The 2020 Mid-Year Economic Update_long

Beacon Roofing Supply Reports Strong Q3

Distributors sales increase 60%; Allied integration progresses ahead of schedule.

Beacon Roofing Supply Inc. (NASDAQ: BECN), Herndon, VA,  reported sales of $1.93 billion for its fiscal third quarter ended June 30, a 60 percent increase compared with the third quarter of 2017. The company reported third-quarter net income of $43.4 million, compared with $44.7 million in the year-ago period.

The distributor of roofing materials and related building supplies said organic sales increased 2 percent during the quarter, and that its integration of Allied Building Products is “tracking better than expected for 2018,” according to company President and CEO Paul Isabella. Beacon Roofing Supply acquired Allied last year, adding more than $2 billion in annual revenue.  

For the nine months ended June 30, Beacon Roofing reported sales of $4.48 billion, a 45 percent increase compared to a year ago. Net income for the the first nine months of the year was $38.3 million, compared to $55.7 million a year ago.

 

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