared to $18 million in the first half of 2013.

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