The 2020 Mid-Year Economic Update_long

Beacon Roofing Sales Up 7.4% in 2Q

Year-to-date sales up 7.7 percent year-over-year.

Beacon Roofing Supply Inc. (NASDAQ: BECN), Herndon, VA, reported sales for the fiscal second quarter of $413.2 million, a 7.4 percent increase year-over-year. Beacon reported a loss of $9.8 million for the quarter, compared to a loss of $12.1 million in the prior-year quarter.

Residential roofing product sales for the quarter increased 9.7 percent, non-residential roofing sales were up 1.2 percent and complementary product sales increased 13.7 percent year-over-year.

Year-to-date sales were a record $1 billion, up 7.7 percent from the prior-year period. Profit increased 10.7 percent to $3.1 million.

"This achievement underscores our continued focus on growth through existing markets, acquisitions and greenfields," said Paul Isabella, president and CEO. "We already have opened five new branches in 2015, with more to come this year."

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